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How SaaS is Booming in New York City
We often think of Silicon Valley as the landmine of software startups, but New York City is certainly giving it a run for its money.
New York City is a phenomenal place for startups. Venture capitalists have invested an estimated $120 billion in US startups this year, and New York has the second-largest startup ecosystem in the country. NYC is home to over 7,000 startup businesses with an economic value of about $71 billion.
The SaaS industry is a huge part of that ecosystem.
New York is seeing an increase in both investment and job openings, specifically in SaaS. This means that the industry holds many opportunities for professionals who are familiar with this tech.
In fact, SaaS investment in NYC has overtaken that in the Bay Area. New York also has more SaaS startups than Silicon Valley, and their deals are larger. In fact, a few of these SaaS startups have gone public in the last few years.
SaaS, or Software as a Service, is basic in theory. Instead of storing data and information on a physical machine or hard drive, it is stored on a third-party server that is accessible via the internet. This is a form of cloud computing.
There are many pros and cons to SaaS, but it is increasingly popular because it is easy to use and cost effective. Because this type of tech is relatively new, the industry has invested a lot of time, money, and manpower into improving and expanding upon the systems currently in place.
The concentration of businesses of all kinds in New York City makes it the perfect place for SaaS startups to thrive. Here, they can build relationships with their customers and maintain them without much strain. More and more businesses will adopt SaaS strategies as time goes on, and these startups will be there to meet that need.
Because of this growth and investment, more professionals are needed to power the industry. If you’re interested in taking advantage of these opportunities, please reach out to the professional consultants at Michael Page today. You can also submit your resume or browse our job listings.