Top SaaS Companies in Norway

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

These are the top SaaS companies in Norway. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Norway by featuring these 49 companies with combined revenues of $726.4M.

Together, Norway SaaS companies employ over 8K employees, have raised $49.2M capital, and serve over 4K customers around the world.

$0 - $1M ARR
  1. VIBBIO $1.0M
  2. Induct $1.0M
  3. CLTRe $1.0M
  4. ClipCard $1.0M
$1M - $5M ARR
  1. Bitpro $3.4M
  2. Skybuffer $2.9M
  3. Vev $2.9M
  4. Confrere $2.1M
$5M - $10M ARR
  1. FLYYT $6.6M
  2. Fotoware $6.0M
  3. Semine $5.0M
  1. 01
    Visma Passeli

    Visma Passeli

    Information Technology & Services

    Provider of enterprise software services. The company provides enterprise software that enables its customers to take care of all the monetary and payment transactions, financial management, human resource management and material management.

    $500M

    6K

    1996

    Norway

  2. 02
    Successive Technologies Norge AS

    Successive Technologies Norge AS

    Cloud Computing Software

    $39M

    461

    2017

    Norway

  3. 03
    Signicat

    Signicat

    Signicat is a digital identity service provider (DISP) and one of the leading providers of e-ID and e-signature solutions in Europe.

    $32M

    $10M

    158

    2006

    Norway

  4. 04
    Cegal

    Cegal

    Information Technology & Services

    Founded in 1975, Deutsche Asset Management is an asset management firm based in Zurich, Switzerland. The firm develops and manages tailor-made investment solutions for clients and offers individuals and institutions traditional and alternative investments

    $29M

    345

    1975

    Norway

  5. 05
    Edvantage Group

    Edvantage Group

    Software as a Service Platform(SaaS)

    Provider of cloud-based learning and performance software. The company provides content, technology and services to create e-learning solutions tailored to the specific needs of organizations. The company helps organizations improve employee skills and tra

    $18M

    220

    1999

    Norway

  6. 06
    Airthings

    Airthings

    Marketing Software

    Airthings designs and sells digital radon detectors.

    $17M

    72

    2008

    Norway

  7. 07
    QuestBack

    QuestBack

    Enterprise Software

    Provider of enterprise feedback management software. The company provides customer experience management, social CRM, online survey tools, analyzing and responding to business feedback.

    $16M

    196

    2000

    Norway

  8. 08
    Admincontrol

    Admincontrol

    Information Technology & Services

    Provider of cloud-based software for secure and effective collaboration and document sharing in business critical-processes. The company offers software-as-a-service (SaaS) services as well as a separate iPad and iPhone app for secure collaboration and eas

    $8M

    97

    2005

    Norway

  9. 09
    FLYYT

    FLYYT

    HR Software

    $7M

    79

    2017

    Norway

  10. 10
    Madeo Ventures

    Madeo Ventures

    Information Technology & Services

    BrandMaster is a provider of marketing software and services. The company provides marketing resource management services for marketing departments with extensive experience from 3-layer organizations: Global Headquarter, National Organization and Dealer N

    $7M

    78

    1997

    Norway

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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.