Solidity and continued profitability in the German software market

The Main Software 50 is the leading ranking of the most successful, privately held software companies in Germany. Since 2012, software companies in the Netherlands register for the Main Software 50 each year. Now returning for the second time, the ranking has extended to the German software market. The event is an initiation of software investor Main Capital Partners to highlight the importance of the often under-reported economic and societal impact of the enterprise software sector. Main indexes hundreds of companies that sign up each year based on seven objective business metrics: revenue, revenue growth, profitability, cloud/SaaS services revenue, recurring revenue, international revenue and revenue from partner channels. The results are verified by independent research institute Fraunhofer ISI.

Sven van Berge Henegouwen, Partner and Head of the DACH office, mentions: “With the Main Software 50 we aim to applaud and recognize achievements in the German software industry. It’s a source of pride for us to extend the ranking to Germany for the second time, underscoring our commitment to showcasing and celebrating excellence in this dynamic sector.”
Key statistics of the Main Software 50 Germany 2023

The key statistics of the Main Software 50 Germany edition 2023 once more shows solidity in the profile of German software companies. The 2021 and 2022 financial data show that the top 50 software companies have grown. The total growth has increased from 23% last year to 28% in 2023 and the average contribution of SaaS (software as a service; software solutions delivered via subscription models) to the revenue of the top-50 players on the list remained the stable (66% in 2022). Alongside, the revenue per FTE has increased from 109.000 in 2022 to 120.000 in 2023. These numbers demonstrate the robustness of software companies’ business models and the predictability of their revenue streams. Software companies build more resilience to market dynamics such as rising inflation, while companies that work a lot on project basis experience significantly more impact when the market conditions deteriorate. The expected growth for the coming two years has however decreased significantly due to the challenges in the German market.

The winners of the Main Software 50 Germany Awards
Five awards were presented at the award ceremony: the Overall Champions Awards for the top three, the Highest Growth Award for the company (with more than 1 million euros in revenue) that managed to achieve the highest revenue growth in 2023 and the Cloud Champion Award for the company that with the highest revenue from cloud-based activities.

This year integrated risk management software company, Cleversoft Group, a former portfolio company of Main, managed to secure third place. Cleversoft was last years’ winner of the Overall Champion’s Awards and thus manages to remain in the top 3. Digital administration software company, Brain-SCC GmbH, climbed straight to 2nd place in the ranking. This year’s No. 1, is rewarded to Anny GmbH, a booking workflow automation and resource management software supplier, founded in 2020 and based in Köln, Germany. In addition to familiar faces, there were also numerous new entrants who signed up for this year’s leading ranking. Circula GmbH, a software company for Travel Expense Management walked away with the Cloud Champion award. Lastly, the Overall Champion, Anny GmbH, also took home the prize for the Highest Growth Award. Anny GmbH achieved a revenue growth of 780% and more than doubled in number of FTE’s in 2022.

“Main Software 50 recognizes the success of the German software industry, which continues to demonstrate its innovative capabilities and profitability. The companies that made the list are a testament to the strength of the German software industry and to its contribution to the economy. The list also serves as a benchmark for other companies in the industry, showing them how to improve and develop their company further.” van Berge Henegouwen concluded.