About SaaS sector in India
The SaaS sector in India comprises 37.1K companies, including 3.91K funded companies having collectively raised $33B in venture capital money and private equity. Out of these, 1.07K are Series A+ funded, and 29 have achieved unicorn status.
SaaS sector in India has seen 467 acquisitions and 64 IPOs.
This sector includes companies providing cloud-based, multi-tenant and subscription or on-demand B2B software applications.
SaaS sector is also known as SaaS Solutions, Advanced SaaS or Digital SaaS.
All B2B software that offers cloud-based, multi-tenant solutions for business functions like Marketing, HR, Sales, Business Intelligence, etc are included in this sector. 1. All On-premise B2B software are excluded. 2. All companies that do not offer their own proprietary software are excluded. 3. Services and Consulting firms are also excluded. 4. Resellers are also excluded.
Top SaaS Companies in India
There are 37,107 SaaS startups in India which include Shiprocket, Razorpay, Mygate, Freshworks, PeopleStrong. Out of these, 3,914 startups are funded, with 1,067 having secured Series A+ funding, and 29 achieving unicorn status.
2026 has seen the creation of 3,048 SaaS startups in India. Over the past 10 years, an average of 2,096 new companies have been launched annually. Notably, several of these startups have been founded by alumni of BITS Pilani, IIT Bombay and IIT Delhi.
Here is the list of top SaaS startups in India
1. Shiprocket
Provider of e-commerce shipping, fulfillment, marketing, and financial services. The business offers tools for domestic and cross-border shipping, including integrations with courier partners. Fulfillment services encompass warehousing, packaging, and shipping. Marketing solutions include checkout optimisation and customer engagement tools. Financial services provide capital and credit score assessment.
Key facts about Shiprocket
- Founded Year: 2012
- Location: Gurugram (India)
- Stage: Series E
- Total Funding till date: $322M
- Investors: Temasek, Bertelsmann India Investments and 63 Others
- Latest Funding Round: Series E, Dec 23, 2024, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 1 of 1,459 Competitors
2. Razorpay
Provider of payment and business banking solutions for enterprises. The company offers tools for payment acceptance, automated payroll, and business banking. Solutions include payment gateways, current accounts, and corporate credit cards. It also provides developer resources such as API documentation and integration tools.
Key facts about Razorpay
- Founded Year: 2014
- Location: Bengaluru (India)
- Stage: Series F
- Total Funding till date: $742M
- Investors: Peak XV Partners, GIC and 35 Others
- Latest Funding Round: Series F, Dec 19, 2021, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 2 of 715 Competitors
3. Mygate
Provider of a community management and residential living platform. It is focused on visitor management, payments, bookings, communication, and society operations. Its resident app page describes features such as visitor approvals, amenity booking, and access to local services, while its broader offerings page highlights ERP, accounting, and security modules.
Key facts about Mygate
- Founded Year: 2016
- Location: Bengaluru (India)
- Stage: Series B
- Total Funding till date: $93.8M
- Investors: Monteverdi, Tiger Global Management and 48 Others
- Latest Funding Round: Series B, Jun 10, 2026, $*****
- Tracxn Score: 84/100 What is this?
- Competitors Rank: 1 of 630 Competitors
4. Freshworks
Provider of IT service management and customer support solutions. The platform features in delivering AI-assisted cloud platforms designed to streamline IT service management, customer service, and CRM. It offers a suite that leverages advanced, agentic AI features that autonomously reason, act, and resolve issues, enabling ticket resolution.
Key facts about Freshworks
- Founded Year: 2010
- Location: Chennai (India)
- Stage: Public
- Total Funding till date: $400M
- Investors: Accel, Tiger Global Management and 9 Others
- Latest Funding Round: Series H, Nov 04, 2019, $*****
- Tracxn Score: 84/100 What is this?
- Competitors Rank: 5 of 11,448 Competitors
5. PeopleStrong
Provider of human capital management platform offering integrated HR solutions. The platform delivers modules for talent acquisition, onboarding, and core human resources functions. It also provides payroll, leave and attendance, performance, learning, and career and skills management. The platform offers succession planning, compensation, analytics, and collaboration tools.
Key facts about PeopleStrong
- Founded Year: 2005
- Location: Gurugram (India)
- Stage: Acquired
- Total Funding till date: $30.7M
- Investors: West Street AEP I Offshore Aggregator, HDFC Bank and 41 Others
- Latest Funding Round: Series C, Jun 04, 2025, $*****
- Tracxn Score: 82/100 What is this?
