The article below is taken from SaaS Mag Issue 4. To order your free copy, click here.
The global SaaS market is forecast to reach $157 billion in 2020, $16 billion more than the market size at the end of 2019, according to the research firm Statista.
The outlook for B2B and B2C SaaS companies is positive, with new technology entering the market at an increasing rate and the adoption of the SaaS model on the rise. There is big money in SaaS mergers and acquisitions activity, and growth is expected to continue. In some of last year’s biggest deals, Qualtrics was acquired by SAP for $8 billion, Hortonworks was acquired by Cloudera for $5.2 billion, and SendGrid was acquired by Twilio for $3 billion. Other companies, such as DocuSign, Dropbox, and GitHub, are choosing the IPO route. Private equity firms are continuing to see SaaS as a good investment due to factors such as lean cost structure, recurring revenues, increased customer demand, and high customer lifetime values.
SaaS founders are using technology to solve a wide range of problems, including customer resource management, monitoring and security, accounting and finance, e-commerce, healthcare, workforce and payroll management. While big players like Salesforce, ServiceNow, Shopify, Workday, and Atlassian have significant market capitalization, this doesn’t mean that other companies can’t, or won’t, catch up.
These 25 rapidly-growing companies, focusing on everything from accounting to e-commerce, top our annual SaaS 1000 list. As their customer metrics, revenues, and funding rounds show, they are each a force to be reckoned with. The SaaS 1000 takes into consideration metrics such as how much revenue and teams have grown, as well as factors like funding and age.
1. Practice Ignition
Practice Ignition simplifies client engagement by automating proposals, invoices, and payments in one place with built-in contracts, engagement letters, and invoices. The all-digital process saves business owners time and money while streamlining the process for clients. Practice Ignition can be integrated with QuickBooks, Xero, and other similar apps, helping users manage their client relationships on the dashboard. Users include accountants and bookkeepers managing client rosters of all sizes.
Founded in 2006, 2Checkout (formerly known as Avangate) is a payment platform used by more than 17,000 SaaS and software companies to manage their online sales. Multi-currency management and global partners allow for seamless payment across countries and territories, even on mobile devices. The company is a leader in subscription billing, helping clients grow from the first trial through onboarding and upgrading processes.
CodeSignal offers skills assessments, live interviews, and skills certifications to assist recruiters in cultivating talent while also giving developers a place to both practice skills and take practice technical interviews. CodeSignal also features a blog with career advice, industry expertise, and recruiting tips.
4. NICE Satmetrix
NICE Satmetrix (formerly known as Satmetrix) offers customer experience management software and is the world’s largest holder of customer experience data. The company established the Net Promoter Score, which is a widely accepted measure of customer loyalty and experience. Clients include Experian, Virgin Money, and Exchange Bank.
Bitnami, a self-funded application packaging company, simplifies the management of multi-cloud, cross-platform environments. Its catalog contains more than 130 ready-to-run applications. The company was acquired by publicly traded VMware in 2019.
SketchUp’s 3-D modeling program offers a variety of digital drawing applications for architecture, interior design, landscaping, engineering, film, and video game design. The company, founded in 1999, was acquired by Google through a merger with its parent company @Last Software and then sold to Trimble Inc. in 2012.
Founded in France in 2016, Livestorm’s web-based video communications are used by businesses around the world to connect with employees and global partners. Accessibility is Livestorm’s primary goal, and the company offers a live webinar service with builtin infrastructure for easy setups. In September 2019, Livestorm raised $5 million in Series A funding, which allows it to double the size of its staff.
Sendoso helps companies add digital and physical sending strategies to their go-to-market programs. By integrating with leading sales and marketing tools like Salesforce, Marketo, Hubspot, Outreach, and others, Sendoso’s customers can leverage existing programs and gain visibility into the effectiveness of their campaigns. Founded in 2016, Sendoso is backed by $54 million in venture funding.
Founded in 2015, eloomi is an employee experience platform for midsize businesses. Clients have access to tools for onboarding, training, surveys and engagement, feedback, and performance evaluations. In July 2019, the company, based in London and Copenhagen, announced a $14 million Series A funding round led by Kennet Partners, a leading growth equity fund, with participation from existing investor VF Venture.
This customer experience software company helps businesses across industries track and manage customer satisfaction while also responding to online reviews. ReviewTrackers analyzes online reputations and offers SEO services to boost local search visibility. Customers include local healthcare businesses, retailers, and financial service institutions looking to gain digital traction.
11. Crelate Talent
More than 1,200 staffing and recruiting agencies use Crelate’s applicant tracking software to recruit talent and help manage the hiring process. An easy to use dashboard keeps interviews, candidates, and resumes organized and accessible, and gathers data to help recruiters visualize progress and efficiency. The software can also be integrated with job sites like Glassdoor, Monster, and Indeed, as well as the Resume Library database.
