Exciting VC Funded SaaS Startups to Watch In 2022
Author: Cory Maki
Many SaaS companies have entered the market in the past few years, even going back through the last decade. These companies offer all sorts of disruptive software services spanning every industry. Because of that, venture capital firms are partial to investing in SaaS startups, with each one looking for the next big thing.
The investments have paid off for many of the firms, leading to further interest. In fact, many of the largest firms are focusing on SaaS companies. If you want to learn about some of the up-and-coming SaaS startups that have received VC funding, keep reading.
Erudit AI
Erudit AI is a startup out of Miami, Florida, that uses the latest technologies to provide companies with valuable analytics. Namely, the company uses AI to deliver People Analytics about a workforce. It makes it easy for a company to track the well-being of their workforce, focusing on metrics such as:
Burnout Risk
Engagement
Turnover Risk
Moreover, the software is capable of detecting trends and giving insights into what is causing issues within the workforce. The true value is in how quickly the platform picks up the data and analyzes it. Using Erudit AI, companies can know what issues they need to reach out about and even which require extra care.
Erudit AI also plugs into work productivity tools, such as Google Workspace, Slack, Zoom, and Microsoft Teams. Not only is it easy to set up, but it is highly effective. The company also has strict data and privacy protection, keeping individual information and metrics anonymous, ensuring the data is only used to understand the overall concerns.
While the company is still in the seed funding stage, many groups are paying attention to it. Two such groups are Encomenda VC and Draper B1, two venture capital firms. The total amount of funding received since its founding in September 2019 is around $5 million, with $3.5 million invested in January 2022.
Linktree
In a world where effective marketing relies on exposure on multiple platforms, Linktree provides a valuable service. With Linktree, people, influencers, and companies can use a single link for all of their social media platforms. Moreover, the link leads to a customizable page that includes some useful analytics to track clicks and more.
Linktree offers four tiers, starting with its free tier, which gives unlimited access to the basics forever. There are also starter, pro, and premium packages, which are $5, $9, and $24 per month. They also get cheaper if you buy a yearly plan. Each comes with its own advantage:
Free: Gives access to unlimited links and basic customization
Starter: Offers more control and customization of the page to drive traffic
Pro: Embedding, email and phone number collection, and more analytics
Premium: Superior monetization, data export, and a custom success manager
The packages are targeted at different needs. Someone just looking to get their links in one place can use the free package. Pro is ideal for influences or those who want to add their own flavor to their page. Finally, pro and premium are targeted at those looking to strengthen their brand or monetize their business.
Linktree operates out of Australia and has undergone two rounds of funding. Its latest round of funding occurred in 2021, where it raised $45 million from various groups. Investors included Insight Partners and Index Ventures.
ClickUp
Productivity is key in any workplace, and ClickUp is a tool that offers just that. Founded in 2017, the company offers a customizable workplace productivity platform. It can take care of everything necessary to boost performance across multiple departments. Some of what ClickUp allows its users to do includes:
Plan, track, and manage work using the flexible platform
Utilize its built-in chat as individuals and groups to work more efficiently
Set and track various goals that progress in real-time
Work with various views to get a more customizable experience
The different functions of the platform can take the place of various other applications, allowing productivity to be condensed into one place. Moreover, with powerful dashboards, whiteboards, and documents, it becomes easy to pick a style that works for a specific team or project.
ClickUp also makes it easy for clients to import from other sources, work on any device, and integrate with other platforms. There is even a built-in automation feature. And the best part is that there is a plan suitable for any team size, even if you only need a productivity tool for yourself.
ClickUp’s latest round of funding occurred in October 2021, and it included venture capital firms like Meritech Capital Partners and Lightspeed Venture Partners. In total, ClickUp has received over $530 million in funding since its founding.
Klaviyo
One of the most important tools in marketing is email, while SMS is quickly growing in popularity as well. Klaviyo takes care of both of those things, automating marketing for ecommerce. While it might not be the youngest startup on the list, it certainly stands out. The company’s software helps clients by:
Offering automation and personalization to SMS and email marketing
Assisting them in targeting the right people to help them grow
Turning data into tailor-made experiences for customers
Providing easy-to-use APIs to improve integration
Klaviyo prices its software based on the needs of individual clients. For those who only need something small, a free option is available. While it is limited in terms of contacts and messages per month, it is a great way to see how it works. For everyone else, there is a tool on their website that estimates the cost per month.
