31 Software Business Success Stories [2024]
Building a software business can be both a rewarding and challenging venture. At its core, this idea involves developing, marketing, and maintaining software applications that solve specific problems for users or businesses.
To start, you need a deep understanding of coding, problem-solving skills, and a knack for innovation. Developers often spend hours brainstorming, coding, debugging, and refining their products. The key to success lies in identifying a unique problem that your software can address better than existing solutions.
What's captivating about a software business is its scalability. Once you’ve created a valuable product, the costs of distribution are minimal, allowing for significant profit margins. Whether it's a mobile app, enterprise software, or a cloud-based service, the potential for growth is immense.
For those with a passion for technology and a commitment to continual learning, starting a software business can be a compelling and lucrative career path.
In this list, you'll find real-world software business success stories and very profitable examples of starting a software business that makes money.
1. Diesel Laptops ($50.4M/year)
Tyler Robertson, founder and CEO of Diesel Laptops, came up with the idea for his business while working at commercial truck dealerships. After seeing the complexity and cost of truck diagnostics, he found a software program in Canada that could make diagnostics easier, and started selling kits on eBay. This side business eventually became Diesel Laptops, a company that offers bundled kits, technical support, and repair information to the diesel industry.
How much money it makes: $50.4M/year
How many people on the team: 180
Diesel Laptops, a B2B company that sells diesel diagnostic hardware, software, and services, successfully doubled revenue each year to make $20 million annually within three years, grew from its founder's garage and dining room table to a 21,000 square foot facility with over 90 employees by listening to customer pain points and offering the bundled products, technical support and repair information to attract and retain diesel technicians and repair shop owners.
2. Cognota ($6M/year)
Ryan Austin's lightbulb moment came when he realized that corporate L&D teams manage a staggering $320 billion in spending without a dedicated operating system, leading him to create Cognota to streamline their workflows and improve productivity.
How much money it makes: $6M/year
How much did it cost to start: $500K
How many people on the team: 40
Cognota is a learning technology company that has developed an operating system specifically for corporate learning and development (L&D) teams, streamlining their workflows and providing valuable insights for increased productivity. Despite facing challenges and taking longer than expected to launch, the company has experienced steady revenue growth and customer satisfaction, positioning itself as a leader in the industry.
3. Third Wave Analytics ($3.96M/year)
Savitra Sharma, the founder of Third Wave Analytics, came up with the idea for her business after witnessing the inefficiencies of technology in laboratories during her previous consulting roles. Realizing the need for a more optimal system, she reached out to Salesforce and proposed a collaboration to bring a new kind of software into the laboratory. With just $200 in capital, Sharma started Third Wave Analytics and built the world's first cloud-based laboratory information management system (LIMS) called Lockbox LIMS, which is now used internationally by organizations in various industries.
How much money it makes: $3.96M/year
How much did it cost to start: $200
How many people on the team: 7
Third Wave Analytics developed the world's first cloud-based and customizable LIMS platform on Salesforce, generating $330k monthly revenue from clients such as Ohio State University and Boston University School of Medicine while partnering with the University of California-Berkeley for a COVID-19 study; founder Savitra Sharma advises aspiring entrepreneurs to focus on clear objectives to meet their goals.
4. HMS ($2.7M/year)
Chris Vandersluis founded HMS Software back in 1984 after securing a contract to create a project management tool and timesheet for Philips Electronics. Through iterations and feedback from both project management and finance teams, Vandersluis and his team developed a unique timesheet system that could serve both purposes, ultimately leading to the creation of TimeControl. HMS Software has grown organically and made between $2 million and $3 million in revenue last year, with a profitable margin of approximately 30%.
How much money it makes: $2.7M/year
How much did it cost to start: $999
How many people on the team: 15
Montreal-based software company HMS Software generated between $2 million and $3 million in revenue last year, boasting a 20-30% net profit margin and a successful self-funded model. Its project-based timesheet software, TimeControl, is used by a plethora of large private and public organizations to track both activity-based time for updating project management plans and timesheet data for finance.
5. Idea Drop ($2.4M/year)
Charlie de Rusett, CEO and Founder of Idea Drop, came up with the idea for the business while running his previous company, Yellowball. He realized that there was a lack of user-friendly software for capturing and implementing ideas within teams, so he decided to build his own web-based prototype. After seeing the positive impact of the ideas generated within his own team, Charlie saw the potential for Idea Drop to revolutionize idea management for businesses of all sizes and sectors.
