SaaS heats up in revenue and hiring

Things are looking up for small and midsize software and SaaS companies, both financially and in job growth, according to a newly released report.

The Software and SaaS Industry Report and Benchmarks 2015, compiled by benchmark services company Opexengine and the SIIA (Software and Information Industry Association) and released Sept. 10, was based on a survey of more than 100 business-to-business software and SaaS companies with revenues between $3 million to $300 million; 78 percent of the participants were private companies.

"This year, both private and public software and SaaS companies recorded strong revenue growth rate overall," the report states. "The leading companies in the 2015 benchmarking -- the top 25 percent by annual revenue growth -- reported topline gains of almost 150 percent [in 2014 compared to 2013]. This same quartile of top producers reported annual revenue gains of 100 percent last year." Private firms saw annual growth of 55 percent in 2014.

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