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List of the largest SaaS companies in South Africa

Top SaaS Companies in South Africa

These are the top SaaS companies in South Africa. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for South Africa by featuring these 62 companies with combined revenues of $8.2B.

Together, South Africa SaaS companies employ over 15K employees, have raised $107.6M capital, and serve over 1M customers around the world.

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Highlights

Top SaaS Companies with $5 - $10M ARR


02
wG
wiGroup

Demand Generation Software

Our Mobile Technology, Software-as-a-Service & Mobile Rewards software enable businesses to offer consumers transaction technology. Today’s consumers are looking for products & brands that offer more convenience, simplicity & rewarding experiences.

$15M
-
-
258
2007
South Africa
03
TDE
Teraco Data Environments

Cloud Computing Software

Teraco provides carrier and cloud neutral colocation data centres, and with over 14 500 cross-connects, is Africa's most interconnected data centre hub. As the first provider of highly resilient, vendor-neutral data environments in sub-Saharan Africa, Teraco brings global content closer to the digital edge. With its world-class data centre infrastructure and network dense ecosystems, Teraco forms a vital part of the African Internet's backbone and is an essential part of the modern enterprise’s digital transformation strategy. It’s ever-expanding ecosystems move Teraco beyond colocation and firmly establish it as an open marketplace for digital growth and innovation. Discovering new business partners, making strategic interconnection choices, on-ramping to your choice of cloud, and reaching new markets globally – Teraco provides a highly secure, flexible and resilient home for digital organisations the world over. Purpose-built and operated to global best practice by an expert organisa

$15M
$44M
600
175
2007
South Africa
04
IDUBFRS
IDU | Budgeting, Forecasting and Reporting Solutions

Cloud Computing Software

IDU was created by accountants and financial systems specialists to deliver smart software solutions for budgeting and financial reporting across all standard ERP and financial systems. Our flagship product, idu-Concept, is specifically designed to overcome issues that get in the way of effective budgeting, forecasting and reporting.

$5M
-
-
56
1998
South Africa
05
D
Docufile

Real Estate Software

Provider of records management and storage services. The company provides records management and storage, document imaging and scanning, off-site data storage and hosting, file tracking software, on-line backup and restores, training and consulting, archiving stationery and secure document shredding services.

$4M
-
-
56
1998
South Africa
06
EPT
Electrum (Payments Technology)

Financial Services Software

Owner and operator of a FinTech Software Company intended to connects people directly to financial services, millions of times a day. The company's cloud-based transaction platform is used to process and switch a range of financial transactions including pre-paid products, gift cards and bill payments and permits its customers to grow their revenues and engage across all channels, enabling retailers and financial institutions to accept payments, process financial transactions, and provide value added services.

$4M
-
-
86
2012
South Africa
07
hXG
hearX Group

Healthcare Software

Provider of mobile health services intended to facilitate clinical smartphone hearing test products. The company's services include mobile applications for audiometry test, hearing screening test, hearing test, vision test as well as other products like diagnostic otoscope, hearing loss self-test kiosk and cloud based health data management platform, enabling patients to get affordable access to hearing care.

$4M
$20M
-
46
2015
South Africa
08
S
Synaq

Information Technology & Services

Provider of managed Linux service. The company's managed Linux service include secure mail, branding, archive, cloud mail and other managed services, enabling their clients to get cloud based services.

$3M
-
-
35
2004
South Africa
09
DP
DataProphet

Artificial Intelligence Software

DataProphet is a global leader in Artificial Intelligence (AI) for manufacturing

$3M
$6M
-
32
2014
South Africa
10
P
Propr

Real Estate Software

PropTech Startup that scales property rental revenue.

$2M
-
500
60
2015
South Africa
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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.