Software and SaaS have helped several industries grow manifold by assisting them to bring in more automated processes, making the workforce more productive, e-commerce too has benefited from this trend.
A dynamic tech startup scene is a common feature among the top startup ecosystems around the world. Incorporating technology? in the various aspects of running a business has proved to be beneficial for multiple industries and has helped them become more efficient.
A report on the funding patterns in the various e-commerce sub-sectors published by HexGn, the SaaS sub-sector presents an inconsistent growth graph for investments made into the startups in it for the years from 2014 to 2018. But when it comes to the entry of new players, the industry has fared well with several new startups on the helm offering software and SaaS within the e-commerce industry.
Here are some of the top startups that are helping shape the global e-commerce segment for the software and SaaS category.
Based in the San Francisco Bay Area, HelloSign is a fast-growing SaaS company that helps enterprises deal with paperwork and much more in a digitized manner. It was co-founded by Joseph Walla and Neal O’ Mara in 2011 and has picked up $16 million in funding from three rounds so far. HelloSign was acquired by Dropbox in January this year for $230 million. The digital workflow platform helps its customers run their businesses more efficiently offering solutions for eSignature, electronic fax, and digital workflow. Brands like Twitter, General Assembly, Samsung, and lyft are among the top companies that patronize HelloSign.
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CrowdStrike is computer and network security SaaS company based in Sunnyvale, California. The company offers endpoint solutions that are delivered through a cloud-based platform offering real-time protection even when the software is offline.? It offers simplified security solutions that can be easily integrated into a system for effective computer network security both offline and online.? CrowdStrike has raised $481 million since its inception. It was co-founded by Dmitri Alperovitch, Gregg Marston, and George Kurtz in 2011.? The company’s platform offers next-generation anti-virus services, potential threat detection, endpoint detection and response service, and real-time assessment of how vulnerable an endpoint is -all with a single agent.
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Indian e-commerce solutions provider MartJack is among the top SaaS e-commerce companies in the region. The company helps businesses new to the e-commerce arena by helping them set up their online store and also aids existing online retailers to overcome any challenges they may be facing. MartJack is based in Hyderabad and was founded by Abhay Deshpande in 2007. The SaaS platform is easy to use and is not time-consuming. Capillary Technologies, a cloud-based marketing platform, acquired MartJack in 2015. MartJack has established itself as a leading enterprise class e-commerce platform in India and the Middle East with a growing customer base of over 350 brands. Walmart,? the Body Shop, and Clarks are some of the brands the startup caters to.
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Optibus was co-founded by Amos Haggiag, Gady Shlasky, and Eitan Yanovsky in 2014. It developed a SaaS platform that changed the face of mass transit. It helps transport companies efficiently plan the movement of vehicles and their drivers.? The SaaS platform works for all scales of mass transit and uses AI and optimization algorithms to do the same.? Optibus has created a place for itself in the mass transportation systems in more than 300 cities and has offices in Dusseldorf, San Francisco, Tel Aviv, and London. It has found backing from prominent investors including Insight Venture Partners, Verizon Ventures, and Alibaba Group among the others.
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Headquartered in the Greater Los Angeles Area, ZipRecruiter is an online recruitment marketplace software.? It offers its services through its web-based portal and app connecting recruiters and job seekers through multiple channels. It was co-founded by Ian Siegel, Wills Redd,? Joe Edmonds, and Ward Poulos in 2010 in Santa Monica and has grown to a company with a large team with offices in three countries. ZipRecruiter is among the unicorn companies in the ecosystem and has acquired job board software JobBoard.io.? The last round of funding for the company was in 2018 in which it raised $156 million from Institutional Venture Partners. The total funding of ZipRecruiter stands at $219 million as of date.
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Zepo aids small businesses by helping them set up their e-commerce portals. The Mumbai based e-commerce solution provider offers an array of services including AI based marketing solutions, payment solutions, courier aggregation, and online marketplace services apart from the creation of the website. The company is the brainchild of Nitin Purswani who founded the company in 2011. Zepo has been trusted by more than 1,500 brands across industries who have found the services from the startup effective and beneficial for their business. The one-stop e-commerce solution company has also fared well in terms of funding and has raised $31.9 million till date.
Know more about this top SaaS startup in Mumbai
Highlights of the Software and SaaS E-commerce Industry
Since the e-commerce aspect of the software and SaaS industry is still a? new and untapped area, there are not many countries that recorded significant performances in this segment. In 2018, Spain and Chile led the way with the highest amount of investments made into software and SaaS startups in 2018.
The e-commerce software market was valued at $3.8 billion in 2016 and is expected to touch $4.6 million by 2021. There has been a 33% increase in the number of companies that have adopted SaaS e-commerce systems in recent years.
Upcoming Trends for the Software and SaaS E-Commerce Sector
Let us now look at some of the key trends that will be seen taking center stage in the coming years. These trends will help elevate the status of the software and SaaS e-commerce sector within the e-commerce industry.
- Adoption of mobile SaaS on a higher level can be expected in the coming years. The increase in the use of smartphones for running various e-commerce processes will be a key factor in fuelling this trend.
- The increasing demand for SaaS in various industries will give rise to micro SaaS platforms. These platforms are small scale SaaS businesses run by a single person or a small team.
- Artificial Intelligence will also be seen playing a vital role in the SaaS industry in the next five years.
- A rise in vertical SaaS platforms can also be expected. The customization features that vertical SaaS platforms offer and the cost-effectiveness of the same are two driving factors of the trend.
The software and SaaS e-commerce segment needs a good surge of investments into its startups in the coming years. While 2017 onwards, there has been an increase in the amount of funding, the pattern needs to continue for the segment to thrive and become a global player.