SaaS Startups are growing faster than ever in 2023. The global SaaS market is expected to reach over $220 billion this year as companies continue to adopt cloud-based solutions. With so many exciting new SaaS companies entering the market, how do you know which ones have the most traction and highest growth potential?
The opportunity around SaaS startups is immense. Larger organizations tend to use more SaaS applications. For instance, companies with over 1,000 employees utilize around 177 SaaS apps on average. In contrast, smaller firms with under 50 employees typically use just 16 apps. The number of apps used increases proportionally with the size of the company.
We’ve compiled the definitive list of the Top 120 Fastest Growing SaaS Startups to watch this year. These companies are innovating in key areas like AI, security, collaboration tools, and more. They are attracting top talent and major funding rounds from leading investors. Most importantly, they are seeing hockey stick growth, doubling and tripling revenue year over year.
In this article, we will highlight what makes each of these SaaS Startups so disruptive. We will analyze their total funding, valuations, growth metrics, and potential. Whether you are an entrepreneur looking for inspiration, an investor searching for the next unicorn, or an enterprise evaluating new vendors, you will find the most exciting and promising SaaS companies shaping the future in this exclusive ranking.
Read on to see which SaaS Startups dominate the Top 120 Fastest Growing companies list for 2023!
TLDR; Top 120 Fastest Growing SaaS Startups in 2023
- The global SaaS market is exploding, expected to reach $220 billion in revenue this year.
- The 120 fastest growing SaaS startups are profiled based on growth, funding, valuation.
- Startups are innovating in AI, security, collaboration, and other hot areas.
- Top startups include Synthesia, Replit, Semgrep, Stripe, Carta, Samsara, Loom, Calendly.
- All startups covered have strong traction with elite investors, massive growth.
- Article helps identify most promising and disruptive new SaaS startups to watch.
- Takeaway is to learn more about startups aligned to your interests.
- The future will be shaped by one or more of these forward-thinking SaaS startups.
The 120 Fastest Growing SaaS Startups in 2023
Synthesia is one of the fastest growing SaaS startups that is pioneering AI avatar technology to generate professional videos, allowing anyone to scale personalized video content. This innovative SaaS startup has attracted $90 million in funding from top VC Kleiner Perkins.
Replit is a unique collaborative SaaS startup providing an online IDE to code 50+ languages without setup, making programming more accessible. With $97 million in funding from Y Combinator and Andreessen Horowitz, this impressive SaaS startup is valued at $1.2 billion.
Semgrep is a leading SaaS startup in the cybersecurity space that profoundly improves code security and reliability through its revolutionary static analysis tool. This promising SaaS startup has raised $53 million in a Series C round led by Sequoia.
dashbot.io provides actionable and conversational bot analytics, enabling companies to optimize their chatbots. This growing SaaS startup received $6 million in Series A funding from Bessemer Venture Partners.
Tavus utilizes AI to generate sales conversations from text, allowing businesses to scale personalized outreach. This innovative SaaS startup has attracted investors like Sequoia Capital, raising $6 million in seed funding.
Hex is a unique SaaS startup creating a collaborative analytics and data science workspace to turn data into knowledge. With $28 million in Series B funding from Andreessen Horowitz, this impressive SaaS startup is one to watch.
Clerk offers SaaS solutions for full user management including signup, login, and profile building. This developer-focused SaaS startup has raised $15 million from leading investor Andreessen Horowitz.
The payments SaaS startup Stripe helps companies accept online payments and is one of the fastest growing SaaS startups globally. Stripe has raised a staggering $6 billion at a $50 billion valuation from investors like Sequoia Capital.
arketa makes it easy for fitness instructors to build online businesses with its fitness focused SaaS platform. This promising SaaS startup raised an $8 million Series A round from Y Combinator in 2022.
10. Second Front
Second Front Systems accelerates delivery of mission-critical SaaS solutions to the government, merging technology with national security. This unique govtech SaaS startup raised a $32 million Series A round from Kleiner Perkins in 2022.
11. Spot AI
Spot AI creates safer and smarter organizations through its AI camera system. This leading computer vision SaaS startup raised a $40 million Series B round from Bessemer Venture Partners in 2022.
Airplane provides developer infrastructure for internal tools, optimizing workflows. This developer-focused SaaS startup raised $32 million in a Benchmark-led Series B round in 2022.
Giraffe360 builds robotic tech for 360 photography and virtual tours for real estate agents. This proptech SaaS startup raised $16 million in a Series A round led by Founders Fund in 2022.
