Short for Software-as-a-Service, SaaS is a business model which involves selling software on a subscription basis. Some famous examples of this model are Canva, Netflix, Microsoft Office 365, Adobe Creative Suite, etc.
In most SaaS models, the software is hosted on a central server, and its users access them through their accounts. The accounts are based on the different subscription models.
These types of companies have existed for a long time; however, the pandemic and various lockdowns worldwide fueled their growth and popularity. Every individual working from home knows that it is impossible to do so without cloud conferencing, which is nothing but a type of SaaS startup itself. So, in this article, we will be talking about a few SaaS startups.
Founded in 2018 in the United Kingdom, Netcrumb is an easy-to-use website creator who does not require coding. With a few clicks, you can have your own, fully functioning WordPress website for $29. Starting with a small budget, the founder of this company, Dragos Ivanov, has grown the company by leaps and bounds. Still relatively young, Netcrumb could be on its way to the top of the charts.
Founded in the USA in 2014 by Garrett Moon, CoSchedule has nearly 10,000 clients and is present in over 100 countries worldwide. Their services are focused on making the lives of marketers easier. It is a platform where marketers can create roadmaps, collaborate, schedule, and promote projects. Due to its rapid growth, it is also known as the fastest-growing startup in North Dakota.
Compstak is another startup founded in the USA in 2011, by Michael Mandek and Vadim Belobrovka. It is a platform that is primarily focused on Commercial Real Estate (CRE). It provides its users with an accurate overview of lease and sales comparables. The company operates on a crowdfunding model and is a beneficial asset for investors, property experts, brokers, and appraisers.
Setapp is a Ukrainian startup founded in 2017 by the founder and CEO of MacPaw, Olesandr Kosovan. Setapp is a subscription service for Mac apps, as it comprises around 140 different apps for Mac. It mainly focuses on productivity-related apps. Some apps are MindNode for brainstorming, Ulysses for writing, and AnyTrans for file transfer.
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FeatureSpace was founded in 2008 in the United Kingdom and is a world-known SaaS product specializing in adaptive behavioral analytics. It tracks and detects any anomalies in the behavioral data that help organizations prevent fraud. The company aims to bolster system security by implementing the latest AI trends.
At the annual Card and Payments event in 2018, the company was awarded the Industry Achievement Award.
Some might believe that a SaaS startup is nothing but a shortcut to success. However, SaaS products are relatively easier to set up and maintain and have proved to be affordable. You must make a note of these must-haves:
- Product-market fit
- Funding potential
- Unique characteristics