Until half a decade ago, horizontal SaaS was all the rage in the SaaS world. With the saturation of the Horizontal SaaS market and the popularity of niche-specific solutions, we’re now witnessing a boom in the Vertical SaaS industry. With a head start on competitors, Vertical SaaS companies have quadrupled in the past few years, even with a raging global pandemic, and set the standard for the industry. Let’s take a look at what Vertical SaaS is and the top 10 Vertical SaaS companies of 2022 -
What is Vertical SaaS?
SaaS (Software as a Service) companies can be divided into two primary categories - Horizontal SaaS and Vertical SaaS. While Horizontal SaaS is a distribution model where the SaaS product caters to the needs of a wide range of industries (for example Slack), Vertical SaaS companies are interested in creating niche-specific software solutions.
For example - a patient appointment scheduler fulfils a specific need of the healthcare industry. Vertical SaaS companies zero down on these pain points and provide industry-specific solutions (for example Riskalyze).
Benefits of Vertical SaaS
- Offers better and industry-specific integrations
- Tailored products guarantee higher conversions and higher returns on investments.
- A smaller, more reliable lead pool means lower CAC and more personal referrals.
- Head start over competitors and valuable insights from industry experts
- Better upgrades and Scalability
Also read: What is Vertical SaaS and Why It's The Future of SaaS?
Top Vertical SaaS Companies of 2022
Vertical SaaS solutions are built by industry experts with years of insights into industry problems and how to solve them. Vertical SaaS has grown massively in the past decade, and as more and more industries shift to the digital space, it shows no signs of slowing down. Let’s take a look at the top 10 Vertical SaaS companies of 2022-
1. Riskalyze
Founded in 2011, Riskalyze is a Vertical SaaS product built for financial advisors in the United States. The software helps advisors deliver 401(k) plans, analyze investment risks, and build and implement investment portfolios. With their “Risk number” alignment tool, financial advisors can measure risk capacity and tolerance and portfolio risk (on a scale from 1-99). In 2021, Riskalyze recapitalized with Hg Capital and is now one of the top Vertical SaaS companies.
2. Applied Epic
Built for the insurance industry, Applied epic is a cloud-based software that helps independent insurance agencies automate their processes. With this software, agencies can manage properties, sales, and revenue in an individual dashboard. It also helps with revenue motorization, customer service deliveries, integrated group texting, and data control.
3. Clear Care
Another leading Vertical SaaS company, Clear care, is a Customer Relationship Management (CRM) software for Home care agencies. It helps agencies with electronic health care records (including e-charts, e-prescriptions, and fully automatic labs). The software also provides agencies with a patient portal that has an account of all the information about a patient. The software is available for both Desktop and mobile phones.
4. Textura
Built for the construction industry, Textura provides Payment management and contract services. The tool helps construction companies stay within their budget and project timeline, along with online workflows and e-signatures. Its cloud solutions are furnished in a consumption model optimized for engineering and construction companies. In its time as a vertical SaaS company, Textura has catered to more than 85,000 contractors and subcontractors.
5. Procore
Another vertical SaaS for the construction industry, Procore, specializes in project management. The app lets you access, edit, and design drawings, plans, spec sheets, etc., anywhere at any time. It is also great for issue tracking, bidding, scheduling, and planning. Contractors can also access different subjects to work on without losing any sheets. In September 2021, Procore acquired Levelset and is well on its way to being one of the most successful Vertical SaaS companies of 2022.
6. Venga
Venga is a customer management tool built for the restaurant and fitness industries. It uses collected data and provides insights into customer preferences and habits of restaurants. In 2019, Venga was acquired by OpenTable, making it a part of one of the largest dining networks to attract diners, manage establishment reputation, streamline operations, and drive repeat visits.
7. Infor
Infor is a business cloud service provider with industry-specific capabilities for multiple industries. One of its prime features is the ability to turn your specific industry suite into a cloud format. Infor integrates data science with efficient technology to provide a customer-centred experience. All of their services are ERP simplified along with world-class security.
8. Thapos
Built for the sports industry, Thapos is a vertical SaaS company that works with players, associations, coaches, clubs, and leagues. The tool is also available as an app where players can monitor and manage their payments and registrations and schedule matches. Thapos has catered to more than 125 organizations, 7,500 teams, 1,15,000 players, and 8000 coaches.
9. HotSchedules
Another Vertical SaaS for the restaurant industry, the HotSchedules app, is primarily an employee scheduling and communication tool. Team members can release, pick, and swap with one click. The app also helps with automatic shift pick-ups when employees want more shifts and automatic time-offs when they don’t. It also allows restaurants to keep track of inventory, stock management, talent development, forecasting, and staff management.
10. Veeva
Veeva is a Vertical SaaS company that provides industry-specific cloud-based solutions and manages other critical functions. Companies of different scales can bring out their products quickly and efficiently with the help of Veeva. It also helps companies get commercial integrations, along with multichannel CRM. Veeva can also be great for companies looking for collaboration and compliance with sponsors.
And that’s a wrap on the top 10 Vertical SaaS companies of 2022! With the increasing popularity of Vertical SaaS, we’re witnessing more and more stellar niche-specific solutions. Let us know what you think about Vertical SaaS and its future!