How much money it makes: $2.4M/year
How much did it cost to start: $50K
How many people on the team: 25
UK-based Idea Drop is a software-as-a-service (SAAS) allowing businesses to identify, refine and execute innovative ideas through its platform, which is already being used by MT, Ericsson, and the Kent Police Force, offering a public challenge facility allowing clients to crowdsource ideas, with one Covea idea implemented via the platform estimated to save the company £2.5m over five years.
6. Barn2 Plugins ($1.44M/year)
Katie and her husband Andy founded Barn2 Plugins in 2009 as a web design shop. They saw the opportunity to transition into a product business and identified gaps in the market by leveraging their insider knowledge of the industry and researching pain points online. They started with their first product, WooCommerce Password Protected Categories, and focused on low-cost, low-risk solutions that could be quickly developed and launched. Through content marketing and targeted advertising, they have been able to attract and retain customers, generating over $100,000 in monthly revenue with their 16 products.
How much money it makes: $1.44M/year
How much did it cost to start: $0
How many people on the team: 14
Barn2 Plugins, founded in 2009 by a husband-and-wife duo, sells innovative software products generating over $100,000 in monthly revenue aimed at website owners on the WordPress and WooCommerce platforms, with their first product, WooCommerce Password Protected Categories, launched to market after identifying a gap in the industry.
7. MarsX ($1.2M/year)
The founder of MarsX Inc, a low-code development platform, came up with the idea after experiencing the repetitive and time-consuming nature of building startups. Frustrated with traditional development methods, the founder wanted to create a tool that would simplify the process and allow for the reuse of code. Now, with hundreds of projects on the platform and a dedicated team, MarsX is looking to scale and target a specific market.
How much money it makes: $1.2M/year
How much did it cost to start: $300K
How many people on the team: 15
MarsX, a low-code development platform with micro-apps that saves founders 90% of the time and provides flexibility on demand, has over 261 projects on the platform and has attracted hundreds of users through word of mouth.
8. Blend ($1.2M/year)
During his work on various API projects, Vaibhav Prakash envisioned an app simplifying e-commerce product photography. Teaming up with Vishwanath Kollapudi and Jamsheed Kamardeen, they launched Blend in 2021, which now ranks among the top three design apps in Southeast Asia, driving over 30% monthly growth.
How much money it makes: $1.2M/year
How much did it cost to start: $0
How many people on the team: 28
Blend is an AI-powered design and product photography tool for e-commerce sellers that helps solve the common problem of high costs and strong competition faced by direct-to-consumer (D2C) businesses, with the goal of leveling the playing field for small businesses and larger brands by democratizing content creation and helping them grow.
9. Modelnet ($1.2M/year)
Dmitry Alentyev came up with the idea for Scrile when he was working part-time as a Java developer and tasked with finding feasible projects in the international market. After the 9/11 terrorist attack affected the international market, Alentyev decided to start his own company and offer custom development orders to clients. Over time, they began to create their first business product, WebVideo, which evolved into the ModelNet platform.
How much money it makes: $1.2M/year
How much did it cost to start: $200K
How many people on the team: 50
Scrile, a software development company, created ModelNet, a platform for online video conferencing and live video chat that has earned $1.5M in sales with a margin of 40-50%, and expanded into new markets and niches such as online expert advice and consulting and telemedicine.
10. Sinry Advice ($1.2M/year)
Sina originally pursued a degree in International Business Management in Malaysia before returning to Iran to work in the import-export business, where he learned about eCommerce and dropshipping. In 2019, a friend introduced him to a unique product opportunity, prompting the launch of an eCommerce store.
Sina's first sale involved a digital product with no manufacturing costs, marking a significant success. This achievement inspired him to create My EA Academy and launch a third business in October 2021, which now earns six figures.
How much money it makes: $1.2M/year
How much did it cost to start: $388
How many people on the team: 6
Entrepreneur Sina Sinry started an eCommerce business selling the best performing forex robot, generating monthly earnings of over $100,000 from his digital products, which he developed with the help of professional developers and found success through Facebook Ads.
11. TutorCruncher ($1.2M/year)
Samuel Colvin, the Co-founder of TutorCruncher, came up with the idea while working at a tutoring agency and realizing the need for a software solution to streamline administrative tasks. Through hard work and collaboration with tutoring agencies, the TutorCruncher system was developed and launched in 2013. Today, it is the leading tutor management software in the UK, trusted by over one million users worldwide.
How much money it makes: $1.2M/year
How much did it cost to start: $500
How many people on the team: 0
TutorCruncher Co-founder Samuel Colvin details the success story of his tutor management software company, which has grown to become the leading software in the UK with over one million users worldwide and is set to expand its market through the launch of a new Tutor App.
