5 Software Development Business Success Stories [2024]
In an ever-evolving digital world, starting a software development business presents a solid opportunity to address modern technological needs. At its core, this venture involves creating custom software solutions for clients—think applications, websites, and digital tools.
To embark on this journey, you'll require strong coding skills, an understanding of user experience, and the ability to manage projects. You'll typically work through phases such as requirement analysis, design, coding, testing, and maintenance. It's a field where problem-solving skills come in handy daily.
With businesses continuously seeking to automate processes or create new digital platforms, demand for skilled developers remains high. If you have a knack for coding and a passion for innovation, software development could be a rewarding path. Engaging directly with clients to solve their specific challenges allows for a dynamic work environment and a constant learning curve, keeping your professional journey both stimulating and valuable.
In this list, you'll find real-world software development business success stories and very profitable examples of starting a software development business that makes money.
1. 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. Twelvedevs ($1.2M/year)
Andrey and his co-founder Alexander were working as programmers in a software development outsourcing company when they decided to start their own company. Inspired by stories of small teams achieving success, they came up with the idea of creating a small team of 12 top developers. However, they soon realized that they needed to expand their teams to grow the company, leading to the formation of Twelvedevs, an IT consulting and custom software development company. Since its launch in 2012, Twelvedevs has completed over 70 projects in various industries, including Fintech and logistics, and has become one of the leading custom software development companies with over $100k in revenue per month.
How much money it makes: $1.2M/year
How much did it cost to start: $300
How many people on the team: 50
Twelvedevs, an IT consulting and custom software development company, shares its success story after 9 years of completing more than 70 projects across various industries, having over $100k revenue per month, fifty employees, and a soon-to-be-opened branch in the U.S. for Fintech and logistics.
4. Dreamonkey ($360K/year)
Federico Schianchi and his four partners started Dreamonkey after their first project, Check Your Life, failed to take off. With their expertise in web app development and industrial IoT, they shifted their focus to selling their services to enterprise-level customers, leading to a constant growth of 50% per year and revenue of $300K.
How much money it makes: $360K/year
How much did it cost to start: $40K
How many people on the team: 2
Italian software company Dreamonkey grew from $90k to $300k in revenue with a constant growth rate of 50% per year, thanks to their focus on high-quality web development, industrial IoT, and open-source software development for web developers.
5. Mobapp Creator ($120K/year)
Leonardo, Germán, and Sebastian, the three co-founders of a No-code app builder solution called MobAppCreator, came up with the idea after years of working on various projects in the tech industry. They saw the potential of mobile apps after the launch of the original iPhone and noticed the similarities in their customers' requirements. They built a framework to develop no-code mobile apps and received a grant of 100K after participating in a product competition for entrepreneurs, which allowed them to dedicate all their time to the project and launch their business.
How much money it makes: $120K/year
How much did it cost to start: $50K
How many people on the team: 2
This case study features a team of three co-founders who provide a No-code app builder solution for small businesses and resellers, generating $120k per year while their running costs are only 10% of their overall COGS.
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.
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.
