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Business to business software as a service (B2B SaaS) is back in the spotlight once again. Salesforce’s acquisition of Slack in a $27.7bn megadeal, only 7 years after Slack was founded, is a great example of the enormous potential of the space – get the product right and you’ve got the daily attention of thousands of office employees who rely on your service to do their jobs.
This is what Wurkr have managed to achieve – specifically grabbing the attention of 60,000 employees in 1,500 companies… and they’ve only just celebrated their third birthday. This rise has been accelerated somewhat by the remote-working revolution prompted by the COVID pandemic, and Wurkr have achieved 1,000% growth in subscribers since March 2020.
Last year, SaaS fundraises saw over 10x growth in the UK compared to 2010 levels, according to Beauhurst, but the most interesting stage for the sector may still be yet to come. 2020 has proven that remote work is more feasible for businesses of all kinds than ever before. Video calls, project collaboration tools, CRM software and chat platforms that were initially resourced out of necessity, have become part of the daily rituals of millions of employees worldwide. Even when the urgency of remote work subsides, many companies will likely continue to reap the rewards, and low overhead costs of remote productivity, which will be a significant boon to emerging enterprise software companies.
“The B2B SaaS sector, in particular video applications, has seen enormous growth and attention due to the influx of everyone being forced to work from home. Like others, Wurkr has seen phenomenal growth with companies adopting video technology faster than ever before” – Annil Chandel, Co-Founder and CEO of Wurkr.
Only a handful of SaaS businesses have crowdfunded, and many of those have shown significant growth trajectories over time. Our latest Portfolio Update indicated that SaaS businesses raising via Seedrs produced a higher IRR on average than any other sector.*
As we move into 2021, and businesses continue to adapt the way they work, SaaS will remain a space to watch.
To find out more about Wurkr, and the investment opportunity, visit the pitch now.
*Please note that past performance is not a reliable indicator of future results.