Top 10 Startups: London’s most valuable SaaS companies

Josh Peachey's picture

Following our successful Top 10 in Tech series on Prolific London, we’re continuing by looking at different types of startups born in London.

This week, we’re specifically looking at startups who use ‘Software as a Service’ or SaaS for short, as a business model. This model means that the company, or provider, hosts applications and makes them available to users over the internet, usually for a fee.

For the purposes of these lists, the startups have all been founded in the last 10 years and the order is based on valuations of companies at the time of writing.

Credit must go to Tech Nation’s Data Commons for providing the data for this list. Let's see who makes the top 10...

1. Improbable

Also the most valuable startup on our Top 10 in Tech: Gaming list, Improbable’s dominance here reflects how valuable the gaming market truly is. 

Improbable acts as a platform for game developers to create AI-powered simulated worlds. 

Founded: 2012
Value: At least £1.6 billion

2. Rapyd

Rapyd helps businesses and their customers pay and be paid however they choose. Their FinTech-as-a-service platform enables any payment type for in-country or cross-border commerce, seamlessly integrating local payment methods like bank transfers, e-wallets, or cash into digital applications from a single API.

Founded: 2016
Value: At least £312 million

3. VE Global

VE’s services are designed for eCommerce businesses that want to find and grow their audience, convert more customers and optimise marketing spend. 

Their clients include Liverpool FC, Claire’s, Manchester Metropolitan Universite, HP and Vodafone. 

Founded: 2009
Value: £300 million

4. Behavox

Behavox uses AI to make companies smarter, more secure and more successful, describing itself as a ‘peoples analytics’ company. The founders believe that the best discoveries lie deep within your data and that their AI can help give it context and understand its meaning. 

Founded: 2014
Value: At least £218 million

5. Snyk

As previously featured in our Top 10 in Tech: Security list, this startup, designed for developers, enables users to detect, fix, and prevent known vulnerabilities in third-party code modules. 
Over 300,000 developers use Snyk to find, and more importantly fix known vulnerabilities in open source. Companies like Skyscanner, Google, Microsoft and The Guardian all make use of Snyk.

Founded: 2015
Value: At least £218 million

6. Netsparker

Netsparker is a scalable, multi-user web application security solution with built-in workflow and reporting tools ideal for security teams. It’s available as a hosted and self-hosted solution and can be fully integrated into any development or testing environment. 

The company uses its proprietary Proof-Based-Scanning technology to automatically verify false positives and save users considerable time.  

Founded: 2009
Value: At least £218 million

7. Soldo

An online solution to help you manage company spending, allocate pre-paid cards. Available as Soldo Start for £0, Soldo Pro for £4 per card per month, and Premium for £7 per card per month - the options range in number of useful expense management tools.

Founded: 2014
Value: At least £186 million

8. UKCloud

UKCloud provide cloud migration services for UK public sector organisations. Their mission is to help organisations, such as the Home Office and the Department for Work and Pensions, transform to become more agile and deliver better digital services. 

Their platform brings together technology stacks from Cisco, Dell EMC, Microsoft, Oracle, Red Hat and VMware.

Founded: 2012
Value: At least £175 million

9. Receipt Bank

An online productivity tool to help automate bookkeeping for accountants. The service promises easy automation for collecting, processing and publishing receipts and invoices. Other functions include foreign currency support, flexible data export and automated submission reminders.

Founded: 2010
Value: At least £155 million

10. Currencycloud

Cross border payments as a service! Currencycloud is a cloud-based platform that removes the complexity of international payments for businesses so they can focus on delivering a great experience for their customers.

Founded: 2012
Value: at least £128 million