These are the top SaaS companies in Nicosia, Cyprus. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Nicosia by featuring these 4 companies with combined revenues of $7.4M.
Together, Nicosia SaaS companies employ over 93 employees, have raised $2.7M capital, and serve over 5M customers around the world.
Latka gets data on SaaS companies by interviewing the founders directly. Over 3,000 interviews organized in excel.
3CX is a software-based private branch exchange based on the SIP standard.
Financial Services Software
Operator of a banking software company. The company is involved in he development of comprehensive banking software's for corporate banking, retail banking, private banking, electronic money institutions, financial and payment institutions around the globe.
SWiP - payment & loyalty tech platform focused on small and midsize businesses allowing to return/retain customers based on BI and AI tools
Digital Advertising Platforms
Provider of online marketing services. The company offers online promotion of various products and advertising services through cloud based platform.
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.