Top SaaS Companies in Estonia

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

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 80 companies with combined revenues of $367.7M.

Together, Estonia SaaS companies employ over 4K employees, have raised $806.4K capital, and serve over 186M customers around the world.

$0 - $1M ARR
  1. LEGID $980.0K
  2. Weekdone $900.0K
  3. Avokaado $840.0K
$1M - $5M ARR
  1. Xolo $5.0M
  2. imove $3.9M
  3. PlasmaPro $3.9M
  4. Mobi Lab $2.4M
$5M - $10M ARR
    $10M+ ARR
    1. Cleveron $78.5M
    2. Helmes $26.8M
    3. Veriff $13.5M
    1. 01
      Bolt Technology

      Bolt Technology

      Delivery Service Software

      Bolt is a transportation platform providing ride-hailing, micromobility, and food delivery services.

      $182M

      $275M

      50M

      2K

      2013

      Estonia

    2. 02
      Cleveron

      Cleveron

      Cleveron offers automated parcel delivery solutions.

      $79M

      $89K

      2M

      229

      2007

      Estonia

    3. 03
      Helmes

      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 gover

      $27M

      93M

      278

      1991

      Estonia

    4. 04
      Veriff

      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 mob

      $13M

      $92M

      40

      246

      2015

      Estonia

    5. 05
      Startup Wise Guys

      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 validatin

      $13M

      $11M

      185

      157

      2012

      Estonia

    6. 06
      Xolo

      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

      $5M

      40M

      59

      2015

      Estonia

    7. 07
      imove

      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

      $4M

      $24M

      47

      2018

      Estonia

    8. 08
      PlasmaPro

      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

    9. 09
      Katana MRP

      Katana MRP

      Information Technology & Services

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

      $4M

      $16M

      40

      2017

      Estonia

    10. 10
      Mobi Lab

      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.