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20 London Based SaaS Companies to Watch in 2022
The London SaaS scene is booming, with new companies emerging every day. A recent study by Statista found that the SaaS companies' market revenue in the UK is growing at a rate of 8.65% year over year, with a projected market value of US$16.47bn by 2026. That's why we decided to put together a list of the top 20 SaaS companies in London for 2022.
This list is based on innovation, growth, and social impact. We have picked companies across the spectrum, from established brands to cutting-edge startups.
What Do SaaS Companies Do?
SaaS companies provide software-as-a-service, meaning they offer access to software over the internet. This can be anything from office productivity suites like Google Suite to project management tools like Asana or Salesforce. SaaS companies usually have a subscription-based pricing model, which means you pay a monthly or annual fee to use their software.
The benefits of SaaS are that it's usually more cost-effective than buying software outright, and you can access it from anywhere with an internet connection. SaaS is also more scalable than traditional software, so it's perfect for businesses that want to grow quickly.
Let's look at the top SaaS companies in London for 2022.
Fugo
Fugo.Ai is a SaaS company that takes the frustration and expense out of managing your digital signage screens and content. Its digital signage software allows customers to design sleek content, manage screens, publish easily, monitor screens remotely, and measure the impact with in-depth analytics. Teams can also work together seamlessly in the cloud.
The digital signage player software supports most platforms and runs on readily available professional and consumer devices. In addition, Fugo recently launched a TV Dashboards feature that allows its customers to securely display business intelligence (BI) dashboards on digital signage screens.
- Year founded: 2017
- Founders: Camilla Chesham, Zuka Kakabadze
- Total funding: $500K. Investors include Georgia's Innovation and Technology Agency and BFS Investment Fund.
Vitt
Vitt is creating a platform that reduces the time and cost of raising funds for SaaS entrepreneurs while also creating a new investment asset class. The platform allows a SaaS firm with contracted revenue to apply for financing immediately rather than sell shares to raise capital.
Vitt’s technology analyses the company's accounts receivables, sales data, and other financial information, to make a quick financing decision. Vitt makes money through a small discount on the expected cash flow. For example, if a SaaS company has a contracted customer paying $20 monthly ($240 yearly), Vitt will give the company $230 upfront and collect $20 monthly via 12-months instalments and net $10 as revenue.
This non-dilutive financing is revolutionising startup finance, where it will no longer be about who you know but what you've built.
- Year founded: 2021
- Founders: Grzegorz Janik, Saket Kumar
- Total funding: $15M. Investors include Village Global and Speedinvest.
- Website: vitt.sh
- Twitter: VittFinancing
- LinkedIn: Vitt
Konfir
Konfir is a SaaS company that provides an AI-powered software platform that helps businesses conduct employment and income verifications for UK-based workers.
The platform uses machine learning to automatically verify employment and income data for workers in real-time, eliminating the need for manual processing.
Konfir's network connects employers, employees, payroll platforms, and banks across the UK.
- Year founded: 2022
- Founders: Chris Milligan
- Total funding: £1.6M. Investors include Triple Point Ventures and Michael Pennington.
- Website: konfir.com
- LinkedIn: Konfir
BoxyHQ
BoxyHQ is an open-source software that allows you to include enterprise capabilities in any SaaS app with only a few lines of code. The company was founded by SaaS veterans who were tired of the "one size fits all" approach to SaaS platforms.
BoxyHQ has solved a major problem for SaaS startups not being ready to sell to Enterprises despite having great products.
- Year founded: 2021
- Founders: Carlos Samame, Deepak Prabhakara
- Total funding: $2.5M. Investors include OSS Capital, Nauta Capital and MMC Ventures.
- Website: boxyhq.com
- Twitter: BoxyHQ
- LinkedIn: BoxyHQ
Bukit
Bukit, pronounced "book it", is a marketplace that connects service providers to end-users through white-labelled SaaS software. The firm has assisted over 1,000 small and medium enterprises in offering millions of people services at the click of a button worldwide.
Bukit aims to revolutionise the service sector by providing businesses with technology that helps them optimise their operations and attract new customers via an online marketplace. In addition, the company strives to make it easier for consumers to locate the service they need at a price that suits them best.
