19 Software Development Agency Success Stories [2024]
Starting a software development agency is a great way to build a profitable business. Businesses are always on the lookout for ways to save time and money, so it's no surprise that they're increasingly turning to software developers as a way of streamlining their operations.
Software developers are in high demand, and people who can develop custom-built solutions for businesses are able to charge top dollar for their services.
In this list, you'll find real-world software development agency success stories and very profitable examples of starting a software development agency that makes money.
1. Madwire ($102M/year)
JB Kellogg, the Co-Founder and Co-CEO of Madwire, came up with the idea for his business while interning at a travel magazine company. After realizing his talent for website design and seeing the potential for helping businesses grow through digital marketing, JB and his father decided to start Madwire and grew it into a company with over 500 employees and $100 million in annual revenue in less than 10 years. Their mission is to help small businesses grow and make a difference in their local communities.
How much money it makes: $102M/year
How many people on the team: 520
Co-founder of Madwire JB Kellogg grew his business from just the two of them in a tiny office to over 500 employees and $100 million in annual revenue in under 10 years, by focusing on exceptional customer service and a multi-channel inbound strategy.
2. Balsamiq ($6.6M/year)
Balsamiq Wireframes, a low-fidelity wireframing tool, was founded by Giacomo "Peldi" Guilizzoni in 2008. The idea for the tool came from Peldi's experience working at Adobe, where he realized the need for a simple sketching tool that could be used by any contributor in product meetings. With a focus on constant learning and improvement, Balsamiq has grown into a team of 33 people with a monthly revenue of about $550,000.
How much money it makes: $6.6M/year
How many people on the team: 29
How Balsamiq became a $550k/month company through staying focused on simplicity and taking care of their team and community.
3. ThirstySprout ($3.6M/year)
David Stepania, the Founder of ThirstySprout, came up with the idea for his business while taking a break on a Hawaiian beach. With a background in startups and a realization that building an extraordinary startup required an extraordinary technical team, David decided to solve the problem of connecting startups with top technical talent they could trust. ThirstySprout was born out of this desire for growth and success, and it has since grown to a team of over 40 people with $2.5 million in gross revenue last year.
How much money it makes: $3.6M/year
How much did it cost to start: $500
How many people on the team: 0
ThirstySprout, a talent acquisition platform, connects remote technical talent with high-growth startups and enterprises, boasting a team of 40-60 remote contractors and $2.5 million in gross revenue last year, with plans to double that in the next year or two.
4. Wolfpack Digital ($3.6M/year)
Gina, the founder of Wolfpack Digital, came up with the idea for her app development agency after realizing the lack of soft skills and business strategy in the tech ecosystem in Romania. With a diverse background in engineering, psychology, and business, Gina was able to bring together her interests and tap into the impressive tech talent pool in her hometown of Cluj. Since launching in 2015, Wolfpack Digital has experienced impressive growth, reaching a yearly revenue of over $1.5 million.
How much money it makes: $3.6M/year
How many people on the team: 88
Wolfpack Digital, an award-winning app development agency from Romania, founded by Gina Lupu, with a team of 50 in-house employees, has exceeded the $1.5M yearly revenue threshold, with an impressive 15-20% profit margin, focusing on fintech, health tech, IoT, social, and transportation industries.
5. SteelKiwi ($1.8M/year)
Steelkiwi, a Ukrainian outsourcing company for web and mobile app development, was founded by Anton Baterikov and another individual in 2011. They noticed a gap in the market for offering businesses an alternative to PHP development and decided to provide high-quality products using Python. Today, Steelkiwi has expanded its expertise and works with businesses in various industries, with over 80 employees helping clients grow digitally.
How much money it makes: $1.8M/year
How much did it cost to start: $1K
How many people on the team: 80
How we started a 150k/month website and mobile development outsourcing company that has grown to 80+ employees and offers services in graphic design, QA, business analysis, project management, and marketing in addition to web and mobile app development.
6. Krit ($1.09M/year)
Andrew, the founder of Krit, initially had no intention of starting a software agency. However, after taking an intro to Computer Science class in college, he became hooked on programming and the startup world. Through various pivots and a failed product launch, Andrew and his team eventually made the tough decision to shut down their product and transition into a full-time agency.
