Software companies led by entrepreneurs with experience in building successful software-as-a-service (SaaS) organizations are thriving. They as much as double revenue growth year-over-year, a new software industry report finds.
In other words, those in their second or third rodeos in SaaS software fare well.
The findings are reported in this month’s 2014 Software & SaaS Financial Benchmarking Industry Report, the eighth annual study produced by Boston-based OPEXEngine in conjunction with the Software & Information Industry Association (SIIA).
"Far more well-funded, venture-backed, companies are hitting their stride with growth rates of 50 percent to 100 percent year over year, than ever before," Lauren Kelley, CEO and founder of OPEXEngine, told CMSWire. "Many of these companies are being established by entrepreneurs who have already built one or two, sometimes three, SaaS companies before, and managed by executives with equivalent experience. These executives can get a new company up and running far faster than five or 10 years ago when SaaS was a new management discipline."