- Year founded: 2021
- Founders: Segundo Cadainggan, Raghad Mukhaimer, Daniel Shoar
- Total funding: $3.6M. The lead investor is Middle East Venture Partners (MEVP).
- Website: bukit.co.uk
- LinkedIn: itsbukit
LF Group
LF Group developed a toolkit that includes a web platform, an LFG bot in Discord, and a mobile app, all of which have one goal – to make it as easy as possible for gamers with similar skill levels and interests to connect.
The application has proven to be a hit with gamers, who can also join or create tournaments, clans, and gaming sessions. The entire toolkit is currently free to use.
- Year founded: 2021
- Founders: Alex Karetin, Alexey Moiseenkov, Dmitry Beseda, Stas Kapinus
- Total funding: $1M. The lead investor is Grishin Robotics.
Red Sift
Red Sift was founded by Shazam founders and is backed by the most experienced entrepreneurs and angels in London to democratise cybersecurity technology. Research suggests that launching a cyberattack is considerably cheaper than defending against one. Red Sift wants to give all organisations a fair fighting chance to defend themselves against cyberattacks cost-effectively.
The Red Sift Open Cloud is a data analysis platform designed specifically for cybersecurity demands. It can securely collect, compute, and visualise data from thousands of distinct signals to help businesses optimise their cybersecurity using AI.
- Year founded: 2015
- Founders: Rahul Powar, Randal Pinto
- Total funding: $54M. Investors include Oxford Capital Partners, MMC Ventures and Highland Europe.
- Website: redsift.com
- Facebook: redsift
- Twitter: redsift
- LinkedIn: Red Sift
OTA Insight
OTA Insight's cloud-based business intelligence solutions suite – which includes Rate Insight, Parity Insight and Revenue Insight – gives hoteliers the power to make more informed revenue and distribution decisions. The OTA Insight platform connects with various industry tools, including revenue management software, hotel property management systems, and data benchmarking tools. In addition, it features live updates, 24/7 customer support, and a highly intuitive and configurable dashboard.
- Year founded: 2012
- Founders: Adriaan Coppens, Gino Engels, Matthias Geeroms
- Total funding: $80M. Investors include Spectrum Equity and Eight Roads Ventures.
- Website: otainsight.com
- Facebook: otainsight
- Twitter: otainsight
Fresha
Fresha allows consumers to discover, book and pay for beauty and wellness appointments with local businesses via its marketplace, while beauty and wellness businesses and professionals use an all-in-one platform to manage their entire operations with its intuitive free business software and financial technology solutions. Fresha’s ecosystem gives merchants everything they need to run their business seamlessly by facilitating appointment bookings, point-of-sale, customer records management, marketing automation, loyalty, beauty products inventory and team management.
60,000+ businesses across 180 nations and over 200,000 professionals use Fresha worldwide.
The company recently acquired Australia's Bookwell, an Australian competitor, for an undisclosed amount.
- Year founded: 2015
- Founders: Nick Miller, William Zeqiri
- Total funding: $152.5M. Investors include General Atlantic, Partech, Target Global, and Middle East Venture Partners (MEVP).
- Website: fresha.com
- Facebook: Fresha
- Twitter: heyfresha
- LinkedIn: Fresha
Kolleno
The Kolleno platform allows small, medium, and large businesses in various sectors to process payments more quickly while also improving customer experience.
Kolleno is a single interface to manage payments, accounting, and communication. It integrates with business software in seconds, saving you time while also simplifying all cash collection activities. The AI-based technology allows businesses to modernise credit control by automating manual debt chasing, sequencing personalised payment reminders through multiple communication channels, and reconciling payments with ease.
- Year founded: 2020
- Founders: Dimitri Raziev, Ron Danenberg
- Total funding: £4M. The lead investor is Eurazeo, Stride.VC.
