Companies That Got The Biggest SaaS Funding In 2021

From just 11 public SaaS companies in 2011 to more than 15,000 in 2021, SaaS has escalated the IT landscape phenomenally; but, none of this happened overnight. From an idea to a giant startup, scaling comes at the cost of a herculean cycle of funding.  Read on to find the Biggest SaaS Funding that happened in 2021.

Biggest SaaS Funding that the World witnessed in 2021

MessageBird

With headquarters in Amsterdam, MessageBird is the omnichannel that can be found on every next mobile phone across the globe. This communications platform received Series C extension funding of $800 million from Eurazeo.

It aims to build a seamless connection between businesses and customers, a communication that can be executed in a single click. This versatile platform includes almost all kinds of communication services, including SMSs, Voice messages, Emails, Whatsapp, Instagram, Messenger, Google’s business messages, Push Notifications, WeChat, and many others.

One of the remarkable features of MessageBird is AES-256 encrypted video scheduling options that ease healthcare teleconsultation, banking visits, insurance appointments, and public sector administrative meetings. Transcriptions, call analytics, document, and screen sharing are some of the attributes of this amazing feature.

MessageBird unifies several channels of communications and streamlines them to a singular line of code.

 UiPath

Founded in 2005 with headquarters in Romania, UiPath is a software company that leverages Robotics Process Automation(RPA). It received a Series E funding of $750 million from Alkeon Capital and Coatue.

The key technology of UiPath is RPA which aims to declutter repetitive tasks, smoothen the process of digital transformation, support non-API-enabled systems, and expedite the virtual desktop infrastructure. 

 Some of its products and services are listed below-

1. UiPath Document Understanding has the feature of reading screens; thus, digitizing the healthcare sector with its efficient diagnostic abilities, reducing the burden of healthcare workers
2. Empowers the IT infrastructure with its automated onboarding process, system maintenance, simplifying hybrid technologies, and reducing manual tasks
3. Runs 360-degree audit trials to avoid last-minute hassle with its amazing drag and drop Artificial Intelligence features
4. With 200% higher factory output and 10-40% reduced operating funds, RPA automates research and development operations, establishing a non-stop saga between supplier and customer
5. The iconic duo of RPA and AI streamlines the maneuvers of  banking and financial sectors, ensuring lower revenue leakage and risk exposure

The company proved its worth even in the tough pandemic times via its RPA robots which contributed significantly to COVID testing centers around the globe. It has a huge customer base, which includes Security Benefit, Bristol Water, Patelco Credit Union, Defra, and many more.

    Stripe 

The Irish- American SaaS company, Stripe offers payment processing software for all kinds of businesses and is trusted by many fortune organizations like Amazon, Slack, Zoom, Shopify, etc. It received Series H funding of $600 million from Baillie Gifford. Its total funding reached $2.2 billion in 2021.

Stripe offers the following products-

1. Payments: Includes online payments, pre-built payment pages(Stripe Checkout), no code payments, customizable payment user interfaces, online invoicing, and subscription management services. 
2. Financial Services: Offers APIs to create personalized virtual and physical cards with dynamic spending limits.
3. Business Operations: Trusted by Fitbit, Radar provides three-dimensional security from risks to all businesses operating on ML. Stripe Atlas offers a secure platform for budding startups to scale their idea via its financial tools and free credits. Other services include sales and VAT automation, online identity verification, and custom reports.

Stripe is a complete package of solutions for any company looking for payment problems.

Fivetran

One of the simplest ETL tools, Fivetran is a one-stop solution to replicate your data with minimal user configuration. This California-based company is an automated data integration platform that received series D funding of $565 million from Andreessen Horowitz(a16z).

Easing the database replication process, Fivetran employs automatic schema drift handling and mapping to create the requested format of the database. External data integration builds reliable connections between customers and businesses without revealing their credentials.

Helios, CaliberMind, and CrossMedia utilized Fivetran to ease their day-to-day data warehousing.

Snyk

A developer security platform, Snyk received $530 million in the Series F round of funding from Sands Capital and Tiger Global Management. 

Snyk is trusted by coders who work on open source platforms and prioritize the security of their code. It offers the following services-

1. Snyk security intelligence executes live scanning of the code as it is developed in IDE or CLI, fixes it instantaneously, and maintains a smooth workflow.
2. Snyk Code is a developer-friendly Static Application Security Testing that performs semantic analysis of the code and filters the bugs in it.
3. Native Git Scanning feature ameliorates Snyk to several repositories where the code is developed.
4. Continuous AI Learning modulates Snyk code AI engine and Snyk Security Expert to develop machine learning-based training data sets.
5. Snyk Infrastructure as Code(IaC) and Snyk Container are other features that support AWS CloudFormation, Azure Resource Manager, and Kubernetes.

Snyk is trusted by many companies such as Slack, AWS, RedHat, etc.

Lacework

Lacework is a data-driven security platform for the cloud. It received funding of $525 million in the growth round from Sutter Hill and Altimeter Capital.

Lacework proudly acknowledges its hallmark technology, namely Polygraph, as the only security solution which can multitask efficiently across multiple organizations like Amazon Web Services(AWS), GCP, Kubernetes, and Azure.

