These Startups Are SaaS-ing It up

India could be on the verge of unlocking a $1 trillion opportunity for Software-as-a-service (SaaS) companies, creating nearly half a million new jobs by 2030, said a report titled 'Shaping India's SaaS Landscape'

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Software-as-a-service (SaaS) companies are in vogue. They are the talk of the town and have been giving stellar performances amid the pandemic.

India could be on the verge of unlocking a $1 trillion opportunity for Software-as-a-service (SaaS)  companies, creating nearly half a million new jobs by 2030, said a report titled 'Shaping India's SaaS Landscape' by SaaSBOOMi, Asia's largest community of SaaS founders and product builders, in association with McKinsey. 

India currently has around 1,000 SaaS startups and ten of them are Unicorns. "Indian SaaS companies now generate $2-3 billion in revenue each year and have earned about one per cent of the global market. If they reach their full potential, it can generate annual revenue of $50-$70 billion by 2030 and win 4-6 per cent of the global market, a value-creation opportunity of $500 billion to $1 trillion," added the report.

If you are a SaaS enthusiast, watch out for these startups:

Freshworks

Currently valued at $13 billion

Freshworks became the first Indian SaaS startup to list on Nasdaq. The fresh approach of the company towards business software has enabled more than 50,000 companies, big and small across the globe, to exceed customer and employee expectations. “We deliver on the unfulfilled promise of easy-to-use SaaS software and help our customers drive clear business results. We are a leading provider of modern SaaS solutions,” claims the company.

Postman

Currently valued at $5.6 billion

Postman is an application programming interface (API) platform for building and using APIs. The company  simplifies each step of the API lifecycle and streamlines collaborations. The platform includes a comprehensive set of tools that help accelerate the API lifecycle—from design, testing, documentation and mocking to sharing and discoverability of  APIs.

BrowserStack

Currently valued at $4 billion

BrowserStack is a software testing platform powering over two million tests every day across 15 global data centers. “We help Microsoft, Twitter, Barclays, Expedia and over 25,000 customers deliver quality software at speed by moving testing to our Cloud. Our platform provides instant access to 3,000-plus real mobile devices and browsers on a highly reliable Cloud infrastructure,” claims the company.

HighRadius

Currently valued at $3.1 billion

HighRadius is a fintech enterprise Software-as-a-Service (SaaS) company. It leverages AI-based autonomous systems to help companies automate accounts, receivable and treasury processes. It’s receivables platform reduces cycle times by automating receivables and payments processes across credit, electronic billing, payment processing, cash application, deductions and collections.

Icertis

Currently valued at $2.8 billion

Icertis pushes the boundaries of what’s possible with contract lifecycle management (CLM). CLM software optimizes and streamlines an organization’s contracts. The AI-powered, analyst-validated ICI platform turns contracts from static documents into strategic advantage. “The world’s most iconic brands and disruptive innovators trust Icertis to fully realize the intent of their combined 10 million-plus contracts worth more than $1 trillion,” claims the company.

 

Druva

Currently valued at $2 billion

The platform helps customers radically simplify data protection, streamline data governance, gain data visibility and insights as they accelerate Cloud adoption. It aims to eliminate complex infrastructure and related management costs. “Druva is trusted by thousands of enterprises to make data more resilient and accelerate their journey to the Cloud,” claims the company.

Zenoti

Currently valued at $1.5 billion

Zenoti powers thousands of spas and salons in over 50 countries. It helps clients streamline their systems and reduce costs while  improving customer retention and spending.  It  allows users to seamlessly manage every aspect of the business in a comprehensive mobile solution— online bookings, POS, CRM, employee management, inventory management, built-in marketing programs and more.

Chargebee

Currently valued at $1.4 billion

Chargebee is a recurring billing and subscription management tool. It  helps SaaS and SaaS-like businesses streamline revenue operations. The platform integrates with the leading payment gateways around the world and automates recurring payment collection along with invoicing, taxes, accounting, email notifications and customer management.

Gupshup

Currently valued at $1.4 billion

The platform enables better customer engagement through conversational messaging. “Across verticals, thousands of large and small businesses in emerging markets use Gupshup. Our carrier-grade platform provides a single messaging API for 30-plus channels, a rich conversational experience-building tool kit and a network of emerging market partnerships across messaging channels,” claims the company.

Innovaccer

Currently valued at $1.3 billion

It is a leading healthcare data activation platform company focused on delivering efficient and effective healthcare through the use of analytics,  transparent, clean, and accurate data. Innvoaccer’s aim is to simplify complex data from all points of care, streamline information and help organizations make powerful decisions based on their data.

Mindtickle

Currently valued at $1.2 billion

Revenue and sales leaders can use Mindtickle to continuously assess, diagnose and develop knowledge, skills, and behaviors required to effectively engage buyers. It provides a comprehensive, data-driven solution for sales readiness that fuels revenue growth and brand affinity. 

Zoho

Currently valued at ~$1 billion

Zoho offers smart software to help  businesses scale.  With over 70 million users worldwide, Zoho's 50-plus  products aid sales, marketing, support, collaboration, finance and recruitment needs. The platform respects user privacy and does not have an ad-revenue model in any part of its business.

Whatfix

Currently valued at $600 million

It  is a leading digital adoption platform that helps companies deliver modern and easy on-boarding, effective training and better support to users. The platform powers up software solutions by lending incredible simplicity, intuitiveness and personalization.

 

LogiNext

Currently valued at $100 million- $600 million

It is a global technology and automation company with a focus on transportation, home deliveries, omni-channel fulfillment and B2B distribution market. A SaaS product configurable for courier, express and parcel, QSR chains, retail, e-commerce and transportation, LogiNext has more than 200 clients across 50-plus countries.

LeadSquared

Currently valued at $85.6 million

It is a marketing automation and sales execution platform that helps businesses increase their closures, manage their pipelines and attribute its  ROI. LeadSquared is being used by enterprises across a diverse set of industries. 

WebEngage

Currently valued at valued at $100-200 million 

It is a customer data platform and marketing automation suite that simplifies user engagement and retention. The company is a multi-channel marketing automation and customer data platform for B2C brands. It helps brands drive more revenue from their existing customers and anonymous users through highly contextual, hyper-personalized engagement campaigns across 10 communication channels.