The document summarizes the results of the 2016 India SaaS Survey conducted jointly by Signal Hill and iSPIRT. Some key findings:
- The survey received responses from 76 SaaS companies in India, up from 39 last year.
- NCR has emerged as a new hotspot for SaaS companies, moving up to the second most popular region.
- Most respondents are vertically focused SaaS players and have achieved meaningful scale focusing on customers in India in addition to the US.
- Median ARR of respondents is $0.75Mn with a median employee count of 35, indicating many early-stage companies participated.
The third edition of the India SaaS Survey by DCS Advisory, India’s largest software investment banking advisory practice, in partnership with iSPIRT Foundation.
The survey aims to anonymously benchmark Indian SaaS companies to better understand the unique challenges they face and the unique advantages they leverage, creating a single reference point updated annually.
Google Accel Report - SaaS India, Global SMB Market, $50B in 2025 #SaaSinIndi...Accel Partners India
#SaaSinIndia
A joint report released by Google & Accel Partners outlined the growth opportunity for Indian SaaS Startups as SaaS adoption by SMBs is set to overtake that by large enterprises. The report outlines that purpose built SaaS products will see hyper growth and adoption by SMBs, and will contribute to more than 75% of the public cloud revenues driving the global SaaS industry to $ 132B revenues by 2020, of which SMB SaaS is expected to reach $76B.
India Technology Product M&A Industry Monitor - An iSPIRT & SignalHill reportProductNation/iSPIRT
India Technology Product M&A Industry Monitor - An iSPIRT & SignalHill report. Tech Product M&A in India is on the rise with both US & Asian strategics starting to dip their toes in the water. On account of the increasing pace of innovations and scale of the Indian Product Tech eco-system,
iSPIRT Product Industry Monitor(PIM) Feb 2014 - a first-of-its-kind report an...ProductNation/iSPIRT
India has the potential to build a USD 100 bn software product industry by 2025 with resolute and purposeful action by industry and government.
• Over 50% of software product companies are completely self-funded or ‘bootstrapped’.
• Lot of senior talent from MNCs is starting software product companies – close to 40% of founders come from an MNC.
• Indian software product startups are experiencing ‘talent starvation’ at the entry level.
• 78% of Indian software product startups defy the universal logic of having founders with diverse skills, and instead have homogenous founding partners.
• The three most common product sectors that companies work in are Enterprise, SaaS and Consumer.
India as a Product Nation - The Next Google can come from India Avinash Raghava
This presentation talks about the Important Characteristics of the Software Product Industry, Why India needs The Software Products Industry. Indian Software Product Industry touches 3m small enterprises today. It will touch 30m enterprises – small businesses, rural schools, primary healthcare centers, small farms, etc. - in 10 years
The third edition of the India SaaS Survey by DCS Advisory, India’s largest software investment banking advisory practice, in partnership with iSPIRT Foundation.
The survey aims to anonymously benchmark Indian SaaS companies to better understand the unique challenges they face and the unique advantages they leverage, creating a single reference point updated annually.
Google Accel Report - SaaS India, Global SMB Market, $50B in 2025 #SaaSinIndi...Accel Partners India
#SaaSinIndia
A joint report released by Google & Accel Partners outlined the growth opportunity for Indian SaaS Startups as SaaS adoption by SMBs is set to overtake that by large enterprises. The report outlines that purpose built SaaS products will see hyper growth and adoption by SMBs, and will contribute to more than 75% of the public cloud revenues driving the global SaaS industry to $ 132B revenues by 2020, of which SMB SaaS is expected to reach $76B.
India Technology Product M&A Industry Monitor - An iSPIRT & SignalHill reportProductNation/iSPIRT
India Technology Product M&A Industry Monitor - An iSPIRT & SignalHill report. Tech Product M&A in India is on the rise with both US & Asian strategics starting to dip their toes in the water. On account of the increasing pace of innovations and scale of the Indian Product Tech eco-system,
iSPIRT Product Industry Monitor(PIM) Feb 2014 - a first-of-its-kind report an...ProductNation/iSPIRT
India has the potential to build a USD 100 bn software product industry by 2025 with resolute and purposeful action by industry and government.
• Over 50% of software product companies are completely self-funded or ‘bootstrapped’.
• Lot of senior talent from MNCs is starting software product companies – close to 40% of founders come from an MNC.
• Indian software product startups are experiencing ‘talent starvation’ at the entry level.
• 78% of Indian software product startups defy the universal logic of having founders with diverse skills, and instead have homogenous founding partners.
• The three most common product sectors that companies work in are Enterprise, SaaS and Consumer.
India as a Product Nation - The Next Google can come from India Avinash Raghava
This presentation talks about the Important Characteristics of the Software Product Industry, Why India needs The Software Products Industry. Indian Software Product Industry touches 3m small enterprises today. It will touch 30m enterprises – small businesses, rural schools, primary healthcare centers, small farms, etc. - in 10 years
StartupBridge India is an annual conference held in December at Stanford where top technology innovators from India and Silicon Valley build strategic partnerships to innovate for the world.
Indian Unicorns will continue to strengthen through acquisitions in Mobile, M...ProductNation/iSPIRT
With Mergers and Acquisitions (M&A) totaling $2.27bn since Jan 2011, technology majors as well as large Indian ‘Unicorns’ are likely to continue acquiring Indian Technology product startups to fill technology gaps as well as talent requirements. This was among the key trends to emerge from the Think Next Roundtable Report - 2015 India technology Product M&A Industry Monitor Report released by iSPIRT, India’s software products think tank, technology focused M&A advisory boutique Signal Hill and Microsoft Ventures.
India's best product thinkers on what a thriving product ecosystem can do for...ProductNation/iSPIRT
On the first anniversary of iSPIRT, we got the best product thinkers in the country pledging to transform India into a product nation and to help in every way they can to get it there.
Malaysian corporates could become irrelevant in the blink of an eye if they do not react quickly to changes in the digital economy.
Find out how Malaysia can be a nation of disruptors instead of disrupted.
Global SaaS and Web Services Trends - H1 2107Arpit Jaiswal
With every query typed into a search bar, we are
given a glimpse into user considerations or
intentions. By compiling top searches, we are able to
render a strong representation of the global
audience and gain insight into its behavior.
In our Global SaaS & Web Services Trends Report,
we are excited to bring forth the power of data into
the hands of the marketers, product developers,
entrepreneurs, investors, and end-consumers of
software. The goal of this report is to share useful
data for planning purposes accompanied by curated
features of what we believe can make for impactful
trends.
We are proud to share this iteration and look forward
to hearing back from you.
InTech50 Finalists pitching their products to global CIOs in Bangalore on 15t...ProductNation/iSPIRT
InTech50 is a showcase of some of the most promising software products created by entrepreneurs from India. A panel of Chief Information Officers (CIOs), Venture Capitalists, and Product Leaders from previous successes will decide the fifty companies that make the cut to InTech50 selection criteria. These chosen companies will receive advice, on-going mentoring, product marketing support, and funding to scale their offering to the global markets.
In this very brief time we have managed to become the voice of the India product software industry, connected with key members of the government, started building out a global M&A initiative, launched a Software Adoption Initiative and conducted series of round-tables that have been focussed on bringing key learning opportunities.
So far the activities of iSPIRT have been driven by it's Founder Circle with active volunteer support from several other people. Given our ambitous agenda for the year's ahead and with a view to include more Indian product software companies into the iSPIRT fold, we have decided to create a 50 strong "Product Circle" by invitation.
Riding the Storm Towards the Giant India SaaS OpportunitySaaSBOOMi
Riding the Storm – Towards the Giant India SaaS Opportunity” underlines the opportunity and whitespaces for the growing Indian SaaS industry. For the first time ever, key stakeholders in the Indian SaaS ecosystem have collaborated to create this research study. The report also highlights how India can become the global hub for SaaS and can tap the huge addressable opportunity by strengthening its ecosystem.
Artificial intelligence: Driving future growth in Singapore- AccentureAccenture ASEAN
Businesses that successfully apply artificial intelligence (AI) could create up to US$215 billion in gross value added (GVA) in Singapore by 2035. Business services, financial services, and manufacturing look set to benefit the most out of the 11 industries studied in Singapore.
To capitalise on the opportunity, the report Artificial Intelligence: Driving Future Growth in Singapore identifies eight key strategies for successfully implementing AI that focus on adopting a human-centric approach and taking bold and responsible steps to applying the technology within businesses and organisations.
Malaysia’s Digital Performance Index: Faster Than Ever Accenture ASEAN
Accenture conducted an evaluation of top Malaysian public listed companies across nine industries, using a well-established tool called Accenture’s Digital Performance Index (DPI) that has already been deployed across 42 countries in the world
With the findings, Accenture has identified areas for urgent acceleration and outlined five key imperatives that will put the country on track to digital success. To realise its digital dreams, Malaysia must move quickly and decisively to accelerate both digital adoption and transformation.
Demystifying the "myth" behind Venture Capital Firms
1. Where the money came from
2. Understanding VC's business model
3. What startups need to know before they're pitching to VCs
BootstrapLabs - Tracxn Report - artificial intelligence for the Applied Arti...BootstrapLabs
This report covers companies that provide the infrastructure for creating Artificial Intelligence. These Infrastructure companies include those working on Machine Learning, Deep Learning based platforms, libraries. Some of theses companies also provide platforms for Natural Language Processing and Visual Recognition. In the Applications section, the report covers companies leveraging AI techniques to build applications tailored for end use in Enterprise, Industry & Consumer sectors.
Over $1B has been invested in AI-Infrastructure startups since 2010 with ¬$340M being invested in 2015. Over $7.5B has been invested in AI-Applications startups since 2010 with $2.3B being invested in 2015.
Everyone is talking about Artificial Intelligence — the new normal, which has entered almost every work process across industries. Enterprises are rethinking and strengthening their AI capabilities, using it as a tool to improve products and services. With AI becoming crucial to enterprise success, upskilling has become the new mantra among Indian IT professionals, who are keen to make an impact in their careers with Machine Learning and AI.
In our annual AI Study with Great Learning, we take a look at key AI trends dominating the Indian AI market-leading companies, professionals, salaries, jobs broken down by cities and how AI’s potential for industry growth has risen over the last few years. In the second half of the study, we cover AI literacy in India through Great Learning’s comprehensive AI/ML programs that are bridging the current skill gap and consequently boosting workforce transitions.
We held a somewhat impromptu Open Session on Balloon Volunteering yesterday. Watch this to learn if iSPIRT volunteering is right for you. This session will cover some of the available volunteer opportunities and tell you how to engage with us.