Zylo controls SaaS sprawl, improving productivity and lowering costs, with over 100 employees. This growing SaaS startup raised a $32 million Series C round led by Bessemer Venture Partners in 2022.
Unito automatically synchronizes projects and tasks between work management tools, enhancing productivity. This collaboration-focused SaaS startup raised a $20 million Series B round led by Bessemer Venture Partners in 2022.
Workstream is an automated hiring platform for hourly workers that has raised $60 million at a $500 million valuation. This high-growth HR SaaS startup is funded by leading investor Founders Fund.
Kumo allows businesses to make faster and smarter predictions with its no-code AI platform. This promising SaaS startup raised an $18 million Series B round from Sequoia Capital in 2022.
GlossGenius provides a vertical SaaS platform tailored to salons and spas that has raised $25 million from Bessemer Venture Partners. This market-leading SaaS startup is fueling growth for beauty industry entrepreneurs.
TripActions simplifies corporate travel management, controlling costs and delighting employees. This travel-focused SaaS startup has raised $2.2 billion in funding, reaching unicorn status.
UiPath is an RPA leader that automates complex processes and enhances efficiency. This rapidly growing SaaS startup has raised $2 billion in funding at unicorn valuation levels.
Dropbox pioneered file sharing and content collaboration SaaS solutions for businesses. This widely adopted SaaS startup has raised $1.7 billion in funding to date.
Articulate, one of the fastest growing SaaS startups, develops e-learning tools and platforms used by millions globally. With $1.5 billion in funding, this EdTech SaaS startup leads the industry.
Slack created the leading chat-based collaboration hub for enterprises, before selling to Salesforce. This iconic SaaS startup raised $1.4 billion from investors like Accel and Andreessen Horowitz.
Airtable is a visual database platform that blends spreadsheets with productivity software. This fast-growing SaaS startup has raised $1.4 billion in funding and is valued at over $11 billion.
Netskope offers cloud security and data protection for the remote workforce. This top cybersecurity SaaS startup has raised $1.4 billion in funding to date.
Okta pioneered identity management SaaS solutions for seamless security across devices. This unicorn SaaS startup has raised $1.2 billion and is valued at over $15 billion.
Rippling consolidated HR software, managing payroll, benefits and apps in one SaaS platform. This leading HR SaaS startup has raised $1.2 billion from leading investors like Kleiner Perkins.
SurveyMonkey transformed surveys and feedback solutions with its enterprise SaaS platform. This market leading SaaS startup has raised over $1.1 billion in funding to date.
29. Service Titan
ServiceTitan created an all-in-one software platform for home services businesses. This fast scaling SaaS startup has joined the unicorn club with $1.1 billion in funding.
Box provides secure cloud content management and collaboration solutions for the enterprise. This widely used SaaS startup has raised $1.1 billion in funding from leading investors like Draper Fisher Jurvetson.
Mailchimp pioneered intuitive email marketing automation for small businesses, before selling to Intuit. This massively successful SaaS startup raised significant funding from philanthropic VC Ben Chestnut.
Toast created an all-in-one restaurant management platform tailored to the food industry. This high-growth SaaS startup has raised nearly $1 billion to become a restaurant tech leader.
Zoom provides frictionless video communication and collaboration solutions for the remote workforce. This ubiquitous SaaS startup has raised over $900 million in funding at a $70 billion valuation.
Wiz helps secure cloud infrastructure through its cybersecurity SaaS solutions. This fast-growing SaaS startup has raised $900 million from Sequoia Capital and other leading investors.
Upland Software builds enterprise communication SaaS solutions for marketing, sales, and support teams. This acquisition-driven SaaS startup has raised over $830 million in funding to date.
Cohesity consolidates complex secondary data workflows onto a web-scale platform. This forward-thinking SaaS startup has raised over $800 million from leading enterprise investors like GV and Sequoia.
OutSystems provides a low-code development SaaS platform to rapidly build custom apps. This innovative SaaS startup has raised over $800 million from investors like Goldman Sachs.
Klaviyo provides growth marketing automation tailored for ecommerce brands. This fast-scaling SaaS startup has raised nearly $780 million from Summit Partners and others.
Gusto offers consolidated payroll, benefits, and HR solutions for SMBs on an easy-to-use SaaS platform. This people-focused SaaS startup has raised over $740 million from leading investors like Y Combinator.
Socure provides predictive analytics SaaS solutions for digital identity verification and fraud prevention. This cybersecurity SaaS startup has raised $740 million in funding, reaching unicorn status.
Deel enables global payroll, compliance and payments for international teams. This remote work SaaS startup has raised nearly $680 million from leading investors like Andreessen Horowitz.