- Competitors Rank: 2 of 2,907 Competitors
Companies founded year-on-year in the SaaS sector in India
3,048 new startups have been founded so far in 2026 in the SaaS sector in India. 3,106 SaaS startups in India were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 3,048 |
2025 | 1,465 |
2024 | 1,736 |
2023 | 1,912 |
2022 | 1,656 |
2021 | 2,101 |
2020 | 3,106 |
2019 | 2,288 |
2018 | 1,835 |
2017 | 1,820 |
Stage-wise distribution of SaaS sector companies in India
Out of the total 37,107 SaaS companies in India, 3,914 have secured funding. Among them, 1,067 have reached Series A or higher, and 727 to Series B or beyond.
Founded - 37,107
Funded - 3,914
Series A+ - 1,067
Series B+ - 727
Series C+ - 612
Company Stage | No. of companies |
|---|---|
Founded | 37,107 |
Funded | 3,914 |
Series A+ | 1,067 |
Series B+ | 727 |
Series C+ | 612 |
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Funding Trends in the SaaS sector in India
Total funding year-on-year in the SaaS sector in India
The SaaS sector in India saw a total funding of more than $30.3B in the last 10 years. The most amount of funding was in 2021 at more than $7.34B. There has been a total funding of $2.25B in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $2.25B |
2025 | $2.38B |
2024 | $2.93B |
2023 | $1.9B |
2022 | $4.98B |
2021 | $7.34B |
2020 | $1.9B |
2019 | $2.23B |
2018 | $1.22B |
2017 | $3.13B |
Recent Funding Rounds in SaaS in India
In the year 2026, till July 2026, SaaS companies in India have raised $2.24B in equity funding across 197 rounds.
In the same period last year (i.e. till July 2025), SaaS companies in India had raised $1.39B across 285 rounds.
So, 2026 has seen a 60.28% rise in funding in SaaS companies in India as compared to 2025.
Here are some recent, important funding rounds in SaaS companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 7852 | Jul 30, 2026 | and 1 more | |
Angel | 5478 | Jul 27, 2026 | ||
Series A | 7920 | Jul 23, 2026 | ||
Series B | 4831 | Jul 23, 2026 | ||
Seed | 1655 | Jul 21, 2026 | - |
Top Investors in SaaS in India
Accel is the top investor in SaaS companies in India based on number of companies invested.
Here are some top investors in SaaS companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Palo Alto (United States) | ||
Redwood City (United States) | ||
Menlo Park (United States) | ||
Cambridge (United States) | ||
Menlo Park (United States) |
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M&A activity in SaaS sector in India
In the year 2026, till July 2026, 20 acquisitions happened in SaaS sector in India. Last year, in 2025, a total of 46 acquisitions happened in SaaS sector in India.
Here are some recent, important acquisitions in SaaS sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jul 09, 2026 | ||
Business Acquisition | Jul 06, 2026 | ||
Business Acquisition | Jun 26, 2026 | ||
Business Acquisition | Jun 07, 2026 | ||
Business Acquisition | May 20, 2026 |
Acquisition trends in SaaS sector in India
Here are the acquisition trends in SaaS sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 20 |
2025 | 46 |
2024 | 38 |
2023 | 31 |
2022 | 67 |
2021 | 66 |
2020 | 22 |
2019 | 42 |
2018 | 30 |
2017 | 26 |
IPOs in SaaS in India
In the year 2026, till June 2026, 4 IPOs happened in SaaS sector in India.
Here are some recent, important IPOs in SaaS sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jun 11, 2026 | Bombay Stock Exchange (BSE) | |
Mar 25, 2026 | Bombay Stock Exchange (BSE) | |
Feb 24, 2026 | Bombay Stock Exchange (BSE) | |
Jan 21, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Nov 26, 2025 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) |
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Colleges which produce the most SaaS companies in India
Companies founded by alumni from top colleges in the SaaS in India
Most number of SaaS startups in India have been founded by alumni from BITS Pilani, IIT Bombay and IIT Delhi.
College | No. of companies |
|---|---|
BITS Pilani | 355 |
IIT Bombay | 324 |
IIT Delhi | 319 |
IIT Kharagpur | 244 |
IIT Kanpur | 202 |
IIT Madras | 177 |
IIM Bangalore | 159 |
IIM Ahmedabad | 158 |
Indian School of Business | 151 |
IIT Roorkee | 143 |
Total funding in SaaS companies founded by alumni from top colleges in India
In the last 10 years, IIT Bombay graduates' SaaS companies in India have raised the most funding among top colleges. IIT Kharagpur alumni are second, and IIM Ahmedabad alumni are third.
College | Total Funding |
|---|---|
IIT Bombay | $3.69B |
IIT Kharagpur | $3.35B |
IIM Ahmedabad | $3.02B |
IIT Delhi | $2.25B |
BITS Pilani | $2.13B |
IIT Roorkee | $1.7B |
Carnegie Mellon University | $1.65B |
IIT Madras | $1.48B |
Indian School of Business | $1.44B |
Wharton School | $1.15B |
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