In case you want to explore Balloon Volunteering with iSPIRT, do fill out the form here: bit.ly/iSPIRTForm
India SaaS Survey Results 2017 in partnership with DCS Advisory ProductNation/iSPIRT
Welcome to the Third edition of the India SaaS Survey by DCS Advisory, India’s largest software investment banking advisory practice, in partnership with iSPIRT
The SaaS market is moving rapidly, to the point that we're noticing a hard transition from the first wave of SaaS, which focused on function, infrastructure, etc, to the second wave of SaaS, which is squarely focused on the customer. In this opening presentation at Price Intelligently's SaaSFest 2016, Patrick Campbell walks through the data in the market that's showing we're in a world of transition where we'll need to heed data to properly evolve.
StartupBridge India is an annual conference held in December at Stanford where top technology innovators from India and Silicon Valley build strategic partnerships to innovate for the world.
Indian Unicorns will continue to strengthen through acquisitions in Mobile, M...ProductNation/iSPIRT
With Mergers and Acquisitions (M&A) totaling $2.27bn since Jan 2011, technology majors as well as large Indian ‘Unicorns’ are likely to continue acquiring Indian Technology product startups to fill technology gaps as well as talent requirements. This was among the key trends to emerge from the Think Next Roundtable Report - 2015 India technology Product M&A Industry Monitor Report released by iSPIRT, India’s software products think tank, technology focused M&A advisory boutique Signal Hill and Microsoft Ventures.
India's best product thinkers on what a thriving product ecosystem can do for...ProductNation/iSPIRT
On the first anniversary of iSPIRT, we got the best product thinkers in the country pledging to transform India into a product nation and to help in every way they can to get it there.
Malaysian corporates could become irrelevant in the blink of an eye if they do not react quickly to changes in the digital economy.
Find out how Malaysia can be a nation of disruptors instead of disrupted.
Global SaaS and Web Services Trends - H1 2107Arpit Jaiswal
With every query typed into a search bar, we are
given a glimpse into user considerations or
intentions. By compiling top searches, we are able to
render a strong representation of the global
audience and gain insight into its behavior.
In our Global SaaS & Web Services Trends Report,
we are excited to bring forth the power of data into
the hands of the marketers, product developers,
entrepreneurs, investors, and end-consumers of
software. The goal of this report is to share useful
data for planning purposes accompanied by curated
features of what we believe can make for impactful
trends.
We are proud to share this iteration and look forward
to hearing back from you.
InTech50 Finalists pitching their products to global CIOs in Bangalore on 15t...ProductNation/iSPIRT
InTech50 is a showcase of some of the most promising software products created by entrepreneurs from India. A panel of Chief Information Officers (CIOs), Venture Capitalists, and Product Leaders from previous successes will decide the fifty companies that make the cut to InTech50 selection criteria. These chosen companies will receive advice, on-going mentoring, product marketing support, and funding to scale their offering to the global markets.
In this very brief time we have managed to become the voice of the India product software industry, connected with key members of the government, started building out a global M&A initiative, launched a Software Adoption Initiative and conducted series of round-tables that have been focussed on bringing key learning opportunities.
So far the activities of iSPIRT have been driven by it's Founder Circle with active volunteer support from several other people. Given our ambitous agenda for the year's ahead and with a view to include more Indian product software companies into the iSPIRT fold, we have decided to create a 50 strong "Product Circle" by invitation.
Riding the Storm Towards the Giant India SaaS OpportunitySaaSBOOMi
Riding the Storm – Towards the Giant India SaaS Opportunity” underlines the opportunity and whitespaces for the growing Indian SaaS industry. For the first time ever, key stakeholders in the Indian SaaS ecosystem have collaborated to create this research study. The report also highlights how India can become the global hub for SaaS and can tap the huge addressable opportunity by strengthening its ecosystem.
Artificial intelligence: Driving future growth in Singapore- AccentureAccenture ASEAN
Businesses that successfully apply artificial intelligence (AI) could create up to US$215 billion in gross value added (GVA) in Singapore by 2035. Business services, financial services, and manufacturing look set to benefit the most out of the 11 industries studied in Singapore.
To capitalise on the opportunity, the report Artificial Intelligence: Driving Future Growth in Singapore identifies eight key strategies for successfully implementing AI that focus on adopting a human-centric approach and taking bold and responsible steps to applying the technology within businesses and organisations.
Malaysia’s Digital Performance Index: Faster Than Ever Accenture ASEAN
Accenture conducted an evaluation of top Malaysian public listed companies across nine industries, using a well-established tool called Accenture’s Digital Performance Index (DPI) that has already been deployed across 42 countries in the world
With the findings, Accenture has identified areas for urgent acceleration and outlined five key imperatives that will put the country on track to digital success. To realise its digital dreams, Malaysia must move quickly and decisively to accelerate both digital adoption and transformation.
Demystifying the "myth" behind Venture Capital Firms
1. Where the money came from
2. Understanding VC's business model
3. What startups need to know before they're pitching to VCs
BootstrapLabs - Tracxn Report - artificial intelligence for the Applied Arti...BootstrapLabs
This report covers companies that provide the infrastructure for creating Artificial Intelligence. These Infrastructure companies include those working on Machine Learning, Deep Learning based platforms, libraries. Some of theses companies also provide platforms for Natural Language Processing and Visual Recognition. In the Applications section, the report covers companies leveraging AI techniques to build applications tailored for end use in Enterprise, Industry & Consumer sectors.
Over $1B has been invested in AI-Infrastructure startups since 2010 with ¬$340M being invested in 2015. Over $7.5B has been invested in AI-Applications startups since 2010 with $2.3B being invested in 2015.
Everyone is talking about Artificial Intelligence — the new normal, which has entered almost every work process across industries. Enterprises are rethinking and strengthening their AI capabilities, using it as a tool to improve products and services. With AI becoming crucial to enterprise success, upskilling has become the new mantra among Indian IT professionals, who are keen to make an impact in their careers with Machine Learning and AI.
In our annual AI Study with Great Learning, we take a look at key AI trends dominating the Indian AI market-leading companies, professionals, salaries, jobs broken down by cities and how AI’s potential for industry growth has risen over the last few years. In the second half of the study, we cover AI literacy in India through Great Learning’s comprehensive AI/ML programs that are bridging the current skill gap and consequently boosting workforce transitions.
We held a somewhat impromptu Open Session on Balloon Volunteering yesterday. Watch this to learn if iSPIRT volunteering is right for you. This session will cover some of the available volunteer opportunities and tell you how to engage with us.
In case you want to explore Balloon Volunteering with iSPIRT, do fill out the form here: bit.ly/iSPIRTForm
India SaaS Survey Results 2017 in partnership with DCS Advisory ProductNation/iSPIRT
Welcome to the Third edition of the India SaaS Survey by DCS Advisory, India’s largest software investment banking advisory practice, in partnership with iSPIRT
The SaaS market is moving rapidly, to the point that we're noticing a hard transition from the first wave of SaaS, which focused on function, infrastructure, etc, to the second wave of SaaS, which is squarely focused on the customer. In this opening presentation at Price Intelligently's SaaSFest 2016, Patrick Campbell walks through the data in the market that's showing we're in a world of transition where we'll need to heed data to properly evolve.
Analytics India Annual Salary Study aims to understand a wide range of current and emerging compensation trends in Analytics & Data science organisations across India. The idea is to provide a reference point on key aspects around analytics salaries in India and potential future HR trends. It brings a cumulative picture of salary trends across company type, skills, analytics tools, cities, experience level, education level etc.
The study details about analytics professionals across company types such as captive centres, domestic firms, IT service providers, consulting firm and others, spread across various Indian cities.
Gender gap is another crucial area covered as a part of this year’s salary study. The pay scale of women analytics professionals seems to be at a lower end compared to male counterparts, and the study presents you with exact numbers.
It has been carried out by Analytics India Magazine in association with Great Learning. All salaries mentioned in the study are in Lakhs (L), per annum, in Indian rupees (wherever not mentioned).
Analytics India Salary Study 2019 – by AIM & AnalytixLabsRicha Bhatia
Our annual Analytics India Salary Study presented by AIM and AnalytixLabs looks at the distribution of average salaries across years of experience, job category, region, industry, education, gender and tools and skills.
Lessons from 400+ SaaS companies, in a first of a kind survey focused in Brazil. We are happy to announce the results of the first edition of the Brazil SaaS Landscape Research. We surveyed 597 respondents in May 2017. 49% of respondents were SaaS CEOs and that’s the segment we focused our research on. The report is a joint initiative by SaaSholic, Rock Content, Signal Hill & Redpoint eVentures.
State of Customer Success in India (Aug 2018)Vipin Thomas
As Customer Success gains momentum in both tech and non-tech firms, this report compiles research on critical attributes of Customer Success in India. I believe this report will serve as a helpful resource for Customer Success professionals & Leadership in understanding:
- The Customer Success function, Maturity, Team Size, Compensation & Org structure
- Priorities, Challenges and Business Value
- Technology Stack for Enablement
- Key Performance Indicators (KPIs) to measure effectiveness
- The Future of Customer Success
During the 19th Annual Asian Shared Services & Outsourcing Week 2016, we asked our audience of 360 shared services professionals for their opinions and benchmarking metrics during live polling sessions.
These focused on attrition, data analytics, Robotic Process Automation (RPA) and invoice cycle time. The following are some highlights from the findings of these sessions.
For more information, please visit www.sharedintelligence.com.
Top reasons why the future is SaaS SubscriptionAndolasoft Inc
SaaS has bright future and it is grabbing the attention of both consumers and vendors. The subscription-based pricing model is more effective than the traditional. It is delivering true results to the end users with cost-effective price.
State of data_science_in_domestic_indian_market_2019_aim_sasSrishti Deoras
This year’s study done in collaboration with SAS dives into 50 large-sized firms to better understand analytics maturity and penetration in these organisations. Our in-depth study can also be seen as a deep dive benchmarking report to see how companies are winning with analytics.
SaaS Pricing: Supercharge revenue with a value-based pricing strategy by Patr...Freshsales
"Supercharge revenue with a value-based pricing strategy" by Patrick Campbell (CEO, Price Intelligently).
What you'll learn:
- The core principles that power the best pricing pages
- A framework for continually optimizing your pricing
- Easy changes that can boost your revenue
- The most common pricing mistakes
Rise of cross-border SaaS companies with Hasura, Acceldata and Lightspeedsaastr
Dev Khare, Partner @ Lightspeed
Rajoshi Ghosh, Co-founder & COO @ Hasura
Rohit Choudhary, CEO @ Acceldata
The panel will discuss the rise of cross border SaaS startups emerging from India and decode the structural reasons and best practices enabling this trend, together with founders of two fast-scaling startups originating in India and now based in the US: Acceldata & Hasura. Moderator Dev Khare, partner at Lightspeed India, focuses on investing in India->global startups.