Lucid is a visual collaboration SaaS suite that helps teams ideate and innovate together. This design-focused SaaS startup has raised over $670 million in funding to date.
Axonius has developed a cybersecurity asset management SaaS platform for enterprises. This fast-growing SaaS startup has raised $665 million in funding from leading cyber investors.
Procore provides construction management SaaS solutions tailored for contractors and developers. This unicorn SaaS startup has raised $650 million at a $5 billion valuation.
Mindbody provides business management SaaS solutions for gyms, salons and wellness centers. This industry leader has raised over $615 million in funding since its founding.
Twilio enables developers to integrate messaging, voice and video using its communications SaaS platform. This API-first SaaS startup has raised $614 million from investors like Bessemer.
Square created an integrated hardware/software payments solution tailored for merchants. This fintech SaaS startup has raised over $600 million from investors like Khosla Ventures.
Vonage acquired Telecom APIs like Nexmo and TokBox to build a leading communications SaaS platform. This programmable communications SaaS startup has raised nearly $600 million to date.
Zenefits offers consolidated HR software for payroll, benefits, compliance and more aimed at SMBs. This HR SaaS startup has raised over $580 million on the promise of radically simplifying HR.
Gong.io provides revenue intelligence software powered by AI to optimize sales conversations and processes. This fast-growing sales SaaS startup has raised $583 million from leading investors like Sequoia Capital.
Squarespace empowers anyone to build beautiful websites with its all-in-one web development SaaS platform. This consumer-facing SaaS startup has raised nearly $580 million from investors like Accel.
CoreWeave provides a cloud computing SaaS platform powered by GPUs for demanding workloads like AI. This niche infrastructure SaaS startup has raised over $575 million from leading enterprise investors.
Motive builds fleet tracking and management SaaS solutions for equipment-centric businesses. This fast-growing IoT SaaS startup raised a $567 million round led by Energize Ventures in 2022.
BetterUp offers AI-powered coaching and mentorship SaaS solutions tailored for the enterprise. This unicorn SaaS startup has raised nearly $570 million from leading investors like Lightspeed Venture Partners.
Wasabi provides affordable, flexible cloud storage SaaS solutions as an alternative to hyperscalers. This cloud infrastructure SaaS startup has raised over $549 million in funding to date.
ClickUp consolidates multiple workflows from tasks to docs in one collaborative productivity SaaS platform. This fast-growing SaaS startup has raised $537 million from investors like Craft Ventures.
DocuSign pioneered e-signature SaaS solutions and expanded into full agreement cloud capabilities. This ubiquitous SaaS unicorn has raised over $535 million at a $37 billion valuation.
Grafana Labs created the leading open observability platform powered by metrics and logs. This robust monitoring SaaS startup has raised over $535 million from leading enterprise investors.
BlueVoyant provides managed cybersecurity SaaS solutions combining internal and external threat intelligence. This cyber defense SaaS startup has raised over $525 million from top-tier VC firms.
Symphony revolutionized secure communication for financial firms with its messaging SaaS platform. This enterprise SaaS startup has raised over $500 million with investments from Google and others.
OwnBackup provides backup and recovery SaaS solutions tailored for Salesforce applications. This niche SaaS startup focuses on resilient enterprise data workflows.
HoneyBook empowers creative small business owners with its tailored business management SaaS platform. This SMB-focused SaaS startup has raised nearly $500 million from leading investors like Durable Capital Partners.
Talkdesk created an enterprise-grade contact center SaaS platform delivered via public cloud. This fast-growing SaaS startup has raised nearly $500 million from VCs like Viking Global Investors.
Fuze unified communications and collaboration across devices for the mobile workforce. This global UCaaS provider was acquired by 8×8 after raising $494 million.
Outreach created the leading sales engagement SaaS platform to optimize the entire revenue cycle. This high-growth unicorn SaaS startup has raised $489 million to date.
CrowdStrike provides next-gen endpoint security delivered via its cloud-native Falcon platform. This leading cybersecurity SaaS startup has raised over $480 million from elite VCs.
Freshworks creates intuitive SaaS solutions for businesses to engage with customers and employees. This global SaaS startup based out of San Mateo has raised nearly $500 million to date.
Databricks provides a unified analytics SaaS platform for AI, machine learning and data science built on Apache Spark. This data-focused SaaS unicorn has raised $1.6 billion at a $28 billion valuation.
Segment provides customer data infrastructure SaaS solutions to collect, clean and control data. This API-first SaaS startup has raised over $680 million from elite investors like Thrive Capital.
