https://techcrunch.com/2022/04/30/felicis-ventures-partners-share-the-four-pillars-of-scaling-a-saas-startup/

For investors, one factor will almost always stand head and shoulders above the rest: Your TAM (total addressable market) needs to break at least $1 billion.

But alongside a massive addressable market, investors are also looking to see that you have existing customers, even they’re few in number, who truly love your product.