- Website: kolleno.com
- Facebook: KollenoHQ
- Twitter: KollenoHQ
- LinkedIn: Kolleno Limited
Infobip
Infobip specialises in omnichannel engagement and offers a variety of messaging channels, technologies, and solutions for sophisticated customer engagement, authentication, and security. The firm helps its clients and partners navigate the complexity of consumer interactions while increasing sales and improving the customer experience quickly, securely, and reliably.
The company has a strong international focus and is headquartered in London with offices across Europe, Asia, the Middle East, Africa, North America, and Latin America.
- Year founded: 2006
- Founders: Izabel Jelenic, Roberto Kutic, Silvio Kutic
- Total funding: $200M. The lead investor is One Equity Partners.
- Website: infobip.com
- Facebook: infobip
- Twitter: Infobip
- LinkedIn: infobip
Capdesk
Capdesk is highly efficient cloud-based equity management software, designed to enable companies to quickly set up, implement, and administer employee equity plans, give employees easy access to ownership information, monitor all equity-related transactions, perform centralised investment portfolio management, and produce the necessary reports for financial authorities.
In addition, Capdesk automates the building and updating of capitalisation tables, and provides all the tools necessary for building and maintaining valuable investor relationships.
- Year founded: 2015
- Founders: Casper Arbøll, Christian Gabriel, Martin Damhus, Mikkel Boje
- Total funding: $15.3M, Investors include Fidelity International Strategic Ventures, Middlegame Ventures, and Fuel Ventures.
OneTrust
OneTrust is a world leader in providing privacy management software to companies. OneTrust's solutions help organisations comply with global data security rules while gaining insight into how their internal data is used. With more than 7,500 clients, including half of Fortune 500 companies, OneTrust is indeed a highly trusted solution for helping organisations comply with hundreds of the world’s privacy and security laws.
- Year founded: 2016
- Founders: Kabir Barday
- Total funding: $926.4M. Investors include Franklin Templeton Investments, SoftBank Vision, Insight Partners, and TCV.
- Website: onetrust.com
- Facebook: officialonetrust
- Twitter: OneTrust
- LinkedIn: OneTrust
Snyk
Snyk is a developer security platform. Integrating directly into development tools, workflows, and automation pipelines, Snyk makes it easy for teams to discover vulnerabilities in the source code of an application.
Snyk was built with the goal of helping developers bake security into the software development cycle as early as possible. Much like antivirus software scans a device for threats, Snyk scans source code and provides a list of vulnerabilities, which it lists as major, minor, or critical. It also provides a description of each vulnerability, where it is in the code, as well as a fix for it.
- Year founded: 2015
- Founders: Assaf Hefetz, Danny Grander, Guy Podjarny, Jacob Tarango
- Total funding: $926.4M. Investors include Franklin Templeton Investments, SoftBank Vision, Insight Partners, and TCV.
Checkout
Checkout.com, valued at $40 billion, is Europe's most valuable unicorn firm. Designed to offer companies a one-stop-shop for all things related to payments, the solution integrates electronic transactions, analytics, and fraud monitoring into one platform.
Working almost exclusively with large enterprise merchants, Checkout.com’s clients include Coinbase, Wise, eToro, Klarna, Pizza Hut, and Revolut.
- Year founded: 2012
- Founders: Guillaume Pousaz
- Total funding: $1.8B. Investors include Tiger Global Management, Coatue, DST Global, Insight Partners, Franklin Templeton Investments and Ribbit Capital.
- Website: checkout.com
- Facebook: checkout
- Twitter: checkout
- LinkedIn: checkout
Modulrfinance
Modulr is a FinTech firm that provides Payments-as-a-Service APIs for digital enterprises, designed to make money to flow more efficiently through businesses and the economy. With Modulr, organisations can automate payment flows, embed payments into their platforms, and build entirely new payment products and services themselves – all managed in real-time from a single API.
- Year founded: 2015
- Founders: Cyrus Wadia, Jakub Zmuda, Kevin Hayes, Martin Threakall, Myles Stephenson, Ritesh Tendulkar
- Total funding: $1.8B. Investors include FIS Impact Ventures, PayPal Ventures, Highland Europe, Capability and Innovation Fund, Blenheim Chalcot, Frog Capital, and Blenheim Chalcot.
