Main Software 50 edition 2020


Key statistics

Main Software 50 edition 2020


+21%

Total revenue

23%

Median revenue growth

50%

SaaS revenue

22%

International revenue

9%

Partner revenue

+15%

Total number of employees

138k

Revenue per FTE

List

Main Software 50 edition 2020


Ranking
Name
Sector
Winner
Score
Established
Place
1 Uptrends Web en server performance monitoring service Overall 1 100.0 2007 Alphen a/d Rijn
2 Enovation Healthcare Software Overall 2 97.2 1983 Capelle a/d Ijsel
3 Textkernel Human Resource Software Overall 3 97.0 2001 Amsterdam
4 WoodWing Publishing software 96.2 2000 Zaandam
5 Management Drives Performance Management 95.7 2001 Zeist
6 Conxillium Content Management Systems 95.3 2015 Leiden
7 Recruitee Human Resource Management (HRM) 95.0 2015 Amsterdam
8 E-WISE Education Software Cloud champion 94.9 1999 Utrecht
9 Convious E-Commerce Software Highest growth 94.9 2017 Amsterdam
10 OBI4wan Customer Relations Management (CRM) 94.2 2011 Zaandam
11 Cow Hills Retail Omnichannel Retail Software 94.0 2005 Maarn
12 Icecat E-Commerce Software 93.1 1999 Nieuwegein
13 OutSmart Facilities Management 92.2 2012 Nieuwegein
14 Sana Commerce E-Commerce Software 91.9 2008 Rotterdam
15 Sqills Group Business Process Management (BPM) 90.9 2005 Enschede
16 Advisie Financial & Accounting Software 90.2 1983 Eemnes
17 Otherside Software Enterprise Resource Planning (ERP) 89.9 2003 Den Bosch
18 GOconnectIT Geographic Information System (GIS) 88.9 2001 Nieuwegein
19 Optimizers Supply Chain Management (SCM) 88.7 2006 Nijkerk
20 Blue Billywig Video Management Software (VMS) 88.4 2006 Hilversum
21 Dyflexis Workforce Management 88.3 2010 Den Haag
22 SDB Groep Healthcare Software 88.2 1976 Den Haag
23 Yellow Star Solutions Supply Chain Management (SCM) 88.2 2009 Barendrecht
24 FleetGO Group Fleet Management 87.2 2010 Hattem
25 Codelogic Dialogue Management Software 87.0 2007 Beverwijk
26 FIQAS Software Financial & Accounting Software 86.9 1989 Aalsmeer
27 Wonderkind Talent Attraction Technology 86.1 2016 Amsterdam
28 BlueRock Logistics Transport Management Software 85.6 2013 Den Bosch
29 Mavim Business Process Management (BPM) 85.5 1990 Noordwijk
30 Speakap Employee Communications Platform 85.5 2011 Amsterdam
31 Gripp Financial & Accounting Software 85.3 2012 Tilburg
32 GAV.International Online Business Software 85.2 1987 Woerden
33 12Build Project Management Software 85.1 2007 Nijverdal
34 Copernica Marketing Automation 85.1 2001 Amsterdam
35 Pegamento Artificial Intelligence 84.9 2009 Zeist
36 go2UBL Financial & Accounting Software 84.8 2014 Beverwijk
37 Relyon Field Service Management 84.0 2001 Nootdorp
38 Ternair Marketing Automation 83.9 2006 Ijsselstein
39 XVR Simulation Simulation Software 83.2 2001 Delft
40 Vendit Omnichannel Retail Software 83.2 1986 Rotterdam
41 Zenz Technologies Business Intelligence 81.6 2013 Amsterdam
42 Spatial Eye Geographic Information System (GIS) 81.6 2005 Culemborg
43 EesySoft Software International Education Software 81.3 2011 Amsterdam
44 Drillster E-Learning Platform 81.2 2011 Utrecht
45 Avinty Healthcare Software 81.0 2016 Oldenzaal
46 4PS Enterprise Resource Planning (ERP) 79.8 2000 Ede
47 FRISS Governance Risk & Compliance (GRC) 79.7 2006 Utrecht
48 Adver-Online Human Resource Management (HRM) 78.6 2002 Heemstede
49 Naris Governance Risk & Compliance (GRC) 77.7 2000 Enschede
50 MendriX Supply Chain Management (SCM) 77.2 2003 Maarssen

 

Revenue growth

Total revenue grew from EUR 371m in 2018 to EUR 450,5m in 2019 at a growth rate of 21%. Recurring revenue o represented 68% of total revenue in 2019. Even amidst the current COVID-19 situation, Main Software 50 participants are optimistic about the future, with a stunning 42% of the Main Software top 50 companies still expecting to realize year-on-year topline growth of more than 20% in the upcoming two years.

Employment and productivity

Total 2019 FTE count amounted to 3.236, representing a 15% increase relative to last year. Interestingly, the revenue generated per FTE grew by 5% over the course of the year to EUR 138k per FTE. This productivity figure is considerably higher than that of the participating companies of last year’s edition.

International success

Dutch software companies consistently prove to be highly qualified to internationalize its presence; on average 22% of total revenues generated by the top 50 companies is generated from outside of The Netherlands in 2019.

Profitability

The large majority of the top 50 participating software companies follow a profitable growth strategy. 66% of the top 50 companies have realized a an EBITDA margin of more than 10%. More than 24% of the top 50 companies were even able to realize an EBITDA margin of more than 20%.

Innovation

The top 50 participating software companies show continued investments in software development to stay innovative in this competitive environment. A stunning 90% of all participants indicated to have invested more than 10% of their annual revenue back into R&D to drive future growth.

M&A

Unsurprisingly, the top 50 Dutch software companies appear to be interesting investment opportunities for both strategic and financial investors. Out of the 50 finalists of last year’s edition, 6 companies were acquired within 12 months after publication of the list. In addition to sell-side M&A, a substantial number of companies in the yearly Main Software 50 ranking choose to further accelerate their topline growth as well as build out their product portfolio’s through strategic acquisitions of other software companies.

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Partners

The Main Software 50 is an initiative of Main Capital Partners