About SaaS sector in Mumbai, India
The SaaS sector in Mumbai, India comprises 2.41K companies, including 421 funded companies having collectively raised $5.82B in venture capital money and private equity. Out of these, 139 are Series A+ funded, and 3 have achieved unicorn status.
SaaS sector in Mumbai, India has seen 57 acquisitions and 10 IPOs.
This sector includes companies providing cloud-based, multi-tenant and subscription or on-demand B2B software applications.
Companies included in SaaS
All B2B software that offers cloud-based, multi-tenant solutions for business functions like Marketing, HR, Sales, Business Intelligence, etc.Companies excluded in SaaS
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 Mumbai, India
There are more than 2.41K companies in SaaS in Mumbai, India. Seclore is the top SaaS company in Mumbai, India, ranked using Tracxn Score (what's this?).
Here are 5 of the top SaaS companies in Mumbai, India:
Company | Description | Location | Founded | Current Stage | Private Funding Raised |
|---|---|---|---|---|---|
Provider of enterprise data security software | Mumbai (India) | 2008 | Series C | $50.2M | |
Provider of business loans and related financial products for MSMEs | Mumbai (India) | 2016 | Acquired | $97.3M | |
Provider of interior design, product supply, and project management services | Mumbai (India) | 2011 | Series C | $65.5M | |
Provider of a digital freight network and transportation management system | Mumbai (India) | 2014 | Series C | $57.7M | |
Provider of identity verification, background screening, fraud prevention, and risk solutions | Mumbai (India) | 2011 | Series E | $38.4M |
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Companies founded year-on-year in the SaaS sector in Mumbai
227 SaaS startups in Mumbai were founded in 2016 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | 14 |
2024 | 67 |
2023 | 99 |
2022 | 118 |
2021 | 135 |
2020 | 204 |
2019 | 169 |
2018 | 131 |
2017 | 132 |
2016 | 227 |
Stage-wise distribution of SaaS sector companies in Mumbai
Out of the total 2,411 SaaS companies in Mumbai, 421 have secured funding. Among them, 139 have reached Series A or higher, and 91 to Series B or beyond.
Founded - 2,411
Funded - 421
Series A+ - 139
Series B+ - 91
Series C+ - 83
Company Stage | No. of companies |
|---|---|
Founded | 2,411 |
Funded | 421 |
Series A+ | 139 |
Series B+ | 91 |
Series C+ | 83 |
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Funding Trends in the SaaS sector in Mumbai
Total funding year-on-year in the SaaS sector in Mumbai
The SaaS sector in Mumbai saw a total funding of more than $4.09B in the last 10 years. The most amount of funding was in 2021 at more than $1.77B.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $236M |
2024 | $474M |
2023 | $181M |
2022 | $611M |
2021 | $1.77B |
2020 | $235M |
2019 | $199M |
2018 | $211M |
2017 | $94.8M |
Recent Funding Rounds in SaaS in Mumbai
In the year 2026, till January 2026, SaaS companies in Mumbai have raised $23.6M in equity funding across 1 round.
In the same period last year (i.e. till January 2025), SaaS companies in Mumbai had raised $16.7M across 7 rounds.
So, 2026 has seen a 41.58% rise in funding in SaaS companies in Mumbai as compared to 2025.
Here are some recent, important funding rounds in SaaS companies in Mumbai:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series A | 4625 | Jan 02, 2026 | ||
Series A | 7841 | Oct 06, 2025 | ||
Series D | 6355 | 2025 | ||
Series C | 6103 | Sep 30, 2025 | ||
Seed | 5665 | Sep 16, 2025 |
Top Investors in SaaS in Mumbai
Norwest Venture Partners is the top investor in SaaS companies in Mumbai based on number of companies invested.