Some of its services are as follows-

1. Behavioral Anomaly Detection: Polygraph analyzes the vulnerabilities and develops native hierarchical patterns which are analogous to the native system. Any deviation from the normal pattern is immediately managed as a triage.
2. File Integrity Monitoring:  Advanced file intelligence system monitors the data entering and exiting the cloud platform, narrowing the old and new content and simultaneously checking up for any kind of malicious file.
3. Host Vulnerability Monitoring: The unique telemetry feature of lacework filters all sorts of vulnerabilities in the systems in collaboration with Infrastructure-as-code Integrations to track the feedback loop.

The legendary partnership between Lacework with other SaaS platforms like New Relic and Snowflake lets the users enjoy the benefits of the two in a single SaaS service, enabling better risk response, enhanced innovative tools, and higher speed with quick risk management.

  Service Titan

Launched in 2012, Service Titan recently crossed 200 million in ARR. It is a field force automation software that empowers home and commercial service companies. The company bagged series F funding of $500 million from the H.I.G Growth partners, making it the total funding of $899.9 million.

Service Titan has been widely acknowledged for revolutionizing the sales in residential, electrical, plumbing, HVAC(Heating, Ventilation, and Air Conditioning), and related field service businesses. Some of its products are listed below-

1. Revenue Growth: Customer booking software that lets the CSR know client’s details before coming on the line, a Marketing scorecard to evaluate the statistics of advertisement and suggest better approaches to escalate the ROI, and Local service ads that enhance the company’s visibility on Google.
2. Real-time Insights: 360-degree analytics with live metrics, KPIs, and statics that can help companies to develop better strategies. Automated job costing to build reliant teams.
3. Operation Streamlining: Service titan automates dispatching to avoid last-minute panic, schedules tasks in advance, and manages payroll and timesheets efficiently.

From accounting to inventory management, Service Titan relieves its users of manual calculations and efforts, saving time and increasing ROI.

 Snowflake 

Snowflake is a cloud-based data management software for all sizes of enterprises, ranging from small businesses to corporate companies. It received the Series G funding of $479 million from the Dragoneer Investment Group.

The California-based company provides the following services

1. Financial services to mitigate risks
2. Healthcare solutions to improve diagnostic efficiency
3. Educational advancements to accelerate technological up-gradation in teaching the next generation
4. It also deals with retail and CPG to strengthen an enterprises’ visibility within its domain along with supply chain and inventory management.
5. Manufacturing automation via robotics and IoT is one of the several other solutions provided by Snowflake.

It has also gained fame for its high-tech security and responding system that works following HIPAA(Health Insurance Portability and Accountability Act), HITRUST, PCI DSS, SOC-1 and 2, and FedRAMP requirements.

With a 173% revenue retention rate, Snowflake is leading the data management sector like a pro.

 HighRadius

Hailing from the finance and accounting domain, HighRadius is a cash collection software. It received Series C funding of $475 million from Frank Slootman. 

It is known for its autonomous software that brings in Artificial Intelligence, Machine Learning, Rapid Automation Processes, and Natural Language Processes under one single room. Some of its services are listed below-

1. Autonomous Receivables: This AI-based feature reduces DSO with its automated payment date predictor. Dispute validity predictor ameliorates the net recovery rate, and Blocked order predictions let the user manage orders judiciously. It also includes the ERP Payment Gateway, which accepts almost all kinds of virtual credit and debit cards.
2. Radius One A/R Suite: With features like fast track collections and zero-touch cash postings, manual efforts are reduced to the minimum. Besides, all data is automatically shifted to the ERP system. Real-time credit risk monitoring eliminates the bad-debt silos.
3. Autonomous Treasury: HighRadius, in collaboration with the Rivanna AI system, offers two amazing features under this service, namely Cash forecasting and cash management.
4. Autonomous Accounting: Automated Reconciliations and financial close by the month-end with 360-degree analysis of the general ledger accounts to avoid any deviations from the normal.

HighRadius is trusted globally by giants like Medline, Ferrero, Uber, Sony, Bright Star, and many more.

 Netskope

A cloud and mobile security platform, Netskope bagged $340 million funding from the Sequoia Capital Global equities in 2021. The SASE(Secure Access Service Edge) leader is widely known for its data-centric, high-speed services that manifest data safety as its core principle. 

Some of its solutions and services include 

1. Advanced Analytics gauges the risks and calculates the effectiveness of the security systems.
2. Cloud and Security Broker protects from cybercriminals and manages the influx of data in and out of the systems.
3. Next-Gen Secure Web Gateway amalgamates CASB, DLP, and SWG into a single control system with inquisitive features like custom reporting and enriched metadata for ad-hoc queries.
4. Cloud-Based Zero Network Trust Access offers seamless connectivity with public and private resources for verified users from anywhere around the world. This is popularly labeled as “identity-aware precision access.”
5. Cloud Security Posture Management merges the API-enabled commands with the real-time monitoring technology to identify risks on cloud systems instantaneously.

Netskope is uplifting cloud surveillance systems by empowering the SASE architecture. It also has several golden badges to its name, including the prestigious 2021 Gartner Peer Insights Customers’ Choice for Secure Web Gateways with the maximum rating of Customers’ Choice recipients.

These are the top SaaS Fundings of 2021. Check out SaaSworthy Blog to find out the most talked-about Acquisitions this year!