The world has seen a remarkable surge in AI solutions and applications in the past few years.
A 2024 report reveals that there are 57,933 AI companies worldwide cutting across various sectors, and SaaS is leading the charge.
In the dynamic AI SaaS landscape, tech giants like Google and OpenAI are at the forefront of groundbreaking advancement.
On the other side of the divide, emerging startups are also weaving up strategic solutions to industry-specific problems, all contributing to an empowered and automated future.
But who are the top AI companies to watch out for in SaaS?
In this article, we took an in-depth view of 50 top AI SaaS Companies in the world. Exploring who they are and what solutions they bring to the table.
Let’s dig right in!
1. OpenAI
Year founded: 2015
Location: San Fransico, CA
Funding: $11.3 B
With a valuation of $157 billion (2024), OpenAI is undisputedly the biggest AI company in the world.
In November 2022, the SaaS company shook the internet with ChatGPT, which could do everything from writing fables and essays to solving math and coding computer programs.
As a sequel to that, the AI went viral as users shared their conversations with ChatGPT, showing what it could do.
One interesting fact about OpenAI models is their continual advancement, thanks to their cutting-edge research teams.
For example, the first GPT—which had 117 million parameters—was very limited in use case, and books were used to predict answers.
In contrast, the more recent ChatGPT4 has over 1.76 trillion parameters and can provide incredible insight from data and follow users’ intent more accurately.
OpenAI’s initial mission is to create an AI that would benefit humanity.
They started as a non-profit organization and only introduced a profit arm in 2019 to enable talent hiring and ensure equity, of which Microsoft owns 49%.
Today, this SaaS company boasts as one of the most profitable AI companies with monthly revenue of $300 million, which it earns from its over 250 million weekly user subscribers and from licensing its proprietary rights to other organizations.
Notable exits include Elon Musk, who co-founded the company and left in 2018 to find his path.
2. DeepMind
Year founded: 2010
Location: UK
Funding: $500M
Google DeepMind is one of the top machine learning SaaS companies and a pacesetter in ground-breaking AI implementation discoveries.
It’s the brain behind AlphaCode, which some software-as-a-service companies use to develop high-quality codes efficiently.
Early in 2024, the company showcased its landmark achievement, an AI that can solve complex maths problems at the level of Olympiad gold medalists. It’s called the Alpha Geometry model.
Meanwhile, their most popular innovation remains AlphaFold, which accurately predicts 3D models of up to 200 million proteins.
This has brought about faster drug formulation and better patient results. AlphaFold is also relevant in crop preservation.
3. Databricks
Year founded: 2013
Location: UK
Funding: $4B
With over 20 million monthly active users and several open-source platforms that unify people’s data, Databricks is one of the top AI data companies revolutionizing large data management.
Their AI platform includes business intelligence tools that allow companies to gain the most value from all their data while saving costs.
In addition to data services, the SaaS company has a strong influence on open-source Large Language Models (LLM).
In 2023, it bought an AI product that allows users to train and improve models with their own data, MosaicML, at $1.3 Billion.
Leveraging its data strength and MosaicML, Databricks developed one of the fastest open-source LLMs, DBRX.
This model can handle various tasks, like programming and mathematical reasoning, with superior scalability compared to other leading models.
Ultimately, Databricks is booming with revenue, with 140% Net recurring revenue and $2.4B in ARR.
4. Scale
Year founded: 2016
Location: San Francisco, CA
Funding: $13.8B
You can’t talk about the top AI data companies without giving this tech SaaS a slot on the table.
From starting up in a basement to achieving unicorn status, Scale is a success story in the AI SaaS landscape.
It is scaling the development of artificial intelligence applications by speeding up a crucial step in model training—data labeling.
The company was first known as a valuable machine learning SaaS provider to autonomous vehicle companies, where it analyzes and trains vast amounts of data for driving AI-powered cars.
Now, it provides data solutions for top SaaS companies like Meta, OpenAI, GitHub, and DeepMind.
Two ways Scale’s AI excels over other solutions are its ability to carry out large-scale data-labeling projects and its support for image annotation.
It also prides itself on creating data quality assurance, which is crucial in high-performing machine learning models and a good fit for fields where accurate predictions are paramount, such as healthcare, security, AR/VR hardware, robotics, and autonomous vehicles.
Over the years, the SaaS company has seen substantial growth with the increasing demand for data-labeling services.
Its valuation peaked at nearly $14B from 2021 to 2024, with a 4x surge in sales (almost $400 million) within the first half of 2024.
Their investors list includes tech giants like Amazon, Meta Platforms, and Accel, among 38 others.
5. Abridge
Year founded: 2018
Location: United Kingdom
Funding: $204M
Abridge is the first company to bring real-time AI-powered documentation to healthcare.
It has relieved doctors’ stress of note-taking while allowing them to harness the value in conversations held in consulting rooms.
Their AI SaaS product generates notes from patient-clinician conversations and organizes them in a way that is useful for patients and insightful for healthcare providers.
As one of the top AI companies, it has had a handful of partnerships, mostly with health organizations.
However, their latest is with tech giant Epic on an ambient workflow tool.
Other partnerships include the University of Vermont Health Network, UChicago Medicine, MemorialCare, Sutter Health, NVIDIA, UCI Health, the University of Kansas Health System, and Priority Health.
6. Anyscale
Year founded: 2019
Location: USA
Funding: $260M
Anyscale is one of the biggest AI companies in the world for democratized and open-source AI.
As the rat race of AI adoption ensues, new SaaS companies striving to catch up are often greeted with challenges like hiring experts and making market entries.
