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List of the largest SaaS companies in China

Top SaaS Companies in China

These are the top SaaS companies in China. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for China by featuring these 701 companies with combined revenues of $6.6B.

Together, China SaaS companies employ over 45K employees, have raised $17.1B capital, and serve over 3B customers around the world.

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Highlights

01
$2B
$349M
114M
1K
2011
China
02
Y
Youku

Authoring And Publishing Software

Provider of an Internet television platform. The company's platform enables consumers to search, view and share quality video content quickly across multiple devices.

$650M
$120M
500M
349
2014
China
03
PW
Perfect World

Information Technology Software

Perfect World is a publisher of online multiplayer games in North America. It connects various gamers by enabling them to interact with other players globally and specializes in immersive free-to-play MMORPGs.

$604M
$34M
26K
2K
2004
China
04
eBT
eBaoTech

Finance Software

eBaoTech® is a technology solution provider for global insurance industry with a company mission to “make insurance easy”.

$336M
$36M
-
2K
2000
China
05
U
Uxin

E-Commerce Software

Operator of a second-hand car auction platform. The company operates an online platform for used car auctions. It also owns six centers, offering auctions and after sales services.

$228M
$960M
-
895
2011
China
06
C
Chenzhi

Education Software

Chenzhi is an educational service provider.

$217M
-
-
5K
2017
China
07
Q
Qunar.com

Travel Software

Provider of online travel search engine for business and leisure travelers. The company helps consumers find and compare flights, hotels, packages and other travel services.

$155M
$390M
-
3K
2005
China
08
IA
IngageApp

CRM and Related Software

Xiaoshouyi develops software solutions for customer relationship, sales force, and workforce management. IngageApp provides a next-generation CRM solution by leveraging mobile social platform and big data technologies. With its SaaS and PaaS framework, the solution empowers users to engage, sell and provide services to their customers through a seamlessly integrated end-to-end process from marketing automation, sales automation, partner relationship management, to customer and field services. Founded in 2011, in 2017 IngageApp became the first Chinese CRM vendor to be named in Gartner Magic Quadrant for Sales Force Automation (SFA). More than 4,000 companies in over 20 industries use IngageApp to grow their business. Founded by Allan Shi, IngageApp is based in Beijing, China with offices across China and an R&D center in the Silicon Valley. IngageApp has raised several rounds of venture funding from leading investors like Sequoia, Tencent and Matrix Partners.

$131M
$195M
-
2K
2011
China
09
GSHE
Glodon (SHE: 002410)

Construction Software

Developer of a construction budgeting software designed to focus on the entire life cycle of the construction projects. The company's construction budgeting software offers quantity take-off, cost estimate, tendering documents management, evaluation and project management services enabling the civil building, industrial engineering and infrastructure industries to avail professional software products and services.

$99M
$3M
380K
1K
1998
China
10
S
Souche

B2B Marketplace Platforms

Souche, a leading automotive new retail platform in China, is founded by Mr. Yao Junhong, the former CAR Inc. founding team member and vice president, in December, 2012. By August 2018, Souche raised over $1.2 billion from investment or ganizations, including Alibaba group, Ant Financial Services Group, Morningside Venture Capital, Warburg Pincus, Primavera Capital Group, etc. Souche joined '2017 New Global Unicorns Ranking' by Silicon Valley global research organization PitchBook. Souche thrives to become the big intelligent brain of automotive industry. Souche has gradually constructed integrated automotive new retail ecosystem through years of development. Souche is regarded as 'the Alibaba of Chinese automotive industry'. Today, Souche and its relative corporations dedicate in numerous businesses, which include automotive financial leasing platform Tangeche, B2B industrial chain service platform Chehang168, Used-car online trade platform Cheyipai, Car sharing customized platform TIHD, SaaS products for used-car automotive dealers Dafengche and new-car sub-channels automotive dealership network Maicheguanjia, automotive dealership group ERP system provider Breakthrough, Kingdee and automotive supply chain warehouse logistics integrated service provider Iyunche, etc.

$94M
$1B
110K
1K
2012
China
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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.