These are the top SaaS companies in Nigeria. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Nigeria by featuring these 29 companies with combined revenues of $79.5M.
Together, Nigeria SaaS companies employ over 1K employees, have raised $0.0 capital, and serve over 6K customers around the world.
Supply Chain & Logistics Software
With Kobo's platform, companies now have easy access to a large pool of trucks with real-time tracki...
Provider of a retail platform designed to connect distributors, wholesalers and retailers online on one platform. The company's platform uses artificial intelligence and machine learning to provide predictive analysis to run targeted campaigns, set product
Financial Services Software
ASUSU is digitizing financial activities of low income and daily earners through, cooperatives, agents & partnerships.
Content Creators Software
Provider of an online entertainment platform designed to target audiences in Sub-Saharan African countries. The company's online entertainment platform focuses to make Nollywood content accessible to viewers throughout Africa, even if they donot speak Engl
Process Automation Software
Selling quality crops to African food factories using novel hardware.
Human Resources Software
End-to-end, modern cloud-based HR platform for emerging markets.
AI-Powered Platform - Unlocking the power of data.
Accounting and Finance Software
eTranzact International PLC provides multi-application and multi-channel electronic transaction switching and payment processing platform. The company's operating segment includes Mobile Purchases, Other Commissions and Maintenance and support services, so
Software as a Service Platform(SaaS)
1-10 of 29Next
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.
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.