India’s SaaS Revolution: Exploring global opportunities in a dynamic market

Embracing AI for Competitive Advantage


Amidst an era marked by shifting macroeconomic trends, dynamic customer needs, and transformative tech like Generative AI, the SaaS sector stands at the cusp of unprecedented growth. This report delves into these disruptions, how they redefine the SaaS model, explores the opportunities they unlock and helps chart out a path to harness the full potential of India’s SaaS sector.

A generational shift for India SaaS: SaaS to AI.SaaS:

Insights into India’s flourishing SaaS landscape

SaaS companies based in India

Indian SaaS unicorns

Indian SaaS companies having >$10Mn in ARR

Combined revenue of pure play SaaS companies in India

Revenue growth rate of Indian SaaS industry over 2020-22

Total PE/VC investments in Indian SaaS companies in the last 2 years

Revenue from North America

Revenue from mid-market and large enterprise firms

Revenue from vertical specifics s/w and developer tools

Key Trends about the SaaS future

SaaS ecosystem has the potential to create $1 trillion in value and IP creation

Explore the significant long term SaaS opportunity in India as players re-focus priorities to focus on efficient growth via “offense” and “defense” moves

India SaaS on track to achieve $50-70 B aspiration by 2030

Explore the significant long term SaaS opportunity in India as players re-focus priorities to focus on efficient growth via “offense” and “defense” moves

Disruptive forces are shaping the SaaS landscape towards the future

Decode the complex macro-disruptions, customer priority shifts, talent shocks and technology disruptions that are shaping the future of Global and India SaaS

Players need to leverage India’s sustained structural advantage to turbocharge growth

Contextualize the institutionalized execution mindset across 6 “Gears of Growth” – Business model, Talent, GTM, Productivity, Business building and M&A / Partnerships elucidated via 20+ Global/India SaaS case-studies

Generative AI advancements leading the charge towards SaaS.Ai in select sectors

Evaluate your starting position via the Gen AI disruption checklist and evaluate headroom to grow via a chess-board of 400+ use-cases

Enablers to power the Indian SaaS ecosystem for the next decade

Explore the concerted support needed across the ecosystem by stakeholders like industry associations, Investors, policymakers and corporates via global case-studies to power the India SaaS ecosystem

What’s Inside?

Steering Committee & SaaSBoomi Member Companies

Ritesh Arora


Manav Garg

Eka Software

Sangeeta Gupta


Shekhar Kirani


Girish Mathrubootham


Tejeshwi Sharma

Peak XV

Avinash Raghava


About the creators

Shaping India’s SaaS Landscape Report is anchored by Manav Garg, the founder, and CEO of Eka, and aided by inputs from leading SaaS founders, VCs, and ecosystem enablers.

This report was developed by SaaBoomi, which led to a comprehensive two-month effort to build a perspective on the future of the SaaS landscape in India. McKinsey & Company as the knowledge partner helped with independent third-party research and analysis.

NASSCOM as the supporting partner assisted with community outreach and expert analysis.

We are thankful for the support, guidance, and dedication of the SaaBoomi Steering Committee and SaaBoomi member companies. In particular, we would like to acknowledge the contributions of Girish Mathrubootham, Krish Subramanian, Mohit Bhatnagar, Sangeeta Gupta, and Shekhar Kirani. We would also like to thank Eight Roads, Sequoia, Nexus Venture Partners, B Capital Group, Accel Partners, Westbridge Capital, Tiger Global, and Microsoft for their valuable inputs.

A special acknowledgment is due to Avinash Raghava and the entire SaaBoomi team for their efforts and contributions.

Speakers of the SaaS Report Launch 2023

Hemant Mohapatra

Partner, Lightspeed

Manav Garg

CEO & Founder, Eka

Noshir Kaka

Senior Partner, McKinsey & Company

Vijay Rayapati

Co-founder and CEO, Atomicwork

Vishwanath Kollapudi

Building, AI-native design software for commerce

All about SaaS Landscape Report 2022

Key insights

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