12. Cobuild Lab ($1.08M/year)
Angel Lacret, the founder of Cobuild Lab, started the company 5 years ago after moving to Miami from Venezuela. As a software engineer with previous experience in creating products for startups and government organizations, Lacret saw the need to help entrepreneurs succeed by providing them with custom software solutions. Over the years, Cobuild Lab evolved its product development process, focusing on sustainable software development and establishing a strong customer service approach. Despite the challenges posed by the COVID-19 pandemic, the company adapted its strategy and saw significant growth, doubling its revenue and staff in 2021. Cobuild Lab's future goal is to continue expanding its sales and lead generation efforts, aiming for a 2x growth in 2022.
How much money it makes: $1.08M/year
How much did it cost to start: $20K
How many people on the team: 45
Cobuild Lab's CEO and Founder Angel Lacret shares his journey of starting a custom software solutions company, starting from $20k and growing to a team of over 50, and offers insights on attracting and retaining customers through a strong digital marketing campaign and building personal relationships, as well as emphasizing the importance of product market fit and sales.
13. Salonist Software ($1M/year)
Neeraj Gupta, the Managing Director of Shrivra and founder of Salonist, came up with the idea for his business after a salon owner approached his IT services company for help with selling services and booking appointments online. Recognizing the challenges faced by the beauty and wellness industry, Neeraj decided to create a comprehensive software solution that would streamline scheduling processes and improve the customer experience. Since its launch in 2017, Salonist has attracted over 10,000 customers worldwide and continues to grow.
How much money it makes: $1M/year
How much did it cost to start: $149
How many people on the team: 100
Salonist.io is a one-stop software solution for businesses in the health, beauty, and wellness industries, with around 10,000 customers worldwide, offering everything from customer management to Point of Sale, online bookings, multi-location management, marketing, and much more.
14. Modern Launch ($600K/year)
Cody Benedetto and Ryan Serkes, founders of Modern Launch, started their custom software development company after experiencing success with their own business ventures. Within just three months of launching, they generated over $100k in revenue and have been profitable since their third week in business. Their services include mobile application development, website development, and custom software development.
How much money it makes: $600K/year
How much did it cost to start: $5K
How many people on the team: 2
Modern Launch, a custom software development company, generated over $100k in revenue and achieved profitability within its first 3 weeks of bootstrapping, offering services including mobile application development, website development and design, and custom software development.
15. Six Atomic ($480K/year)
Taime Koe, the CEO of Six Atomic, came up with the idea for his business after recognizing the flaws in the apparel industry's supply chain. He saw the potential for on-demand production, which would allow for personalization and sustainability while reducing inventory risk. Through years of research and development, Six Atomic created automation technology that can create customized patterns and designs for each customer, ultimately leading to a more efficient and profitable supply chain.
How much money it makes: $480K/year
How much did it cost to start: $10K
How many people on the team: 20
Six Atomic builds automation technology for the apparel industry to enable real-time, sustainable, and personalized supply chains.
16. Dusseau and Company ($420K/year)
Mark, the founder of Dusseau and Company, drew inspiration from his personal experiences as a former foster child and his professional background in software development. He saw a need to help small businesses and diverse founders build disruptive software companies, and thus, Dusseau and Company was born. With a scientific approach to product development and a commitment to empathy and helping others, Mark has successfully worked with clients like Chevron and JP Morgan Chase, helping diverse founders raise $700k in funding and achieve over $15 million in company valuations.
How much money it makes: $420K/year
How much did it cost to start: $1.5K
How many people on the team: 0
Dusseau and Company is a boutique product development firm focused on helping diverse founders ideate, design, develop, and scale disruptive technology companies, with a leading service of executing different levels of the product development lifecycle, and boasts an impressive metric of helping diverse founders build products that have gone on to raise $700k in funding and over $15 million in company valuations.
17. Quandri ($324K/year)
Quandri, founded by brothers Jackson and Jamieson Fregeau, is a digital worker company focused on automating tasks for the insurance industry. Their most popular product compares policies upon renewal, providing brokers with a summary report of important changes. With a monthly revenue of $30k and a growing team of 9, Quandri is rapidly expanding its customer base across North America.
How much money it makes: $324K/year
How much did it cost to start: $10K
How many people on the team: 6
Quandri, a digital worker company that automates time-consuming work for the North American insurance industry, has grown to an average of $30k monthly revenue since co-founder Jackson Fregeau took advantage of spare time during the pandemic to build initial bots; the company has since added several full-time employees, and is "rapidly" expanding its customer base.
