Software as a Service, or SaaS as it is more popularly known as has steadily grown and helped transform the way businesses operate today. The growth of SaaS has been such that it is estimated that by the end of 2022, 83% of the total work will be done via cloud. According to a report by Bain & Company, it is estimated that by 2025, Indian SaaS companies will reach around $30 billion in revenue. This further indicates that the Indian SaaS companies can capture around 8%-9% of the international SaaS market share. Today, businesses from various sectors – healthcare, education, finance, wellness, etc., use SaaS products which have helped in boosting their business and increasing the market for more SaaS companies. With the demand for SaaS companies ever-increasing, customers have no dearth of options for choosing the best SaaS company for their business.
Table of Contents
How does a SaaS Company work?
So, what is SaaS? It is essentially a cloud-based service that hosts various applications and makes them available for the customers over the internet. This means that the software or application is available on the SaaS company’s server, and the customers or users can access them remotely. The SaaS company is responsible for maintaining the servers, databases, and software so that users can access them over the internet. The SaaS model enables users to access this software from any device and at any time. In order to use this software and applications, the users need to pay a subscription fee to the company, mostly on a monthly basis. The subscription fee also depends on various factors like the amount of data that needs to be stored, how many users will be accessing the software, how much technical support is required, etc.
Different types of SaaS Companies
SaaS companies can be categorized into different types based on their business functions. Some of the popular types of SaaS companies include:
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
- Accounting and Invoicing
- Project Management
- Web Hosting and e-Commerce
- Human Resources
- Data Management
Key Benefits of Using a SaaS model
Here are some of the key benefits of using a SaaS model.
- It offers more stability and predictability as it is easier to predict revenues based on fixed subscription fees.
- There is no risk of piracy as the SaaS companies do not sell the software license; rather, they provide it based on subscriptions or pay-by-use basis.
- One of the key benefits of using a SaaS model is that it is completely automatic, which means that the system continues to work 24/7, allowing you to earn revenues even when you are not actively using the system.
- The SaaS model offers a lot of customization options allowing each user/company to customize the software as per their requirements.
Top 20 SaaS companies in India in 2022
Now that you have an idea of how SaaS companies work, what are the different types of SaaS companies, and some of the key benefits, let’s take a look at this list of top 20 SaaS companies in India in 2022.
CloudCherry
CloudCherry is a cloud-based CRM company that helps businesses track, monitor, and enhance their customer engagement. This is done by collecting omnichannel feedback, measuring Net Promoter Score, mapping customer journey, etc. This company offers several features, with predictive analytics and integration with customer engagement models being two of its core features. Users will also have access to Customer Delight Meter, a statistical model which enables them to quantify the customer satisfaction experience by mapping their customer journey and collecting timely feedback. Some of its top-selling products include CX Library, EM Open API Explorer, and Questionnaire Builder.
Some of the key services offered by CloudCherry include:
- Predictive Analytics
- Dashboards
- Integrations
- Text Analytics
- Key Metrics
- Question Builder
- Actionable Insights
- Customer Journey Map
Founded: 2014
Customer Reach: Global
Visual Website Optimizer (VWO)
Visual Website Optimizer, or VWO as it is popularly known as is one of the best SaaS software that enables various teams like marketing, UX, analytics, product, engineering, etc., to identify growth opportunities and act on them. VWO has a strong team of optimization strategists, content creators, conversion-centric designers, etc. The software basically offers companies a platform for web testing and conversion optimization. With VWO A/B testing, users can set up tests according to their preferred parameters. The software specializes in A/B Testing, Server side Testing, Website Optimization, Landing Page Optimization, UX Research, etc.
Founded: 2009
Customer Reach: Global
Zoho
Zoho is one of the most popular and top SaaS companies in India that offers a wide range of services like Zoho CRM, inventory management, a collaborative client portal, and more. It has products suitable for various business segments, including marketing, finance, recruitment, sales, collaboration, support, accounting, etc. This Indian-based SaaS company caters to almost 75 million people around the world through its 50+ products, enabling clients to focus on their business. Zoho’s list of products includes Zoho Analytics, Zoho Campaigns, Zoho CRM, Zoho Desk, Zoho Expense, Zoho People, Zoho Projects, Zoho Recruit, Zoho Remotely, and Zoho Survey.
Founded: 1996
Customer Reach: Global
Agile CRM
Agile CRM is an all-in-one CRM software built especially for SMB companies. It offers a fully-integrated sales, marketing, and service suite. This robust CRM software comes equipped with a comprehensive set of features, such as project management, contact management, sales and marketing automation, social media marketing, email tracking, customer service, etc. The software offers a unified platform to the users, thus, enabling them to streamline their tasks, improve collaboration and communication, and enhance their overall productivity and efficiency. This end-to-end comprehensive CRM software assists small and medium businesses to better manage their customer lifecycle and drive them towards scalable growth.
