These are the top SaaS companies in Iceland. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Iceland by featuring these 11 companies with combined revenues of $21.1M.
Together, Iceland SaaS companies employ over 379 employees, have raised $81.1M capital, and serve over 53K customers around the world.
11
$21.1M
379
$81.1M
Latka gets data on SaaS companies by interviewing the founders directly. Over 3,000 interviews organized in excel.
Top SaaS Companies with $0 - $1M ARR
Top SaaS Companies with $5 - $10M ARR
Supply Chain & Logistics Software
Controlant's Cold Chain as a Service® solution delivers real-time visibility, efficiency, and responsiveness to global supply chains.
Artificial Intelligence Software
Developer of a financial platform intended to detect suspicious behavior patterns and improve review efficiency. The company's platform boost anti-money laundering surveillance team intelligence, detect complex patterns, reduce false positives, transform review processes and continuous improvement, enabling clients to shed light on money laundering with a surveillance cloud solution.
Information Technology & Services
GRID empowers every-day Excel users to turn their spreadsheets into modern web applications without learning any new skills.
Enterprise Software
Developer of cloud based financial software designed to plan and schedule resources. The company's cloud based financial software forecasts cost, revenue and profitability, enabling SMB's and large-scale enterprises to collaborate, plan and schedule resources, manage budgets and track time directly from their daily workflow.
Business Information Systems
Developer of a cloud-based software created for the shipping industry. The company's software takes care of the building and managing user's ships' performance profiles along with monitoring of their time-charter party performance through an online dashboard, enabling ship owners and charterers to keep their ships attractive to clients and the environment.
Software as a Service Platform(SaaS)
Manufacturer of electrical products intended to monitor usage down to device level for improved operational efficiency. The company's products have a built-in message broker using standard Modbus-RTU, MQTT and Modbus-TCP interfaces, as well as Ethernet and WiFi connectivity, enabling users to get reliable electrical products at a reasonable price.
Marketing Software
Developer of property management software designed to facilitate the operation and maintenance of properties. The company's software develops a platform to assist property and facility management with maintenance and operation functions, enabling customers to get a comprehensive and up-to-date overview of their property portfolio.
Enterprise Software
Greenqloud is a software company focusing on their premier software, Qstack, a leading Cloud Management Platform (CMP).
Hospitality Software
Spectaflow is a SaaS solution for accommodations businesses focused on improving housekeeping and maintenance workflows
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.