Top 50 Privately-Held Enterprise Software Companies
Despite broad based cuts in spending, companies invested heavily in digital transformation while adapting to shifts in the workplace as a result of the pandemic. All companies were ranked based on a number of metrics including funding, market valuation, projected revenue, and growth.
REPORT HIGHLIGHTS 2020 through June, 2021 has been a phenomenal time of growth for enterprise startups. Notable deals include acquisitions of Wrike, Aspect Software, and Blue Yonder, and IPO’s by Squarespace, UiPath, Sprinklr, and QOMPLX.
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2020 was a phenomenal year of growth for enterprise software startups. Despite spending by many companies seemingly reduced, especially in terms of headcount, organizations poured money into their digital transformation as they scrambled to adapt to an online workflow, and drive growth digitally midst the pandemic. Global spending on enterprise software recorded $426BN in 2020, and we expect 2021 figures to only increase as companies continue to find ways to enable a distributed workforce while delivering better customer experiences, maintain or enhance cybersecurity protocols, and more. McKinsey reports that the predicted five year business digital adoption was compressed into a period of eight weeks as the result of the pandemic.
In this report, we focus on key trends and rank 50 top-performing enterprise software companies based on funding and growth by employees and revenue. We also take a look at eight enterprise software trends and spotlight leading startups of these trends.
The data in this report was extracted and features data until June 2021.
- Wrike was acquired by Citrix Systems for $2.25BN
- Aspect Software was acquired by Noble Systems for $1BN
- Blue Yonder was acquired by Panasonic for $7.1BN
- UiPath, notable for its robotic process automation, IPO’ed in April and was notably one of the biggest IPOs of enterprise software companies, after Snowflake and Qualtrics, bringing in $1.3BN on its debut day.
- Squarespace, famous for its low-code website building platform, went public via direct listing at a $6.5BN valuation
- Customer management platform Sprinklr went public in mid June after downsizing its IPO and raised $266MM.
- QOMPLX, a cloud-native risk analytics company, went public via SPAC in March.
Enterprise Software Trends of 2021
Startups offering processing and management capabilities from utilizing AI and automation to bridging the gaps between varying databases will be a continuing trend
Startups that add value to cloud storage infrastructure capabilities continue to help this category grow
Cybersecurity proved to be more important than ever to help enterprises combat against threats and attacks in the cyberspace
From low to no-code development, software companies are revolutionizing the ability for enterprises to iterate and go-to-market
From supporting logistics to offering platforms to connect clients to services, e-commerce capability providers are experiencing tremendous growth
Payment processing software services was a huge focus of 2020 and financial services leveraging trends in data is a norm
A COVID-19 phenomenon that has pushed enterprises to spend big money to improve workplace productivity and event execution
As companies were forced to transact mostly online during the pandemic, sales enablement software have become a top of mind purchase for companies
|Company||Location||Vertical||Rounds of Funding|
|Bevy||Palo Alto, CA||Workplace Productivity||3|
|Highspot||Seattle, WA||Sales Enablement||7|
|Squire Technologies||New York, NY||E-Commerce||9|
|OutSystems||San Ramon, CA||Low-Code Development||6|
|Cockroach Labs||New York, NY||Infrastructure||6|
This report is current as of the initial date of publication in July 2021 and may be changed by PrivCo at any time. The companies profiled are focused on the U.S. market of privately-owned companies based on their performance including funding rounds, and employee and revenue growth until June 2021.
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