Cloud innovation has been a global endeavor for more than two decades, transforming entire industries—now, India is an emerging global leader driving technological innovation and noteworthy entrepreneurship.
PM WANI 3.0: Unleashing Business Innovation and Open Wireless Network Growth ...ProductNation/iSPIRT
PM-WANI has allowed sachetised access to WiFi connectivity. However, the true vision of WANI standard, where small business owners can participate as network service providers resulting in fast network growth, has not been realised. We propose the next version of the WANI standard where a more open ecosystem can be enabled to facilitate business interactions such as delegated payments and roaming, which in turn can catalyse increased user base, rapid network growth, and business innovations.
The PM-WANI framework is revised periodically, taking into account the new developments, security updates, etc. Version 1.0 was released in 2020 and this was used for the pilot deployments. The updated 2.0 specification was released in 2021 and is the current version in use. You could read more about these versions here: https://github.com/iSPIRT/PM-WANI-App-Provider/wiki/PM-WANI-Specification-1.0-vs-2.0
This whitepaper defines iSPIRT’s vision for the PM-WANI Version 3.0 specification
WANI 3.0: Unleashing Business Innovation and Open Wireless Network Growth for...ProductNation/iSPIRT
PM-WANI has allowed sachetised access to WiFi connectivity. However, the true vision of WANI standard, where small business owners can participate as network service providers resulting in fast network growth, has not been realised. We propose the next version of the WANI standard where a more open ecosystem can be enabled to facilitate business interactions such as delegated payments and roaming, which in turn can catalyse increased user base, rapid network growth, and business innovations.
The PM-WANI framework is revised periodically, taking into account the new developments, security updates, etc. Version 1.0 was released in 2020 and this was used for the pilot deployments. The updated 2.0 specification was released in 2021 and is the current version in use. You could read more about these versions here: https://github.com/iSPIRT/PM-WANI-App-Provider/wiki/PM-WANI-Specification-1.0-vs-2.0
This whitepaper defines iSPIRT’s vision for the PM-WANI Version 3.0 specification
WANI 3.0: Unleashing Business Innovation and Open Wireless Network Growth for...ProductNation/iSPIRT
PM-WANI has allowed sachetised access to WiFi connectivity. However, the true vision of WANI standard, where small business owners can participate as network service providers resulting in fast network growth, has not been realised.
iSPIRT Foundation proposes the next version of the WANI standard where a more open ecosystem can be enabled to facilitate business interactions such as delegated payments and roaming, which in turn can catalyse increased user base, rapid network growth, and business innovations.
Civil aviation has, traditionally, been based on the notion of a pilot operating the aircraft from within the aircraft itself and more often than not with passengers on board. Rapid technological innovations have enabled pilotless aircraft which can be designed for specific applications that require precision or long duration which have been considered near impossible hitherto.
These aircraft also enable applications considered dull, dirty or dangerous, in other words, tasks that entail monotony or hazard for the pilot of a manned aircraft. Such pilotless aircraft make use of a ground-based or pre-programmed automatic controllers to manoeuvre the aircraft in flight and are generally termed as drones, although a better term is Unmanned Aerial Systems (UAS).
Traditionally, drones had been limited to military use due to high costs and technical sophistication. However, there is a far broader scope for UAS use, including, inter alia, commercial, scientific and security applications. These potential applications have driven innovations in UAS technology; especially in areas of control, navigation and energy storage; which have provided consumers with suitably small-sized cutting-edge products that are easy to operate and maintain at affordable prices. Today, due to economies of scale, consumers can purchase drones for less than a thousand rupees. Even sophisticated drones with advanced cameras and sensors are available for under fifty thousand rupees. Large aircraft manufacturers such as Boeing and Airbus, on the other hand, are investing billions of dollars in building pilotless aircraft that are regarded safe enough for passenger long-distance intercontinental trips.
The main goal of building a Concept of Operations for India on the way to a thriving drone ecosystem in India was to allow consistent policymaking that would guide technological standards in the near future. We intend to establish a discussion with stakeholders and continue to improve our vision by holding Open House Sessions.
Guiding Principles, Specs, Key Resources: https://sayandeep-ai.github.io/pushpaka/work-items/i01/
Entire Playlist of the Open House Recordings: https://youtube.com/playlist?list=PL9dBcOUIsjz8FNN_FesZiD2WlFAQW-I01
This is our response to the Draft Drone Rules 2021 published by the Ministry of Civil Aviation on 14 July 2021.
(Draft Drone Rules 2021: https://www.civilaviation.gov.in/sites/default/files/Draft_Drones_Rules_14_Jul_2021.pdf)
iSPIRT Balloon Volunteering Open House Session #4 - Opportunities in Technolo...ProductNation/iSPIRT
In this fourth Open House Session, we have Dr Pramod Varma, Chief Architect - Aadhaar & India Stack, giving you an insight into what it takes to volunteer in iSPIRT. He describes our design principles for building digital public infrastructure and gives you a peek into the thought process of an architect in iSPIRT. Finally, he breaks down how we are redefining the approach towards solving societal problems. We are playground builders. We orchestrate or create a playground so that market players can bring out an array of solutions.
iSPIRT is addressing solvability. We have a multi-decade horizon as a mission-oriented volunteer-based Think-and-Do-Tank.
As part of this session, we have our volunteers explaining the technical challenges you can embrace as new volunteers. The problems that we are tackling require a thought process that is new and innovative. We use cutting-edge technology.
In addition to the new technical volunteering opportunities outlined in this session, other policy-related and ecosystem-building volunteer options also exist. Apply now on https://volunteers.ispirt.in
Do visit: https://youtu.be/KZngoIy-hZ0 to watch the recording of the fourth open house session on Youtube.
The Global Leadership Seminar is back with its second seminar on "Full Spectrum Thinking" with noted futurist Bob Johansen of The Institute for the Future.
In this video, Bob explains how Full-Spectrum Thinking provides leaders with the ability to seek clarity across gradients of possibility—while resisting the temptations of certainty. For example, medical doctors used to label people as “autistic.” Now, they say people are on the spectrum of autism disorders.
Full-spectrum thinking offers an alternative to sloppy categorical thinking that is so common today. It unlocks clarity while challenging certainty.
Bob Johansen is a distinguished fellow with the Institute for the Future in Silicon Valley. For more than 30 years, Bob has helped organizations around the world prepare for and shape the future, including corporations such as Nestle and GlaxoSmithKline, as well as major universities and nonprofits. He holds a B.S. from the University of Illinois, which he attended on a basketball scholarship, and a PhD from Northwestern University—as well as a master’s degree that focused on world religions.
The seminar was moderated by Prof. Vasanthi Srinivasan of IIM Bangalore. Prof. Srinivasan is a Professor in the Organizational Behaviour and HRM at IIMB. Her work over the last decade in the field of leadership development has focussed on building future-ready competencies.
Charles Assissi, veteran journalist, and co-founder of Founding Fuel, also joined to share his perspectives on Full Spectrum Thinking.
Please note: The seminar was organized by iSPIRT Foundation in association with NSRCEL of IIM Bangalore. This seminar series aims to bring the best of management wisdom to Indian companies and startups.
Watch the entire recording of the session published on iSPIRT Foundation's official Youtube channel: https://www.youtube.com/watch?v=ydesUdu2CkA
For more information, please write to community@ispirt.in
We are publishing a draft of the technical standards of the Personal Health Records (PHR) component of the National Health Stack (NHS)!
As a refresher, these standards govern the consented sharing of health information between Health Information Providers (HIPs) - like hospitals, pathology labs, and clinics - and Health Information Users (HIUs) like pharmacies, medical consultants, doctors, and so on. The user’s consent to share their health data is issued via a new entity called a Health Data Consent Manager (HDCM).
The problem today is that the electronic health records listed in one app or ecosystem are not easily portable to other systems. There is no common standard that can be used to discover, share, and authenticate data between different networks or ecosystems. This means that the electronic medical records generated by users end up being confined to many different isolated silos, which can result in frustrating and complex experiences for patients wishing to manage data lying across different providers.
With the PHR system, a user is able to generate a longitudinal view of their health data across providers. The interoperability and security of the PHR architecture allows users to securely discover, share, and manage their health data in a safe, convenient, and universally acceptable manner. For instance, a user could use a HDCM to discover their account at one hospital or diagnostic lab, and then select certain electronic reports to share with a doctor from another hospital or clinic. The flow of data would be safe, and the user would have granular control over who can access their data and for how long. Here is a small demo of the PHR system in action.
The standards in the draft released today offers a high-level description of the architecture and flows that make this possible.
India recently kicked off the Data Empowerment architecture, a framework for consented data sharing across the financial sector. This allows Nandini (Persona) to share data on her business’ regular invoices or GST payments seamlessly and securely.
Any bank or NBFC can now offer a regular stream of small-ticket working capital loans based on her demonstrated ability to repay. This is in sharp contrast to the status quo, where banks typically offer only larger loans backed by collateral. Using cash flows rather than collateral as the basis for credit is known as Flow-Based lending. Because producing collateral is a roadblock for the poorest Indians, Flow-Based lending may be their only opportunity to access the credit they sorely need for growth.
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It is equally important not to limit our thinking to simply “protection” of data. We must also question how we can “empower” individuals, who will be data rich before they are economically rich, with better access to their own healthcare data such that they can become more engaged participants and managers of their health care.
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The Justice Srikrishna led committee of experts has released a White Paper articulating their provisional thoughts on the Data Protection Framework, and are seeking public comments on the subject. iSPIRT has submitted a formal response to the White Paper. You can also read the blog post lays out our current views regarding Data Protection here: http://pn.ispirt.in/india-in-a-digital-world/
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AI Pilot Review: The World’s First Virtual Assistant Marketing SuiteGoogle
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https://sumonreview.com/ai-pilot-review/
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✅More than 85 AI features are included in the AI pilot.
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✅You Can Use AI Pilot To Create your version of AI Pilot And Charge People For It…
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Key principles of platformless, including API-first, cloud-native middleware, platform engineering, and developer experience.
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The alleged breach affected Europol agencies CCSE, EC3, Europol Platform for Experts, Law Enforcement Forum, and SIRIUS. Infiltration of these entities can disrupt ongoing investigations and compromise sensitive intelligence shared among international law enforcement agencies.
However, this is neither the first nor the last activity of IntekBroker. We have compiled for you what happened in the last few days. To track such hacker activities on dark web sources like hacker forums, private Telegram channels, and other hidden platforms where cyber threats often originate, you can check SOCRadar’s Dark Web News.
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In software engineering, the right architecture is essential for robust, scalable platforms. Wix has undergone a pivotal shift from event sourcing to a CRUD-based model for its microservices. This talk will chart the course of this pivotal journey.
