Top 17 PaaS Companies & Startups (2024)
In 2024, global Platform as a Service (PaaS) market revenue is expected to reach $143.3 billion. This number is projected to reach $244.1 billion by 2028, growing at a 14.24% CAGR.
According to Gartner, increased reliability and adoption of cloud-based solutions are primary growth drivers for PaaS providers. In fact, global public cloud spending reached $600 billion in 2023.
Below is our list of some of the top PaaS companies driving innovation in 2024.
1. Adalo
5-year search growth: 4,150%
Search growth status: Regular
Year founded: 2018
Location: St Louis, Missouri
Funding: $9.8M (Series A)
What they do: Adalo is a no-code app platform that allows users to create mobile and web applications using a drag-and-drop editor. The company recently released its newest update, Adalo 2.0, which includes more integrations and universal publishing to create responsive apps that work on all platforms (web, native iOS, or Android). In 2023, the startup reached 1+ million makers on the platform.
2. Vercel
5-year search growth: 4,900%
Search growth status: Exploding
Year founded: 2015
Location: Covina, California
Funding: $565M (Series E)
What they do: Vercel is a front-end cloud platform for engineers running and deploying web applications. The platform offers features like automatic scaling, a global edge network, serverless storage, SSL, DDoS protection, and a secure infrastructure.
Vercel is also the creator of Next.js, the React framework that allows devs to build high-performance static websites and applications. The startup works with some of the biggest brands in the world, including Box, Sonos, and Adobe. In May 2024, Vercel raised $250 million in Series E funding at a valuation of $3.25 billion.
3. Robovision
5-year search growth: 150%
Search growth status: Regular
Year founded: 2009
Location: Ghent, Belgium
Funding: $60.7M (Series A)
What they do: Robovision is an AI-powered computer vision platform used for building and deploying computer vision applications. The no-code platform primarily helps manufacturing and robotics companies implement AI automation into their machine designs. In April 2024, the startup raised $42 million in Series A funding to expand operations in the US.
4. Budibase
5-year search growth: 8,500%
Search growth status: Regular
Year founded: 2019
Location: Belfast, United Kingdom
Funding: $9.2M (Seed Round)
What they do: Budibase is an open-source low-code platform for creating and managing SaaS applications. This platform is used to build and design internal tools, workflows, admin panels, and client portals. According to the company’s website, they support over 100,000 teams, including top customers like Disney, Netflix, and Google.
5. Kinsta
5-year search growth: 59%
Search growth status: Regular
Year founded: 2013
Location: Los Angeles, California
Funding: Undisclosed (Private Equity)
What they do: Kinsta is a managed database, web application, and WordPress hosting startup. The company uses Google's C2 cloud computing platform, which increased customer performance by 30-200%. With 37 data centers worldwide, Kinsta serves over 120,000 users from 128 countries.
6. OutSystems
5-year search growth: 37%
Search growth status: Exploding
Year founded: 2001
Location: Boston, Massachusetts
Funding: $802.1M (Series G)
What they do: OutSystems is a low-code development platform that builds, deploys, and manages enterprise-level mobile and web applications. Unlike alternative PaaS providers, OutSystems focuses on high-performance low-code for omnichannel applications that function on the web, mobile, and other channels.
With features like pre-built templates, automated testing, and version control, the platform supports the full application lifecycle. In 2023, OutSystems reached $262.8 million in revenue and 300,000 total customers.
7. Netlify
5-year search growth: 147%
Search growth status: Exploding
Year founded: 2012
Location: San Francisco, California
Funding: $212.1M (Series D)
What they do: Netlify allows developers to host and deploy their websites and applications without managing the underlying infrastructure. The Netlify platform includes custom domains, deployment previews, rollbacks, split testing, and much more. It’s estimated that 16% of the internet population uses a website or web app hosted by Netlify every month. This is due to their millions of users which includes top companies like Nike, Riot Games, and Twilio.
8. Scalingo
5-year search growth: 99x+
Search growth status: Exploding
Year founded: 2015
Location: Strasbourg, France
Funding: Undisclosed
What they do: Scalingo is an online cloud hosting platform for developers. Key features offered on this platform included integrated GitOps, auto and manual scaling, error tracking, and support in 40+ programming languages. Primarily, Scalingo simplifies the development and deployment process by automating server and infrastructure management. The company now supports more than 1,500 monthly users in 70+ countries.
9. Lightning AI
5-year search growth: 1,113%
Search growth status: Exploding
Year founded: 2019
Location: New York, New York
Funding: $80.6M (Convertible Note)
What they do: Lightning AI is an operating system for building AI models and end-to-end ML systems. Their platform, Lightning Studio, allows users to code, prototype, train, and deploy AI apps without specialized infrastructure or data requirements. They're also the creators behind PyTorch Lightning, an open-source Python library used for training AI models.
