May 2026
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Largest Horizontal SaaS Public Companies in Brazil
Benchmark revenue and EBITDA valuation multiples for public comps like
TOTVS, Vtex, Locaweb, Neogrid and Infracommerce.
 | Totvs SA is a provider of information technology solutions to small and medium enterprises in the education, government, healthcare, and retail end markets. The Company's business purpose is to provide business solutions for companies of all sizes, through the development and sale of management software, productivity platforms, collaboration, and data intelligence, digital marketing, as well as the provision of implementation, consulting, advisory, maintenance services, e-commerce, and mobility. The Company operates in three reportable segments, which include the TOTVS Management segment, the RD Station segment, and the TOTVS Techfin segment. The majority of its revenues is generated from the TOTVS Management segment. | $7 | -16% | $4B | $5B | 4.1x | 14.2x | ||
| Vtex provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables customers to execute their commerce plan, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. It generates maximum revenues from Brazil followed by Latin America and the rest of the world. | $4 | -41% | $660M | $469M | 1.9x | 19.4x | ||
| Locaweb Servicos de Internet SA is a Brazil-based software company. It offers digital marketing, cloud, and accommodation services such as website hosting, WordPress hosting, domain registration, and email services. The operations of the Company and its subsidiaries are divided into two operating segments: Be Online and SaaS and Commerce. The Be Online and SaaS segment includes hosting and cloud services, as well as those called SaaS (email, marketing intelligence software, and site builder). The Commerce segment includes e-commerce solutions, platforms, marketplace integration, and sub-acquiring business services. | $1 | +0% | $419M | $376M | 1.3x | 5.8x | ||
| Neogrid Participacoes SA is engaged in investing in other companies or partnerships, businesses and undertakings of any nature. The company is focused on Software as a Service (SaaS), data and technology that solves key challenges for the supply chain. With solutions that integrate and synchronize operations of manufacturers, distributors, and retailers, it ensures that products are well distributed, sized and allocated. increasing the efficiency of customers, reducing the high costs related to waste and inventory shortages and excesses and freeing up working capital. Offering SaaS solutions is the primary source of revenue generation through subscription to the Neogrid solution platform. | $7 | -- | $60M | $37M | 0.7x | 5.4x | ||
| Infracommerce Caxaas SA is the largest full service company for digital businesses and works with the modular concept, bringing together platform, marketing, content, payment, logistics and SAC in three core competence cores: Omnichannel Platform, Marketing and Sales and Operations. | $0 | -97% | $16M | $105M | 0.7x | (4.6x) | ||
| Zenvia Inc provides a platform that enables companies to create journeys for their end customers across a variety of channels. The company operates in two reportable segments namely CPaaS and SaaS. It has a geographic presence in Brazil, the USA, Argentina, Mexico, and Others. The company generates the majority of its revenue from Brazil. | $0 | -89% | $9M | $22M | - | - | ||
| Semantix Inc is a fully integrated data software platform. It develops solutions in the Data Driven model, for organizations that need to be one step ahead using the latest technology. The company generates majority of the revenue from Brazil. | $0 | -- | $8K | $8K | - | - | ||
| Median | $1 | -41% | $60M | $105M | 1.3x | 5.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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