The company allows clients to utilize their services for email, SMS, or both. While there are no discounts for packing them together, they can be monitored using a single interface. It also makes it easy to control how you contact customers based on their preferences.
Founded in 2012, Klaviyo is still growing quickly. In fact, over the past five years, it received a sizable increase in online searches. Moreover, investments have continued to flow in for the startup. In May 2021, Klaviyo received its most recent round of funding, receiving investments from Sands Capital, Lone Pine Capital, and more.
airfocus
Founded in 2018, airfocus provides a unique modular product management platform that is customizable to fit a company’s needs. It allows users to build, run, and scale their workflow. More than that, they can do all of it on a single platform designed to be easy to use and very effective.
Roadmapping is one of the primary uses of the platform. It is set up to allow users to build dynamic roadmaps that focus on outcomes and team objectives. Multiple roadmaps can even be consolidated into a portfolio view to get an overall picture of where things are at.
Additionally, airfocus makes it easy to prioritize outcomes and objectives on the platform. It even provides a space to centralize feedback, making it a one-stop-shop for gathering everything you need to do and think about. Overall, it is a flexible platform that adapts to your needs and prevents you from needing multiple solutions.
The company relies on monthly payments to make money on their software, offering a variety of packages from $15 a month to custom enterprise options. The different levels increase the features included, while the enterprise level adds advanced security to ensure everything runs smoothly.
While airfocus is relatively young, investors have already shown interest. The most recent investments came in 2021 when XAnge and Nauta Capital invested a collective $5 million into the company during the Series A round.
Passbase
There are a variety of services out there, but few tackle as important a problem as Passbase. Passbase provides security solutions for brands who want an easy way to verify their customer’s identities. The verification is done with automated identity checks that access over 6000 types of identity documents from more than 190 countries.
Passbase’s software also allows for quick authentication for returning customers. It does this using selfies, not requiring a password to verify the user. Moreover, the advanced security measures are available on multiple platforms through:
iOS SDKs
Android SDKs
An API
Webhooks
Additionally, Passbase’s facial recognition goes above and beyond to prevent fraud. It starts with incredible NIST face comparison technology that builds 3D face matches. Passbase also utilizes liveness detection to ensure users are physically present during the verification process. It is even possible to build in further checks as needed.
Founded in 2018, Passbase is located in Berlin, Germany. The company has already seen a decent amount of success, including pulling in almost $18 million in four rounds of funding. The latest round saw various venture capital firms investing in Passbase, including Cowboy Ventures and Costanoa Ventures.
lemlist
Another SaaS solution to email marketing is lemlist, which claims to be an all-in-one outbound solution. What that means is that lemlist is designed to solve outreach automation challenges for any size company. Moreover, they do while providing valuable features such as:
Personalized emails that increase reply rates with every prospect
Automated follow-ups that do not feel generic and create opportunities
A sales engagement platform to reach out through multiple channels
Increased open rates and fewer messages in spam due to lemwarm
The platform is fantastic for building a healthy, effective communication system that customers appreciate. It also integrates with email providers and customer relationship management tools. Moreover, email verification tools, Google Sheets, Calendly, and more work with lemlist.
Included in the service are templates. There are more than 100 high-quality templates that come from in-depth analysis of what works. There are multiple packages to choose from, with even the most basic choice helping users stay out of spam folders and increase their open rates.
Although founded in 2018, this SaaS startup only received its first round of public funding in 2021. The investor, Expedition Growth Capital, put $30 million into the company. It is definitely one to keep an eye out in a world eager for SaaS startups.
