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As of Dec 2023, these 544 SaaS companies are the largest in the Security Software space.

Top Security Software SaaS Companies in 2023

This list tracks the largest private B2B Security Software SaaS companies by revenue. In total, this list features 544 companies with combined revenues of $4B.

These companies have raised a total of $17.4B. Together, these Security Software SaaS companies serve 1.9B customers and employ over 42.2K on their teams.

Data: This data was collected through the Latka podcast where each CEO was interviewed for company details.

Divider

List of Security Software SaaS Companies in 2023

1
$328M
5M
2002
$408M
2K
2
$250M
90K
2005
$920M
1K
3
$221.3M
350K
2012
$1.4B
1.8K
4
$200M
200K
2017
$500.7M
501
5
$132M
700K
2002
$17.7M
30
6
$127.8M
0
2012
$78.7M
2.1K
7
$125M
5K
2016
$970M
2K
8
$120M
3M
2008
$180M
841
9
$106M
1.7K
2013
$293.4M
528
10
$100.2M
0
2015
$1.9B
752
11
$100M
0
2002
$435.4K
51
12
$83.4M
500K
2009
$129.2M
352
13
$80M
100
2016
$182M
249
14
$69.7M
0
2007
$330M
711
15
$62.9M
0
2002
$7.3M
699
16
$60M
800
2001
$137.5M
220
17
$59.9M
4K
2007
-
996
18
$50M
150K
2001
$10.3M
251
19
$48.8M
130.7K
2014
$32.6M
580
20
$37M
10M
2011
$390M
558
1 - 20 of 544

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.