A Complete 2023 List of the Top SaaS Unicorns Out There
February 15, 2023
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Business
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15
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The SaaS industry has seen tremendous growth in recent years, with more and more companies reaching the coveted status of a unicorn. A unicorn, in business terms, is a privately held startup company valued at over $1 billion.
These companies have disrupted traditional industries and have changed the way we do business. The SaaS industry has been at the forefront of this trend, with a multitude of companies reaching unicorn status.
The SaaS industry has seen a significant shift in the past few years, driven by the increasing popularity of cloud computing and the shift towards remote work. As a result, more and more SaaS companies are reaching unicorn status, with valuations of over $1 billion. According to CB Insights , the number of SaaS unicorns has more than doubled since 2015, with over 100 SaaS companies achieving this milestone as of 2021.
So, who are the top SaaS unicorns out there? In this article, I’ll take a look at some of the most notable companies in the industry, along with some quick facts about each, but before, let’s answer the question of “What is a SaaS Unicorn?”.
In the business world, the term "unicorn" is used to describe a privately held startup company valued at over $1 billion. In recent years, the number of unicorns in the software as a service (SaaS) industry has grown rapidly, with more and more companies achieving this coveted status. But what exactly are SaaS unicorns, and what sets these companies apart from the rest?
SaaS, or software as a service, refers to a model of software delivery in which a company hosts and maintains the software, making it available to customers over the internet. This is in contrast to traditional software delivery models, in which customers purchase and install the software on their own computers or servers. SaaS companies typically generate revenue through subscription-based pricing rather than one-time licensing fees.
Here is a list of some of the most notable companies in the industry, along with some quick facts about each:
SaaS Unicorns of 2023
Zoom Video Communications
Located in: San Jose, California
Number of employees: Over 3,500
Valuation: $35 billion (as of 2021)
Funding amount: $145.5 million
Founded in 2011, Zoom is a video conferencing platform that has seen tremendous growth in recent years, thanks in large part to the COVID-19 pandemic. The company went public in 2019 and has seen its valuation skyrocket as more and more people have turned to the platform for remote work and communication.
Slack Technologies
Located in: San Francisco, California
Number of employees: Over 2,800
Valuation: $15 billion (as of 2021)
Funding amount: $1.4 billion
Slack is a team collaboration platform that enables users to communicate and share files within a single platform. It is widely used by businesses of all sizes and has become a popular alternative to email and other messaging tools. Slack went public in 2019.
PagerDuty is a cloud-based incident management platform that helps businesses respond to critical events and minimize downtime. The company went public in 2019.
Datadog
Located in: New York City, New York
Number of employees: Over 2,000
Valuation: $15 billion (as of 2021)
Funding amount: $148.5 million
Datadog is a cloud-based monitoring and analytics platform that helps businesses monitor their IT infrastructure, applications, and logs. The company went public in 2019 and has seen its valuation soar as more and more businesses turn to the platform for monitoring and troubleshooting.
HubSpot
Located in: Cambridge, Massachusetts
Number of employees: Over 3,000
Valuation: $5 billion (as of 2021)
Funding amount: $100 million
HubSpot is an inbound marketing, sales, and service platform that helps businesses attract, engage, and delight customers. The company went public in 2014 and has become a leader in the marketing automation space.
CrowdStrike
Located in: Sunnyvale, California
Number of employees: Over 2,500
Valuation: $7 billion (as of 2021)
Funding amount: $481 million
CrowdStrike is a cloud-based endpoint protection platform that uses artificial intelligence and machine learning to protect businesses from cyber threats. The company went public in 2019 and has become a leader in the cybersecurity space.
Okta
Located in: San Francisco, California
Number of employees: Over 1,500
Valuation: $14 billion (as of 2021)
Funding amount: $230 million
Okta is an identity and access management platform that helps businesses secure and manage access to their applications and data. The company went public in 2017 and has become a leader in the identity management space..
AppFolio
Located in: Santa Barbara, California
Number of employees: Over 1,200
Valuation: $3 billion (as of 2021)
Funding amount: $71 million
AppFolio is a cloud-based property management and legal software platform for the property management and legal industries. The company went public in 2015 and has become a leader in the property management software space.
Twilio
Located in: San Francisco, California
Number of employees: Over 3,000
Valuation: $40 billion (as of 2021)
Funding amount: $240.5 million
Twillio is a cloud communications platform that enables businesses to connect with customers through voice, text, and video. The company went public in 2016 and has become a leader in the cloud communications space.
Stripe
Located in: San Francisco, California
Number of employees: Over 2,800
Valuation: $95 billion (as of 2021)
Funding amount: $450 million
Stripe is a payment processing platform that enables businesses to accept and manage online payments. The company offers a wide range of tools for businesses to easily integrate and manage their payments and has become a popular choice for online businesses of all sizes. Stripe has raised a significant amount of funding and has a high valuation.
UiPath
Located in: New York City, New York
Number of employees: Over 2,500
Valuation: $10 billion (as of 2021)
Funding amount: $1.2 billion
UiPath is a Robotic Process Automation (RPA) software company that helps businesses automate repetitive tasks and processes. The company's platform allows businesses to automate tasks such as data entry, customer service, and back-office operations. UiPath is considered a leader in the RPA space and has raised a significant amount of funding.