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For more Tendenci AMS events, check out www.tendenci.com/events
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Custom Software Development: Prosigns specializes in creating bespoke software solutions that cater to your unique business needs. Our team of experts works closely with you to understand your requirements and deliver tailor-made software that enhances efficiency and drives growth.
Web and Mobile App Development: From responsive websites to intuitive mobile applications, Prosigns develops cutting-edge solutions that engage users and deliver seamless experiences across devices.
AI & ML Solutions: Harnessing the power of Artificial Intelligence and Machine Learning, Prosigns provides smart solutions that automate processes, provide valuable insights, and drive informed decision-making.
Blockchain Integration: Prosigns offers comprehensive blockchain solutions, including development, integration, and consulting services, enabling businesses to leverage blockchain technology for enhanced security, transparency, and efficiency.
DevOps Services: Prosigns' DevOps services streamline development and operations processes, ensuring faster and more reliable software delivery through automation and continuous integration.
Microsoft Dynamics 365 Support: Prosigns provides comprehensive support and maintenance services for Microsoft Dynamics 365, ensuring your system is always up-to-date, secure, and running smoothly.
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Join us on a journey of innovation and growth. Let's partner for success with Prosigns.
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Quarkus has a vast extension ecosystem and is known for its subsonic and subatomic feature set. Some of these features are not as well known, and some extensions are less talked about, but that does not make them less interesting - quite the opposite.
Come join this talk to see some tips and tricks for using Quarkus and some of the lesser known features, extensions and development techniques.
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2. 2
Foreword
Welcome to the Second edition of the India SaaS Survey by Signal Hill, India’s largest software investment banking
advisory practice, together with our partners iSPIRT, the Indian Software Product Industry Round Table.
Applying the lessons learned from the first edition, we have changed the way we collect data and the way we present
our results, but with the same objective in mind: to tap into the pulse of a burgeoning ecosystem by providing credible
benchmarking data and insightful analyses.
This year, we are proud to report that we received responses from 76 respondents (iSPIRT estimates indicate that this
may represent 10% of the total SaaS ecosystem in India) up from 39 respondents last year including some of the most
prominent SaaS companies operating in India. We sincerely thank all participants for their time and effort in completing
this survey and look forward to ever increasing participation every edition going forward.
As before, we are committed to refreshing the survey results on an annual basis. As the India SaaS ecosystem continues
to grow, we fully expect to increase overall survey participation, as well as the insights and benchmarking data provided.
If you have any suggestions to improve the survey or questions that you would like to see covered, please do write to us
at indiasaassurvey@signalhill.in.
3. 3
Key Takeaways of India SaaS Survey 2016
2
4
Emergence of NCR as a new hotspot for SaaS companies in the Indian ecosystem. It has moved up three places
to come to the second position this year
1
3
Increased interest in vertical focussed SaaS players with majority of respondents being vertical focussed this
year; Vertical focussed SaaS players occupy majority share of the scaled and funded respondent pie
Enterprise focussed clients have reported higher median growth rates compared to SMB/SME focussed players.
That said, SMB/SME focussed players forecast better growth in the coming one year
Though inside sales is by far the most preferred and effective sales channel, post the $1Mn ARR mark
respondents do report an increased usage of feet on street (which is still #2 after inside sales)
7 The median CAC payback period (for >$1Mn ARR) is 6-12 months
5 ‘Try and Buy’ is the most preferred sales model (vs. sales channel) amongst respondents
6 Horizontal and Vertical SaaS players report similar median growth rates, however companies that focus on the
US as their primary market (as against India or Asia) reported distinctively higher median growth rates
6. 6
2016 India SaaS Survey
• This report provides an analysis of the results of the survey of private SaaS companies in India which Signal Hill India’s
team in co-operation with iSPIRT conducted in Sept-Nov 2016
- This report is the result of the second annual SaaS survey conducted by Signal Hill & iSPIRT
- The survey results include responses from senior executives of 76 SaaS companies in India
• Representative statistics on the survey participants
‐ $0.5Mn-$1Mn Median ARR1 as of survey date, with 35 respondents having an ARR greater than $1Mn
‐ Median employee strength: 35
‐ Median customer count: ~100; 28% with more than 1000 customers
‐ 51% of the companies were started in the last 5 years
‐ 67% of the companies started out as SaaS players
1 ARR – SaaS portion of ARR as reported by respondents during the survey period Sept’16-Nov’16. The same metric has been used throughout the report
7. 7
Where Are Survey Participants Headquartered?
NCR has jumped up the list to 2nd position (25% of the India based players) versus the 4th position (9%) last
year
India Headquarters Distribution
1
* ROI - Rest Of India;
A point not brought out by
our sample: between Zoho
and FreshDesk alone iSPIRT
estimates ~$400Mn in
revenue, >$100Mn in funding
and 4,000+ employees in
Chennai. This creates a
massive ecosystem for many
other SaaS startups to be
created
Chennai: India’s SaaS Hub
32%
25%
19%
15%
5%
4%
Bangalore
NCR
Mumbai/Pune
Chennai
Hyderabad
ROI
8. 8
Which City Has The Most Scaled (ARR >$1Mn) SaaS Players?
Reinforcing NCRs position, based on our sample, it now hosts more “scaled” SaaS start ups than any other city - or
has significantly higher survey fill rates…
1
1SaaS portion of ARR
2Considered a subset of 35 respondents meeting the criteria of >1Mn ARR for the this analysis
Geographic Distribution of Respondents HQ (ARR1>$1Mn)2
Headquarter City
NoofRespondents
ARR Key
5
3
2
3
1
3
4
1
1
2
2
2
1
1
1
2
1
0
2
4
6
8
10
12
NCR Bangalore Chennai Mumbai/Pune Hyderabad
>$10.0 Mn
$5.0 Mn -$10.0 Mn
$2.5 Mn -$5.0 Mn
$1.0 Mn -$2.5 Mn
9. 9
What Is The Distribution Of ARR Across Our Sample?
The relatively young Indian SaaS ecosystem has a median ARR of $0.75Mn2 compared to a median of ~$5Mn3 in
the US SaaS ecosystem
1
1ARR reported by respondents during the months of September, October and November. ARR for SaaS portion of business
2The middle value of the median ARR range has been taken
3Median Revenue for FY15 per Pacific Crest Private SaaS Company Survey Results 2016
Distribution Of ARR1
Median Range
11
6
4
6 6 5
2
11
6
3
8
3
2
3
0
5
10
15
20
25
<=$0.25
Mn
$0.25 Mn
-$0.5 Mn
$0.5 Mn -
$1.0 Mn
$1.0 Mn -
$2.5 Mn
$2.5 Mn -
$5.0 Mn
$5.0 Mn -
$10.0 Mn
>$10.0
Mn
Horizontal Focussed
Vertical Focusssed
Journey to $1Mn ARR
It typically takes a
median of 2-4 years to
reach $1Mn ARR
10. 10
0
2
4
6
8
10
12
14
16
18
20
<10 10-20 20-30 30-40 40-50 50-75 75-100 100-150150-250250-500 >500
What Is The Employee Strength Across Our Sample?
Our sample shows a median employee strength of 35, likely reflecting higher survey participation rates
amongst <$1Mn ARR SaaS startups
1
1Taking a subset of 35 respondents
Employee Strength
Median (35)
Average number of employees
NoofRespondents
Journey to $1Mn ARR
Companies with an ARR
>$1Mn1 have a median
employee strength of
100. We would
reasonably expect a
$1Mn ARR company to
have ~50 employees
11. 11
When Was Your Company Launched?
With just 9 respondents founded in the last two years, our survey is weighted towards companies started pre-2015.
Younger companies may be busy figuring out their business and product...
1
Company Launch Date
NoofRespondents
Respondent Founding Year
6
11
9
13
8
5
4
0
2
4
6
8
10
12
14
16
18
20
Before
2010
2010 2011 2012 2013 2014 2015 2016
20
12. 12
When Did Respondents Pivot? 1
Pure SaaS Players vs Partial SaaS Players1 Pivot To SaaS
26%
74%
Partial SaaS
Pure SaaS
1Pure SaaS players are respondents with SaaS products contributing >60% ARR as of survey date
2Please note that there is a possibility of survivorship bias
From 2011 onward the Indian product ecosystem appears to have embrace the SaaS model with ~90% of
respondents starting out as SaaS businesses rather than pivoting2
Company Launch Date
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2003 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Started out as
a SaaS
business
Pivoted Later
13. 13
Key Takeaways From Respondent Profiling
1
2
3
Boasting ten $1Mn+ ARR respondents (out of a total of 35 $1Mn+ ARR respondents), our
sample shows that the NCR region is bubbling with activity
The Indian SaaS ecosystem is dominated by young companies with a median ARR of ~$0.75Mn
and median employee strength of ~35
While SaaS pivots are a feature of the Indian product ecosystem, the SaaS business model
appears to have gained prominence from 2011 with founders starting pure SaaS businesses,
rather than pivoting
15. 15
What Is India’s USP In Competing With Global SaaS Companies ? 2
Reported USP1
NumberofResponses
Unique Selling Proposition (USP)
1 Respondents were asked the following question - What do you see as India’s USP in competing with global SaaS companies?(respondents were given the option of choosing multiple criteria)
Our sample appears to be betting on low cost (but high quality) talent and low cost inside sales to build world class
SaaS businesses. Next year, it would be interesting to add ‘outright innovation’ to the list of USPs
62
48
25 23 21
15
4
0
10
20
30
40
50
60
70
Favourable
skill to cost
ratio
Cost effective
inside sales
Huge talent
pool
Products
more suited
for developing
markets
Mature
customer
service
capability
Mobile first
market &
skillsets
Other
These two buckets are
effectively the same
and emphasize that
our greatest strength
is skill to cost, whether
in sales or otherwise
16. 16
How Long Does It Take To Develop a SaaS Product? 2
Most respondents built their product (likely referring to the first commercially available version) within a 12 month
window
Time Taken To Build First SaaS Product
63%
30%
4% 3%
<=12 months
12-18 Months
18-24 Months
>24 Months
We attempted various
slices of this data set by
year of founding, </>
$1Mn ARR, vertical/
horizontal, etc. but
found that this metric
remained remarkably
consistent
17. 17
Vertical vs. Horizontal SaaS 2
Vertical vs. Horizontal Focus Vertical and Horizontal Split By Product Launch Date
This year 53% of our sample focused on vertical SaaS products vs. 37% last year. In particular, over the last 3
years vertical SaaS product launches have overtaken horizontal ones
Product Launch Date
NoOfRespondents
53%
47%
Vertical
Horizontal
1
2
3
5
4
2
10
7
6
1
5
4
3
6
7
6
4
0
2
4
6
8
10
12
14
16
18
2005 2006 2009 2010 2011 2012 2013 2014 2015 2016
Journey to $1Mn ARR
64% of $1Mn+ ARR
respondents are vertically
focused
18. 18
Which Is The Most Popular Vertical For A SaaS Product? 2
Vertical Focus Area1
While TMT focused SaaS dominated our sample this year we note that TMT itself could cover a diverse group
of distinct verticals
Vertical Sector
1 Includes a subset of 40 respondents
NoofRespondents
13
9
5
4
3
2 2
1 1
0
2
4
6
8
10
12
14
19. 19
Which Is The Most Popular Horizontal Focus Area? 2
Horizontal Focus Area1
The top three horizontal areas were broadly the same as in last year’s survey, showing that India continues to
favour ‘human focused’ SaaS vs. ‘machine focused’ SaaS
NoofRespondents
1 Includes a subset of 32 respondents
Horizontal Sector
7 7
6
4 4
2
1 1
0
1
2
3
4
5
6
7
8
20. 20
Which Geography Contributes The Maximum Revenue? 2
Unchanged from last year, the US is the most favoured destination for Indian SaaS startups. With that said, whilst
companies are building for global markets, the first market for companies to get traction in is typically India
Geography Contributing Maximum Revenue By Respondent Size1
1Subset of 76 respondents.
