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List of the largest SaaS companies in Chicago, United States

Top SaaS Companies in Chicago

These are the top SaaS companies in Chicago, United States. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Chicago by featuring these 194 companies with combined revenues of $7.1B.

Together, Chicago SaaS companies employ over 30K employees, have raised $4.3B capital, and serve over 53M customers around the world.

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Highlights

01
$3B
-
1M
169
1991
United States
02
ES
Element Solutions

Content Management Systems

Provider of cloud based digital service platform build to help create simple, friction less web experiences. The company's service offers web experience technologies like mobile application, chatbots and voice assistants, data driven marketing services, application monitoring and management, CMS upgrades, cloud services like cloud migrations, cloud infrastructure maintenance and optimization, enabling enterprises to generate more revenue, reduce operational costs, and improve employee's experience.

$2B
-
-
175
2003
United States
03
I
Inteliquent

Communication Software

Provider of network-based voice and messaging services to wireless, cable, carrier and communication service providers. The company offers a variety of voice services including local transit, long distance, switched access, international voice, direct inward dialing, and toll-free services using an all-IP network, which enables to deliver global connectivity for various media.

$533M
$21M
-
434
1991
United States
04
OS
OneSpan

Accounting And Finance Software

Vasco Data Security International designs, develops and markets digital services for identity, security and business productivity that protect and facilitate transactions online, via mobile devices and in-person. The company provides anti-fraud and digital transaction management services to financial institutions and other businesses. Its services offer secure access to data, assets and applications for global enterprises, as well as, provide tools for application developers to integrate security functions into their web-based and mobile applications and facilitate digital transactions involving the signing, sending and managing of documents. VASCO was founded in 1984 and is headquartered in Chicago, Illinois. The company seeks to acquire other technology companies that could expand its technology portfolio or its customer base and allow it to achieve the business objectives.

$201M
-
10K
764
1991
United States
05
R
Relativity

Legal Software

Identifies key issues during litigation

$170M
$125M
-
1K
2001
United States
06
AC
ActiveCampaign

Email Marketing Software

Integrated email marketing, marketing automation, and small business CRM. Save time while growing your business with sales automation.

$165M
$360M
145K
842
2003
United States
07
C
Centro

Digital Advertising Platforms

Created the most comprehensive, automated and intelligent software platform for the digital media industry.

$143M
$53M
2K
885
2001
United States
08
SAIG
SAI Global

Governance

Provider of compliance and risk management software. The company offers a software that allows companies to manage their compliance obligations and risk mitigation in the areas of safety, health and the environment. It offers its services to utilities, oil, gas, refining, mining, engineering, construction, manufacturing and chemical sectors.

$106M
-
-
2K
2012
United States
09
W
Wordzen

Artificial Intelligence Software

A human-powered proofreader for Gmail

$100M
-
-
3
2015
United States
10
R
Relativity

Legal Software

Relativity provides eDiscovery software solutions that give corporations, governments, & law firms tools to manage litigation, investigations & FOIA requests. Learn about Relativity's eDiscovery solutions to aid legal review, litigation support, docume...

$100M
$125M
160K
1K
2001
United States
1 - 10 of 191Next

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.