About SaaS sector in India
The SaaS sector in India comprises 39.9K companies, including 3.99K funded companies having collectively raised $34.9B in venture capital money and private equity. Out of these, 1.1K are Series A+ funded, and 31 have achieved unicorn status.
SaaS sector in India has seen 477 acquisitions and 69 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 39,885 SaaS startups in India which include Shiprocket, Razorpay, Mygate, Freshworks, Capillary Technologies. Out of these, 3,990 startups are funded, with 1,097 having secured Series A+ funding, and 31 achieving unicorn status.
2026 has seen the creation of 3,450 SaaS startups in India. Over the past 10 years, an average of 2,232 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Delhi, BITS Pilani and IIT Bombay.
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: Delhi (India)
- Stage: Public
- Total Funding till date: $322M
- Investors: Temasek, Bertelsmann India Investments and 63 Others
- Latest Funding Round: Series E, Dec 23, 2024, $*****
- Tracxn Score: 87/100 What is this?
- Competitors Rank: 1 of 1,476 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, Y Combinator and 35 Others
- Latest Funding Round: Series F, Dec 19, 2021, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 3 of 8,488 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, Urban Company and 48 Others
- Latest Funding Round: Series B, Jun 10, 2026, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 1 of 636 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 11,919 Competitors
AI powered loyalty management software for enterprises. It is an omnichannel platform to optimize customer retention and engagement. The platform generates reports that provides visibility and insights into the loyalty performance. Its analytics tool allows businesses to segment customers, generate personalized coupons, run targeted campaigns, and predict customer behavior and affinities. Offering includes customer data platform, predictive analytics, and customer engagement.
Key facts about Capillary Technologies
- Founded Year: 2008
- Location: Bengaluru (India)
- Stage: Public
- Total Funding till date: $144M
- Investors: Warburg Pincus, Norwest and 32 Others
- Latest Funding Round: Conventional Debt, Jun 01, 2023, $*****
- Tracxn Score: 82/100 What is this?
- Competitors Rank: 1 of 2,029 Competitors
Companies founded year-on-year in the SaaS sector in India
3,450 new startups have been founded so far in 2026 in the SaaS sector in India. 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 | 3,450 |
2025 | 1,799 |
2024 | 1,900 |
2023 | 2,015 |
2022 | 1,747 |
2021 | 2,169 |
2020 | 3,170 |
2019 | 2,354 |
2018 | 1,876 |
2017 | 1,843 |
Stage-wise distribution of SaaS sector companies in India
Out of the total 39,885 SaaS companies in India, 3,990 have secured funding. Among them, 1,097 have reached Series A or higher, and 746 to Series B or beyond.
Founded - 39,885
Funded - 3,990
Series A+ - 1,097
Series B+ - 746
Series C+ - 629
Company Stage | No. of companies |
|---|---|
Founded | 39,885 |
Funded | 3,990 |
Series A+ | 1,097 |
Series B+ | 746 |
Series C+ | 629 |
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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 $32B in the last 10 years. The most amount of funding was in 2021 at more than $7.7B. There has been a total funding of $2.6B in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $2.6B |
2025 | $2.83B |
2024 | $3B |
2023 | $1.94B |
2022 | $5.23B |
2021 | $7.7B |
2020 | $2.03B |
2019 | $2.35B |
2018 | $1.22B |
2017 | $3.15B |
Recent Funding Rounds in SaaS in India
In the year 2026, till August 2026, SaaS companies in India have raised $2.58B in equity funding across 226 rounds.
In the same period last year (i.e. till August 2025), SaaS companies in India had raised $1.62B across 329 rounds.
So, 2026 has seen a 59.94% 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 |
|---|---|---|---|---|
Series A | 7674 | Aug 28, 2026 | ||
Series A | 7590 | Aug 27, 2026 | - | |
Series C | 8710 | Aug 25, 2026 | ||
Seed | 2052 | Aug 20, 2026 | - | |
Seed | 3463 | Aug 19, 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) | ||
London (United Kingdom) |
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M&A activity in SaaS sector in India
In the year 2026, till July 2026, 21 acquisitions happened in SaaS sector in India. Last year, in 2025, a total of 47 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 28, 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 | 21 |
2025 | 47 |
2024 | 40 |
2023 | 31 |
2022 | 69 |
2021 | 67 |
2020 | 23 |
2019 | 42 |
2018 | 30 |
2017 | 26 |
IPOs in SaaS in India
In the year 2026, till August 2026, 6 IPOs happened in SaaS sector in India.
Here are some recent, important IPOs in SaaS sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Aug 19, 2026 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Aug 11, 2026 | Bombay Stock Exchange (BSE) | |
Jun 11, 2026 | Bombay Stock Exchange (BSE) | |
Mar 25, 2026 | Bombay Stock Exchange (BSE) | |
Feb 24, 2026 | Bombay Stock Exchange (BSE) |
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 IIT Delhi, BITS Pilani and IIT Bombay.
College | No. of companies |
|---|---|
IIT Delhi | 366 |
BITS Pilani | 360 |
IIT Bombay | 332 |
IIT Kharagpur | 250 |
IIT Kanpur | 204 |
IIT Madras | 180 |
IIM Bangalore | 170 |
IIM Ahmedabad | 163 |
Indian School of Business | 163 |
IIT Roorkee | 146 |
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 | $3.73B |
IIT Kharagpur | $3.4B |
IIM Ahmedabad | $3.04B |
IIT Delhi | $2.85B |
BITS Pilani | $2.57B |
Carnegie Mellon University | $1.72B |
Indian School of Business | $1.66B |
IIT Roorkee | $1.59B |
IIT Madras | $1.19B |
Wharton School | $1.15B |
Top News in SaaS in India
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Jio Haptik Unveils SOLO, an AI Growth Team for India's Solopreneurs and Small BusinessesBusinessnewsthisweek•Jul 07, 2026•Haptik
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iServeU Secures OVSE Certification from UIDAI for Offline Identity VerificationExpress Computer•Jul 03, 2026•iServeU
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Henkel strengthens its consumer brands as investors watch global exposureAd Hoc News•Jul 01, 2026•Henkel