18. TRIARE ($300K/year)
Boris, the founder of TRIARE, came up with the idea for his software development company after working as a project manager for a German startup. When the company closed down, Boris decided to keep the team and build a business together. With just a $500 investment, they started providing software development services and eventually evolved into a full-cycle service provider. Through word of mouth and various marketing tools, TRIARE has attracted and retained customers, with their website receiving 22,000 unique visitors and generating dozens of leads.
How much money it makes: $300K/year
How many people on the team: 60
Ukrainian software development company TRIARE, with a current annual turnover of $500,000, shares how personal and collective responsibility, paired with patience and consistency, can help build a profitable business.
19. Swift App ($120K/year)
Jeet Mehta, one of the founders of Swift App, came up with the idea for the business after hearing the complaints of a sports facility owner. He and his team, all working full-time in Toronto tech, decided to build a prototype that would help facility owners manage bookings and save time. After receiving positive feedback and securing their first paying customer, they launched the business and have since grown to $10K/month in revenue.
How much money it makes: $120K/year
How much did it cost to start: $300
How many people on the team: 3
Swift App founders built software to help sports facility owners run their businesses, freeing up valuable time with an easy-to-use online booking system, which has helped the company grow to $10k/month in revenue.
20. Sync2Sheets ($108K/year)
Leandro, a former freelance software developer from Buenos Aires, pivoted from freelancing to building Sync2Sheets, a tool syncing Notion databases with Google Sheets. Launched rapidly in just two weeks, the product now boasts $9k MRR and over 400 paying customers, including Canva and Wix.
How much money it makes: $108K/year
How much did it cost to start: $0
How many people on the team: 0
A Software Engineer turned SaaS founder shares the journey of building Sync2Sheets, a Google Workspace Add-On that syncs Notion databases with Google Sheets, generating $9k MRR with over 400 paying customers, strategic marketing tactics, and plans for expansion into other services.
21. Session ($100K/year)
Philip, a designer and developer based in Jakarta, came up with the idea for Session after experiencing frustration with slow handoffs between design and development at a startup he worked for. As a solution to his own problem of staying focused, he created an app that helps users block distracting websites and track their work time. Session has since gained popularity, making $5.8K per month in revenue as of May 2021.
How much money it makes: $100K/year
How much did it cost to start: $120
How many people on the team: 0
Learn how a designer and developer from Indonesia created Session, an app that helps people stay focused by blocking distractions, which currently makes $5.8K per month in revenue through its freemium business model.
22. Legislate ($60K/year)
Charles Brecque, the founder of Legislate, came up with the idea for his legal tech company after experiencing the slow and painful process of creating, negotiating, and tracking contracts in his previous startup role. He realized that making contracts machine-readable through knowledge graphs would be a more efficient solution and secured initial funding to start building the platform. Legislate has since gained over 120 paying clients and raised £1M in funding.
How much money it makes: $60K/year
How much did it cost to start: $150K
How many people on the team: 12
A legal tech company, Legislate, founded by Charles Brecque, makes it easy for non-lawyers to safely create lawyer-approved contracts and track the data they contain, with a team of 12 and over 120 paying clients split between property and employment.
23. Talknotes ($60K/year)
After dropshipping and freelancing fizzled out, Nico locked himself in a hotel room for two months, learned to code from scratch, and launched 17 apps in a year—selling one for $65,000. His frustration with poor transcription tools led him to create Talknotes, now generating $5,000/month.
How much money it makes: $60K/year
How much did it cost to start: $0
How many people on the team: 0
Case study of how an aspiring founder learned to code in 2 months, shipped 17 apps in a year, sold one for $65,000, and built Talknotes generating ~$5,000 per month with 5,000 users, focusing on turning voice notes into structured content for content creators and entrepreneurs.
24. Freeflow ($60K/year)
Mikhiel Tareen and Nick Scavone, former employees of Okta, noticed the challenges that remote employees faced in terms of feeling disconnected from their teams. They conducted extensive research and discovered that the root cause was the lack of casual and spontaneous communication tools for remote teams. This led them to create Freeflow, a B2B software company that provides a 'virtual office' for remote teams to collaborate in a more organic and efficient manner.
How much money it makes: $60K/year
How many people on the team: 8
Freeflow, a B2B software company providing a 'virtual office' for remote teams, raised $1.7M in pre-seed funding, reduced meeting times by as much as 50%, boasts 35+ daily team conversations, and helps globally scaling firms integrate new hires and onboard into the culture.