Robinhood
Located in: Menlo Park, California
Number of employees: Over 1,000
Valuation: $11.2 billion (as of 2021)
Funding amount: $539 million
Robinhood is a commission-free stock trading platform that makes it easy for anyone to invest in the stock market. The company's app allows users to buy and sell stocks with no commissions or fees, making it a popular choice for retail investors. Robinhood has raised a significant amount of funding and has a high valuation.
Postmates
Located in: San Francisco, California
Number of employees: Over 1,500
Valuation: $2 billion (as of 2021)
Funding amount: $678 million
Postmates is a delivery platform that enables businesses and individuals to have anything delivered to them on demand. The company partners with local merchants and delivery drivers to offer delivery services for a wide range of goods, including food, groceries, and more. Postmates has raised a significant amount of funding and has a high valuation.
Instacart
Located in: San Francisco, California
Number of employees: Over 10,000
Valuation: $17 billion (as of 2021)
Funding amount: $1.9 billion
Instacart is an online grocery delivery platform that allows users to shop for groceries from local stores and have them delivered to their doorsteps. The company partners with a wide range of retailers, including major grocery chains, to offer delivery services to customers. Instacart has raised a significant amount of funding and has a high valuation.
Coursera
Located in: Mountain View, California
Number of employees: Over 800
Valuation: $2 billion (as of 2021)
Funding amount: $313.1 million
Coursera is an online learning platform that offers courses from top universities and institutions around the world. The company's platform allows users to learn new skills and earn certifications online and has become a popular choice for online education. Coursera has raised a significant amount of funding and has a high valuation.
Robin Healthcare
Located in: San Francisco, California
Number of employees: Over 500
Valuation: $2 billion (as of 2021)
Funding amount: $120 million
Robin Healthcare is a telemedicine platform that allows users to connect with doctors and healthcare providers remotely. The company's platform enables users to have virtual consultations with doctors, get medical advice, and receive prescriptions. Robin Health has raised a significant amount of funding and has a high valuation.
Square
Located in: San Francisco, California
Number of employees: Over 4,000
Valuation: $70 billion (as of 2021)
Funding amount: $590 million
Square is a financial services and mobile payments company that offers a wide range of tools for businesses to easily manage their finances and accept payments. The company's platform allows businesses to process payments quickly, manage inventory, and more. Square has raised a significant amount of funding and has a high valuation.
Canva
Located in: Sydney, Australia
Number of employees: Over 700
Valuation: $6 billion (as of 2021)
Funding amount: $275 million
Canva is a graphic design platform that enables anyone to create professional designs without needing a designer. The company offers a wide range of templates, design elements, and tools to help users create designs for various purposes, such as social media posts, brochures, and more. Canva has raised a significant amount of funding and has a high valuation.
Gusto
Located in: San Francisco, California
Number of employees: Over 1,000
Valuation: $3 billion (as of 2021)
Funding amount: $170 million
Gusto is a cloud-based payroll and benefits platform for small businesses. The company's platform allows businesses to easily manage their payroll, benefits, and compliance needs all in one place. Gusto has raised a significant amount of funding and has a high valuation.
Lemonade
Located in: New York City, New York
Number of employees: Over 400
Valuation: $2 billion (as of 2021)
Funding amount: $480 million
Lemonade is an insurtech company that uses AI and behavioral economics to make insurance simple and affordable. The company's platform allows users to purchase insurance, file claims, and manage their policies all in one place. Lemonade has raised a significant amount of funding and has a high valuation.
ZoomInfo
Located in: Vancouver, Washington
Number of employees: Over 2,500
Valuation: $2 billion (as of 2021)
Funding amount: $132 million
ZoomInfo is a business intelligence and sales intelligence platform that helps businesses find and engage with new customers. The company's platform provides companies with access to a vast database of business and contact information, allowing them to identify potential customers and generate leads. ZoomInfo has raised a significant amount of funding and has a high valuation.
InVision
Located in: New York City, New York
Number of employees: Over 1,000
Valuation: $2 billion (as of 2021)
Funding amount: $115 million
InVision is a digital product design platform that enables teams to design, prototype, and share interactive designs. The company's platform allows teams to collaborate and streamline the design process, helping them to bring digital products to market faster. InVision has raised a significant amount of funding and has a high valuation.
Brightcove
Located in: Boston, Massachusetts
Number of employees: Over 800
Valuation: $2 billion (as of 2021)
Funding amount: $121 million
Brightcove is a cloud-based video platform that enables businesses to easily create, host, and distribute video content. The company's platform provides businesses with a wide range of tools to manage and monetize their video content and has become a popular choice for video content creators of all sizes. Brightcove has raised a significant amount of funding and has a high valuation.
In Summary
These are just a few examples of the top SaaS unicorns out there. The industry is constantly evolving, and new companies are achieving unicorn status every year. These companies have disrupted traditional industries and have changed the way we do business.
The SaaS industry has been at the forefront of this trend, with a multitude of companies reaching unicorn status. As more and more companies adopt SaaS solutions, the number of SaaS unicorns is likely to continue to grow in the coming years.