ARR Range
No. of Respondents:22 12 7 14 9 7 5
1
15 3
4
4 4
1
4
14
9
2
9
5
6
3 1
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<=$0.25
Mn
$0.25 Mn -
$0.5 Mn
$0.5 Mn -
$1.0 Mn
$1.0 Mn -
$2.5 Mn
$2.5 Mn -
$5.0 Mn
$5.0 Mn -
$10.0 Mn
>$10.0 Mn
5%
59%
33%
3%
Europe
India
North America
Rest of Asia
Geography Contributing Maximum Revenue
Key
Ordinarily, we
would expect
to see more US
prominence in
this bucket…
21. 21
Customer Focus, SMEs vs. Enterprises 2
Customer Type
68%
32%
SMB/SME (Small and
Medium Business)
Large Enterprises
Our sample is split 2/3rd in favour of SME focused SaaS; We were surprised however to see a lower than anticipated
median number of customers for SME focused players, likely due to a large number of small respondents…
100
50
0
20
40
60
80
100
120
SME/SMB Large Enterprises
Median Number Of Customers By Type
NoofCustomers
Customer Type
Key
22. 22
Key Takeaways From Business Focus Section
1
2
3
Unlike in 2015, the 2016 survey hints that the Indian SaaS ecosystem is increasingly focused
on vertical SaaS offerings
With regard to horizontal SaaS, we note a continued paucity of ‘machine focused’ SaaS in
favour of ‘human focused’ SaaS
While the US is still the largest market for Indian SaaS players (a point corroborated by our
experiences in the market) there are a number of respondents that have achieved meaningful
scale by focusing on customers in India
24. 24
5 5
11
5
6
3
5
11
9
4
0
2
4
6
8
10
12
10%-25% 25%-50% 50%-100% 100%-200% 200%-300%
How Fast Did/Will Respondents Grow Their ARR? (>$1Mn ARR only) 3
ARR Growth1
1Subset of 32 respondents
Median ARR Growth Rate
NoofRespondents
Median range for current and
future growth
If we consider only more ‘mature’ respondents with ARR >$1Mn the reported median historical & future growth
rates remain unchanged
25. 25
How Fast Did/Will Respondents Grow Their ARR? (<$1Mn ARR only) 3
ARR Growth1
1Subset of 29 respondents
Interesting to note that respondents in the <$1Mn bucket are growing more slowly than their scaled peers but are
bullish on the future based on projected growth rates
NoofRespondents
Median ARR Growth Rate
3
5
10
2
4
5
0
4
6
7
6 6
0
2
4
6
8
10
12
Current YoY Growth
Projected YoY Growth
Median Range for current growth
Median Range for projected growth
26. 26
0
1
2
3
4
<=$0.25 Mn $0.25 Mn -$0.5 Mn $0.5 Mn -$1.0 Mn $1.0 Mn -$2.5 Mn $2.5 Mn -$5.0 Mn $5.0 Mn -$10.0 Mn >$10.0 Mn
How Fast Is Our Sample Growing Its ARR? 3
$1Mn+ ARR respondents reported higher median growth rates when compared to sub $1Mn ARR respondents. Its
likely that the more nascent players still have to figure out their sales models
Historical Median ARR Growth
<10%
10-25%
25%-50%
50%-100%
100%-200%
ARR Range
MedianYoYARRGrowthRate
Median (>$1Mn ARR)
Median
(<$1MnARR)
No. of Respondents: 15 10 7 12 8 7 5
27. 27
What Is The Distribution Of Respondents Growth Rate By Size? 3
While the sub $5M growth split is similar, >$5M split seems very different, however it is hard to make a conclusion
based on the size of the subset
Profile Of ARR Growth By Respondent Size1
1Considering a subset of 35 respondents
ARR Range
Shareofrespondents
No. of Respondents: 14 9 7 5
YoY ARR Growth Range
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
$1.0 Mn -$2.5
Mn
$2.5 Mn -$5.0
Mn
$5.0 Mn -$10.0
Mn
>$10.0 Mn
100-300%
50%-100%
<50%
28. 28
Distribution Of Respondents’ Historical Growth Rate By Customer Focus 3
Regardless of scale, respondents focused on enterprise accounts reported faster growth than those focused on
SMEs, potentially reflecting the sales experience of the Indian SaaS ecosystem
Historical Growth Rate For >$1Mn ARR1 Historical Growth Rate For <$1Mn ARR2
1Subset Of 35 Respondents
2Subset Of 25 Respondents
0
1
2
3
4
5
Large Enterprises SMB/SME (Small and Medium
Business)
0
1
2
3
4
5
Large Enterprises SMB/SME (Small and Medium
Business)
<10%
10-25%
25%-50%
50%-100%
100%-200%
200%-300%
<10%
10-25%
25%-50%
50%-100%
100%-200%
200%-300%
Median
MedianYoYARRGrowthRate
MedianYoYARRGrowthRate
Median
100%
50%-100% 50%-100%
25%-50%
29. 29
Growth Expectations (Business Confidence) By Customer Focus 3
Projected vs Actual Growth Rate - SMB/SME Focus Projected vs Actual Growth Rate - Enterprise Focus
0
1
2
3
4
5
Historical YoY
ARR Growth Rate
Projected YoY
ARR Growth Rate
0
1
2
3
4
5
Historical YoY
ARR Growth Rate
Projected YoY
ARR Growth Rate
<10%
10-25%
25%-50%
50%-100%
100%-200%
<10%
10-25%
25%-50%
50%-100%
100%-200%
25%-50%
50%-100%
50%-100%
100%
MedianYoYARRGrowthRate
MedianYoYARRGrowthRateBy splitting historical & future growth expectations by customer focus we see that respondents focused on
SMB/SME appear to be more bullish on the future. Could SME SaaS be seeing a pick up?
30. 30
Where Do Respondents See Maximum Growth Potential? 3
~70% of respondents, regardless of size, look to the US and the Rest of Asia as their key geographies to sell into
Geography With Maximum Growth Potential
1Excluding respondents with an ARR of >$10Mn and <$1Mn
ARR Range
Geography Seen With Maximum Growth Potential By Respondent Size1
No. of Respondents: 14 9 7
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
$1.0 Mn -$2.5 Mn $2.5 Mn -$5.0 Mn $5.0 Mn -$10.0 Mn
45%
24%
21%
5%
5%
North America
Rest of Asia
India
Europe
Middle East and Africa
Key
31. 31
2
5
7 7
6 6
1
6
8
6
5 5
0
1
2
3
4
5
6
7
8
9
<10% 10%-25% 25%-50% 50%-100% 100%-200% 200%-300%
Vertical
Horizontal
Distribution Of Respondents Growth Rate By Horizontal vs. Vertical Focus 3
ARR Growth, Horizontal vs. Vertical1
Both vertical and horizontal SaaS respondents show comparable distributions in their growth rates, i.e., one
doesn’t grow any faster than the other
Median Range
1Subset Of 62 Respondents
NumberOfRespondents
YoY ARR Growth Rate
32. 32
Distribution Of Respondents Growth Rate By Geographic Focus 3
Median ARR Growth By Geography1
1Subset Of 58 Respondents. Considering only the geographies of India and NA as these are the only two significant geographies
2Subset of 4 companies
A good reason to focus on the US market: respondents focused on America have higher median growth rates; our
experience in the market corroborates this finding
0
1
2
3
4
5
India North America Other
<10%
10-25%
25%-50%
50%-100%
100%-200%
200%-300%
MedianYoYARRGrowthRate
Geography Generating Maximum Revenue
2
50%-100%
200%
50%-100%
33. 33
The Journey To $1Mn ARR 3
Time Taken To Reach $1Mn ARR1
1Subset of 34 respondents with ARR >$1Mn
The vast majority of respondents at $1Mn+ in ARR took several years to get there. In our experience, start-ups
that exceed 3-4 years to achieve a $1Mn+ in ARR are often questioned by investors
Median
NoOfRespondents
1
15
16
2
0
2
4
6
8
10
12
14
16
18
<1 year 1-2 years 2-4 years > 4 years
Journey to $1Mn ARR
Results show that the
journey to $1Mn ARR is
2-4 years
34. 34
Key Takeaways From Growth Rates Section
1
2
3
50-100% annual growth rates are the benchmark in India, hopefully reflecting a young &
healthy SaaS ecosystem
While respondents targeting enterprise customers reported higher growth rates, SME focused
respondents appear to be more bullish on their future prospects, projecting much higher
growth in the coming year than in the year gone by
Corroborated by our own experiences, the US is still the #1 market for the Indian SaaS
ecosystem to sell into and companies focusing on the US are growing faster than their peers
36. 36
What Is The Most Used Sales Channel1? 4
While a trend over time would be useful, it is evident that inside sales is presently the most used sales channel
across respondents of all sizes
Most Used Sales Channel2 : >$1Mn ARR Most Used Sales Channel3 : <$1Mn ARR
1The question posed was – “Which of the following sales channels have you deployed? “ and respondents were given the choice to choose multiple answers. Hence the data should be interpreted
as such
235 respondents; 341 respondents
42%
31%
27%
Inside Sales
Field Sales/Feet
on street
Channel
Partners
48%
25%
27%Key
37. 37
What Is The Most Productive Sales Channel1? 4
In addition to be being the most popular sales channel, inside sales proves to a be a very effective sales channel
irrespective of size of respondents
Most Productive Sales Channel : >$1Mn2 Most Productive Sales Channel : <$1Mn3
1The question posed was – “Which of the following sales channels have you found most productive? “
235 respondents
341 respondents
18
15
2
Inside Sales Field Sales/Feet on
street
Channel Partners
0
2
4
6
8
10
12
14
16
18
20
25
10
6
Inside Sales Field Sales/Feet on
street
Channel Partners
0
5
10
15
20
25
30 Journey to $1Mn ARR
Although inside sales is
#1, FoS seems to pick up
for our $1Mn+
respondents
NoOfRespondents
NoOfRespondents
Sales Channel Sales Channel
38. 38
30
22
7
2