Carta modernizes equity management and cap table workflows with its specialized SaaS solutions. This high-growth SaaS unicorn has raised $1.2 billion on the way to a $7.4 billion valuation.
Bloomreach offers SaaS solutions for digital experience, site search and personalization. This marketing SaaS startup has raised over $320 million from leading enterprise investors.
Vercel provides a developer platform and hosting for front-end websites and apps. This full stack SaaS startup has raised $313 million from Accel and other top investors.
Scale AI provides training data SaaS solutions for AI applications like self-driving vehicles and robotics. This promising AI SaaS startup has raised $621 million from investors like Index Ventures.
Dataiku offers an end-to-end enterprise AI SaaS platform covering data prep, model development and monitoring. This full lifecycle AI SaaS startup has raised nearly $400 million to date.
Benchling provides R&D cloud SaaS solutions tailored for cutting edge industries like biotech. This niche SaaS startup targeting scientists has raised over $350 million from leading tech investors.
Samsara builds IoT SaaS solutions for operations management across industries like transportation. This fast-growing industrial IoT SaaS startup has raised over $930 million at a $7.7 billion valuation.
Fastly provides an edge cloud SaaS platform for high performance content delivery. This unicorn infrastructure SaaS startup has raised nearly $220 million in funding.
Loom makes it easy to record and share video walkthroughs using its asynchronous video SaaS platform. This viral SaaS startup has raised $203 million from Sequoia Capital and Kleiner Perkins.
Snyk offers developer-first security SaaS solutions focused on open source and container vulnerabilities. This leading cybersecurity SaaS startup has raised $1.2 billion in funding to date.
Cloudinary optimizes media management and streaming for apps and websites. This niche SaaS startup has raised nearly $200 million from elite SaaS investors like Bessemer Venture Partners.
Opendoor pioneered instant home buying and selling with its real estate SaaS solutions. This proptech unicorn has raised over $3 billion at an $8 billion valuation.
Lattice provides performance management SaaS solutions tailored to encourage employee growth. This people-focused SaaS startup has raised nearly $200 million from leading investors like Thrive Capital.
Bench automates bookkeeping and accounting workflows for small businesses with its finance SaaS platform. This accounting SaaS startup has raised over $120 million from elite investors like Menlo Ventures.
nCino built bank operating software to streamline lending and digital banking with its niche FinTech SaaS solutions. This banking SaaS unicorn has raised nearly $600 million at a $2.7 billion valuation.
Sprinklr provides unified customer experience management SaaS solutions across marketing, advertising, research, and care. This CX leader has raised nearly $400 million on the way to IPO.
KeepTruckin enables fleet management and efficiency for long-haul trucks with its transportation SaaS solutions. This high-growth IoT SaaS startup has raised over $360 million from IVP and Google Ventures.
Calendly provides scheduling automation SaaS solutions that integrate into workflows. This wildly viral SaaS startup has raised $350 million from OpenView Venture Partners and Iconiq.
Pendo guides users on applications and improves product adoption with its analytics SaaS platform. This product adoption SaaS startup has raised $360 million from elite Valley investors.
Backblaze provides low cost cloud storage SaaS solutions as a durable and scalable alternative. This bootstrapped storage SaaS startup has raised over $100 million in funding.
Harness provides automated continuous delivery SaaS solutions for deploying software faster and smarter. This DevOps SaaS startup has raised nearly $200 million from leading investors like IVP, GV, and Menlo Ventures.
PostHog offers open-source product analytics SaaS software for product-led companies. This developer-friendly analytics SaaS startup is based in San Francisco.
ChartMogul provides analytics SaaS specifically for subscription businesses to optimize recurring revenue. This niche analytics SaaS startup is based in Berlin, Germany.
Fivetran provides automated data integration SaaS solutions for simplifying pipelines between apps and warehouses. This data integration SaaS leader has raised over $590 million from Andreessen Horowitz.
Drata audits and monitors security and compliance SaaS software for high-risk industries. This innovative regulatory SaaS startup has raised $200 million from lead investors like GGV Capital.
Supernormal builds customer data infrastructure SaaS tailored for commerce companies. This retail-focused SaaS startup has raised $50 million from Greylock Partners.
Coda modernizes docs with its intuitive doc creation and collaboration SaaS platform. This productivity SaaS startup has raised $172 million from Greylock Partners and Benchmark.
Hightouch syncs customer data across sales and marketing SaaS stacks like Salesforce to Marketo. This data activation SaaS startup has raised $58 million from leading enterprise investors.
