It's undeniable that software as a service (or SaaS) is growing rapidly. In fact, according to Gartner, there is a projected 37% cloud shift rate from legacy through 2020 for SaaS. Based on a survey conducted by BetterCloud, 73% of organizations who responded said that at least 80% of their business apps will be SaaS by 2020, a percentage that is expected to grow past 2020, too.
SaaS is changing the way organizations work. SaaS products distribute data online to be accessible from a browser on any device, which allows those companies to continue to host the software and provide constant IT support. This allows for stronger network security, greater collaboration, more features, and straight-forward, upfront prices. It's the future, and companies developing SaaS are being prized now more than ever, as long as they can keep up their customer lifecycles.
Some SaaS companies have stood out from the crowd this year as exceptional -- which is a tough feat. We've curated a list of the best, fastest-growing, and biggest SaaS companies and products to help you handle all of your cloud-based needs.
Best SaaS Companies
This data was collected by G2 Crowd. G2 Crowd uses the Grid® Scoring Technology, which establishes its scores of top companies and products on a scale of 0-100 based on user reviews, online sources, and social networks. You can read more about the Grid® Scoring Technology here.
Slack owns three products. Its main product, Slack, is a collaboration and chat tool that allows for internal messaging, video conferencing, and productivity bots. It was ranked 76 in market presence and 100 in satisfaction, leaving it with an overall score of 94.
Shopify owns four products. Its main product, Shopify, is an e-commerce platform for online stores and retail POS. It was ranked 76 in market presence and 99 in satisfaction, leaving it with an overall score of 94.
Google owns 137 products that are focused on Internet-related services, like search engine, digital analytics, document creation, online advertising, and more. It was ranked 92 in market presence and 94 in satisfaction, leaving it with an overall score of 93.
MailChimp owns three products. Its main product, MailChimp, is an email marketing platform that allows you to schedule automated emails and track the results. It was ranked 73 in market presence and 99 in satisfaction, leaving it with an overall score of 92.
Salesforce owns 58 products geared towards enterprise cloud computing that helps employees collaborate with their customers. It was ranked 85 in market presence and 94 in satisfaction, leaving it with an overall score of 92.
WordPress owns three products. Its products are part of an Open Source project to democratize writing and publishing. It was ranked 68 in market presence and 100 in satisfaction, leaving it with an overall score of 92.
SurveyMonkey owns nine products. Its main product, SurveyMonkey, is an online survey developer tool that allows for data analysis and representation. It was ranked 64 in market presence and 100 in satisfaction, leaving it with an overall score of 91.
Adobe owns 60 computer software products in digital media and marketing, printing, and publishing. It was ranked 86 in market presence and 92 in satisfaction, leaving it with an overall score of 91.
Zoom owns three products, all dedicated to providing remote video conferencing for online meetings and collaboration. It was ranked 66 in market presence and 98 in satisfaction, leaving it with an overall score of 90.
HubSpot owns seven products. We are an inbound marketing software company with tools focused on CRM, social media marketing, content management, web analytics and SEO. It was ranked 74 in market presence and 95 in satisfaction, leaving it with an overall score of 90.
Fastest-Growing SaaS Companies & Products
This data was collected by Okta. Okta based this data on the growth rate of these SaaS company's products over the course of 12 months. Okta creates their Businesses @ Work reports by analyzing customer data in a number of categories. You can read more about the Business @ Work reports here.
Jamf provides simplified IT solutions to Apple device management needs. Jamf experienced 389% growth in the 12-month period.
2. Cisco Webex
Cisco Webex -- formerly known as Cisco Spark -- is owned by Cisco. It provides the Webex Teams tool for team collaboration through video meetings, group messaging, file sharing, and more. Cisco Webex experienced 377% growth in the 12-month period.
KnowBe4 provides Security Awareness Training to help educate users on solving IT security problems related to spear phishing, engineering, and ransomware attacks. KnowBe4 experienced 290% growth in the 12-month period.
Zoom provides video conferencing tools for remote meetings. Zoom experienced 164% growth in the 12-month period.
5. Workplace by Facebook
Workplace is a platform owned by Facebook. It provides collaboration tools for communicating with groups and colleagues, as well as internal corporate social networks. Workplace experienced 163% growth in the 12-month period.
Statuspage is a tool owned by Atlassian. It is a status and incident tool that helps users create status pages during downtime. Statuspage experienced 128% growth in the 12-month period.
7. Cisco Umbrella
Cisco Umbrella is owned by Cisco. It is a cloud security platform that defends users against internet threats within minutes. Cisco Umbrella experienced 111% growth in the 12-month period.
DigiCert is a certificate authority third-party that can be added to your web browser to verify the authenticity of websites. DigiCert experienced 104% growth in the 12-month period.
InVision is a digital product design platform used to improve user experiences. InVision experienced 97% growth in the 12-month period.
Sophos provides security software and hardware tools for mobile and network security, encryption, threat management, and more. Sophos experienced 94% growth in the 12-month period.
Biggest SaaS Companies
This data was collected by The SaaS Report. The SaaS Report based this data on the largest SaaS companies on the market capitalization of each SaaS company. You can read more about The SaaS Report here.
Salesforce provides CRM solutions to business. The market capitalization of Salesforce 27. is $69 billion.
Workday provides a tool for human resources teams for financial management and human capital management. The market capitalization of Workday is $22.6 billion.
ServiceNow provides enterprise automation solutions for streamlining work and conversations across an entire organization. The market capitalization of ServiceNow is $19.6 billion.
Shopify is an e-commerce platform that helps organizations sell online and on social media. The market capitalization of Shopify is $10.9 billion.
Splunk provides software solutions for searching for, monitoring, analyzing, and interpret machine-generated big data. The market capitalization of Splunk is $9.4 billion.
6. Veeva Systems
Veeva Systems provides cloud solutions for applications in the pharmaceutical and global life sciences industries. The market capitalization of Veeva Systems is $8.3 billion.
7. Atlassian Corporation
Atlassian provides products, such as Jira and Confluence, that improve software development, team collaboration, project management, and code quality. The market capitalization of Atlassian Corporation is $7.6 billion.
LogMeIn provides tools for employees to access computers and devices, automate solutions, and provide support, all while working remotely. The market capitalization of LogMeIn is $6.3 billion.
9. The Ultimate Software Group
The Ultimate Software Group provides UltiPro solutions for every organizational department, including HR, payroll, talent management, tax management, and more. The market capitalization of The Ultimate Software Group is $5.9 billion.
athenahealth provides services to handle electronic health record (EHR) medical billing, care coordination, and other health services to health providers and patients. The market capitalization of athenahealth is $5.6 billion.
Next, read about the difference between IaaS, PaaS, and SaaS.