The Indian Software-as-a-Service (SaaS) market has grown by leaps and bounds in the last few years. With it, many SaaS startups have emerged in the country, grabbing the attention of global investors. This is evident from the funding raised by the sector in the past few years. In 2021, Indian enterprisetech startups raised more than $3.2 Bn in investments.
In addition, the sector has also shown enormous potential for growth. A report by SaaSBOOMi estimated that the Indian SaaS sector was on track to generate revenue between $50 Bn and $70 Bn by 2030. The report also found that the Indian entrepreneurs were likely to dominate 4%-6% of the global market by 2030.
Hevo Data: DevTools SaaS Startup Of The Year
- Headquarters: San Francisco, US
- Founders: Manish Jethani, Sourabh Agarwal
- Founded In: 2017
- Total Funding: $43 Mn
- Key Investors: Sequoia Capital, Chiratae Ventures, Qualgro Partners
- No. Of Customers/Clients: 1,000+
Hevo Data was picked as the winner for this year’s SaaSBOOMi “DevTools SaaS Startup of the Year”. Hevo Data is an automated self-serve no-code data pipeline platform that loads data from any source into warehouses like Snowflake, Google BigQuery, Amazon Redshift, and others.
The startup helps companies combine data from a wide array of applications including CRM, advertising channels, martech, financial system software, and customer support products to allow companies to get up-to-date data in their warehouse.
The startup offers services to more than 1,000 companies spread across 35 countries. It claims to have grown its revenue by 4X over the last year and to be well on track to grow it further by 3X this year.
The startup has so far raised $43Mn in funding across multiple funding rounds. Hevo Data is backed by big names in the investor world such as Sequoia Capital, Chiratae Ventures and Qualgro Partners.
The startup is based out of San Francisco and operates with a team of more than 200 people. Hevo Data plans to continue investing in product development and add more people to its workforce. Outlining its long term plans, the startup plans to expand its user offerings to allow non-technical users to utilise the platform.