SaaS (Software as a service) companies founded by Indian entrepreneurs are poised to reach between $18 to $20 billion in revenue, with the potential to capture a 7 to 9 percent share of the global SaaS market by 2022, according to a new report by Bain & Company titled, “India SaaS Report 2020 – an insight into the India SaaS ecosystem and the future roadmap for founders and investors”, released today. The report analysed a wide range of Indian SaaS companies, which have since 2010, evolved from the rise of a few upstarts to a multibillion dollar industry today. Acclaimed first-gen founders, such as Sridhar Vembu of Zoho and Girish Mathrubootham of Freshworks, have played a pivotal role in India’s SaaS journey by actively engaging to build a community of budding entrepreneurs, which led to the development of many new ventures and immense job creation. Over the last five years in India, the number of funded SaaS companies has doubled while companies drawing Series C or later stage capital have quadrupled.