The sudden change in global trends and the rise of ‘remote everything’ — from learning to work — has propelled the software-as-a-service (SaaS) industry.
And their customers include marquee names like Amazon, Twitter, Hyundai, Domino’s, and Philips, just to name a few. Venture capital firms like Accel, Tiger Global and Sequoia, looking for the next gold rush, have pumped in $1.7 billion across 128 deals in 2020, and more in 2021, creating at least seven unicorns in the space of less than 20 months, in India alone.
Enterprise tech accounted for 13% of deal volume among top investors in the first half of 2021, says a NASSCOM PGA Labs report.According to a report by investment firm Chiratae Ventures and consulting firm Zinnov last month, the Indian SaaS segment has the potential to clock a total turnover of $75 billion by 2025.