Anyscale ensures companies excel in AI projects by helping them speed up the process from documentation to training and experimentation with its open-source unified framework.
This allows budding startups to benefit from the same tools as big SaaS companies without spending heavily on them.
“We do the heavy lifting so that companies can focus on building their AI applications and getting them into production and seeing a return on their investments,” says CEO and co-founder Robert Nishihara.
Companies using Anyscale include prominent ventures such as NVIDIA, Instabase, and Rex Group.
7. Baseten
Year founded: 2019
Location: California
Funding:
Baseten is a key player in the accessibility landscape of AI infrastructure solutions.
Its goal is to accelerate the impact of artificial intelligence by eliminating most of the rigors of building AI tools and allowing companies to focus on problem-solving.
As you may have heard, building AI tools isn’t as difficult as it used to be, thanks to cheaper access to training models.
However, organizations face a big challenge in implementing them.
Basten offers a robust infrastructure to help businesses deploy machine learning models efficiently.
With an emphasis on cost-effective AI implementation, they have created a free program to prevent lag time in large language model setups.
They have also integrated the high-priced NVIDIA GPUS on their platform so that customers can access optimized inference infrastructure affordably.
Baseten’s platform is the end to common challenges with deploying AI, including scalability, cost efficiency, and expertise.
The company went public in 2022, raising $20 million on series A funding.
However, early adopters like Stanford, the University of Sydney, Cockroach Labs, and Patreon had begun using it a year before.
8. AssemblyAI
Year founded: 2017
Location: USA
Funding: $115M
AssemblyAI is a top performer among AI-as-a-service companies in audio intelligence.
Its API-based platform supports over 80 languages and offers services like automatic transcription, content moderation, sentiment analysis, and auto chapter creation.
With a strong commitment to innovation, the team continuously updates their APIs, keeping clients abreast of cutting-edge voice AI technology before it hits the market.
Many companies, including Spotify, CallRail, and Writer, rely on their API to quickly advance their AI models and AI-driven products and features.
While the general use case for AssemblyAI is for advancing audio models, developers can use it to perform strategic tasks, such as analyzing a podcast for prohibited content, at a cost as low as $0.00025 per audio second.
The company has raised $50 million in a late-stage funding series, showing strong investor confidence and financial support for expansion.
Since its start in 2017, it has recorded over 200,000 users.
9. Owkin
Year founded: 2016
Location: London
Funding: $$321M
Owkin is undoubtedly positioned as a top shot in medical AI, having solved the fundamental data privacy issue throbbing the AI health sector.
Its product uses federated AI technology, a concept that allows researchers to learn from data without compromising its privacy.
Leading cancer centers globally are leveraging Owkin’s technology to enhance diagnostic procedures, accurately predict patient outcomes, and scale personalized treatment, especially in the oncology department.
Its range of tools includes RlapsRisk, a diagnostic AI for evaluating breast cancer patients’ risks of relapse, and MSIntuit CRC, which has been approved for colorectal cancer diagnosis and treatment across the European Union.
In 2021, multinational pharmaceutical company Sanofi made an equity investment of $180 million in a strategic partnership in which Owkin’s technology predicts patient response to treatment in Sanofi’s oncology research on four types of cancers.
This not only positioned Owkin as one of the well-funded AI data analytics companies but also as a leader in modern medical research solutions.
See Also: 6 Benefits of AI in SaaS Solutions With Use Cases
10. Character.AI
Year founded: 2021
Location: USA
Funding: $193M
After 18 years at Google, Noam Shazier left to co-found a startup that would provide everyone on Earth with their personal AI assistants.
Character AI has brought a concept only seen in fictional movies to reality, where an AI provides everything a companion would, from entertainment to information to emotional connection.
It allows users to create different characters, from fictional to celebrity characters to completely original creations.
Today, the company boasts a massive client base of 20 million, with 18 million unique chatbots created by users.
In 2023, it generated $15.2 million in revenue after securing $150 million in series A funding led by Andreessen Horowitz.
Google remains its chief investor and has unexclusive access to its licensed technology.
11. Photoroom
Year founded: 2019
Location: Paris, France
Funding: $62.1M
From allowing users to easily create studio-quality pictures of their products to empowering businesses with photo-editing automation, Photoroom is a top machine learning SaaS AI company revolutionizing content creation.
With a current annual image processing rate of 5 Billion, photoroom boasts a remarkable userbase of 150 million downloads.
It has an all-inclusive tool suite, servicing users with basic editing needs, such as background changes, and customers with advanced photo needs, like HD quality edits, batch editing, smart resize, and more in their pro plan.
To top it off, its API is available for developers who want to include Photoroom’s features in their products.
Their last funding (series B) was in early 2024, raising $43 million and hitting a valuation of $500 million.
12. Cleanlab
Year founded: 2021
Location: California
Funding: $30M
In this fast-paced technology era, optimum data quality is a pursuit for AI developers, researchers, and businesses.
Cleanlab is one of the top data analytics SaaS companies revolutionizing data reliability with its no-code platform that automates data correction.
Top AI companies like OpenAI and Microsoft integrate Cleanlab AI to ensure the precision and integrity of their models.
The technology has found relevance across various sectors, including financial services, e-commerce, and more.
Beyond data correction, its artificial intelligence is effective in flagging low-quality images and accelerating data labeling.
For instance, it achieved 90% model accuracy at only 35% of the label spent in one use case.
However, Cleanlab’s breakthrough innovation remains the Trustworthy language model (TLM), which detects when large language models are hallucinating—a term that describes when AI gives incorrect results due to insufficient or biased data training.
Currently, it is recognized among the top AI companies by Forbes and CBInsights.