Top 10 EdTech SaaS Companies That Are on the Rise in 2022

What comes to your mind when you hear the word “classroom”? Chances are it’s a room with anxious teens sitting at desks, studying paper textbooks, and completing assignments. Thanks to EdTech SaaS companies and their revolutionary software, ordinary classrooms are on the transformation path with more technologies penetrating the learning process.

Who do we have to thank for this positive change? We've rounded up the top 10 SaaS EdTech companies that have empowered the global community with the chance to gain new knowledge, conduct experiments, and earn Ivy League degrees from the comfort of their homes. Ready to see their names?

EdTech: Why All the Hype?

If you've been paying attention to the world of education lately, you've probably noticed a lot of talk about EdTech — or educational technology. It's a broad term that covers any type of technology used to enhance or support the learning process — from simple apps and websites to more complex tools like learning management systems and virtual reality headsets.

But what about the benefits that education SaaS companies and their software can bring to students, teachers, and businesses? Here are just a few of the myriad of them:

24/7 Access to Learning Resources

One of the greatest advantages of EdTech is that it provides all students with the opportunity to learn and grow, regardless of their circumstances. No matter where they are or what time it is, they can always log in and find the material they need to study. This is especially helpful for students who have to miss school due to illness or other emergencies.

Increased Engagement

Education technology opens up a more interactive and engaging way for students to learn, which can lead to better academic results. Why so?

Today's children and teens are very tech-savvy. They know all about computers and other smart devices. Therefore, by using modern technology in the classroom, teachers can better accommodate students' interests.

Learning apps, digital games, and AR are tools that can explain a subject more clearly than regular words. For this reason, EdTech makes a positive impact on student engagement. Recent research has proved that students who actively used software from SaaS education companies were more engaged with the material than those who didn't.

Immersive Environment

You know what else is good about SaaS EdTech solutions? Virtual reality learning! Take a look: a geography teacher opening Google Maps on a digital whiteboard to give students a virtual tour of the Great Wall of China. Or an airplane instructor taking an exam from a novice pilot in a 3D flight simulator.

Immersive learning can also combine virtual and augmented reality to offer students an even more interactive experience. Imagine being able to walk through the ancient Pyramid of Cheops or conduct medical surgery using a tabletop projection. Sounds like fiction, no? But digital students around the world are already taking advantage of this innovative technology!

Easier Lesson Planning and Customization

One significant disadvantage of traditional education is that one teacher can't prepare lesson plans to make classes equally informative for all students. As a result, some of them get bored, while others fall behind. Fortunately, today's technology can help tailor the learning process to the levels of different students. How?

Some online learning applications use big data and ML (machine learning) to gather information about student performance as they work on assignments and suggest areas for improvement. That way, all students can learn new material at their own pace, following a recommended path.

Learning Without Borders

The EdTech industry provides a level playing field for everyone, no matter where they are in the world. This is a great benefit for those who live in rural or remote areas, as they are often at a disadvantage when it comes to getting a good education.

EdTech also brings great value for students with special needs. Using its latest advancements, these students can get the individualized attention they require to succeed. This is especially helpful for those who have learning disabilities and are on the autism spectrum.

Top 10 SaaS EdTech Companies Changing the Education Landscape

Pros in abundance. What about the EdTech heroes making waves in the industry? Let's take a look at the top 10 SaaS EdTech companies that are currently growing in popularity around the world and are poised for even greater success in the years to come.

1) Coursera

SaaS EdTech companies always strive to create new and innovative solutions to improve the way people learn. One such company is Coursera, which offers online courses, specializations, and degrees from the world's top universities, such as Yale, Stanford, and Michigan. The mission of the online platform is to make education accessible to everyone, and it achieves this by providing quality services at an affordable price.

So far, Cousera has been very successful, with 113 million users from more than 200 universities, non-profit organizations, and businesses. The platform is making a massive impact on the EdTech landscape, and its e-learning courses are highly respected by universities and employers alike.

