After raising $1.5 million in seed funding earlier this year and a successful private beta run with hundreds of companies, Blissfully was officially launched on 19 September. As part of their launch, Blissfully is also releasing a comprehensive report on SaaS trends in small businesses.
What is Blissfully?
Blissfully, an automated SaaS tracking platform, was started a year-and-half ago with the vision of helping companies to effectively manage their SaaS vendors and products. It was born out of the founders’ frustration, which stemmed from using dozens of SaaS products but not having an easy way to know if they were cost-effective, secure, or actually being used.
Blissfully simplifies SaaS monitoring and management.
What does Blissfully do?
The average medium size business has over 20 SaaS subscriptions, and that number is doubling annually. Blissfully helps companies manage all the SaaS products they use internally. Blissfully achieves this by identifying which SaaS products a company uses, optimizing spending, and improving security, all through one easy-to-use platform.
Once a company installs Blissfully, they get an initial report in 60 seconds. Blissfully automatically detects all the SaaS products, audits spending, security, and usage, analyzing historical data to help users manage their SaaS workflow in the most effective way.
How does Blissfully’s technology work?
Unlike any other software management platforms, Blissfully triangulates data from accounting info, Google authentication single sign-on, and email. A secure email API then pulls rich historical information around SaaS usage including automatically aggregating invoices and receipts from SaaS vendors. This helps provide insights into who is both managing and using each product and subscription beyond just the traditional credit card statements.The Blissfully dashboard then displays every SaaS product a company is using, the billing owner, and recommendations on how to save money. An example is identifying duplicate subscriptions or orphan subscriptions where the billing owner is an inactive account or no longer with the company. The dashboard also identifies ways to improve security by searching for worrisome apps that have access to a company’s Google accounts.
Blissfully already detects over 3,000 SaaS products. For each of those products, Blissfully has written custom code to help ID, tag, and aggregate info across the three data sources—accounting, single sign-on, and email—to create a full picture of that vendor.
Blissfully was founded by Ariel Diaz (CEO) and Aaron White (CTO). They previously cofounded the online textbook startup Boundless, which raised over $10 million in venture funding and was acquired by Valore. Blissfully’s $1.5 million seed round was led by Eric Paley at Founder Collective, who also invested in Boundless.
Blissfully was born out of Ariel and Aaron’s frustration in managing SaaS products and being overwhelmed by the sheer quantity of tools they were using. Every aspect of SaaS management was painful, from getting new employees up and running to figuring out who was in charge of which product and who had access.
Moreover, there is a massive trend toward cloud and SaaS solutions. Blissfully’s SMB SaaS Trends 2017 report details how much SaaS has grown in the past few years. Today, the average SMB uses and spends $195k in paid SaaS subscriptions annually, has 20+ paid SaaS products across the organization, and has 4x more SaaS subscriptions than in 2015.
In 2010, 90% of SMB SaaS usage was generated by engineering and business operations. Today, just 35% of SMB SaaS usage is generated by engineering and business operations. Sales now comprises 25% of usage, and the remaining 40% is spread across a spectrum of functions from customer support and marketing to finance and human resources.
The average company in the report employs just about 100 employees. While much has been published about the rise and impact of SaaS on large enterprise corporations, the impact of SaaS on small and medium businesses (SMBs) – companies that represent over 99% of US businesses and employ nearly half of the US workforce, is relatively scarce.