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List of the largest SaaS companies in Indonesia

Top SaaS Companies in Indonesia

These are the top SaaS companies in Indonesia. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Indonesia by featuring these 62 companies with combined revenues of $2.9B.

Together, Indonesia SaaS companies employ over 22K employees, have raised $361.9M capital, and serve over 60M customers around the world.

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Highlights

Top SaaS Companies with $5 - $10M ARR


01
BNI
Bank Negara Indonesia

Financial Services Software

PT Bank Negara Indonesia Tbk is an Indonesian state-owned bank, with the government holding just over half of the bank's outstanding shares. BNI's main banking activities include deposit-taking, providing credit, issuing debt instruments, money transfer services, secondary market services, wholesale banking, custody banking, capital investment, and other services. Its business segments include business banking, consumer banking, and international banking and treasury. Most of the bank's operational presence is in Indonesia, but it has some credit exposure to other parts of Asia, the United Kingdom, and the United States.

$3B
-
20K
18K
1946
Indonesia
02
SIRCLO
SIRCLO

E-Commerce Software

SIRCLO is a developer of a website building platform used to create a comprehensive e-Commerce service that can facilitate online sales.

$46M
$11M
4K
514
2013
Indonesia
03
M
Mekari

HR Software

Mekari is a SaaS company based in Indonesia. Products include Talenta, Sleekr, Jurnal, and KlikPajak.

$43M
$71M
300K
957
2015
Indonesia
04
S
Shipper

DevOps Software

Shipper is a logistics platform that helps freight forwarders to deliver goods easily.

$39M
$88M
300K
400
2019
Indonesia
05
M
Majoo

Marketing Software

Majoo is an Indonesian business software-as-a-service provider.

$31M
$14M
-
447
2019
Indonesia
06
EF
Eden Farm

Delivery Service Software

Delivering fruits and vegetables to multi-segment restaurants and grocery stores in Indonesia. We wo...

$11M
-
-
113
2019
Indonesia
07
R
Ritase

Supply Chain & Logistics Software

Provider of a truck logistics digital platform intended to connect ERP system to varied logistics companies. The company offers O2O truck freight platform that integrates service to trucker and shipper real time by directly monitoring through a detailed real-time reporting system, enabling businesses to have a periodic automatic report containing the number of profits obtained from truck delivery service.

$11M
$13M
-
129
2017
Indonesia
08
w
waresix

Supply Chain & Logistics Software

Provider of an online platform intended to offer on-demand warehouse services. The company's platform connects business owners with professional warehouse operators so that they can receive features like consolidation of inventory in different places, documentation management and billing for various parties, enabling customers like retailers, distributors and manufacturers to quickly adjust to variable requests with the help of infrastructural and cloud-based tools.

$11M
$129M
250
135
2017
Indonesia
09
PID
PrivyID

Identity Management Software

Developer of an online electronic identity verification technology designed to perform electronic transactions with confidence. The company's technology provides valid and legally binding electronic identity and signature, enabling businesses to verify the communication between people, organizations and machines by keeping authenticity, secrecy, integrity, access control and anti-denying.

$10M
$6M
5M
210
2014
Indonesia
10
GDHR
GreatDay HR

Software as a Service Platform(SaaS)

Mobile Human Resource Management for employee data, attendance tracking, benefits, payroll, and engagement

$7M
-
1M
85
2018
Indonesia
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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.