5The COVID-19 pandemic induced lockdowns have forced many to switch to a work-from-home culture keeping in mind the new norms of social distancing and health crisis. This has been an opportunity for SaaS startups to provide them with efficient products to ease jobs. According to Markets&Markets, divisions such as e-commerce, software-as-a-service (SaaS), healthcare, and enterprise technology are expected to heed growth and generate investment opportunities in the post-COVID-19 world.
Software-as-a-Service (SaaS) has not just expedited the existing companies to grow, but several Indian tech startups are embracing the model to manage their operations thoroughly. The ease of access offered by the SaaS-based industry has changed the view of its users. SaaS startups have witnessed a sharp growth in the market, and the technology in this space continues to develop and evolve.
Here are 5 SaaS-based companies in India that are making it big in the market.
Dockabl is a SaaS-based HR Tech startup firm found by two management professionals Samarth Masson and Sanjeev Grover. This startup strives to empower organizations to achieve better by providing continuous performance management through a set of modules that work in harmony. Through Dockabl, organizations can benefit from a continuous and real-time performance management system that serves both the growth of the organization and its employees. Policybazaar, Tata Realty, SIDBI, Becton Dickinson, Innov8, 91Springboard, Bajaj Capital, and Hero HFL are some of the renowned companies that are already working with Dockabl. This platform works effectively for all organizations, ranging from startups to huge conglomerates.
RateGain is a provider of SaaS products to travel and hospitality companies. They assist with cognitive revenue management, smart e-distribution, and brand engagement to make more revenue every day. This was tailgated by its acquisition of hospitality-focused social media provider BCV in 2019, in order to create a guest experience cloud to support hospitality chains maximize guest lifetime value. It has been profitable since its inception, the startup supports over 250,000 hotel properties globally by offering 240 billion rate and availability updates, and has over 30 million bookings as well.
Zoho is a Chennai-based SaaS that started as AdventNet and concentrated on providing network management products before entering the cloud-based business in 2009 after switching its name. Now, they have over 50 million users across 180 countries. Besides, Zoho is amongst the few companies that have remained profitable since its inception. During the COVID-19 pandemic, Zoho is exploring with 10 villages in Tamil Nadu, where 200 of its engineers, 20 in each village, will collude and develop software for the world. These feeder offices are located 20-30 kilometers away from their hometowns.
Druva can be simply described as an all-in-one data protection provider. It was founded in 2008 by Jaspreet Singh along with Milind Borate. Druva offers comprehensive data protection to its customers by rendering services like data recovery, data migration, ransomware protection, and cloud backup on request. This startup has helped more than 4,000 customers to protect their data, while also drawing down the high costs involved with data security, by excluding the need for all the unnecessary hardware.
CleverTap is found in 2013 by Anand Jain, Suresh Kondamudi, and Sunil Thomas. CleverTap is a mobile marketing startup that utilizes artificial intelligence and machine learning to encourage user retention by providing personalized customer experience based on their requirements. It was earlier known as WizRocket. CleverTap signed their first customer in 2014 and presently has over 8,000 customers across 100 countries. The startup affirms to have served its customers to gain $2 billion in incremental revenue. CleverTap Team has also appropriated $76.6 million from investors like Accel, Sequoia Capital, and Tiger Global.