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. 01
    Coditas

    Coditas

    Outsourced software product development

    $10M

    40

    2014

    440

  2. 02
    Kovai

    Kovai

    Enterprise Software

    A multi-product SaaS company

    $10M

    700

    2009

    131

    United Kingdom

  3. 03
    Vutu

    Vutu

    CRM and Related Software

    $10M

    300

    2007

    88

    United States

  4. 04
    Vanillasoft

    Vanillasoft

    Sales Software

    $10M

    650

    2005

    63

    United States

  5. 05
    Unilogcorp

    Unilogcorp

    E-Commerce Software

    $10M

    290

    1999

    761

    United States

  6. 06
    Fundapps

    Fundapps

    Financial Services Software

    Compliance as a service for the investment industry

    $10M

    45

    2010

    68

    United Kingdom

  7. 07
    Addaptive

    Addaptive

    Increase B2B revenue and brand visibility with AdDaptive's B2B IP targeting software.

    $10M

    225

    2010

    63

    United States

  8. 08
    Liveworld

    Liveworld

    CRM and Related Software

    LiveWorld's social media services & software allow brands to scale human engagement to improve social customer service and social marketing programs.

    $10M

    20

    1996

    260

    United States

  9. 09
    Airdna

    Airdna

    Analytics Software

    leading source of vacation rental data

    $10M

    7K

    2012

    50

    United States

  10. 10
    Test

    Test

    Development Software

    QA Testing as a Service helps you ship apps faster and sleep better with real tests by people on real devices. Learn about QA leader test IO.

    $10M

    180

    2011

    368

    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.