These are the top SaaS companies in Covington, United States. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Covington by featuring these 6 companies with combined revenues of $127.7M.
Together, Covington SaaS companies employ over 3K employees, have raised $2K capital, and serve over 5K customers around the world.
Latka gets data on SaaS companies by interviewing the founders directly. Over 3,000 interviews organized in excel.
Business Development Software
Provider of a software development platform designed to build software for open source and private projects in organizations. The company's platform provides access control and several collaboration features such as task management, bug tracking and feature requests for every project, enabling teams to work through problems, move ideas forward and learn from each other along the way.
Developer of web based software providing human resource management services. The company provides a software-as-a-service human resource platform which specializes in payroll services, employee benefits, attendance and reporting.
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Developer of a video conferencing, matchmaking, client engagement, training and revenue cycle management platform designed to connect people from under served communities with mental health professionals and resources. The company's platform provides an online directory of mental health professionals and a matchmaking service to help patients find the right healthcare fit, as well as credentialing, billing, telemedicine, marketing and education solutions, enabling healthcare professionals to provide the appropriate care while growing their private practice, group practice or enterprise practice.
Provider of internet based business application. The company offers a Web-based platform interconnecting the people who make, sell, service and play musical instruments through a secure and enduring cloud based data vault.
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.