25. AYH Consulting Ltd ($60K/year)
Founder Sami Abid came up with the idea for AYH Consulting Ltd while working in various jobs where he implemented technology systems to streamline operations. After gaining recognition for his work, he began offering his services on platforms like Upwork and Fiverr, eventually earning enough to quit his day job and focus on running his automation business full-time.
How much money it makes: $60K/year
How much did it cost to start: $500
How many people on the team: 1
AYH Consulting Ltd is a service-based business that helps automate businesses using low-code applications, bringing in an average of $6k/month, with a stable retainer income, offering a good customer experience, and considering diversifying its income stream in the future through digital products.
26. Finale To Do ($48K/year)
Grant Oganyan, founder of Finale To Do, came up with the idea after struggling to find a task management app that suited his needs. Inspired by his success with his first app, Finale: Daily Habit Tracker, Grant wanted to create a customizable and aesthetically pleasing task management app without the need for monthly subscriptions. After experiencing displacement due to the war in Russia, Grant fully invested himself in running his own business and has seen promising growth, with a 500% increase in users in the first month and monthly revenue of $4,000.
How much money it makes: $48K/year
How much did it cost to start: $0
How many people on the team: 2
Finale To Do is a mobile task management app that offers a highly customizable and aesthetically pleasing experience, boasting a $4,000/month net and gaining a 500% increase in users in its first month.
27. Data Excavator ($48K/year)
Vitaly, a programmer and entrepreneur, came up with the idea for Data Excavator while working on a project to create a catalog of automobile oils. Frustrated with the difficulty of obtaining data from manufacturers, he developed a prototype that could scrape information from websites using CSS selectors. The prototype proved successful, allowing him to collect the desired database in just a few hours.
How much money it makes: $48K/year
How much did it cost to start: $30K
How many people on the team: 2
Vitaly, a programmer and entrepreneur, accidentally created a data scraping app while working on a different startup that has since compiled energy-efficient databases of about 500,000 goods used by five large companies and many small ones, with monthly sales of over $100 million.
28. Purpur ($36K/year)
Elena Zaharova and Anfisa Savchenko leveraged their marketing expertise from a skincare company to launch Purpur, a therapy-game app that deepens relationships through conversation, after their printed card games generated over $300K in sales. With an app launch in spring, they aim for $3K monthly revenue by mid-October.
How much money it makes: $36K/year
How much did it cost to start: $7K
How many people on the team: 5
Purpur App, a therapy-game app to develop relationships through talking, generated over $300K in sales from printed card games and have launched a new app that has the potential to reach $3K monthly revenue by mid-October.
29. templatesGo ($12K/year)
Nguyen Thanh Nga co-founded Templatesgo.com after struggling to create an invitation letter, realizing the need for a simpler, more efficient way to generate legal documents. Within six months, the platform amassed 10,000 monthly users, highlighting its rapid growth and user appeal.
How much money it makes: $12K/year
How much did it cost to start: $30K
How many people on the team: 1
Templatesgo.com is a document generator for legal documents that has gained 10,000 users per month since launching in 2022 and offers a wide range of legal documents in three main categories: real estate, business, and personal documents.
30. Workee ($12K/year)
Workee, the user-friendly business management software for freelancers, was born out of the founder's personal experience. When his therapist mom lost her job due to COVID, he realized the need for a simple tool to automate work routines for professionals with online appointments. After conducting interviews and receiving feedback, they launched an MVP and have since attracted customers through paid channels and organic growth. Their future plans include expanding their user base and launching a fully free package to drive growth and retention.
How much money it makes: $12K/year
How many people on the team: 6
Workee is a user-friendly business management software for freelancers who do private appointments, created by a team of experienced software developers after conducting 20 interviews and seeing a huge need for a tool that can autopilot work routines and an all-in-one approach to avoid high marketplace fees.
31. Fueler ($4.2K/year)
While hustling as a freelancer and juggling multiple client requests, Riten Debnath saw the inefficiency of managing customized portfolios. Realizing others faced the same challenge, he launched Fueler—a seamless, user-friendly platform that has since attracted over 7,000 members and paid out $12,000+ to freelancers.
How much money it makes: $4.2K/year
How much did it cost to start: $3K
How many people on the team: 4
Fueler is an online portfolio platform for knowledge workers that has grown to 7000+ members worldwide, paid out over $12,000 to verified members, and gained most of its traffic through Twitter, offering a simple and easy-to-use platform to showcase proof of work, enabling skilled individuals to land better opportunities without credentials and certificates.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