- Website: modulrfinance.com
- Twitter: ModulrFinance
- LinkedIn: Modulr Finance
Onfido
Onfido develops SaaS solutions for fraud prevention and identification verification. Designed to speed up and automate know your customer (KYC) processes, organisations can take advantage of the Onfido solution to validate of the identity of their online customers. Onfido's technology uses AI to determine whether government issued identity documents presented by customers are genuine. In addition, organisations ask customers to submit a selfie, which Onfido then compares with photographs on ID documents using facial biometrics – thus reducing the need for human verification.
- Year founded: 2012
- Founders: Eamon Jubbawy, Husayn Kassai, Ruhul Amin
- Total funding: $188.8M. Investors include TPG Growth, Augmentum Fintech, Salesforce Ventures, Crane Venture Partners, and Capability and Innovation Fund.
- Website: onfido.com
- Facebook: Onfido
- Twitter: Onfido
- LinkedIn: onfido
Wise
Wise, formerly TransferWise, was founded with the goal of making foreign money transfers inexpensive, fair, and straightforward. Wise has accounts all over the world. When customers want to send money aboard, they pay with their local currency into Wise’s local account. Then, a Wise account in the overseas country sends money in the local currency to the recipient. This way, money paid never actually crosses borders, removing many exchange fees customers experience when going through traditional channels.
For enterprises, Wise for Business is a cloud-based accounting software that helps manage company finances more efficiently. It includes a bill payment system, seamless integration with Xero, and payroll management features with real-time rates in over 40 currencies. Business customers can also receive money without incurring any charges.
- Year founded: 2011
- Founders: Kristo Kaarmann, Taavet Hinrikus
- Total funding: $1.3B. Investors include Silicon Valley Bank UK, D1 Capital Partners, Lone Pine Capital, Lead Edge Capital, Vitruvian Partners, JP Morgan, LHV Ventures, NatWest Bank, Institutional Venture Partners, Merian Global Investors, Baillie Gifford, Andreessen Horowitz, and Valar Ventures.
- Website: wise.com
- Facebook: Wise
- Twitter: Wise
- LinkedIn: Wise Account
Hopin
Virtual conference technology provider Hopin enables brands and communities to create all-in-one live video event experiences for online audiences, where attendees can move freely between rooms as if they were at a real expo. With Hopin, organisations can create live virtual and hybrid events that are interactive and immersive, while event marketing features allow for the easy promotion events to drive ticket sales.
- Year founded: 2019
- Founders: Johnny Boufarhat
- Total funding: $1B. Investors include Altimeter Capital, Arena Holdings, Andreessen Horowitz, General Catalyst, Institutional Venture Partners, Tiger Global Management, LinkedIn, and Accel.
- Website: hopin.com
- Facebook: Hopin official
- Twitter: Hopin
- LinkedIn: Hopin
Omnisend
Omnisend is an omnichannel marketing automation platform for growth-focusses ecommerce businesses. The solution allows marketing teams to add numerous communication channels to the same automation workflow for seamless communication across email, SMS, push notifications, and more. Marketers can use Omnisend’s extensive range of features to create personalised messages and campaigns based on customer data, campaign engagement, purchase history, and shopping behaviours.
- Year founded: 2014
- Founders: Justas Kriukas, Rytis Lauris, Zygimantas Stauga
- Total funding: $1B. Investors include Altimeter Capital, Arena Holdings, Andreessen Horowitz, General Catalyst, Institutional Venture Partners, Tiger Global Management, and Accel.
- Website: omnisend.com
- Facebook: omnisend
- Twitter: omnisend
- LinkedIn: omnisend
Final Thoughts
The 20 companies on our list are just a snapshot of the amazing innovation happening in vibrant city of London. With such a thriving tech community and so much growth potential, we can't wait to see what the future holds for London's SaaS companies.
If you're a SaaS company looking to scale your business, zsah can help. We're a managed service provider with a team of experts who can assist you with application hosting and environment management for your software. We also offer professional services such as cloud migrations and implementation, architecture, security & compliance, DevOps, and bespoke technology advisory services.
Contact us today to learn more about how we can help you take your SaaS business to the next level.