According to the latest data, over 10,000 companies and 1+ million developers use the company's platform. In February 2024, Lightning AI announced a strategic partnership with Amazon Web Services to provide more customized cloud computing and storage options.
10. Apify
5-year search growth: 733%
Search growth status: Exploding
Year founded: 2015
Location: Prague, Czech Republic
Funding: $3.5M (Series Unknown)
What they do: Apify is a web scraping and data extraction platform. Unlike other web scraping tools, Apify provides the infrastructure to support large-scale scraping and automation projects with a library of over 1,600 pre-built Python and JavaScript scraping tools.
The company uses a smart rotation of data center and residential proxies and fingerprinting technology that make their bots indistinguishable from human users. Today, Apify has over 2,500 customers worldwide and crawls 4 billion web pages each month.
11. Labelbox
5-year search growth: 247%
Search growth status: Exploding
Year founded: 2018
Location: San Francisco, California
Funding: $188.9M (Series D)
What they do: Labelbox is a data labeling platform for AI teams and machine learning engineers. Key platform features include label editor tools, analytics, intuitive sorting filters, and quality review mechanisms to enhance the data labeling process. In April 2024, Labelbox announced a partnership with Google Cloud to add LLM human evaluation to their list of available services.
12. Mendix
5-year search growth: 105%
Search growth status: Regular
Year founded: 2005
Location: Boston, Massachusetts
Funding: $38M (Series B)
What they do: Mendix is an enterprise low-code development platform for building mobile and web applications. The company's no-code and low-code tools include visual modeling, team collaboration features, cloud deployment, and more. Examples of Mendix-powered apps include AntTail's medicine tracking app and Rabobank's mobile banking app. As of today, the platform supports over 300,000 active developers, 4,000+ customers, and 50 million end users.
13. Prismatic
5-year search growth: 488%
Search growth status: Exploding
Year founded: 2019
Location: Sioux Falls, South Dakota
Funding: $34.3M (Series B)
What they do: According to a Statista report, companies used an average of 130 SaaS apps in 2022. To help reduce this number, Prismatic created a platform for B2B SaaS teams to build, deploy, and manage application integrations. Users get access to a low-code integration designer, existing code-native integrations, infrastructure and deployment support, and more.
In January 2024, the company raised $22 million in Series B funding to grow their team and improve existing software offerings.
14. Appwrite
5-year search growth: 99x+
Search growth status: Exploding
Year founded: 2019
Location: Tel Aviv, Israel
Funding: $37M (Undisclosed)
What they do: Appwrite is an open-source, backend platform for developing web, mobile, and Flutter applications. Their suite of backend services includes user authentication, NoSQL database systems, cloud storage, serverless functionality, and more. Many alternative providers require customers to use a third-party cloud provider while Appwrite allows developers to self-host for full data control. According to their website, the company has supported over 90,000 projects and 1 billion total requests.
15. SnapLogic
5-year search growth: 47%
Search growth status: Regular
Year founded: 2006
Location: San Mateo, California
Funding: $371.3M (Series H)
What they do: SnapLogic provides a cloud data, SaaS application, and business software integration platform. Platform users can access pre-built connectors called "Snaps" that integrate different applications, data sources, and APIs without extensive coding. Many customers prefer SnapLogic because the platform can handle both structured and unstructured data so it can handle modern data formats like JSON.
The company reached 750 customers and over $364 million in revenue in 2023.
16. Kasm Workspaces
5-year search growth: 5,800%
Search growth status: Regular
Year founded: 2017
Location: Mc Lean, Virginia
Funding: Undisclosed
What they do: Kasm Workspaces is a container streaming platform that lets users access desktops, applications, and web services directly from a web browser. Notable platform features include secure remote access, customizable workspaces, full workspace management, and enterprise application streaming. In February 2024, the startup released Kasm Workspaces v1.15, which includes streamlined user interactions, workspace screen recording, and more.
17. Flutterflow
5-year search growth: 9,600%
Search growth status: Exploding
Year founded: 2020
Location: Mountain View, California
Funding: $28M (Series A)
What they do: FlutterFlow is a visual development platform for building native mobile and web applications. The platform follows a no-code approach and offers a drag-and-drop interface for users to quickly add advanced functionality to their apps. The startup currently supports more than 1.25 million users.
Conclusion
That wraps up our list of the top PaaS startups in 2024.
As you can see from our list, many PaaS providers are focused on providing engineers with suitable platforms for mobile and web application development (Adalo and OutSystems) or cloud hosting for databases and web apps (Scalingo and Kinsta).
With the AI space seeing rapid growth, it will be interesting to see how the PaaS sector and cloud computing startup space as a whole adjust.