Founded: 2013
Customer Reach: US, UK, Australia
Freshworks
Freshworks is a SaaS company that offers customer engagement solutions to businesses of all sizes and types. This robust software has several products like Freshdesk, Freshsales, and Freshconnect. Businesses can take advantage of the services offered by Freshworks to engage with their customers on every step. Their product Freshdesk enables different segments of the business, such as sales, marketing, customer support executives, etc., to communicate better with their customers. This is a great software that offers a 360-degree view of the customers and all their interactions on one single platform. Businesses can easily customize the software to suit their business requirements.
Founded: 2010
Customer Reach: Global
Playtonia
Playtonia is an e-sports SaaS company that offers a comprehensive platform for online gamers to connect and develop communities. This SaaS company is a great platform for gaming enthusiasts who can play the various games organized and promoted by the software. Users can either register as individual players or team players and also win cash prizes and gifts as rewards. With the help of Playtonia, players can play and compete with other players located anywhere in the world and at any time. This SaaS company is also into building gaming certifications, gaming cafes, building an e-sports VR academy, e-sport events, and gaming incubation cells.
Founded: 2016
Customer Reach: Asia-Pacific
Chargebee
If you are looking for one of the best SaaS companies to streamline your revenue operations, then Chargebee is an ideal option. This subscription billing and recurring payment software are suitable for companies in the business of providing subscription-based services. Companies can seamlessly integrate Chargebee with any major payment gateways and perform key functions like automation of payment collection, successful payment notifications, invoicing, etc. It offers comprehensive insights on reporting, analytics, and intelligence, enabling businesses to devise growth-based strategies. Businesses can also use the tool to perform financial analysis by examining payments, refunds, and credit notes. Some of the key services offered by Chargebee include invoicing, recurring billing, payment gateway, customer portal, Tax profiles/reports, custom user roles, etc.
Founded: 2011
Customer Reach: Global
HackerRank
HackerRank is a SaaS company that offers tech-hiring solutions for businesses that focus on remote hiring. Using this platform, recruiters can evaluate the technical skills of the candidates to select the right candidate. Some of the major functionalities of this SaaS software include an automatic scoring system, detailed reports, code diff, git history, etc. With the help of HackerRank, recruiters and hiring managers can objectively evaluate the candidates at every step of the hiring process. Some of the top-selling products of this SaaS company include HackerRank Code Screen, HackerRank Code Pair, HackerRank Insights, HackerRank Interview, and HackerRank Screen.
Founded: 2012
Customer Reach: Global
Ziplr
Ziplr is a SaaS company that offers a technical platform to resolve any URL-related issues, shorten URLs, online branding, and gather statistics related to your website’s social distribution. This cloud-based SaaS model enables companies to improve their brand recall, online branding, and visual data representation related to their customers – all with the help of data analytics and data visualization. Some of the highlights of this enterprise-wide solution include multi-channel reach, smart segments, and marketing analytics.
Founded: 2015
Customer Reach: Global
Hippo Video
Hippo Video is a SaaS company that offers a customizable video distribution platform that businesses can use to produce personalized video content and distribute them across multiple channels. This personalized video distribution platform enables businesses to engage with their customers more effectively. By engaging with customers through personalized videos, businesses can increase their conversion rates. You can use the software to create personalized videos at different stages in your business. The software specializes in online video platforms, video editors, video marketing, video engagement, customer support, video analytics, and more. This one-of-a-kind software ensures that businesses have access to a simple-to-use, video-creating platform that will enable them to make a greater impact on their customers.
Founded: 2016
Customer Reach: Global
KlentySoft Inc
The next SaaS company in our list of top 20 SaaS companies in India is KlentySoft Inc, a sales engagement platform that enables marketing teams to send out personalized emails to potential leads and automate follow-ups. The sales team is often involved in repetitive tasks like sending cold emails, tracking engagement metrics, follow-ups, etc. By taking advantage of this software, the sales team can focus on more productive activities like building strong customer relationships, closing deals, etc. This software can also be integrated with various CRM’s like Salesforce, HubSpot, Pipedrive, etc. Some of the key features of KlentySoft Inc include sales cadences, automated emails and calls follow-ups, analytics and intelligence, prospect list management, etc.
Founded: 2016
Customer Reach: Global
Capillary Technologies
Capillary Technologies is a SaaS company that develops customized, cloud-based analytical tools and marketing platforms for businesses of all types and sizes. Using these platforms, businesses can gain deeper insights and understanding of their consumer behavior. Some of the key offerings of this software include end-to-end loyalty programs, a comprehensive view of consumers, unified, cross-channel strategies, and more. The software uses a combination of machine learning and artificial intelligence to engage with its customers via personalized communications, reward and retains their loyal customers, provide seamless commerce experiences, etc. Some of their key products include Anywhere Commerce+, Engage+, Insights+, Loyalty+, and Smart Store+.
