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List of the largest SaaS companies in Latvia

Top SaaS Companies in Latvia

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 23 companies with combined revenues of $21.7M.

Together, Latvia SaaS companies employ over 446 employees, have raised $2.2M capital, and serve over 7M customers around the world.

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Highlights

Top SaaS Companies with $1 - $5M ARR


Top SaaS Companies with $5 - $10M ARR


Top SaaS Companies with $10M+ ARR


01
$6M
-
-
80
2010
Latvia
02
Z
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 as various training programs.

$4M
-
-
73
2005
Latvia
03
S
Sonarworks

Iot Software

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

$3M
-
70K
64
2012
Latvia
04
AG
AGroup

HR Software

AGROUP is one of the leaders in human resource management and payroll solutions in Eastern Europe and Middle East

$2M
$2M
550
29
2008
Latvia
05
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 and to delegate IT related matters to experienced experts.

$2M
-
-
57
1999
Latvia
06
NJMS
NJ Media and Sharpify

Digital Advertising Platforms

NJ Media: We help architects to attract more clients with digital media. Sharpify: Simple And Powerful CMR Tool For SMB

$700K
-
25
13
2019
Latvia
07
a
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 allowing them to monitor their listening skills, the brevity of speech, pace, pauses and emotions in their own voice, enabling people to react and achieve the goals that they have set.

$699K
-
6K
9
2018
Latvia
08
DT
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
-
353K
11
2010
Latvia
09
FH
FjordHub.com

Software as a Service Platform(SaaS)

$583K
-
-
7
2020
Latvia
10
SP
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 corporate and online travel agencies to enable real time availability and booking experience. It provides cross industry and platform agnostic solution creating value for all the players in the ecosystem: the brokers, space owners, travel industry and software vendors. Its SaaS and enterprise solutions provide resource management, booking, CRM, MRM, web and social network integration, community tools and mobile applications.

$483K
-
-
6
2017
Latvia
1 - 10 of 21Next

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.