Earlier today I was talking with an entrepreneur and the topic of the $1 Million Annual Recurring Revenue Milestone came up. After thinking about it more, I realized I could name 10 Atlanta B2B SaaS startups that had hit this milestone in the last 18 months, and every one is still growing fast. As a community, this bodes well for several reasons:
- Some small percentage of these startups are going to scale and turn into large companies (hopefully, even an anchor technology company)
- Look for some really nice exits from this group over the next 3 – 5 years creating more success stories and local wealth
- More successful startups will train more of the next generation of entrepreneurs contributing to the virtuous cycle
- More institutional capital will come to the region since traction is one of the key elements for this type of investor
There’s a great class of local, fast-growing million dollar revenue SaaS startups that are going to make a real impact on the Atlanta startup community — I’m excited for the future.
What else? What are some more thoughts on the benefits of fast-growing million dollar revenue SaaS startups on a local community?