Top SaaS Companies in Bulgaria

List of the largest SaaS companies in Bulgaria (Click to apply)

These are the top SaaS companies in Bulgaria. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Bulgaria by featuring these 30 companies with combined revenues of $32.9M.

Together, Bulgaria SaaS companies employ over 606 employees, have raised $1.2M capital, and serve over 550 customers around the world.

$0 - $1M ARR
  1. CM2W $929.4K
  2. VEDAMO $927.9K
  3. Metrilo $810.0K
  4. Crypto APIs $360.0K
$1M - $5M ARR
  1. Sciant $4.5M
  2. Kanbanize $2.2M
  3. Out2Bound $1.9M
$5M - $10M ARR
  1. SoftGroup $6.7M
$10M+ ARR
    1. 01
      Accedia JSC

      Accedia JSC

      Application Development Software

      Accedia is а professional IT services company, specializing in technology consulting, agile software development, and implementation of end-to-end IT solutions for both SMEs and large enterprises. Founded in 2012 in Sofia, Bulgaria, Accedia quickly became

      $7M

      $1M

      132

      2012

      Bulgaria

    2. 02
      SoftGroup

      SoftGroup

      Computer software

      SoftGroup is a Bulgarian software company that creates technological solutions in order to prevent one of the global challenges in the field of the pharmaceutical industry, namely medical counterfeiting. This process is carried out by SoftGroup® SaTT (Ser

      $7M

      80

      2003

      Bulgaria

    3. 03
      Sciant

      Sciant

      B2B Marketplace Platforms

      Sciant is an IT solutions development partner serving specific industry sectors including Travel and Hospitality, Logistics and Transport, Finance and Banking, working worldwide for both large enterprises and fast-growth startups.

      $4M

      $37M

      93

      2016

      Bulgaria

    4. 04
      Kanbanize

      Kanbanize

      Collaboration & Productivity Software

      Provider of an online kanban platform. The company offers a web-based project management platform which allows users to better manage their processes and projects by visualizing data.

      $2M

      26

      2008

      Bulgaria

    5. 05
      Out2Bound

      Out2Bound

      Information Technology & Services

      Out2Bound is an on-demand sales-as-a-service agency that helps technology companies (software devеlopment, mobile, web, SaaS) to attract b2b clients and access new markets around the globe. We develop and execute outbound sales development strategies on b

      $2M

      23

      2016

      Bulgaria

    6. 06
      IndigoVerge

      IndigoVerge

      Development Software

      Developer of a cloud based process improvement software. The company offers a data processing application that gathers and analyzes data that helps prevent damage to or failure of off-the-shelf sensors, especially in highly automated environments such as m

      $1M

      18

      2006

      Bulgaria

    7. 07
      BusinesSoft

      BusinesSoft

      Enterprise Software

      Developer of an end-to-end software system designed to provide business management services. The company's software is offers as both SaaS and stand alone on-premise installation, enabling business management of construction, production and trade companies

      $1M

      15

      1991

      Bulgaria

    8. 08
      Connect2id

      Connect2id

      Information Technology & Services

      $1M

      16

      2010

      Bulgaria

    9. 09
      Imagga

      Imagga

      Information Technology & Services

      Provider of an image recognition platform designed to be used for advanced image analysis, recognition and understanding in the cloud. The company's image recognition platform offers proprietary image auto-tagging, auto-categorization, color extraction and

      $1M

      12

      2008

      Bulgaria

    10. 10
      CM2W

      CM2W

      Data Science And Machine Learning Platforms

      Provider of a monitoring platform. The company helps in monitoring and controlling a a wide range of hardware equipment in an uniform manner.

      $929K

      23

      2014

      Bulgaria

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    What are the fastest growing companies doing?

    83 of the fastest growing companies that also have the most revenue have a clear expansion revenue strategy. On average, sales reps are selling plans where starting contract value is $4,606.

    Those same companies employ 1,678 sales reps that carry a quota. The most common compensation plan used by these companies is a 1:5 ratio of sales rep on target earnings (OTE) to quota. Meaning if a rep can earn $200k in base and commissions, quota target for that year is set at 5x, or $1m in new ARR closed.

    If you’re going to build a high growth SaaS company, you need to figure out how to scale with quota carrying sales reps.

    Which CEO’s are the most efficient capital allocators?

    We can measure this a variety of ways. Which company has the most revenue per employee? What about dollars in revenue compared to dollars raised? What about time, which founder went from $0 to $10m the fastest?

    Looking deeper at dollars in revenue compared to dollars raised, bootstrappers take the cake because they self fund (denominator zero). When we look at companies that have raised at least $1m, Actito is the clear winner generating $21m in revenue, growing 100% yoy, on just 1m raised ($.05 dollars raised for every $1 of revenue).

    Omnisend comes in a close second with $.08 dollars raised for every dollar of revenue. Doing $19m as of December 2020. Proposify gets honorable mention with $0.46 dollars raised (3.25m) for every dollar of revenue ($7m).

    The worst performers here are companies like YayPay with $3.68 dollars raised ($14m) per dollar of revenue ($3.8m). Many of the worst performers just did a round of funding and haven’t had a chance to deploy to drive growth yet. That makes this data less valuable but still illustrative.