0
5
10
15
20
25
30
35
<10% 10%-20% 20%-30% >30%
What Are The Sales Commissions For The Primary Sales Channel? 4
Sales Commissions As % Of Sales
Median Range
Reported sales commissions in the Indian ecosystem are higher than in the US (reported at 9%2)
Sales Commissions1
1As a percentage of Sales
2Per Pacific Crest Private SaaS Company Survey Results 2016
NoofRespondents
39. 39
0
1
2
3
4
5
<10% 10%-20% 20%-30% >30%
Do Sales Commissions Impact Growth Rates? 4
Median Growth Rate vs. Sales Commissions1
<10%
10-25%
25%-50%
50%-100%
100%-200%
200%-300%
Sales Commissions
1Subset of 50 respondents
Median Range
MedianYoYARRGrowthRate
23 21 7 2No of respondents:
Although respondents paying commissions of 10%-20% reported the highest median growth rate its hard to make
a determination about further increases in commissions due to the small sub-sample
40. 40
What Level Of Sales Commissions Do More Scaled Respondents Pay? 4
While no respondents at an ARR >$10Mn pays more than 10% in commissions, there doesn’t appear to be a
relationship between scale and commissions paid
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<=$0.25 Mn $0.25 Mn -$0.5
Mn
$0.5 Mn -$1.0
Mn
$1.0 Mn -$2.5
Mn
$2.5 Mn -$5.0
Mn
$5.0 Mn -$10.0
Mn
>$10.0 Mn
>30%
20%-30%
10%-20%
<10%
Sales Commissions vs. Size
SaaS ARR
Sales Commissions Range
No. of Respondents: 22 12 7 14 9 7 3
PercentageofRespondents
Increasing ARR
41. 41
Which Sales Model Have Respondents Tried At Least Once? 4
Sales Model Tried At Least Once
Sales Model
NoOfResponses
Most of our sample (78%) has tried more than one sales model but rarely stepping outside of the four most
common examples
• Sales Model refers to the
various approaches to
conversion of prospects
• Sales Channel refers to
the various mediums
being used to approach
prospects
58
50
36
18
2
0
10
20
30
40
50
60
70
Try and Buy
(subscription
with trial)
Enterprise Sales
(potentially with
a pilot)
Freemium
(Limited features
with add on
premium
features)
Revenue
share/Outcome
based
Other
42. 42
What Is The Primary Sales Model Across Respondents? 4
Nearly 50% of our sample leverage the ‘try and buy’ model to drive sales with no clear variation by scale
Which Is The Most Prevalent Primary Sales Model? What Sales Models Do Respondents Use, By SaaS ARR
No. of Respondents: 22 12 7 14 9 7
49%
38%
10%
3%
Try and Buy (subscription
with trial)
Enterprise Sales
(potentially with a pilot)
Freemium (Limited
features with add on
premium features)
Revenue share/Outcome
based
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<=$0.25
Mn
$0.25 Mn -
$0.5 Mn
$0.5 Mn -
$1.0 Mn
$1.0 Mn -
$2.5 Mn
$2.5 Mn -
$5.0 Mn
$5.0 Mn -
$10.0 Mn
>$10.0 Mn
5
43. 43
What Sales Models Do The High Growth Respondents Use? 4
Growth vs. Sales Model Used
In line with previous survey findings, higher growth rates and enterprise sales models appear correlated in our
respondent set
YoY ARR Growth Rate
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<10% 10%-25% 25%-50% 50%-100% 100%-200% 200%-300%
Enterprise Sales (potentially with
a pilot)
Revenue share/Outcome based
Freemium (Limited features with
add on premium features)
Try and Buy (subscription with
trial)
44. 44
How Do The Respondents Host Their SaaS Service? 4
3rd party hosting has grown vs. last year’s survey (83% vs. 68%). Similarly, while AWS continues to dominate, its
share too has grown (71% vs. 58%)
Hosting Preference Type Of Third Party Hosting Service
71%
29%
Amazon Web Services
Rest
83%
17%
Third Party
Self Managed
45. 45
10
20
8 8
12
6
12
0
5
10
15
20
25
<=2.5% 2.5%- 5.0% 5.0%- 7.5% 7.5%- 10.0% 10.0%-
12.5%
12.5%-
15.0%
>15.0%
What Are The Costs For Hosting? 4
Hosting Costs
NoOfRespondents
Hosting Costs As A Percentage Of Sales
Median Range(7.5%)
Median hosting cost appear to have fallen YoY from ~10% of sales in last years survey to 7.5% this year
46. 46
Key Takeaways From Sales And Delivery Section
1
2
3
Inside sales channels dominate our SaaS ecosystem, no surprise given their cost efficiency,
which is also something now well recognized in India
‘Try and buy’ seems to be the most popular sales model with no correlation with size
78% of respondents have tried more than one sales model. The dominant model, however, is
clearly ‘try and buy’ with enterprise sales coming in second
48. 48
What Is The Revenue/FTE Across The Respondents?
Despite a small sample size at higher ARRs, our sample shows that more scaled up respondents have cracked the
ability to drive revenues from their employee base
5
1Taking respondents having SaaS revenue contribution greater than 60% . Taking the Middle value for a particular ARR range since the data was collected in the manner of ranges
ARR/FTE Efficiency (ARR>$0.25Mn)1
ARR Range
0
10
20
30
40
50
60
70
80
90
$0.25 Mn -
$0.5 Mn
$0.5 Mn -
$1.0 Mn
$1.0 Mn -
$2.5 Mn
$2.5 Mn -
$5.0 Mn
$5.0 Mn -
$10.0 Mn
>$10.0 Mn
ARR/FTE(in$’000)
No. of Respondents: 9 6 12 7 4 3
Journey to $1Mn ARR
Post cracking the $1Mn
ARR mark our
respondents appear to
see significant gains in
productivity
49. 49
0
1
2
3
4
5
6
7
8
What Is The Typical CAC1 That The Respondents Incur? 5
Respondents with ARR >$1Mn incur higher median CAC perhaps due to higher mix of Enterprise Sales which has
longer lead times and involves FoS
CAC (<$1Mn ARR)2 CAC (>$1Mn ARR)3
0
1
2
3
4
5
6
7
8
9
10
1Customer Acquisition Cost
2Subset of 34 respondents
3Subset of 30 respondents
Median Range
Median Range
NoofRespondents
NoofRespondents
CAC CAC
50. 50
How Does The CAC To ARR Ratio Vary With Scale? 5
1This metric has been calculated utilizing the middle value of the CAC value ranges and the middle value of the ARR ranges collected
2CAC to ARR ratio is the Customer Acquisition Cost divided by the ARR per customer
CAC to ARR Ratio, by ARR (>$1Mn ARR)
38%
28%
25%
0%
5%
10%
15%
20%
25%
30%
35%
40%
$1.0 Mn -$2.5 Mn $2.5 Mn -$5.0 Mn $5.0 Mn -$10.0 Mn
ARR Range
MedianCACtoARRRatio2
Respondents in the $1Mn-$2.5Mn ARR bucket spend more to acquire a customer than their larger peers. This is
likely related to chasing growth with sales models that are yet to stabilize
No. of Respondents: 15 10 7
51. 51
In How Many Months Do The Respondents Typically Recover CAC? (>$1Mn ARR) 5
CAC Payback Period1
~2/3rd of our sample recover their CAC in <12 months, likely highlighting the low cost environment enjoyed by
Indian SaaS businesses; A surprising 14% of respondents, however, didn’t even track CAC recovery…
Median Range
1Subset of 35 respondents
17%
17%
29%
17%
6%
14%
<3 Months
3-6 Months
6-12 Months
12-18 Months
18-24 Months
Don't Track
52. 52
What Are The Main Drivers Of Cost? 5
Top Driver Of Cost Where Does The Top Driver Of Cost Lie?
1Per Pacific Crest Private SaaS Company Survey Results 2016
16%
84%
Above Gross Margin
Below Gross Margin
While the US counterparts have sales and marketing as the top driver1 of costs Indian firms seem to have R&D as
the top driver of cost, a finding unchanged from last year’s survey
4%
8%
56%
28%
4%
Other Direct Delivery
Staff
Product Support Cost
R&D/Product
Development
Sales & Marketing
Third Party
Software/licenses
53. 53
0
5
10
15
20
25
<40% 40%-50% 50%-60% 60%-70% 70%-80% 80%-90% >90%
How Profitable Are The Survey Respondents? (At GM level) 5
Gross Margin
The median gross margin range for our sample was 60-70% vs. 75-80%1 in the US market. A lower gross margin
despite a lower cost base suggests some level of competitive pricing by Indian players vs their US counterparts
Median Range
NoOfRespondents
1Per Pacific Crest Private SaaS Company Survey Results 2016
Gross Margin Range
54. 54
What Is The Profile Of The Gross Margin Generated By Respondents? 5
Neither vertical vs. horizontal focus nor customer types drives the gross margin of respondents as visible from the
graphs
Gross Margin By Vertical/ Horizontal Gross Margin By Customer Type?
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Vertical Player Horizontal Player
>90%
80%-90%
70%-80%
60%-70%
50%-60%
40%-50%
<40%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Enterprises SMB/SME (Small and Medium
Business)
>90%
80%-90%
70%-80%
60%-70%
50%-60%
40%-50%
<40%
55. 55
In How Many Years Do Respondents Project EBITDA Break Even (From project launch date)? 5
Time To Breaking Even2
~50% of respondents project taking 3-6 years to breakeven at the EBITDA level post launch of product
Median Range
1Breakeven for SaaS portion of business
2Subset of 51 respondents-excludes respondents who have already broken even for analysis
36%
50%
14%
<3 Years
3-6 Years
6-10 Years
56. 56
In How Many Years Do Respondents Project EBITDA Break Even, By ARR1? 5
Breaking Even By Size2
The reported, projected time to break even does not show a significant trend with ARR range.