Particle provides an API-first IoT platform for managing connected devices and edge networks. This hardware SaaS startup has raised nearly $140 million from Root Ventures and Qualcomm Ventures.
DeployHub offers gitops based continuous delivery SaaS solutions for Kubernetes deployments. This DevOps SaaS startup has raised $19 million from leading SaaS investors like Boldstart Ventures.
WorkOS builds SaaS solutions tailored to enterprise identity, authentication and security workflows. This security SaaS startup has raised $10 million from Bessemer Venture Partners.
Doppler provides environment management SaaS to securely store variables across teams. This unique secrets management SaaS startup has raised $20 million from IVP.
Paddle streamlines SaaS payments, billing and compliance for subscription businesses. This payments SaaS startup has raised nearly $200 million from Fidelity Management.
Rippling consolidates HR, IT and payroll on one SaaS platform aimed at SMBs. This full stack HR SaaS startup has raised over $1 billion from leading investors like Kleiner Perkins.
Epsagon provides observability SaaS tailored for containerized and serverless applications. This monitoring SaaS startup focuses on modern tech stacks.
ChartHop unlocks people analytics for HR and management with data visualization SaaS software. This people analytics SaaS startup has raised $45 million from Andreessen Horowitz.
Miro provides an online collaborative whiteboarding SaaS platform for visual collaboration across teams. This design SaaS startup has raised $350 million at a $17 billion valuation.
Retently offers customer retention SaaS designed to reduce churn by fostering engagement. This niche retention SaaS startup has raised $10 million in funding to date.
Userpilot built in-app user analytics and product adoption SaaS software for product-led growth. This analytics SaaS startup has raised funding from Accel and other leading valley investors.
Dashdash makes it easy for anyone to build SaaS solutions tailored to their needs with low code tools. This unique low-code SaaS startup has raised $22 million in seed funding from NEA.
Kustomer provides next-gen CRM SaaS solutions tailored for customer support teams. This customer service SaaS unicorn has raised over $270 million before selling to Facebook.
Personio consolidates HR software on one SaaS platform built for SMEs. This international HR SaaS startup based in Munich has raised $534 million from top investors.
Plectica offers developer-focused observability SaaS solutions tailored for Kubernetes. This monitoring SaaS startup focuses on cloud-native apps.
New Relic provides full-stack observability SaaS solutions for performance monitoring and troubleshooting. This established SaaS startup has raised nearly $1 billion in funding and IPO’d in 2014.
Zendesk pioneered the customer support helpdesk software market with its service SaaS solutions. This customer service SaaS leader has raised over $800 million and IPO’d at a $3.5 billion valuation.
115. Wow Analytics
Wow Analytics provides no-code web analytics SaaS solutions for startups and small businesses. This easy-to-use analytics SaaS startup has raised $8 million in seed funding to date.
Pendo guides users and fosters product adoption with its analytics and engagement SaaS platform. This product experience SaaS leader has raised over $200 million from elite SaaS investors.
Khoros builds social media management and community engagement SaaS solutions for enterprises. This social SaaS startup has raised $200 million from leading growth equity investors.
Guru creates knowledge management SaaS software to leverage information sharing and documentation. This knowledge base SaaS startup has raised $70 million from leading valley investors.
Tableau pioneered business intelligence SaaS solutions with easy to use data visualization dashboards. This BI leader has raised over $1.3 billion before being acquired by Salesforce.
ThoughtSpot builds search and AI-driven analytics SaaS to empower everyone with data insights. This analytics SaaS startup has raised $740 million at a $4.2 billion valuation.
121. Ultimate Software
Ultimate Software offers a leading HR and payroll management SaaS platform aimed at mid-market and large businesses. This long-standing HR software provider has raised over $385 million in funding before being acquired by Hellman & Friedman for $11 billion.
Wrapping Up: Fastest Growing SaaS Startups in 2023
With over 220 billion in revenue this year, the SaaS startup scene is exploding. We hope this definitive ranking of the Top 120 Fastest Growing SaaS Startups helps you discover the next wave of innovative companies transforming how we work and live.
These leading SaaS startups are clearly onto something big. With top talent and major funding from prestigious investors, they have tremendous momentum. Their hockey stick growth proves these startups have honed in on real pain points begging for solutions.
The question is – which of these exciting SaaS startups will you pay attention to? Is there one aligned with your interests that caught your eye? We challenge you to learn more about a few that piqued your curiosity. Study their philosophies.
Try their products. Who knows? – you may find your next game-changing SaaS startup in this exclusive list! The future will clearly be shaped by one or more of these forward-thinking companies.