The Top Bootstrapped SaaS Companies

These companies earned the most without funding (Click to apply)

Bootstrapping a SaaS company requires profitable growth. We went and found some of the most profitable bootstrapped SaaS companies so you could analyze how they’ve done it.

Some of the founders manage against metrics like revenue per employee. The target? $600k or higher. They won’t hire new team members until new hires add enough revenue to get back to $600k in revenue per employee. Other founders manage to a payback period of 3 months or less. Some of the most successful bootstrapped SaaS companies have instant payback periods. They upsell items like consulting, books, and event tickets to immediately recover their customer acquisition cost (CAC) so they can then re-invest it immediately. Call it a “fast money flywheel”.

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$0 - $1M ARR
  1. Finimize $1.0M
$1M - $10M ARR
  1. Coditas $10.0M
  2. Kovai $10.0M
  3. Vutu $10.0M
  4. Liveworld $10.0M
  5. Fundapps $10.0M
$10M - $20M ARR
  1. OCEAN SAS $19.2M
  2. ProArch $19.2M
$20M - $100M ARR
  1. Hotschedules $100.0M
  2. EBSCO $99.8M
  1. 11
    CIPD Jersey Branch

    CIPD Jersey Branch

    HR Software

    We aim to promote championing better work and working lives by providing opportunities locally to members and non-members to assist businesses shape the future of people management. Jersey is an active branch with a varied programme of events and activiti

    $3B

    150K

    1913

    947

    United Kingdom

  2. 12
    InterCall

    InterCall

    Customer Service Software

    Provider of cloud-based unified communications service. The company provides conference and collaborations tool, audio conferencing, webcasting and unified communication services. It also offers telephony, messaging, conferencing and collaboration tools to

    $3B

    1M

    1991

    169

    United States

  3. 13
    Bank Negara Indonesia

    Bank Negara Indonesia

    Financial Services Software

    PT Bank Negara Indonesia Tbk is an Indonesian state-owned bank, with the government holding just over half of the bank's outstanding shares. BNI's main banking activities include deposit-taking, providing credit, issuing debt instruments, money transfer se

    $3B

    20K

    1946

    18K

    Indonesia

  4. 14
    Sage

    Sage

    Accounting Software

    Sage is a management software company that develops and markets accounting software for small & medium businesses.

    $2B

    11K

    1981

    15K

    United Kingdom

  5. 15
    Visma Passeli

    Visma Passeli

    Information Technology & Services

    Provider of enterprise software services. The company provides enterprise software that enables its customers to take care of all the monetary and payment transactions, financial management, human resource management and material management.

    $2B

    1M

    1996

    6K

    Norway

  6. 16
    Masmovil Telecom 3.0

    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

    1997

    2K

    Spain

  7. 17
    Larsen & Toubro Infotech LLC

    Larsen & Toubro Infotech LLC

    LTI is a global technology consulting and digital solutions company helping more than 250 clients succeed in a converging world.

    $2B

    80K

    1997

    34K

    United States

  8. 18
    Exela Technologies

    Exela Technologies

    Customer Service Software

    SourceHOV is a provider of transaction processing services (TPS) and enterprise information management (EIM) services. The company offers offers workflow management system and business process outsourcing (BPO) services. It specializes in transactions for

    $2B

    4K

    2011

    1K

    United States

  9. 19
    Allscripts Healthcare Solutions Inc

    Allscripts Healthcare Solutions Inc

    Allscripts provides healthcare information technology solutions.

    $2B

    196K

    1986

    8K

    United States

  10. 20
    NTT Security

    NTT Security

    Security Software

    NTT Security is the specialized security company of NTT Group. With embedded security we enable Group companies (Dimension Data, NTT Communications and NTT DATA) to deliver resilient business solutions for clients’ digital transformation needs. NTT Secu

    $1B

    9K

    1988

    18K

    Japan

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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.