The software as a service (SaaS) industry is booming in India. More and more companies are moving to the cloud, and SaaS providers are seeing rapid growth. In this article, we will discuss what a SaaS company is, and explain the SaaS industry in India. We will also list the top 12 SaaS companies in India for 2023.
What are SaaS companies in India?
A SaaS company provides software that is accessed by users over the internet. This software can be used for a variety of purposes, such as email, productivity, customer relationship management (CRM), and more.
According to the latest report by Bain & Company, Indian Software-as-a-Service (SaaS) companies are poised to reach $30 billion in revenue, capturing an estimated 8%-9% of the global SaaS market, by 2025.
Currently, the top three Verticals for SaaS in India are IT, BFSI (Banking, financial services, and insurance), and Healthcare & Life Sciences. However, with the recent growth of startups in India, we expect other sectors such as retail, e-commerce, and manufacturing to catch up soon.
Top 12 SaaS Companies in India 
Here are the top SaaS Companies in India.
Found by Girish Mathrubootham and Shan Krishnasamy, Freshworks is a leading provider of cloud-based customer engagement software. The company offers a suite of products that helps businesses to connect with their customers through email, chat, phone, social media, and mobile channels. Freshworks’ products include Freshdesk (customer support), Freshsales (sales automation), Freshteam (talent management), Freshmarketer (marketing automation), and Freshservice (IT service management).
Founded by Sridhar Vembu and Tony Thomas, Zoho Corporation is a Chennai-based software development company that specializes in developing and selling web-based business applications. Zoho offers over 45 online applications for businesses, including CRM, mail, office suite, project management, invoicing, human resources, customer support, and more. The company has over 60 million users worldwide and its products are available in over 20 languages.
Founded by Manohar Chapalamadugu, Agile CRM aims at providing a single platform for automated marketing, sales, and other services. The company offers a suite of tools to help businesses with lead management, sales, customer service, and more.
VTION Digital Analytics
Founded by Manoj Dawane, VTION provides valuable insights that help marketers and advertisers understand customer behaviors. The company offers solutions in the areas of marketing, advertising, and customer retention.
Founded by Karthi Mariappan, Hippo Video is a video creation and marketing platform that helps businesses create and share engaging videos. The company offers a suite of tools to help businesses with video creation, video editing, video marketing, and more.
Founded by Chandra Mohan Grover and T. M. Manjunath, IBSFintech offers seamless solutions that help global corporates manage their finances. The company has a team of experts with over two decades of experience in the financial services industry.
Founded by Krish Subramanian, Rajaraman Santhanam, Saravanan KP, Thiyagarajan T, Chargebee is a subscription management platform that helps businesses automate their recurring billing, invoicing, and other financial operations.
Founded by Abhijit Pattanaik, Playtonia is an e-sports platform technology company that helps online gamers connect with each other and also provides a marketplace for them to buy and sell gaming content.
Visual Website Optimiser
Founded by Paras Chopra, VWO is the market-leading A/B testing tool. It helps businesses increase the conversion rate of their website by conducting tests on different elements such as headlines, images, and copy.
Founded by Ankit Utreja and Avlesh Singh, WebEngage is a customer engagement platform that helps businesses increase their conversion rates and retention rates.
ProofHub is a project management and collaboration software that helps you get work done faster. Founded by Sandeep Kashyap, ProofHub makes it easy to manage projects, communicate with team members, and get work done on time.
Founded by Dharmendra Patel, KONZE develops software with the mission to ease the hurdles of edu-immigration consultancies. They provide KONDESK (CRM), KONPARE (OSHC comparison portal), SearchMyAnzsco (Anzsco Search), and KONCHECK (Police check). Also, they offer KONSIGN (Electronic Signature) for all industries.
FAQ on SaaS Companies in India
What are SaaS companies?
SaaS stands for Software as a Service. A SaaS company is a type of company that delivers software over the internet.
How many SaaS companies are in India?
India got more than 1000 SaaS companies in 2022. This number is increasing day by day as the demand for SaaS products and services is growing in India.
What are some successful SaaS companies in India?
VTION Digital Analytics
How big is the SaaS market in India?
The SaaS industry in India which is currently US$2.6 billion in size is expected to multiply its revenue by 20 times by 2030, generating revenue in the range of US$50-70 billion in the process. Successful SaaS companies showcase key strengths across three pillars: customer obsession, technical prowess, and business model innovation.
What are the top SaaS companies in India?
Some of the top SaaS companies in India are Freshworks, Zoho, Agile CRM, VTION, Hippo Video, IBSFintech, Chargebee, Playtonia, Visual Website Optimiser, WebEngage ProofHub, and KONZE.
These are just some of the top SaaS companies operating in India.
Do you know of any others that should be on this list? Let us know in the comments below!