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List of the largest SaaS companies in Saudi Arabia

Top SaaS Companies in Saudi Arabia

These are the top SaaS companies in Saudi Arabia. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Saudi Arabia by featuring these 17 companies with combined revenues of $110.2M.

Together, Saudi Arabia SaaS companies employ over 663 employees, have raised $316.2M capital, and serve over 5K customers around the world.

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Highlights

Top SaaS Companies with $5 - $10M ARR


Top SaaS Companies with $10M+ ARR


01
$72M
$271M
5K
200
2006
Saudi Arabia
02
ME
MakanE

E Commerce Software

Makane has a specialized team that helps you build your online store and guides you through your e-commerce journey to help you grow.

$18M
$25M
-
180
2012
Saudi Arabia
03
QDA
Quant Data & Analytics

Analytics Software

Quant is a Saudi consultancy which provides Data Science, AI and BI services and SaaS products.

$4M
$11M
-
37
2015
Saudi Arabia
04
L
Lucidya

Artificial Intelligence Software

Developer of a Saas-based social media analytics and monitoring software intended to help businesses make better strategic decisions. The company's software uses big spatial data search engine to analyze both current and historical social media content in real-time using the contents published on the different social media channels, enabling businesses to filter results, analyze influential users, sites and content to understand consumers' feedback and expand its reach to target customers.

$3M
$1M
-
40
2015
Saudi Arabia
05
p
palm.hr

HR Software

Redefining HR in Saudi Arabia - www.palmhr.net We are determined to reinvent the way HR is perceived in companies across the Kingdom. It is time to focus on employees and their needs. HR is not about administrating staff, it is about engaging people in order to activate their full potential so that everyone supports their company and this country to march into a brighter future. Made with ❤️ in Austria & Saudi Arabia.

$3M
-
-
30
2018
Saudi Arabia
06
Q
Qoyod

Accounting and Finance Software

Provider of an online accounting and invoicing software intended to raise relevant competencies with productivity tools in order to ensure continuity and competition. The company's software offers services like the issue of purchase orders, stock management, point of sales service, API service, in addition to features of powers and approvals management by users regarding all transactions and reports available in the system which support the different operating systems, enabling start-up businesses and small to medium enterprises to have access to a wide range of packages and utilize the available accounting services offered by the platform, on a monthly or annual basis.

$2M
-
-
27
2016
Saudi Arabia
07
T
Taker

Information Technology & Services

Developer of an online ordering system for restaurants intended to facilitate restaurant management. The company provides services like branch management, menu management, linking delivery zones, marketing tools, advanced analytics and self-service kiosks, enabling restaurants to engage more customers and improve their sales.

$2M
-
-
23
2019
Saudi Arabia
08
VM
VôM

Accounting and Finance Software

VôM is a homegrown accounting software platform.

$1M
$670K
-
15
2020
Saudi Arabia
09
p
penny software,penny software

Enterprise Software

Procure to Pay & Spend Management Software.procurement software and B2B marketplace

$1M
$6M
70
25
2020
Saudi Arabia
10
TS
Transtek Systems

Application Development Software

Software development firm in the Middle East.

$1M
-
-
14
2001
Saudi Arabia
1 - 10 of 17Next

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.