At $4.5 billion, investment in SaaS companies grows 170% in 2021

India now has 13 SaaS unicorns and between 7 and 9 companies with $100 mn+ annual recurring revenue (ARR)

The Indian Software as a Service (SaaS) landscape continues to mature rapidly, with companies driving heightened investor interest. This spans both early-stage companies, with an 85% increase in average value of seed rounds over 2019, and later-stage ones, with a 20 percentage point increase in share of Series D+ funding rounds over 2019. Key findings from Indian SaaS Report 2021 by Bain & Company.

SaaS is driving value creation in 4 ways:

• 100% growth in exits, from 6 in 2018 to 12 in 2021
• Strong ARR-to-funding ratio in line with global SaaS peers
• Creation of a strong talent pool 
• New firms founded by ex-employees of Indian SaaS companies