• Dev Khare

    iSPIRT now Tracking the Size and Growth of the Indian B2B Software Products Industry through iSPIxB2B Index(Oct ’14 Edition)

    iSPIX-b2bWe believe the discussion about India’s technology industry – whether in government circles, the media or in Silicon Valley – overlooks India’s B2B software product companies which sell globally as well as into India. Instead, there is a lot of discussion about IT Services companies and E-commerce players.

    We would like to shine a spotlight on these Indian B2B software products companies through the India Software Products Industry Index – B2B (iSPIxB2B), which we are launching today. The index tracks the thirty most valuable B2B software product companies headquartered in India and companies headquartered elsewhere in the world where cofounders are in India right from the creation of the company onwards.

    The data suggests that the B2B software product industry has been growing nicely outside of the spotlight – the enterprise value of the top 30 companies is $6.2 billion (₹37,500 crores) which is higher than we would have imagined before starting out on this effort.  The top 30 companies employ over 18,000 people.

    iSPIx-B2BAnd the top thirty companies in alphabetical order are:

    We have descriptions of the top thirty companies, aggregate statistics and methodology for computing the index in the report itself. We’ve pulled out a couple of the findings here:

         For those companies started pre-2006 (50% of the list), they were generally bootstrapped to scale and then about 40% of these companies raised growth capital. These companies are mainly domiciled in India and many are verticalized, selling into banking, financial services, retail and travel.

    –     For those companies started post-2006 (50% of the list), about 73% have got early-stage venture capital into them now – the majority by far are not bootstrapped. 50% are domiciled in the US or Singapore and many more are horizontally focused in areas such as CRM, collaboration and ad-tech.

    We will publish an updated iSPIxB2B index every six months – please do send us names of companies you think should make this list and we will make sure to contact them. In the meantime, please share this document with your colleagues in the software industry and participate in the discussion around these findings in the comments section here.

    Thanks to all the volunteers at iSPIRT who worked on this project as well as Professor Sharique Hasan of Stanford Graduate School of Busines, Stanford Univerity; Professor Rishi Krishnan of IIM-Indore; and Klaas Oskam of Signal Hill for providing input and guidance.

    We will publish an updated iSPIxB2B index every six months – please do send us (at ispix(at)ispirt.in) names of companies you think should make this list and we will make sure to contact them.

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    • http://www.emportant.com/ Sandeep Todi

      Just read through the iSPI index and it comes across as a fundamentally new way of looking at the software product industry. The survey highlights the contours of pre-2000 and post-2000 era startups very lucidly. Most interesting is how Startups founded after 2000 have tended to be horizontally focused, more likely to be HQ’d overseas and gone for early stage funding.

      Salute to the iSPIRT team that put it together!

    • à la mode Hindu

      Congratulations guys…its time we get out of the slave mindset (service companies) and become a world leader!!

    • Muthu Ranganathan

      Time for Indian fraternity to start taking B2B serious, there is too much focus on B2C and building a new facebook/google/amazon etc…but there is huge opportunity on the other side. We have top functional /industry expertise talent coming in from the Services companies. It would be great to create.

      This data only proves the opportunity.
      Thanks for this great compilation.

    • Soundararajan Ethirajan

      Great work iSPRIT. It shows how much of latent potential exists in the country. After the stellar growth of software services industry, it is time that our prowess in developing software products takes the centre stage. Over time, cost arbitrage, as a competitive advantage, in the services industry is bound to be eroded. And as a country, if we are to retain the toe hold in the global market, the next shining star is the products. With trillions of dollars being spent YoY in government and social programmes, it will make both business and social sense to develop G2C s/w products which can be made available on SaaS platform. Hope we could see more activities also in this domain in the coming years.

    • prashant

      I see some manjor names missing from pune in B2B engineering products…. Geoemtric, Crane software

      • productnation

        Prashant, We were not able to get the data from both of the companies. If you have any connects with the above two companies, please do let us know.

        Thanks. Avinash
        On Behalf of the iSPIX team

    • http://www.facebook.com/jketan Ketan Jain

      Good Work!

    Nov, 10
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