SaaS kept its steady #24 spot in August and was up 46% in mention volume year-over-year from 33,560 stories to 49,127.
SaaS businesses continue to generate increased revenues and funding, fueled by growing digital transformation efforts. In its Q2 2021 earnings, VMware reported continued growth of its cloud-delivered software with its subscription and SaaS revenue topping $776 million in Q2 and an annual recurring revenue of $3.15 billion (a 26% increase compared to last year). SaaS platform Postman, with dual headquarters in San Francisco and Bengaluru, reached $430 million in total funding after its Series D round in August, making it the, “highest valued VC funded-SaaS startup in India.”
One problem emerging from the rising amounts of SaaS data is that much of the data is going unmanaged, creating a problematic security risk. According TechRadar’s coverage of DoControl’s “Quantifying the immense risk of unmanaged SaaS data access” report released in August, “approximately 40% of all SaaS assets are going fully unmanaged.” This is a problem given the accelerated rise of SaaS applications since the pandemic. These applications enable collaboration in our highly distributed world, but a common thread will be how to effectively manage and secure the data and assets being generated. These concerns and considerations will continue to be top of mind for technology executives and media.