An Analysis of the 300 Most Successful SaaS Companies - According to Cledara Data

We dig into our data to see what we can learn about the 300 most successful SaaS companies.
An Analysis of the 300 Most Successful SaaS Companies - According to Cledara Data

Cledara holds a lot of interesting data. From time to time, we like to dive into it to see what we can learn about the SaaS market. We found this interesting, so we thought we’d share it here in case you do too.

This time, we decide to dig deeper in to the 300 Most Popular SaaS Products among Cledara customers to see if there’s anything to learn.

1. The 300 Most Popular SaaS Products, By Amount of Funding

When we look at the split of the top 300 SaaS companies by amount raised, it’s interesting to see how evenly distributed it is across different ranges. The fact that more than 10% of the top 300 companies have raised less than $1 million is a surprise too. These little legends broadly consist of two types of companies – fast growing young startups that are massively outperforming (more on these later) and well known bootstrappers like Basecamp, Hotjar and Mailchimp.

Things change when we look at how much revenue each bucket of SaaS companies receive from Cledara Customers (we call this GMV, but from the SaaS company’s perspective, its revenue). Companies that have raised between $100 million and $1 billion, such as Hubspot, Zoom and Segment, represent more than 35% of the SaaS paid for by Cledara’s customers.

The other remarkable thing to notice is concentration – the top 300 SaaS companies represent 99% of all SaaS spend by Cledara customers. The tail of SaaS is a long one.

2. The 300 Most Popular SaaS Products, By Year Founded

Next, we look at the top 300 SaaS companies by the year that they were founded. This chart looks a lot like a Bell Curve with a right skew. This supports an idea popular among VCs that the 2008 vintage of startups (BambooHR, Github, Twilio) was a good one, with a clear spike. It also raises an interesting question – does the right skew in the data suggest that newer SaaS companies are growing relatively faster than older SaaS companies did (or are…)?

Again, we decided to take a look at the same data, but by share of GMV, rather than number of SaaS companies. Here it looks a little more random – there doesn’t seem to be a lot of correlation between the year the company was founded and their share of the SaaS market. This perhaps supports the idea that SaaS startups is a game of outliers – some go on to grow massively (and quickly) and others grow more predictably.

3. SaaS Outliers

We wanted to take the opportunity to drill into companies that haven’t raised much (or anything), are young and seem to be more popular than companies of a similar age among Cledara customers. These companies, represent outliers in the data and therefore may be SaaS companies to watch in the future.

Blush (Founded in 2020, Seed): Blush is a marketlplace where you can create and customise illustrations from designers from around the world.

Sherlock (Founded in 2019, Bootstrapped): Sherlock is a platform that helps product-led growth companies by feeding product engagement data into your CRM.

Mailwarm (Founded in 2019, $125k raised): Mailwarm improves your email sender reputation by generating real looking email traffic and interaction among its users.

Anytrack (Founded in 2019, Bootstrapped): Anytrack is a conversion data platform that allows you to see the real time data behind your marketing funnel.

Improver.io (Founded in 2018, Boostrapped): Improver is a Chrome extension that helps you find personal emails from people's Linkedin profiles.

Airfocus (Founded in 2018, $2.2m raised): Airfocus is a roadmapping and prioritisation tool for product teams.

Lemlist (Founded in 2017, Bootstrapped): Lemlist is an outbound email platform for sales teams doing outbound sales.

Funnelytics (Founded in 2017, $1.5m raised): Funnelytics is a conversion data platform designed for marketing agencies to visualise and measure the data behind their clients' marketing funnels.

Forest Admin (Founded in 2017, $11.2m raised): Forest Admin is a customisable admin panel that tech companies can customise so that they don't have to build their own.

Join.com (Founded in 2017, Bootstrapped): Join is a lightweight applicant tracking system that makes screening candidates as easy as browsing Tinder.

Subscribe for more SaaS Insights

Join our newsletter to stay ahead of the curve in all things SaaS.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Subscribe for more SaaS Insights

Join our newsletter to stay ahead of the curve in all things SaaS.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.