Top 10 SaaS Companies Making Tremendous Money in 2021

Software as a Service (SaaS) has been the largest and fastest-growing market segment in the past few years. SaaS-based startups have seen a great 50% YoY growth in funding across the globe. And that is to be expected. After all, software and internet applications made the lives of people easier during the Covid-19 pandemic which has led to an increased use of technology. 

We are actually witnessing a SaaS revolution! We have become so much dependent on SaaS technology to make it through our work day that it is changing the way companies work. 

Before getting into specific companies who are generating huge revenue out of their SaaS business, let's understand the two types of customers SaaS target: B2B and B2C.

B2B or Business to Business SaaS companies target customer needs that are specific to business owners and management teams. B2B SaaS. These sell software to other businesses as a service. These products and services help organizations automate their internal functions. Many businesses rely on these services to optimize their marketing, sales, customer service, and operations efforts.

These products are usually made for businesses like HubSpot, Google, and Asana.

B2C or Business to Customer SaaS companies tend to focus on people who buy products for personal use. These needs can be categorized as Entertainment needs, personal finance needs or organizational needs for which they would need software. Networking site LinkedIn Premium, credit report service Experian, and dating site Bumble are all examples of B2C SaaS companies.

SaaS companies are on fire with their business game. To give a brief idea of what these organizations look like, here's a list of the most successful, fastest-growing, and biggest SaaS companies. 

Momentive

Momentive, formerly known as SurveyMonkey is an online survey developer tool that helps with data analysis and representation. It offers cloud based software services to its clients. The company's recent quarter 2 results show a monumental growth where it witnessed a revenue of $108 million. 

HubSpot

HubSpot is another company operating in both B2B and B2C models. It is an inbound marketing software company offering tools for CRM, social media marketing, content management, web analytics, and SEO. It recorded a revenue of $310 million in its recent quarter 2 results. 

Microsoft

Microsoft, the multinational technology corporation, produces computer software, personal computers, consumer electronics and is known for its software products like Microsoft Windows Microsoft Office Suite. It ranked 21 in the 2020 Fortune 500 rankings of largest United States Corporation by Revenue. It recorded a revenue of $168 billion in the recent quarterly results. 

 

Asana

Asana is a project management software that allows teams to manage, track and connect on projects. Asana's total revenue as recorded in the last quarterly results was $76.7 million and its market capitalization is 5.62 billion as of January 2021.

  

Canva

Canva is a graphic design software that helps its users to create premium designs, posters, presentations and other visual content. Canva recently doubled its valuation from $6 billion to $15 Billion. It's 2021 annual revenue is expected to cross $1 billion. 

Shopify

Shopify is an ecommerce business that owns four products. Its main product, Shopify, is an ecommerce platform for online stores and retail POS. Shopify was ranked as a Top 50 Small Business Product in 2020.

Shopify reported revenue of $1.12 billion in the second quarter of 2021. It saw an increase of 57% on a year-over-year basis. 

Slack

Slack owns three products. Its main product, Slack, is a collaboration and chat tool that allows for internal messaging, video conferencing, and productivity bots. In this report, it was recognized as the Best Estimated ROI Enterprise company for Winter 2021. The total revenue as per the first quarterly results of the Year 2021 was reported as $201.7 million which was again an increase of 50% year over year basis.

 

Adobe

Adobe owns over 50 computer software products in digital media and marketing, printing, and publishing. The company holds the G2 award as a Top 50 Enterprise Product in 2020. It recorded a quarterly revenue of $3.84 billion in the second quarter of fiscal year 2021 which represents 23% year-over-year growth.

Google Cloud Platform

Google Cloud Platform gives people and enterprises a place to build and run software using the internet to connect them. The app experienced 108% growth in 2020. In the quarterly results of 2021, it reported a revenue of $4.047 billion. 

 

Zoom

Zoom, "star of the pandemic", is a platform that provides video conferencing tools for hosting remote meetings.The report lists that it experienced 76% growth in 2020 majorly because of shifting of offices and schools at home which increased the demand of an online video conferencing software. It saw a growth in revenue of about 326% in 2021 and was recorded at $2651.4 million. 

Conclusion

These companies set the precedent for what a successful SaaS business should look like. Studying and Analysing the structure of SaaS organizations, understanding the difference between B2B and B2B companies, and determining the type of products the SaaS industry needs can set service professionals and entrepreneurs on the right path to growing a company or start up. 

The achievements of these 10 companies above will definitely inspire you to set specific goals like increasing customer satisfaction and earning customer loyalty to experience similar growth in your business in 2021 and beyond.

Samantha Paul

Samantha is a SaaS fan who is always on the lookout for great software and lifetime deals. Always up to date with what's going on in the tech world, Samantha prefers Windows to Mac and Android over iOS. You will see her articles here and we hope that you find them useful and informational.