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As of Jan 2020, these 396 SaaS companies are the largest in the Application Development Software space.

The Top Application Development Software SaaS Companies

This list tracks the largest private B2B Application Development Software SaaS companies by revenue. In total, this list features 396 companies with combined revenues of $10.8B.

These companies have raised a total of $9.2B. Together, these Application Development Software saas companies serve 1B customers and employ over 52K on their teams.

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Highlights

01
W
Workday

Application Development Software

Workday is a software-as-a-service provider that offers enterprise resource planning software for medium and large enterprises. The firm's roots are in ERP software vendor PeopleSoft, which was founded by Workday cofounder David Duffield, while fellow Workday cofounder Aneel Bhusri served as vice chairman at PeopleSoft. The company's product portfolio is centered on human capital and financial management software, though it continues to add new applications to the product set. Just over 75% of the firm's revenue comes from the U.S. The company continues to grow by making periodic small acquisitions.

$4B
$231M
8K
14K
2005
United States
02
MT
Masmovil Telecom 3.0

Application Development Software

Provider of mobile telecommunication services in Spain. The company offers universal telecommunications services including fixed, mobile, ADSL, fiber, datacenter and value added services to residential customers, businesses and operators.

$2B
-
18M
2K
1997
Spain
03
O
Okta

Application Development Software

Okta Inc is an independent provider of identity for the enterprise. It pioneered identity in the cloud. The Okta Identity Cloud enables customers to secure their users and connect them to technology, anywhere, anytime and from any device. The Okta Identity Cloud is used by organizations in two distinct and powerful ways, to manage and secure their internal users, and to connect and secure their external users via the powerful APIs it has developed. The company derives revenue from subscription fees which include support fees, and professional services fees.

$835M
$454M
4K
4K
2009
United States
04
DO
DigitalOcean

Application Development Software

DigitalOcean is a cloud computing platform that provides a cloud platform to deploy, manage, and scale applications of any size. Its infrastructure and platform-as-a-service solutions provide a no DevOps required experience, allowing developers to focus their energy on creating innovative software. By combining the power of simplicity, love for the developer community, an obsession for customer service, and the advantages of open source, DigitalOcean brings software development within the technical and economic reach of anyone around the world. DigitialOcean was formed in 2012 and is headquartered in New York, NY, USA.

$357M
$151M
700K
906
2012
United States
05
B
Bandwidth

Application Development Software

Bandwidth is a Communications Platform as a Service company.

$343M
$21M
600
836
1999
United States
06
A
Appian

Application Development Software

Discover the power of low-code automation. Appian is the only leader recognized by industry analysts -- in automation, low-code, and case management.

$305M
$48M
40K
1K
1999
United States
07
I
Icertis

Application Development Software

Icertis is an enterprise contract management platform in the cloud that solves hard contract management problems on an easy to use platform. With Icertis, companies can accelerate business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize the commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Management (ICM) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft, and Roche to manage 5.7 million contracts in 40+ languages across 90+ countries. Icertis was founded on 2009 and is headquartered in Bellevue, Washington..Icertis is an AI-powered contract management platform that ensures compliance and minimizes risk..

$241M
$371M
160
2K
2009
United States
08
OS
Out Systems

Application Development Software

OutSystems, a modern application platform that enables organizations of all sizes to deftly tackle any kind of critical application - from legacy modernization and workplace innovation to customer experience transformation.

$207M
$572M
300K
2K
2001
United States
09
VSSI
Ved Software Services, Inc.

Application Development Software

VED Software Services provides IT consulting, staffing and software projects services.

$180M
$12M
-
2K
1995
United States
10
JF
JFrog

Application Development Software

JFrog provides software developers with a binary repository management solution.

$151M
$227M
4K
777
2008
United States
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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.