Everyone is spending on AI.
Almost no one knows the return.
Greyspace is a quarterly benchmark of AI spend and return for venture- and growth-stage software companies. Operators submit what they spend and what they get back. In return they receive anonymised peer data: the medians and quartiles that exist nowhere else.
| Specimen | Peer distribution | ||
|---|---|---|---|
| P25 | Med | P75 | |
| AI COGS, % revenue | 2.1 | 4.8 | 9.3 |
| Code AI-generated | 14% | 31% | 55% |
| AI spend, % payroll | 6% | 13% | 27% |
| Revenue / employee | +4% | +11% | +23% |
What participants receive
- I
Anonymised peer benchmarks
Medians and quartiles, segmented by stage, size and software class.
- II
Your Greyspace Performance Index and percentile
A single score, and exactly where you rank against your peers.
- III
A quarterly, board-ready report
Delivered in the weeks after each quarter closes.
- IV
Confidentiality by construction
Your figures are never shown; you see only the aggregates.
What we measure, and whether it’s working
Spend
What you spend on AI, and how that spend breaks down.
Usage
How widely, and how deeply, AI is actually used.
Quality
Whether engineering quality holds up as AI takes on more.
Outcomes
What it is doing to revenue, retention and margin.
The Greyspace Performance Index
Computed from your reported figures, not a self-assessment. On each of four pillars you are placed in a quartile against peers your size; the four sum, weighted equally, to a score out of sixteen. No invented weighting, just where your numbers land.
Method & confidentiality
Greyspace is run by Harry, a growth-equity investor who operates it independently, vetting every submission by hand for legitimacy and data quality. It is continuously shaped by the operators it measures: participants help define what gets benchmarked each quarter.
Your figures are never shown. You see only the aggregates: medians and quartiles within your peer group.
Figures are submitted and attested by a C-suite signatory.
Your data is used to produce the benchmark and nothing else. It is never sold or shared.
For PE & VC
Put your whole portfolio on the Index. See how every company you back compares, to each other and to the market, with a cross-portfolio view no one else can access.
Begin
For C-suite operators at venture- and growth-stage software companies. Every submission is reviewed by a person.