How much money it makes: $1.09M/year
How many people on the team: 7
A software agency started by a non-technical founder helps diverse clients with their minimum lovable product, boasting a revenue of over $700,000 this year with a 20% profit margin and a team of 8.
7. The Jed Mahonis Group ($960K/year)
Tim Bornholdt, co-founder of The Jed Mahonis Group, came up with the idea to start a custom iOS and Android app development consultancy after realizing the potential of the App Store. With a passion for technology and a friend who believed in the business, they started the company with just $250 each and have since grown it into a nearly seven-figure a year agency working with clients such as Great Clips and Profile by Sanford Health.
How much money it makes: $960K/year
How much did it cost to start: $500
How many people on the team: 8
"We started a custom iOS and Android app development consultancy that now makes nearly seven-figures a year by landing clients like Great Clips and the USA CUP after building successful concept apps."
8. theta. ($864K/year)
Emmanuel Iroanya, the founder of theta, had a unique journey that led him to start his civic and government-focused digital firm. Inspired by his father's entrepreneurial efforts in working with the City of Baltimore to provide mental health and family preservation services, Emmanuel realized he could make a difference by working with federal agencies. His time at a large federal systems integrator solidified his idea to create a company that existed at the intersection of technology and government, with the goal of addressing the limitations and implications of technology in the public sector.
How much money it makes: $864K/year
How many people on the team: 0
Digital and management firm theta. has served over six government agencies since its inception, providing innovative solutions to unique computing problems that meet client needs so effectively, it has doubled its employee number and is aiming for a 50/50 prime-subcontractor revenue split.
9. Infinite MLM Software ($780K/year)
Abdul Majeed, one of the directors of Infinite Open Source Solutions, came up with the idea for their flagship product, Infinite MLM Software, when they realized the need for MLM companies to have a software solution to manage their operations efficiently. After launching the software, they focused on digital marketing and content marketing strategies to attract and retain customers worldwide, achieving a monthly income of around $60,000 and a monthly revenue of around $1,00,000.
How much money it makes: $780K/year
How many people on the team: 100
Software development company IOSS achieved a monthly income of around $60,000 and monthly revenue of $100,000 by offering their flagship product, Infinite MLM Software, which successfully manages the huge product sale with all types of commissions, MLM plans, and MLM business reports.
10. Byldd ($600K/year)
Ayush, the founder of Byldd, came up with the idea for his business after seeing the struggle that founders, especially non-technical ones, face when building their first product. He wanted to solve this problem by helping founders build revenue-generating minimum viable products (MVPs) that are just good enough to solve a problem and get customers to pay for it. Since starting as a side project in 2019, Byldd has grown to a team of 35 people and is now making over $50K MRR.
How much money it makes: $600K/year
How much did it cost to start: $10K
How many people on the team: 35
Byldd is a startup that democratizes software entrepreneurship by making it easier and less capital-intensive for non-technical founders to start software businesses, building very focused revenue-generating MVPs for bootstrapping founders, growing from a side project to a team of 35 people and making over $50K MRR.
11. 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.
12. Weblium ($444K/year)
David Braun, co-founder and CEO of Weblium.com, came up with the idea for the company after running Templatemonster.com and realizing the drawbacks of using various website platforms. He wanted to create a website builder that took care of all the issues "under the hood" without bothering customers. With a team of 24 people, Weblium is now creating 20-30 websites every day and growing 200% month over month, on track to reach the milestone of 100 custom websites a day.
How much money it makes: $444K/year
How many people on the team: 51
Weblium, a hybrid website builder that allows customers to switch between doing it themselves or having it done for them, has grown 200% month over month and is making 20-30 websites daily, with plans to reach 100 custom websites a day while partnering with banks and company registrars to offer website creation as part of their packages.
13. Pioneer Mobile Applications ($360K/year)
Phil Scarfi, founder of Pioneer Mobile Applications, came up with the idea for his business while in college. He noticed the inefficiency in accessing dining hall menus online and developed an app that consolidated all the menus in one place. Word quickly spread about his app, leading to opportunities to develop apps for others and ultimately forming Pioneer Mobile Applications.