2) Duolingo

Duolingo is one of the leading language learning platforms in the world. Since its foundation in 2011, this education SaaS company has expanded rapidly and now has an audience of 500 million students worldwide.

What sets Duolingo apart is its commitment to making education free and affordable for everyone. Just check this fact: it offers more than 100 courses covering 40 languages — all free of charge. In addition to popular languages like Spanish and French, students can also learn less common ones like Welsh and Klingon. Duolingo is constantly evolving, with new features and free courses being added all the time.

3) Outschool

Outschool is another big-name education SaaS company headquartered in San Francisco, California. This education platform offers live online classes for children aged 3 to 18 in a wide range of topics, from coding to cooking to theater. All of Outschool's courses are taught by experienced educators, and class sizes are kept small to ensure quality and personalized attention. Besides virtual lessons, the platform also offers a variety of clubs, camps, and educational programs for special kids.

Over the years, Outschool has earned a positive reputation in the EdTech market. Today, it offers more than 140,000 online classes to over 1 million students across 183 countries.

4) Preply

Preply ranks 4th among SaaS EdTech companies on our list. It helps students elevate their language skills through group and 1-on-1 tutoring. The service offers a convenient payment system, a wide range of educators, and 12 languages to learn. As of 2021, Preply reached a community of more than 140,000 tutors from 203 countries. As for the number of users, there are more than 1 million digital students from over 190 countries. Moreover, Preply proudly states that every month 100,000 new students choose the platform for their language journey and personal development.

5) Labster

Since its launch in 2011, Labster has been at the forefront of the industry, revolutionizing education technology use in the classroom. 250+ virtual lab simulations and interactive science experiments have made it exceptionally popular among other EdTech startups. The software uses VR and AR technology to provide school and college students with realistic, hands-on laboratory experiences, covering everything from biology and chemistry to physics and engineering. In addition to the online platform, Labster also offers a mobile app that allows students to access virtual labs on the go.

If you're eager to see their results in numbers, here they are! After celebrating its 10th anniversary in 2021, the company marked the milestone of 5 million students. In 2022, Labster also won the prestigious EdTech reward — Best Technology Learning Platform — in the EdTech Breakthrough Awards Program.

6) Lessonly

Lessonly is another EdTech startup that has been making a big impact on the ever-changing landscape of education technology. It provides software for businesses to train their staff in-house. The service is designed to help employees learn more information and apply it to their work.

Lessonly's software is used by more than 2000 enterprises of all sizes, from small businesses to Fortune 500 companies. Some notable customers include Trunk Club, Ibotta, U.S. Cellular, and Jostens.

In 2021, Lessonly became part of Seismic, one of the leaders in sales enablement, and is now available as one of its solutions.

7) CreativeLive

CreativeLive is an online education platform that offers live and on-demand classes in a wide range of creative disciplines, including photography, video, design, business, and more.

Founded in 2010, CreativeLive has since grown to serve 10+ million creators. The service offers 1500+ curated classes taught by 700+ world-class instructors. These are no ordinary teachers. On CreativeLive, students can learn from industry leaders — cultural icons, well-known entrepreneurs, and even Pulitzer Prize winners.

8) Panorama Education

Panorama Education is a data analytics company founded in 2012. It has a mission to empower every student with the tools and skills they need to succeed in school and life. Panorama Education provides an online platform that helps institutions collect and track data. School leaders can use the acquired information to track teachers performance and student progress, measure school climate, and personalize the learning process.

Panorama Education software is currently used all over the US: in 50 states, 25,000 educational institutions, and by 15 million students. In its 10 years of existence, it has demonstrated impressive results: increasing graduation rates by up to 33%, boosting students' sense of belonging in school, and reducing behavioral referrals by 86%.