Founded: 2008
Customer Reach: Global
Unbxd
Unbxd is yet another popular SaaS company that uses Artificial Intelligence and advanced data sciences to develop e-commerce search platforms. Providing shoppers easy access to the products they desire, it enables companies to boost the chances of their product purchase through actionable predictive insights. Trusted by over 1,300 e-commerce websites globally, some of the key benefits offered by this software include better customer retention, improved product delivery, and increased product value. With the help of powerful algorithms, this software offers personalized shopping solutions to customers.
Founded: 2010
Customer Reach: Global
LeadSquared
Businesses of all sizes and shapes can take advantage of LeadSquared – a CRM and marketing solution. Businesses belonging to different industries – be it education, hospitality, e-commerce, wellness, marketing, or finance, can use the software and products provided by LeadSquared to automate their various tasks like marketing, CRM reporting, lead capturing, etc. This, in turn, will enable them to spend their time and efforts on more productive tasks. Some of the key benefits of using LeadSquared include reduced lead leakage, complete sales tracking, a comprehensive CRM platform, automation of marketing and sales processes, etc. The top three products offered by LeadSquared are LeadSquared CRM, LeadSquared Marketing Automation, and LeadSquared Field Force Automation.
Founded: 2011
Customer Reach: Global
Whatfix
Whatfix is an award-winning SaaS-based digital adoption platform suitable for businesses ranging from small to medium to large. This SaaS-based company essentially provides the users with inline help, thus, avoiding the need to connect with customer support teams or go through detailed how-to guides and blogs. Rather with the help of this software, businesses can provide guidance to their users in the form of screen tips, balloon instructions, etc., which makes it really seamless to work with the various products and applications. This software offers a wide range of features with easy integration, with all user applications being one of its key features. With Whatfix, you can create guides in different formats like charts, slideshows, infographics, articles, videos, and scripts.
Founded: 2013
Customer Reach: Global
Exotel
Exotel is one of the largest SaaS-based companies offering business telephony solutions, especially for small and medium businesses. With the help of Exotel, businesses can ensure seamless customer support and streamline their voice communication, making it more efficient and productive. With the help of Exotel, you can build a strong and reliable business communication system. Some of the highlights of this software include API integration with your CRM platform, SMS integration, call recording, bulk SMS and calls, and a multi-level IVR system. With this software, businesses can set up their virtual phone numbers without requiring any additional equipment or infrastructure.
Founded: 2011
Customer Reach: Global
Hotelogix
As the name suggests, Hotelogix is one of the top SaaS-based companies that assist companies in managing their hotels and properties in different locations via cloud-based services. There is a lot that you can do with this software, such as simplify your hotel operations, boost your bookings to increase the revenues, reach a wider target audience, effective distribution of resources, property management, and more. Businesses can use Hotelogix to organize multiple POS outlets via a single dashboard. Some of the key features of this software include 100+ automatically generated reports, pricing and revenue management, mobile PMS, multi-lingual, and more.
Founded: 2008
Customer Reach: Global
FourKites
FourKites is a SaaS company that offers a supply chain visibility platform that enables organizations to have access to accurate visibility of their overall operations and business. With the help of predictive supply chain solutions, businesses can track their business and visibility in real-time across various digital platforms. You can perform a wide range of functionalities using FourKites, such as using the live data platform to calculate active loads, identify potential exception management savings, predict shipment delays, and more. With the help of this software, businesses can reduce their operating costs, boost efficiency, and build stronger customer relationships.
Founded: 2014
Customer Reach: Global
WebEngage
WebEngage is a startup SaaS company that develops marketing automation software. With this software, businesses can retain and enhance the revenues from their existing clients, boost cross-channel user engagement, segment customers and engage with them as appropriate, etc. Companies can use WebEngage to create personalized campaigns for their Push Notifications, SMS, Emails, In-app messages, etc. Some of the key services offered by this SaaS company include analytics, segmentation, engagement, personalization, and journey design. This software is ideal for use by businesses across industries like Fintech, Foodtech, Gaming, Healthcare, e-Commerce, etc.
Founded: 2011
Customer Reach: Global
Kayako
Kayako offers a unified customer service platform, enabling businesses to provide better and enhanced customer service and grow their operations. Suitable for use by businesses of all sizes, Kayako is one of the best SaaS-based companies that can help teams become more efficient in delivering effortless customer service experiences. From providing top-notch customer support to offering shared inboxes, to help desk ticketing services – this tool offers all this and more. The software has been designed to provide 24/7 customer support in multiple languages.
Founded: 2001
Customer Reach: Global
Conclusion
The demand for SaaS tools is definitely going to pave the way for more SaaS companies in India. This list of top 20 SaaS companies is just the beginning as more and more SaaS companies continue to make a breakthrough in this ever-evolving market. To know more, do check out our article on SaaS Companies in India that got Funding in 2022.