If you travel for work or are an employer, TravelPerk can make the process of booking travel more seamless. It allows people to book travel, ensuring that they adhere to their employer’s company policies, organize all expenses, and send invoices. It provides 24/7 customer service concierges who are available via web-chat or phone. The FlexiPerk trip feature offers the possibility of a 100% refund for travel in the U.S., U.K., Germany, and Spain. Thousands of organizations use TravelPerk to manage their company travel.
CleverTap’s marketing services are focused on acquiring and retaining users for high-growth mobile apps like Fandango. The company’s platform uses artificial intelligence and machine learning to personalize the customer experience with real-time data and to provide timely metrics. CleverTap delivers across email, text, and push notifications. Since its founding in 2012, it has delivered 20 million campaigns and powered more than 8,000 apps.
TrackMaven uses global data to provide marketing insights for some of the world’s largest brands, including KIND Snacks, MGM Resorts, and Microsoft. The platform tracks performance against competitors provides website analytics, and measures paid social campaign effectiveness. Users can manage, schedule, and budget their social campaigns within the platform.
Its fully digital and automated human resources management system is ideal for small and medium enterprises looking to find and onboard talent while at the same time managing current employees and payroll accounting. Personio’s international team includes more than 400 employees and is headquartered in Munich, Germany.
Mobiniti specializes in finding hard-to-reach customers through text messaging and email marketing. The service automatically asks for reviews and referrals for maximum visibility. Users can track campaigns and progress within Mobiniti, while its international mobile carriers help clients reach customers globally. Features include message scheduling, data capture, drip messages, and image and video features. Text campaigns and contests can be uploaded to social platforms like Facebook and Twitter to engage users.
Founded in 2014, Whatfix is a platform that helps companies provide intuitive onboarding and effective training and support. In February, Whatfix announced that it had raised a $32 million Series C round of funding led by Sequoia Capital India with participation from Cisco Investments, Eight Roads Ventures, and F-Prime Capital. Whatfix plans to use the funding to drive product development and to expand into additional markets such as Europe and Australia. The company is currently based in San Jose, San Francisco, Bangalore, London, and Melbourne.
Bugsnag monitors application stability so developers can be notified of bugs in real-time. The company offers automated error monitoring, reporting, alerts, and diagnostic capture for mobile, web, and back-end apps. Bugsnag processes more than 1 billion crash reports every day. Users include more than 5,000 leading brands, such as Airbnb, Slack, Pinterest, Lyft, Yelp, and Pandora. Based in San Francisco, Bugsnag is backed by GV (Google Ventures), Benchmark Capital, and Matrix Partners.
GitLab is an open-source DevOps platform, delivered as a single application, that helps development, security, and ops teams collaborate and build software. GitLab improves cycle time, reduces development process costs, and decreases time to market.
MeisterTask is an online task management tool for teams. The application allows individuals and teams to digitally organize, assign, and keep track of their tasks. Teams can use predefined workflows or create customized ones. MeisterTask integrates with other applications and websites like Gmail, Slack, and Dropbox. Since launching in 2015, MeisterTask has been listed as a top app by the Apple App Store, the Google Chrome Store, and WIRED, among others.
Front is an email collaboration tool that allows teams to collaborate on email, texts, and other messages from shared and individual inboxes. In January, Front announced a $59 million Series C funding round. Along with Sequoia Capital, the round was led by some of the biggest leaders in the future of workspace, including executives from Atlassian, Okta, Qualtrics, and Zoom. This round of financing will allow the company to focus on driving product innovation and scaling go-to-market functions.
22. Pipeliner CRM
Pipeliner CRM is a customer relationship management platform built for sales teams. The tool focuses on pipeline management, sales processes, and analytics. The mobile app has location and mapping features, voice-to-text capability, and business card scanning. Founded in Austria and based in Los Angeles, Pipeliner CRM has customers in more than 34 countries.
Coralogix automatically creates component level insights from log data. The artificial intelligence technology continuously observes a company’s log patterns and flows between system components to understand what typical behavior looks like and sends notifications when a pattern deviates. Founded in 2015, Coralogix has helped more than 1,000 companies manage log data.
Spendesk is a spend management platform that is used to control corporate expenses. Executives can set spending limits, monitor budgets and track, reconcile, and report in real-time every payment made. Employees use the platform to request and access company funds and send receipts and invoices.
Databricks helps companies make their data ready for analytics so they can make data science and data-driven decisions and rapidly adopt machine learning. Founded in 2013, Databricks’ customers include Comcast, Shell, HP, and Expedia.