Covid19 pandemic has emerged as an existential threat to the nation’s small and medium businesses. Over 33% of small businesses and self-employed businessmen now don’t see any chance for recovery in the coming months even as the government has now announced unlock 3.0. The survey by AIMO got responses from 46,525 MSMEs, self-employed, corporate CEOs and employees. While one in every third MSME believes that recovery is a far shot, another 33% of MSMEs said they hope for recovery in the coming six months.
However, SaaS startups in some sectors were able to survive the storm better than others and overshot their growth goals. SaaS adoption has skyrocketed over the past few years. According to the 2020 edition of Bain & Co’s India Private Equity report, co-authored with the Indian Private Equity and Venture Capital Association (IVCA), the Indian SaaS market is expected to grow around 50% annually to over $20 billion in 2022 from about $6 billion in 2019. Approx 51 per cent of companies used SaaS for their software needs in 2018, and by 2022 86 per cent of the companies will rely on SaaS for at least 80 per cent of their software needs.
Few industry leaders who are actively working and have grown exponentially during this Covid19 pandemic:
Clickpost is India's largest and Asia’s second-largest integrated logistics platform. It entered the Middle East market amid the pandemic and now powers 10M+ shipments every month in Asia. It is working with multi-billion dollar retail giants in the Middle-East to help them expand online. With 20% month-on-month growth in client base in the Middle-East, ClickPost focuses on building best-in-class logistics operations and excellent customer experience. Its plug and play SaaS platform puts intelligence in every delivery and has enabled its clients including United Homeware Company, Realme, Nykka and more reduce RTO Rates, prevent delays, cut down logistics and customer care costs and provide best after purchase experience.
Classplus is India’s fastest growing company providing technology solutions to teachers and coaching centres. Founded by graduates of IIT and NSIT, it offers a unified platform for all teachers to take online live classes, share study material, give homework, and exchange messages with their students. Classplus has seen a growth of over 500% with 20,000+ teachers using it to teach over 30 Lakh+ students in the past 6 months. It also raised $9M in its Series A round from RTP Global, Sequoia Capital India’s Surge and Blume Ventures.
Druva, a data protection company based in Pune and California sets a benchmark as the Largest and Fastest Growing SaaS Data Protection Company. Leveraging the powerful capabilities across their organizations, customers have performed over 1.5 billion backups with Druva in the last few months, and the company has helped more than 1,000 companies move away from the investment-heavy and legacy approaches to data protection.
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