Zak Ewen, partner at Battery Ventures, told PE Hub that software businesses whose value extends beyond just their product rank highly when evaluating companies facing AI disruption. These companies demonstrate greater resilience against AI disintermediation, offering investors more stable returns in an evolving technological landscape.

Ewen emphasized that factors like deep understanding of end markets and strong support provision create competitive advantages that AI cannot easily replace. This market knowledge allows companies to maintain customer relationships even as automation threatens traditional software business models.

For investors, this insight shifts focus from purely product-based valuations to evaluating a company's holistic market position. Battery Ventures prioritizes these qualities when assessing software investments, recognizing that businesses with comprehensive customer relationships and industry expertise will weather technological disruptions better than product-only competitors.