Here are some top investors in SaaS companies in Mumbai:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Menlo Park (United States) | ||
Menlo Park (United States) | ||
London (United Kingdom) | ||
Mumbai (India) | ||
Menlo Park (United States) |
M&A activity in SaaS sector in Mumbai
In the year 2025, till September 2025, 2 acquisitions happened in SaaS sector in Mumbai. Last year, in 2024, a total of 7 acquisitions happened in SaaS sector in Mumbai.
Here are some recent, important acquisitions in SaaS sector in Mumbai:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Sep 16, 2025 | ||
Business Acquisition | Jul 09, 2025 | - | |
Business Acquisition | Dec 05, 2024 | ||
Business Acquisition | Oct 11, 2024 | ||
Business Acquisition | Sep 12, 2024 |
Acquisition trends in SaaS sector in Mumbai
Here are the acquisition trends in SaaS sector in Mumbai:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2025 | 1 |
2024 | 7 |
2023 | 6 |
2022 | 6 |
2021 | 11 |
2020 | 1 |
2019 | 6 |
2018 | 3 |
2017 | 3 |
2016 | 8 |
IPOs in SaaS in Mumbai
In the year 2025, till September 2025, 2 IPOs happened in SaaS sector in Mumbai.
Here are some recent, important IPOs in SaaS sector in Mumbai:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Sep 30, 2025 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Jun 25, 2025 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) | |
Jan 31, 2024 | Bombay Stock Exchange (BSE) | |
Jul 05, 2023 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Mar 31, 2021 | National Stock Exchange (NSE), Bombay Stock Exchange (BSE) |
Colleges which produce the most SaaS companies in Mumbai
Companies founded by alumni from top colleges in the SaaS in Mumbai
Most number of SaaS startups in Mumbai have been founded by alumni from IIT Bombay, IIM Calcutta and IIM Ahmedabad.
College | No. of companies |
|---|---|
IIT Bombay | 90 |
IIM Calcutta | 32 |
IIM Ahmedabad | 31 |
IIT Kharagpur | 26 |
BITS Pilani | 21 |
Indian School of Business | 21 |
IIM Bangalore | 18 |
IIT Delhi | 17 |
IIT Kanpur | 17 |
Carnegie Mellon University | 13 |
Total funding in SaaS companies founded by alumni from top colleges in Mumbai
In the last 10 years, IIT Bombay graduates' SaaS companies in Mumbai have raised the most funding among top colleges. Carnegie Mellon University alumni are second, and IIM Ahmedabad alumni are third.
College | Total Funding |
|---|---|
IIT Bombay | $1.32B |
Carnegie Mellon University | $1.27B |
IIM Ahmedabad | $1.26B |
Massachusetts Institute of Technology | $544M |
Indian School of Business | $312M |
IIT Madras | $237M |
IIT Delhi | $234M |
The University of Adelaide | $183M |
IIT Kharagpur | $86.1M |
National University of Singapore (NUS) | $71M |
Top News in SaaS in Mumbai
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Mobavenue's AI Tech Platforms Win '2025 Champions of Scale' Award at Aerospike SummitBusinessFortNight•Sep 30, 2025•Mobavenue
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Unicorn India-backed healthcare payments firm QubeHealth eyes fundraiseVCCircle•Sep 15, 2025•QubeHealth
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Route Mobile shares plunge 4% as Q1 net profit, revenue takes a hitMoneycontrol•Jul 18, 2025•Route Mobile
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Shiseido Partners with Emphasys for Global SAP TransformationGlobeNewswire•Jul 08, 2025•Shiseido, e-Emphasys Technologies
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AirPay partners with Oracle Hospitality to provide payment solutions for hotel customersBusiness News This Week•Jun 23, 2025•Airpay, Oracle
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PhonePe acquires GSPay IP to launch UPI payments for new feature phonesNewsDrum•Jun 06, 2025•PhonePe, Gupshup, GSPAY
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AI platfrom Gupshup lays Off 300 employees, here’s what the company said TOI Tech Desk Indiatimes•Apr 17, 2025•Gupshup
