A report compiled by iSpirit now states, that the total valuation of India’s top 30 enterprise software product companies is touching $10.25 billion. The number of employees at these companies also grew by 18 percent to 21,200 employees.
The report is based on an index called iSPIxB2B. It comprises of top 30 software product companies in India and their valuations. The report also states that the enterprises are shifting from services heavy offerings to products-heavy offerings.
Out of the 30 companies, majority of the companies (around 80%) are focused on the global market while the rest are looking to tap into the Indian market. Companies include Knowlarity, Freshdesk, InMobi, etc. Around 67% of the companies are domiciled in India but since 2009, the companies have started incorporating in the US and Singapore.
The report reveals another interesting and rather motivating fact. About 43 percent companies are bootstrapped with no external financing taken at any stage. Most institutionally-funded companies on the other hand, got growth financing, rather than early-stage venture capital financing. The report is dominated by companies from Delhi, followed by Bengaluru, Chennai, Pune, Mumbai and other cities.
Also, 53.3% of the companies provide end-user business applications in CRM, trading, collaboration, business intelligence and banking while 23.3% are advertising technology companies. Other 23% are providing enabling technology in infrastructure and tools.