The Ken recently covered the journey of Freshworks*, India’s leading SaaS (Software as a Service) startup, from zero to $100 million revenue. This $100 million figure is important beyond the nominal token value of touching a “nine-figure” milestone. In the SaaS world, this is the point at which a company can realistically explore floating an IPO. Entering the public market is a rite of passage that marks the point where a fledgeling startup transforms into an established company.
Swallow or Summer: Indian SaaS startups’ $100m ARR dream
SaaS is eating the world. But can Indian SaaS startups get a larger piece of the pie? With Freshworks hitting the $100 million ARR milestone, with an IPO in the offing, other Indian SaaS companies have an example to follow
In 2018, Freshworks became India’s first SaaS unicorn
This showcased the unprecedented opportunity in the Indian SaaS space, but the reality is that India’s SaaS ecosystem accounts for just 1% of the global SaaS pie
The glut of younger SaaS businesses, however, are better placed to replicate Freshworks’ success than the companies that came before them
With favourable tailwinds, learnings from early SaaS players and far greater reach than was previously possible, what will the new SaaS stars look like?