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List of the largest SaaS companies in Norway

Top SaaS Companies in Norway

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 126 companies with combined revenues of $2.8B.

Together, Norway SaaS companies employ over 13K employees, have raised $1.4B capital, and serve over 210M customers around the world.

Divider

Highlights

21
$6M
$8M
-
83
2011
Norway
22
S
Semine

Accounting and Finance Software

Semine is an hyper automation platform (B2B Saas) delivering a complete data driven Accounts Payable Intelligence Platform

$5M
$20M
-
56
2016
Norway
23
X
Xeneta

Supply Chain & Logistics Software

Ocean/air freight rate benchmarking platform

$5M
$57M
200
84
2012
Norway
24
GIT
Greenbird Integration Technology

Analytics Software

Greenbird provides Utilihive, the Operating System for the DIgital Utility and Energy Cloud.

$5M
$15M
65M
55
2010
Norway
25
IP
Ignite Procurement

Procurement Software

Strategic Procurement Made Easy: We facilitate data-driven, smarter, and sustainable decisions for procurement professionals and businesses.

$5M
$4M
-
49
2017
Norway
26
MS
Maritech Systems

Information Technology Software

Maritech Systems is a provider of software for the seafood industry. The company produces software for the fishing and aquaculture sectors. It was founded in 1975 and is headquartered in Averoy, Norway.

$5M
-
-
87
1984
Norway
27
D
Duett

Information Technology Software

Operator of an accounting and cloud-service company.The company provides its services to the Norwegian accounting and agricultural sectors, as well as other Norwegian small-to-medium enterprises (SMEs).

$5M
-
-
103
1982
Norway
28
B
Bitpro

Cloud Computing Software

Bitpro is a digital platform that helps with IT operations, networks, platforms and various cloud solutions

$3M
-
10K
40
2004
Norway
29
H
Holte

Construction Software

Provider of a Web-based platform intended to facilitate management of construction projects. The company's Web-based platform integrates with a paperless trade system that stores and organizes construction project documents, tracks project deals, sends alerts on project lag timing, displays contacts database of customers and employees, tracks employee participation, manages invoice and sends alerts and notifications on pending projects, enabling builders, carpenters and construction project planners to keep track of all project details and coordinate construction related work with customers and other project planners and builders.

$3M
-
50K
128
1977
Norway
30
D
Decisions

Event Management Software

Developer of meeting management platform designed to help plan, organize and run successful meetings. The company's platform offers a dashboard which gives an instant overview on the progress of action items and decisions made in the different management teams and groups and provides access to the meeting agenda and documents from calendar, on any device and with the security of Microsoft Office 365, enabling leaders to achieve their goals through better meetings, decisions and execution.

$3M
$4M
-
52
2016
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.