Why Enterprise Software Growth Is Coming From Platform Expansion

Lucas and Luna examine how enterprise software companies like ServiceNow and Salesforce are driving growth not through new customer acquisition but through expanding existing platform relationships. With the iShares Russell 1000 Growth ETF (IWF) trading around $122 and Vanguard Growth ETF (VUG) at $85 in early June 2026, the hosts discuss why platform stickiness is becoming the key metric for growth investors. They explore ServiceNow's recent federal contract wins and Salesforce's Agentforce AI rollout, arguing that expansion revenue now accounts for over 60% of new annual contract value at top enterprise software firms. The conversation also touches on how JPMorgan's AI agent deployment plans signal broader enterprise IT spending trends, and why growth investors should focus on net revenue retention rates rather than headline customer counts. #EnterpriseSoftware #PlatformExpansion #ServiceNow #Salesforce #NetRevenueRetention #GrowthStocks #AIAdoption #Agentforce #JPMorgan #ITSpending #IWF #VUG #ARR #LandAndExpand #FederalContracts #FexingoBusiness #BusinessPodcast #Finance Keep every episode free: buymeacoffee.com/fexingo