9) Remind

Remind is a communication tool that helps educators connect with students and parents by sending text and voice messages through mobile phones. It allows teachers to send reminders about upcoming assignments, events, and other essential information. Parents can use Remind to stay up-to-date on their child's progress and receive notifications about school closings or delays. The app also provides a convenient 1-on-1 online tutoring service and a virtual hub for class, school, and district communication.

Today, 30+ million people in over 80% of U.S. public schools actively use the Remind mobile app.

10) Playablo

Playablo is the youngest on our list of SaaS EdTech companies, founded in 2015 in Bangalore, India. It offers a learning management system for a digital-native generation — millennials and Gen Z. Their main areas of focus are teaching micro-courses and creating digital games for the classroom.

Playablo's games are designed to be both fun and educational. They can be used in a variety of settings, from traditional school lessons to corporate training. Gamified learning can greatly benefit school students, by boosting their level of engagement. Playablo's micro-learning platform is ideal for busy employees since it delivers information in parts and at a convenient time during a workweek.

How to Ensure the Growth of Your EdTech Company

As you've already realized, the EdTech industry shows no signs of slowing down. As more schools and businesses incorporate technology into their classrooms and workplaces, the world is seeing a growing demand for effective EdTech products and services.

If you're looking for ways to start or grow your EdTech startup, here are a few things you can do to ensure success.

Watch Out for New Trends and Technologies

Keeping an eye on the latest developments will help you identify new opportunities for your business. This ensures that your products are always up-to-date and relevant to your customers' needs.

One way to do this is to attend industry events and trade shows. These are great places to learn about new trends in educational technology. You can also stay on top of EdTech innovations by reading industry news and articles.

Gather a Team of Professionals

If you don't have the right people on staff, but have a desire to take your business to the top, you may want to consider outsourcing a team of EdTech professionals. Take a look at some perks this idea can bring:

• Freeing up your time to focus on other aspects of your business;
• Gaining access to a team of highly skilled professionals;
• Having a crew of experts who are always up-to-date on the latest technology;
• Saving money on IT development costs.

Create an Innovative Product

It's not enough to simply build a product similar to what is already on the market. It must be innovative and stand out from competitors.

There are a few ways you can go about developing a unique and creative product. First, you can start by identifying a pain point that is not addressed in the existing products of other SaaS EdTech companies. Then you can come up with a revolutionary solution that solves that problem. Alternatively, you may start by studying current products and brainstorming ideas to enhance them.

Work on a Monetization Model

One of the preferred ways to monetize your product is the freemium model. However, don't count on it too much, as it can be detrimental to SaaS EdTech companies and any business if freemium users don't convert to paid ones.

Before deciding on a monetization method, first research all the available options the market offers. The one you choose should take into account all the costs and generate the kind of income that will help support your business in the long run. How to increase that profit is also a crucial question that you should think about and solve properly.

Know What the Future Holds

The 21st century has become a hotbed of EdTech innovation. More and more companies begin to see the potential in using technology to improve education. But with so many opportunities comes tremendous competition. How can you make sure your EdTech startup is ready for the future?

The answer is simple: stay future-focused. Rather than waiting for the future to happen, be proactive and create it. 

Everybody Wants to Rule the EdTech World

There's no denial that technology is making far-reaching changes in the education sector. Every day, new tools and platforms are emerging, which have the potential to reshape the way we learn and teach. But with all of these changes, there's one constant: everybody wants to rule the EdTech world.

There are myriads of players in this game with huge amounts of money at stake, from startups to established companies to nonprofits. Each of them is vying for a piece of the pie. But the question is, who will come out on top? Only time will tell, but one thing is certain: the EdTech landscape is bound to get even more exciting in the coming years. And if you have grand plans to create your own EdTech business, it's time to hit the ground running!

Starting something new is never easy. But with a reliable partner like Qulix, you're sure to get outstanding results in no time. Contact us today, and we'll help you create an EdTech product that will wow any Millennial or Zoomer.