Top SaaS Companies in Latvia

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

These are the top SaaS companies in Latvia. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Latvia by featuring these 18 companies with combined revenues of $14.9M.

Together, Latvia SaaS companies employ over 292 employees, have raised $0.0 capital, and serve over 0 customers around the world.

$0 - $1M ARR
  1. asya.ai $699.3K
  2. DeskTime $666.5K
  3. FjordHub.com $582.7K
  4. SpacePass $483.1K
  5. Cloudviz.io $356.6K
$1M - $5M ARR
  1. Zabbix $3.7M
  2. AGroup $2.2M
  3. DEAC $1.9M
$5M - $10M ARR
    $10M+ ARR
      1. 01
        Zabbix

        Zabbix

        Development Software

        Provider of an enterprise-class open source monitoring platform. The company offers a range of professional services designed to fit every customer's business demands including implementation, integration, custom development and consulting services as well

        $4M

        73

        2005

        Latvia

      2. 02
        Sonarworks

        Sonarworks

        Iot Software

        Sonarworks is an innovative audio technology startup that will redefine headphone and music delivery industries

        $3M

        64

        2012

        Latvia

      3. 03
        AGroup

        AGroup

        HR Software

        $2M

        $2M

        30

        2008

        Latvia

      4. 04
        DEAC

        DEAC

        Cloud Computing Software

        Operator of data centers in RÄ«ga, Latvia. The company's data centers services are powerful and provide beneficial business tools for customers by evaluating their business targets, resources and IT needs, enabling them to focus on their primary activities

        $2M

        57

        1999

        Latvia

      5. 05
        asya.ai

        asya.ai

        Artificial Intelligence Software

        Developer of a mindful conversation application designed to help people improve their communication skills with real-time AI feedback. The company's application listens to the users' voice and provides analytics on the way they interact with others while a

        $699K

        9

        2018

        Latvia

      6. 06
        DeskTime

        DeskTime

        Software As A Service Platform(Saas)

        Developer of a time tracking software. The company develops a software which is used for tracking time and analyzing the productivity of employees.

        $666K

        11

        2010

        Latvia

      7. 07
        FjordHub.com

        FjordHub.com

        Software as a Service Platform(SaaS)

        $583K

        7

        2020

        Latvia

      8. 08
        SpacePass

        SpacePass

        Collaboration & Productivity Software

        Spacepass is a centralized booking platform for flexible workspace enabling workspace as a service experience and connecting various supply and demand channels. Spacepass works with flex office/space operators, commercial real estate (CRE) brokers and corp

        $483K

        6

        2017

        Latvia

      9. 09
        Cloudviz.io

        Cloudviz.io

        Document Management

        $357K

        6

        2019

        Latvia

      10. 10
        Zippy ID

        Zippy ID

        Software

        Zippy ID provides a fully automated identity verification solution.

        $310K

        4

        2018

        Latvia

      1-10 of 18

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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.