Median Range
PercentageShare
ARR Range
1Breakeven for SaaS portion of business
2Subset of 71 respondents
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
<=$0.25
Mn
$0.25 Mn -
$0.5 Mn
$0.5 Mn -
$1.0 Mn
$1.0 Mn -
$2.5 Mn
$2.5 Mn -
$5.0 Mn
$5.0 Mn -
$10.0 Mn
>4 years
2-4 years
1-2 years
<1 year
Already broken even
57. 57
Key Takeaways From Profitability Section
1
2
3
ARR/ FTE improves with scale, highlighting operating leverage available in SaaS businesses
and focusing on cracking the Sales engine early in business’ lifecycle
Indian SaaS startups recover CAC quickly – likely taking advantage of the low cost Indian
ecosystem
Respondents estimate that it takes them 3-6 years to break even at EBITDA level post
launch of SaaS product
59. 59
What Is The Customer Lifetime Of The Respondents’ Customers? 6
Customer Lifetime In Months
We see spikes at the 12, 24 & 36 month marks, likely related to annual contracts
NoOfRespondents
No Of Months
Median Range
0
2
4
6
8
10
12
14
16
18
2 3 5 6 9 10 12 13 14 15 18 20 22 24 26 28 30 33 36 >36
60. 60
What Is The Revenue Retention Rate1 Of The Respondents? 6
Revenue Retention
Median Range
No Of Respondents
RevenueRetentionRate
>50% of respondents2 have a revenue retention rate higher than 100%
1Revenue Retention Rate is defined as the revenues produced from customers acquired in period 1 divided into the revenues produced by the same customers in the next period expressed as a
percentage
2Respondents who track their revenue retention rate
100%+NetRetentionNetChurn
(Upsellsgreater
thanchurn)
(Churngreater
thanupsells)
0 2 4 6 8 10 12 14
<80%
80%-90%
90%-100%
100%-110%
110%-120%
120%-130%
140%-150%
>150%
61. 61
What Is The Revenue Retention Rate1 By Customer Type? 6
Revenue Retention
Surprisingly, revenue retention is marginally better with SMB/SME customers even though enterprises typically
sign more long term contracts
1Revenue Retention Rate is defined as the revenues produced from customers acquired in period 1 divided into the revenues produced by the same customers in the next period expressed as a
percentage
Median Range: (90%-100%) ($100%-$110%)
PercentageShare
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Enterprises SMB/SME (Small and
Medium Business)
>130%
100%-130%
<100%
62. 62
Which Contract Lengths Enable Better Revenue Retention1 Rates? 6
Revenue Retention By Contract Length
Unsurprisingly, data shows that revenue retention is improving as we are moving towards respondents with longer
period contracts
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Monthly Quarterly Half yearly Yearly Multi-year
contracts
Perpetual
License
>130%
100%-130%
<100%
PercentageShare
1Revenue Retention Rate is defined as the revenues produced from customers acquired in period 1 divided into the revenues produced by the same customers in the next period expressed as a
percentage
63. 63
What Is The Customer Churn1 Of The Respondents (>$1Mn ARR)? 6
Customer Churn 2
Scaled respondents in the US ecosystem3 (>$2.5Mn ARR) display a median customer churn of ~10%
Median Range
1Churn = # of Customers that dropped by year end/ # Customers at the start of the year
2Subset of 35 respondents
3Per Pacific Crest Private SaaS Company Survey Results 2016
No Of Months
NoOfRespondents
7
4
6
4 4
7
0
1
2
3
4
5
6
7
8
<5% 5%-10% 10%-15% 15%-20% 20%-25% >25%
Journey to $1Mn ARR
Post the $1Mn ARR mark
respondents see a
median customer churn
of 10%-15%
64. 64
What Are Typical Contract Lengths? 6
Typical Contract Length Of Customers
Yearly and monthly contracts seem to be the most popular contract lengths for the respondents
28%
8%
7%38%
18%
1%
Monthly
Quarterly
Half yearly
Yearly
Multi-year contracts
Perpetual License
65. 65
What Do Contract Lengths Look Like By Customer Type? 6
Contract Length
More Than 70% of the contracts signed by large enterprise customers of the respondent are 1 year and above
PercentageShare
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Enterprises SMB/SME (Small and
Medium Business)
Perpetual License
Multi-year contracts
Yearly
Half yearly
Quarterly
Monthly
66. 66
Which Kind Of Pricing Metrics Do The Respondents Use? 6
Distribution Of Pricing Metrics Used
This is in line with last years results where 53% of respondents used number of employees as the primary pricing
metric. This is the most popular pricing metric in the US1 as well
32%
1%
13%
45%
9% Based on usage
Database size
Number of transactions
Number of users or
employees
Other
1Per Pacific Crest Private SaaS Company Survey Results 2016
67. 67
What Is The LTV/CAC Of The Respondents? (>$1Mn ARR) 6
LTV/CAC Distribution1
126 out of the 33 respondents track their LTV/CAC
NoOfRespondents
LTV/CAC
The median LTV/CAC is 4-5 for respondents with an ARR >$1Mn
1
5
7
2
13
0
2
4
6
8
10
12
14
2-2.5 2.5-3 3-4 4-5 >5
68. 68
Key Takeaways From Other Metrics
1
2
3
Revenue retention is better amongst respondents with SMB/SME customers
Respondents servicing large enterprises have more than 50% of their contracts with a period of
greater than 1 year
Respondents who sign contracts with a period of greater than a year have reported higher
revenue retention rates
70. 70
How Much Funding Have Respondents Raised? 7
Funds Raised To Date
NoOfRespondents
Funding Raised
Median Range
Pointing to a young SaaS ecosystem, 38% of our sample is bootstrapped (perhaps by design?) with another 38%
having raised less than $5Mn
29
12
16
12
4
3
0
5
10
15
20
25
30
35
Bootstrapped <$1Mn $1Mn-$5Mn $5Mn-$10Mn $10Mn-$20Mn >$20Mn
71. 71
At What Revenue Multiple Have Respondents Raised Their Most Recent Round? 7
Funding Raised To Date1
NumberofRespondents
Revenue Multiple
Given that our sample has a relatively low median ARR of $0.75Mn its no surprise to see a number of respondents
raising money at double digit revenue multiples, although the gap at 12.5-15x is notable
Median Range
1 Subset of 36 respondents
2
6
8
9
1
10
0
2
4
6
8
10
12
<5x 5x-7.5x 7.5x-10x 10x-12.5x 12.5x-15x >20x
72. 72
0
1
2
3
4
5
6
1 2 3 4 5
What Is The ARR Profile Versus The Funding Level Of Respondents? 7
As expected, funds raised correlates with ARR (but not necessarily with higher growth rates). Its also interesting to
see that bootstrapped ARRs compare well to those having raised seed funding (<$1Mn)
1 Subset of 72 respondents
2 Subset of 60 respondents
0
1
2
3
4
5
6
1 2 3 4 5
<$0.25Mn
$0.25Mn - $0.5Mn
$0.5Mn - $1Mn
$1Mn - $2.5Mn
$2.5Mn - $5Mn
$5Mn - $10Mn
Bootstrapped < $1Mn $1Mn-$5Mn $5Mn-$10Mn $10Mn-$20Mn
Median ARR vs Funding1 Median ARR Growth vs Funding2
Bootstrapped < $1Mn $1Mn-$5Mn $5Mn-$10Mn $10Mn-$20Mn
$0.25Mn-
$0.5Mn
$0.5Mn-
$1Mn
$1Mn-
$2.5Mn
$2.5Mn-
$5Mn
$2.5Mn-
$5Mn
<$10%
10% - 25%
25% - 50%
50% - 100%
100% - 200%
200% - 300%
25%-50%
100%-200% 100%-200% 100%-200%
100%
Funding Raised
Funding Raised
MedianARR
MedianYoYARRGrowthRate
73. 73
Is The Customer Focus Determining The Level Of Funding ? 7
Out of respondents who founded companies post 2013 and were funded, 73% of them were vertical focussed SaaS
players (in-line with the global trend of focus on vertical SaaS players)
1 Subset of 19 respondents
Funding Raised VS Customer Type Focus (Companies founded post 2013)1
63%
37%
Vertical Focussed
Horizontal Focussed
74. 74
Key Takeaways From Funding Section
1
2
Pointing to a young sample, 38% of respondents have raised <$5Mn and often at double digit
revenue multiples
Interestingly another 38% of our sample is fully bootstrapped. This could be related to the age
of our sample (i.e., they will raise funds as they grow), a preference for staying bootstrapped or
just being capital efficient
3 Increasing focus on Vertical focussed SaaS players with major funding activity happening in
these players
79. 79
Overview Of Signal Hill
2/3rds Of Our Business Is Through Referrals & Repeat Clients
Signal Hill is the premier
advisory boutique
serving growth
companies
Winner of the 2016
Boutique Investment
Bank of the Year award
by the Global M&A
Network’s M&A Atlas
Awards
Established in 2002, Signal Hill has completed 700+
M&A advisory and financing transactions
Trusted strategic advisor to growth companies
More than 75 professionals
Dedicated teams with deep domain expertise
Day-to-day hands-on senior leadership
Deep, broad relationship network with corporate decision
makers and private equity investors
Emerging Growth Companies Are Our Focus
Baltimore • Bangalore • Boston • Mumbai • Nashville • New York • Reston • San Francisco
GREATER OUTCOMES®
Signal Hill combines the judgment
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bulge bracket firms with the focus
and specialization of advisory
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80. 80
Signal Hill Is A Recognized Premier Advisory Firm
Recent Awards & Accolades
2016 Awards:
Private Equity Deal of the Year – Equity Investment in Internet Truckstop Group
(ITG) from Bregal Sagemount
2016 Finalist:
Deal of the Year – Acquisition of a Majority Stake in Xcira LLC by Ritchie Bros.