Mighty Networks
This Palo Alto, California startup looks to provide community-building software to help creators nurture their followers. However, it is not limited to creators and influencers, with the platform making it simple for people or companies to power their business with their community. Some of the things people can accomplish with a Might Network are:
Building a community around an event or course
Bringing social media followers to a unique space
Hosting regular events or meetings
Livestreaming on the platform
Moreover, using the platform, users can charge others who wish to participate in these things. That makes it easy to build a course or host a paid event without the hassle of going through a bunch of hoops. With Might Networks, everything is put together in one user-friendly place.
Additionally, the higher-tiered plans include in-depth analytics. It will allow users to get useful information, especially when it comes to building communities or creating courses and other content. Therefore, users can focus on the content and nurturing the community when using the platform.
Mighty Networks started its operation in 2017, and since then, it has raised around $66 million in funding. The most recent round of funding occurred in 2021, where investors like Owl Ventures and Great Oaks Venture Capital contributed. Mighty Networks is a powerful SaaS startup expected to grow in 2022.
FUSE Autotech
FUSE is a lot of things, including a rising star in the SaaS market. The company only started operation in the middle of 2020, and it has managed to weather the storm and continue strong. But it makes sense when you consider what FUSE is looking to accomplish: making it easier to finance a vehicle.
While that might be oversimplifying it a bit, FUSE is impressive. It makes transactions easy, allowing them to take place anywhere. It can even be a way to take care of the initial steps of the process before reaching a dealer, then completing the rest of the transaction there. Ultimately, it can lead to:
More transparency when purchasing a vehicle
Less time spent waiting or talking before a decision is made
A better customer experience
Lower cost to sell
Not only does it make the entire process smooth, but it gives customers all of their options. That includes vehicles, which they might have missed using a less cohesive platform. It also means knowing all of their financing options, where they can compare and feel confident in the deal they are getting. That, in turn, can lead to more sales.
Since its founding, FUSE has only seen two funding rounds. The company raised a total of around $13.5 million, with $10 million of that coming from its most recent Series A funding. The main investors of the latest round include Target Global and PICO Venture Partners, two venture capital firms.
Printify
Dropshipping is a great way for small businesses to shed the hassle of storing and shipping items. Printify takes it to the next level by also stepping in and helping with the design process. More precisely, they provide the products and mockups needed for users to create customized products easily. It works like this:
Users pick items from a catalog that contains more than 300 products
The mockup generator applies custom designs to the chosen products
Samples are sent to ensure they are exactly as imagined
The products can be published and sold
After quality control is taken care of, the products are shipped
Every aspect of the process is handled using Printify. All users have to do is apply the designs they want and then work toward building their business. Moreover, for those just starting out, the basic version of Printify is free. For larger clients, a monthly fee is imposed, though it does come with more features.
The only potential downside of Printify is that the company works with many third-party vendors, making quality control more difficult. However, that has not stopped the company from expanding its printing network and finding success.
Founded in 2015, Printify has proven a valuable SaaS startup. The company has even managed to gather more than $55 million in funding over seven rounds. The latest funding, which occurred at the end of 2021, included many investors, including Eastward Capital Partners.
InVideo
Videos are incredibly popular, sitting at the peak of consumed media in the US. They are great tools for creators, marketers, and anyone who wants to capture an audience’s attention. Because of that, InVideo stands out as a promising SaaS startup. Not only is it a powerful video editor, but it includes a ton of extras, including:
More than 5,000 templates
The full iStock media library
A music library
Filters and transitions
InVideo offers everything needed to pull a video together. Moreover, it does so in a way that is easy and user-friendly. There are even multiple options, ranging from templates and completely customized videos to AI-powered themes that help users convert text content to video content in a few easy steps.
To truly get everything that InVideo offers, users must sign up for one of their paid monthly plans. There are three options: the free version, a business version, and an unlimited package. Therefore, it is entirely capable of adjusting to a user’s needs.
Video is lucrative, so it is no surprise that InVideo has seen decent success since its beginning in 2017. Investors include Sequoia Capital India, Base Partners, and Hummingbird Ventures.
Final Thoughts
SaaS companies have become massive in the last decade due to their flexibility and appealing business model. Moreover, they exist in every industry and are only continuing to spread. While this might be why SaaS startups are considered prime targets for VC firms, it is also a good reason to keep an eye on them.
Article courtesy of our content partner site Grit Daily