# The Largest SaaS Companies in the World
SaaS, which stands for Software as a Service, is a software delivery model that allows users to access and use software applications over the internet, without the need to install or maintain any local hardware or software. SaaS is one of the main categories of cloud computing services, along with IaaS (Infrastructure as a Service) and PaaS (Platform as a Service).
SaaS has become a popular and prevalent software market, as it provides users with more value, quality, and convenience. According to a report by Gartner, the global SaaS market revenue is expected to reach $140.6 billion in 2022, growing at a compound annual growth rate (CAGR) of 16.4% from 2020 to 2022.
There are many SaaS companies in the world, serving various domains and functions, such as CRM, ERP, e-commerce, collaboration, security, analytics, and more. However, some SaaS companies stand out from the rest, by having the largest market value, revenue, customer base, and influence in the industry.
In this article, we will introduce the top 6 largest SaaS companies in the world, based on their market value as of March 12, 2021. We will also briefly describe their main products, features, and achievements.
## 1. Salesforce ($207.35 billion)
Salesforce is the undisputed leader and pioneer of the SaaS industry, as well as the largest CRM (Customer Relationship Management) platform in the world. Salesforce was founded in 1999 by Marc Benioff, Parker Harris, Dave Moellenhoff, and Frank Dominguez, with the vision of delivering enterprise software as a service, rather than as a product. Salesforce revolutionized the software industry by offering a cloud-based CRM solution that was more accessible, affordable, and scalable than the traditional software licensing model.
Salesforce has grown from a single CRM product to a comprehensive platform that offers various cloud-based solutions for sales, marketing, service, commerce, analytics, platform, integration, and more. Some of the most popular products and brands of Salesforce include Sales Cloud, Marketing Cloud, Service Cloud, Commerce Cloud, Platform, MuleSoft, Tableau, and Slack. Salesforce also has a large and active ecosystem of partners, developers, and customers, who use its AppExchange marketplace, Trailhead learning platform, and various events and communities to create, share, and learn from each other.
Salesforce has been consistently ranked as one of the best places to work, one of the most innovative companies, and one of the most admired companies in the world. In 2020, Salesforce had a revenue of $21.25 billion, a growth of 29% year-over-year, and a customer base of over 150,000.
## 2. ServiceNow ($108.13 billion)
ServiceNow is the second-largest SaaS company in the world, as well as the leading provider of enterprise automation solutions. ServiceNow was founded in 2004 by Fred Luddy, who was a former CTO of Peregrine Systems and Remedy Corporation, two software companies that specialized in IT service management (ITSM). Luddy wanted to create a cloud-based platform that could automate and streamline the workflows and processes of various enterprise functions, such as IT, HR, customer service, security, and more.
ServiceNow has evolved from an ITSM platform to a digital workflow platform that enables enterprises to create great experiences and unlock productivity for their employees and customers. Some of the key products and solutions of ServiceNow include IT Service Management, IT Operations Management, IT Business Management, Customer Service Management, Human Resources Service Delivery, Security Operations, Governance, Risk, and Compliance, and more. ServiceNow also has a robust and flexible platform that allows customers and partners to build and customize their own applications and integrations, using its low-code development tools, APIs, and App Engine.
ServiceNow has been recognized as one of the fastest-growing and most innovative companies in the world, as well as one of the best places to work. In 2020, ServiceNow had a revenue of $4.52 billion, a growth of 31% year-over-year, and a customer base of over 6,900, including 80% of the Fortune 500.
## 3. Square ($99.17 billion)
Square is the third-largest SaaS company in the world, as well as the leading provider of payment and commerce solutions for small and medium-sized businesses (SMBs). Square was founded in 2009 by Jack Dorsey, who is also the co-founder and CEO of Twitter, and Jim McKelvey, who is a serial entrepreneur and glass artist. Dorsey and McKelvey wanted to create a simple and elegant way for anyone to accept credit card payments, using their mobile devices and a small card reader that plugs into the headphone jack.
Square has expanded from a mobile payment solution to a comprehensive commerce ecosystem that offers various products and services for SMBs, such as point-of-sale systems, online stores, invoicing and billing, payroll and employee management, business loans, banking and cash management, and more. Square also has a popular consumer-facing product, called Cash App, which is a mobile app that allows users to send and receive money, buy and sell stocks and bitcoin, get a debit card, and more.
Square has been praised for its elegant design, user-friendly interface, and social impact. In 2020, Square had a revenue of $9.5 billion, a growth of 101% year-over-year, and a seller base of over 2 million, and a Cash App user base of over 36 million.
## 4. Atlassian ($56.57 billion)
Atlassian is the fourth-largest SaaS company in the world, as well as the leading provider of collaboration and productivity tools for software development, project management, and team communication. Atlassian was founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, who were two college friends and classmates at the University of New South Wales in Australia. Cannon-Brookes and Farquhar wanted to create software tools that could help teams work better together, without the hassle of sales, marketing, or licensing.
Atlassian has developed a suite of popular and powerful products that are used by millions of teams and individuals around the world, such as Jira, Confluence, Bitbucket, Trello, Opsgenie, Statuspage, and more. Atlassian also has a vibrant and open ecosystem of partners, developers, and customers, who use its Marketplace, Developer Platform, and Community to create, share, and learn from each other.
Atlassian has been admired for its unique culture, values, and business model, as well as its social and environmental responsibility. In 2020, Atlassian had a revenue of $1.61 billion, a growth of 33% year-over-year, and a customer base of over 182,000.
## 5. Workday ($54.85 billion)
Workday is the fifth-largest SaaS company in the world, as well as the leading provider of cloud-based human capital management (HCM) and enterprise resource planning (ERP) solutions. Workday was founded in 2005 by Dave Duffield and Aneel Bhusri, who were former executives and co-founders of PeopleSoft, a software company that specialized in HCM and ERP solutions, and was acquired by Oracle in 2005. Duffield and Bhusri wanted to create a new generation of cloud-based software that could provide a better user experience, more flexibility, and more innovation than the legacy software.
Workday has delivered a unified platform that offers various cloud-based solutions for HCM, financial management, planning, analytics, and more. Some of the key products and solutions of Workday include Workday Human Capital Management, Workday Financial Management, Workday Adaptive Planning, Workday Prism Analytics, and more. Workday also has a strong and loyal customer community, who use its Customer Center, User Groups, Events, and Blogs to connect, collaborate, and learn from each other.
Workday has been recognized as one of the best places to work, one of the most innovative companies, and one of the most admired companies in the world. In 2020, Workday had a revenue of $3.63 billion, a growth of 28% year-over-year, and a customer base of over 3,200.
## 6. Veeva Systems ($42.41 billion)
Veeva Systems is the sixth-largest SaaS company in the world, as well as the leading provider of cloud-based solutions for the pharmaceutical and life sciences industry. Veeva Systems was founded in 2007 by Peter Gassner, who was a former executive of Salesforce, and Matt Wallach, who was a former executive of Eyetech Pharmaceuticals. Gassner and Wallach wanted to create a cloud-based platform that could address the specific needs and challenges of the pharmaceutical and life sciences industry, such as regulatory compliance, data quality, and customer engagement.
Veeva Systems has developed a portfolio of cloud-based products and solutions that cover various aspects of the pharmaceutical and life sciences industry, such as clinical, regulatory, quality, safety, commercial, and data. Some of the key products and solutions of Veeva Systems include Veeva CRM