Deal of the Year – Acquisition of Ixxus by Copyright Clearance Center
Deal of the Year – Divestment of Kaba Holding AG’s AuoTime to Kronos
Deal of the Year – Sale of Clipper Magazine to Valassis by TEGNA
Deal of the Year – Acquisition of Interactive Achievement by PowerSchool
2015 Awards:
Dealmakers of the Year – David Dolan and Matt Fiore (Managing Directors)
2015 Finalist:
M&A Deal of the Year – Infotrieve / Copyright Clearance Center (CCC)
2014 Finanlist:
M&A Deal of the Year – Cyberoam / Sophos
Cross-Border Deal of the Year – Catapult / ChinaSoft
Equity Financing Deal of the Year – FireMon / Insight Venture Partners
2015 DEALMAKERS of
the YEAR WINNERS
Winner at the 2016 Global M&A Network’s M&A Atlas Awards:
Boutique Technology Investment Bank of the Year – Signal Hill
U.S.A Private Equity Growth Deal of the Year – Internet Truckstop Group (ITG) /
Bregal Sagemount
Winner at the 2015 Global M&A Network’s M&A Atlas Awards:
Boutique Technology Investment Bank of the Year – Signal Hill
U.S.A Private Equity Growth Deal of the Year – Primus Capital / Forte Software
Winner at the 2014 Global M&A Network’s M&A Atlas Awards:
Boutique Investment Bank of the Year – Signal Hill
Private Equity Small Middle Market Deal of the Year – FireMon / Insight Venture
Partners
Cross-Border Small Market Deal of the Year – Catapult / ChinaSoft
Winner of the Raleigh/Durham Association for Corporate Growth’s 2014
Award:
Deal of the Year – Prometheus / TA Associates
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Deep Domain Expertise In Key Growth Sectors
Longstanding Relationships With Key Strategic Companies
Signal Hill works with
companies to
capitalize on
promising trends and
potential paradigm
shifts in consumer
and business
behavior
TMT / Software
Advanced Analytics
Enterprise / SaaS
Fintech
HCM
Infrastructure
Logistics & Mobility
Security
Services
Behavioural Healthcare
Corrections
Education
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Healthcare
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e-Commerce
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Signal Hill Team has closed transactions with all the above mentioned companies
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A Proven Track Record Of Performance: 50+ Transactions In The Last 6 Quarters
Signal Hill Has Completed 700+ Transactions Since Inception
More than 700
M&A and financing
transactions
completed across
Signal Hill’s
numerous sectors
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Equally Strong Momentum In India | 23 Transaction Closures Since We Started
Closed 3 Cross Border M&A Deals With NASDAQ /NYSE Listed Acquirers in Q1’17
2012 – 2013 2014 – 2015 2016 – Q1 2017One of the
largest
investment
banking teams in
the country
focused on
growth
companies in the
technology
domain
“The Signal Hill team guided us superbly
through our first fundraise process and
worked tenaciously to create a fantastic
outcome for the Company. We are
excited about partnering with TA
Associates on our journey toward
creating the world’s most valuable travel
SaaS Company.”
- Bhanu Chopra
Founder & CEO, RateGain
HAS BEEN ACQURED BY
IS RECEIVING GROWTH
EQUITY INVESTMENT
Project
Hazel
Consortium of
Intl. Investors
Q1 2017
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HAS BEEN ACQUIRED BY
MARCH 2017
HAS BEEN ACQURED BY
HAS BEEN ACQURED BY
FEBRUARY 2017
MARCH 2017
84. 84
The Signal Hill Software Team - USA
Team Member Experience Background & Experience
Scott Wieler
Chairman & CEO
swieler@signalhill.com
+1 (443) 478-2405
30+
Has created more than $70+ billion in transaction value for clients through M&A, private placements,
venture and growth capital, divestitures, fairness opinions/valuations, defense advisory and
corporate restructuring
Prior to founding Signal Hill, was Head of the Global Telecommunications Group at DB Alex Brown
MBA from The Wharton School and B.A. from Boston College
Chris Hastings
Managing Director
Head – Private Placements
chastings@signalhill.com
+1-917-621-3750
25+
25 years of experience in raising capital; leads the Private Placement group at Signal Hill,
focusing on growth-stage companies across the technology space.
Prior to Signal Hill, was Principal at BerchWood Partners, with previous experience at Bear
Stearns, Credit Suisse, Cantor Fitzgerald, Bank of America and Prudential Securities.
MBA from Wharton and a B.S. in Finance from the Pennsylvania State University.
Christopher A. Hieb
Managing Director
chieb@signalhill.com
+1-415-590-6891
20+
Focuses on Enterprise Software, Advanced Analytics, and Contact Center Infrastructure sectors.
Prior to joining Signal Hill, was with Pacific Crest Securities for more than seven years building the
M&A practice
Began his investment banking career at SoundView Technology Group, continuing his career at W.R.
Hambrecht as the Head of West Coast M&A, and then Oppenheimer as the Head of West Coast M&A
B.S. degree in Nuclear Engineering from Purdue University
John Roediger
Managing Director
jroediger@signalhill.com
+1 415 962-4558
20+
Extensive sell side advisory experience; covers Enterprise Software, E-commerce, Financial
Techology, Healthcare IT, Software sectors at Signal Hill
Prior to Signal Hill, was a Founderr at Montgomery & Co., Managing Director at JPMorgan and
Partner at Hambrecht and Quist
Degree in Biomedical Engineering from the University of Southern California and served in the U.S.
Navy
Senior-level
involvement
throughout the
process is
critical to
driving
outcomes
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85. 85
The Signal Hill Software Team - INDIA
Senior-level
involvement
throughout the
process is
critical to
driving
outcomes
Team Member Experience Background & Experience
Klaas Oskam
Managing Director
koskam@signalhill.in
+91-80-3969-4701
20+
Extensive investment banking experience in Technology in last 10 years led & closed 30+ private
placement & M&A transactions in TMT
Prior to Signal Hill, was a Director in the Investment Banking team of EY India, responsible for
Technology M&A in the South of India.
Before moving to India in February of 2005, worked for eight years in Europe, primarily with
Arthur Andersen / Deloitte in Technology M&A.
MSc in Economics / Finance from Groningen University
Nitin Bhatia
Managing Director
nbhatia@signalhill.in
+91-22-6712-8451
14+
Extensive investment banking experience in Technology, Media, Telecom & Education
Prior to Signal Hill, was an Associate Director at Edelweiss Capital and Head of TMT practice
Before Edelweiss, he was a VP (Corporate Finance) at Centrum Capital & has previously also
worked with Inductis, ECS & iNautix
B.Tech. from IIT (BHU), Varanasi and MBA from IIM Ahmedabad
George Anthraper
Director
ganthraper@signalhill.in
+91-80-3969-4702
11+
Investment banking experience in Technology
Prior to joining Signal Hill, was Director and Head of India Operations for Technology Holdings
Before Technology Holdings, he was Associate Vice President at Avendus Capital; Began his career as
an Associate at Price Waterhouse
MBA from the Indian School of Business and is a Chartered Accountant
Nishant Malhotra
Director
nmalhotra@signalhill.in
+91-80-3969-4712
10+
Investment banking experience in the Technology, Telecom, Enterprise Software and Internet &
Digital Media sectors
Prior to Signal Hill, was Business Head for Wooqer, a retail-focused SaaS start-up. He was earlier an
Associate at Standard Chartered Private Equity and have also worked with Avendus Capital and
KPMG
BA from Brandeis University and MBA from The Wharton School
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A Leading Advisor In Software Transactions
Signal Hill Has Won Numerous Awards In The Software Sector
Recent Awards And Nominations Of Signal Hill’s Software Transactions
Private Equity Deal
of the Year, 2016
U.S.A Private
Equity Growth
Deal of the Year,
2016
U.S.A Private
Equity Growth
Deal of the Year,
2015
Deal of the Year,
2014
Finalist- M&A Deal
of the Year, 2014
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Leadership In Enterprise Software Transactions Globally
Software Is The Largest Practice Area At Signal Hill And We Rank Among The Top Banks In Mid-market Software Deals
Signal Hill has
deep
experience and
a rich history of
working with
enterprise
software / SaaS
companies
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FEB 2017
HAS BEEN ACQUIRED BYHAS BEEN ACQURED BY
MARCH 2017
HAS RAISED $50 MILLION SERIES
A FROM
MARCH 2017
HAS BEEN ACQUIRED BYHAS BEEN ACQUIRED BY
89. Public Tech Platforms APIs
India Stack, Impact of inflection points
on Government/PSUs/Private Sector
across verticals
Playbook Market
Catalyst
Policy
Technology
Stack
Enhanced Market Access
Buy products vs unique solutions and
services - B2C or B2B, Local or Global
Events/Matchmaking/Deals
Product Business Skill
Building
Services vs Product mindset
Lifecycle of entrepreneurship
Learn from peers/don’t reinvent
Simplified Regulations
Fund of Funds, Stay-in-India Checklist, List in India,
Open APIs, Grand Challenges, Buying products not
Projects, No Software Patents, Financial Inclusion,
Healthcare Inclusion, Regulatory sandbox, Digital
goods tax definition, Net Neutrality Policy, Open
Source Policy, Privacy law, Civil society watchdogs.
What we do...
90. iSPIRT Brings Intensity to Building The Technology Ecosystem
30 yr
Architects
10 yr
Planners
5 yr Doers
• Think Tanks
• Universities
• Research Labs
• VCs
• Policy Makers
• Missionary
entrepreneurs
• Bootstrapped
entrepreneurs
• Mercenary
entrepreneurs
Public
goods
• Market maker
• Ecosystem
builder
• Mindset shaper
iSPIRT:
iSPIRT Brings Intensity to Building The Technology Ecosystem
93. 93
Disclaimer & Contacts
Strictly Private & Confidential
This preliminary document has been prepared by Signal Hill Capital Advisory India Private Limited (“SHI”) for discussion purposes only. The information and opinions contained in this document are
derived from public and private sources which we believe to be reliable and accurate but which, without further investigation cannot be warranted as to their accuracy, completeness or correctness.
This information is supplied on the condition that SHI and any partner, employee or affiliate of SHI are not liable for any error or inaccuracy contained herein, whether negligently caused or
otherwise, or for loss or damage suffered by any person due to such error, omission or inaccuracy as a result of such a supply. SHI and its affiliates are also not liable for any loss or damage
howsoever caused by relying on the information provided in this document. In particular any numbers, initial valuations and schedules contained in this document are preliminary and are for
discussion purposes only and does not constitute an opinion. The credentials mentioned herein include those transactions concluded by senior employees prior to joining SHI or by entities which
have since merged with SHI and its affiliates.
Signal Hill is a leading independent advisory boutique serving the M&A and private capital raising needs of growth companies. Signal Hill’s experienced bankers provide deep domain expertise and
an unyielding commitment to clients in our sectors: Internet & Digital Media, Internet Infrastructure, Services and Software. With over 700 completed transactions and offices in Baltimore,
Bangalore, Boston, Nashville, New York, Reston and San Francisco, Signal Hill leverages deep strategic industry and financial sponsor relationships to help our clients achieve Greater Outcomes®.
iSPIRT Foundation connects and guides software product entrepreneurs and catalyses business growth. It’s an enabler of a stronger ecosystem. We encourage buyers to improve performance by
leveraging software products effectively. We advise policy makers on interventions that can set the industry on a higher growth trajectory. We are a not-for-profit industry think-tank founded by key
participants and proponents of the Indian software product industry
Klaas Oskam
Managing Director
Email: koskam@signalhill.in
Mobile: +91 97403 32000
Direct: +91 80 3969 4701
Nitin Bhatia
Managing Director
Email: nbhatia@signalhill.in
Mobile: +91 9920365756
Direct: +91 22 6169 5921
Nishant Malhotra
Director
Email: nmalhotra@signalhill.in
Mobile: +91 9961820040
Direct: +91 80 3969 4712
Varun Potturu
Analyst
Email: vpotturu@signalhill.in
Mobile: +91 7350123803
Direct: +91 80 3969 4702