How much money it makes: $360K/year
How many people on the team: 3
Phil Scarfi, Founder of Pioneer Mobile Applications, shares how he tripled his client base and nearly doubled his website's monthly visitors through SEO, social media marketing and standardization of the development process.
14. NoteForms ($174K/year)
Julien Nahum, founder of NotionForms, came up with the idea for his business after discovering the API release of Notion, a productivity software. As a huge fan of Notion, he wanted to build something with the API and decided to create a form builder integration that offers advanced features specifically for Notion users. Since its launch, NotionForms has gained 26k users, 850 paid subscribers, and generates an ARR of $182k.
How much money it makes: $174K/year
How much did it cost to start: $0
How many people on the team: 1
NotionForms, a SaaS company offering a form builder integration to Notion, boasts an impressive total of 26k users, 850 paid subscribers, and an ARR of $182k, with steady growth since its launch and being used internally by many huge tech companies.
15. UniqueSide ($120K/year)
Manoj, frustrated with seeing aspiring founders struggle to bring their ideas to life, quit his job and launched UniqueSide.io, a founder-friendly MVP-focused software development service. In just 8 months, he scaled the business to $65K in revenue, serving clients from the US, UK, Mexico, and Singapore.
How much money it makes: $120K/year
How much did it cost to start: $0
How many people on the team: 1
Aspiring founder successfully grows software development service, UniqueSide, to $65K in revenue within 8 months, working with 9 founders from 4 countries, leveraging personal branding on Twitter for customer acquisition and retention.
16. Common Sense Holdings ($120K/year)
Maanda Mulaudzi, founder of Common Sense Holdings, came up with the idea for his technology solutions startup during a bus trip in South America. After realizing he wanted to leave his corporate job behind, he started the company upon returning to South Africa and now focuses on rapid prototyping to meet client needs. With a turnover of $5,000 a month, Mulaudzi aims to increase monthly revenue by 100% in the coming year.
How much money it makes: $120K/year
How many people on the team: 2
South African startup Common Sense Holdings, founded by Maanda Mulaudzi, specializes in mobile apps, web-based applications, and IT consulting in the education and business sectors and is on track to double its $5,000 monthly revenue with new clients.
17. LowCode Agency ($120K/year)
Jesus Vargas, founder of LowCode Agency, came up with the idea for his business after discovering a tool called Glide apps that allowed him to easily create apps from Google Sheets. He realized he could use this no/low code tool to build custom apps for businesses at a fraction of the cost and time of traditional app development. After finding success with his first client, an Airbnb owner, Vargas rebranded his company and has since been growing double digits every month, on track to do $150,000 in sales in their first year.
How much money it makes: $120K/year
How much did it cost to start: $500
How many people on the team: 3
LowCode Agency uses no/low code tools to build custom-made apps at 80% lower cost and 70% faster than traditional app development agencies, growing double digits every month and targeting $150,000 in sales in their first year.
18. Brainverse Technologies Ltd ($72K/year)
Brian Nyagol, the founder and CEO of Brainverse Technologies, started the business as a way to finance himself in college. After experimenting with various projects and learning from his mistakes, he revived Brainverse in 2018, building a team and focusing on helping small and medium-sized enterprises digitize their business. Their success is evident in their monthly revenue of $4,500, with 80% of their projects coming from referrals and 20% from direct marketing efforts.
How much money it makes: $72K/year
How much did it cost to start: $1K
How many people on the team: 15
Founder Brian Nyagol started Brainverse Technologies in Kenya, Africa, focusing on helping small and medium-sized enterprises digitize their business, digitalize their processes and build effective digital footprints, with an average monthly revenue of $4,500, serving a total of 113 clients in the past 2 years through referrals and online advertising.
19. Apps:Lab ($72K/year)
a team member as a dedicated product manager to handle their project and ensure successful delivery. Our current revenue stands at $3,500 per month, with 85% generated from software development services and the remaining 15% from our flagship on-demand food delivery app, LetaFood. Despite the challenges in the current market, we are focused on expanding our in-house projects and product development to drive future growth and change the narrative of technology adoption in Kenya and Africa.
How much money it makes: $72K/year
How much did it cost to start: $1.2M
How many people on the team: 5
Apps: Lab KE is a software development company generating $3,500 per month, specializing in problem-solving using technology and data for businesses and communities.
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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.
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