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List of the largest SaaS companies in Estonia

Top SaaS Companies in Estonia

These are the top SaaS companies in Estonia. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Estonia by featuring these 92 companies with combined revenues of $337.5M.

Together, Estonia SaaS companies employ over 4K employees, have raised $477.1M capital, and serve over 146M customers around the world.

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Highlights

Top SaaS Companies with $5 - $10M ARR


02
C
Cleveron

Supply Chain & Logistics Software

Cleveron offers automated parcel delivery solutions.

$45M
$89K
2M
132
2007
Estonia
03
H
Helmes

B2B Marketplace Platforms

Helmes is an international software house with headquarters in Tallinn, clients across all Europe and development centers in Estonia and Belarus. Our clients are the leading telecom operators, banks and insurance companies, logistics corporations and government institutions like TeliaSonera, SEB, NasdaqOMX, Audatex, Kuehne + Nagel and OECD to name a few. Our partners trust us the design, development, and maintenance of their most business-critical software solutions and the most complex system integration projects. Our consultation is also valued when it comes to launching new e-services or online self-service development. In Helmes, things are done on purpose. We share useful ideas and create an environment of inspired development. Armed with an innovative and entrepreneurial mindset, we create solutions to be proud of. Step-by-step building trust with our partners, Helmes has shown stable growth for over 20 years. Today, with more than 540 specialists working full time for Helmes,

$27M
-
93M
278
1991
Estonia
04
V
Veriff

Security Software

Provider of a web and mobile identity verification platform intended to offer web-based identification services. The company's platform offers a secure authentication, cross-platform technology that helps to detect fraud as well as helps any website or mobile application to verify drivers license, passport and other identities, enabling the commercial sectors to improve fraud prevention and compliance with KYC regulations.

$13M
$92M
40
246
2015
Estonia
05
SWG
Startup Wise Guys

Information Technology & Services

Startup Wise Guys is a mentorship-driven accelerator program for early stage b2b startups, providing seed capital, office space and mentoring facilities. It was founded in 2012 and runs an intensive 3 month accelerator program which is focused on validating, developing and selling products to business customers.

$13M
$11M
185
157
2012
Estonia
06
X
Xolo

Financial Services Software

Developer of enterprise management platforms designed to simplify the process of managing a company. The company's platforms provide optimal business structure, company registration online, remote administration, convenient account setup, access to global payments, secure online banking, currency risk management, and fair and simple taxes, enabling entrepreneurs to launch and manage their enterprise in a smart, fast and hassle-free way..Leading global SaaS for freelancers

$6M
$31M
6K
90
2015
Estonia
07
i
imove

Automotive

imove is a mobility concept that eases the life of car owners, users of public transportation and other forms of transportation. It also builds an eco system for the traveller - building value for both the customer and imove’s partners. In the autumn of 2018 imove launched a car subscription service that gives the user full flexibility and no hassle. Benefits for the user includes access to a fleet of attractive electrical cars for everyday use, and the flexibility to change to another car such as a SUV when they want to. imove is a new generation cartech company, filled with tech-savvy people passionate about cars. We focus on simplicity, transparency, flexibility and being environmentally friendly.

$4M
$24M
-
47
2018
Estonia
08
PP
PlasmaPro

IOT software

PlasmaPro OÜ is a certified  company offering laser, plasma, gas and round pipe cutting (max. 600mm) of sheet metal  .

$4M
-
-
14
2015
Estonia
09
KMRP
Katana MRP

Information Technology & Services

Katana is the #1 modern manufacturing & inventory software (Manufacturing ERP) for scaling businesses.

$4M
$16M
-
40
2017
Estonia
10
ML
Mobi Lab

Development Software

Customer experience design agency for mobile

$2M
-
-
5
1972
Estonia
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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.