Submissions for the eighth annual Forbes Cloud 100 list are now birth by diagram of Can even just 12.
With tech’s IPO window restful largely slammed shut, the sector’s strongest cloud computing firms glean themselves in protecting patterns. Each company on closing year’s Forbes Cloud 100 remains eligible — even No. 5 Figma, which launched a $20 billion exit by potential of acquisition, nonetheless finds that deal restful pending regulatory approval.
It’s in contrast backdrop that submissions birth for the 2023 list, produced in partnership with Bessemer Challenge Companions and Salesforce Ventures. Nominations may well presumably furthermore very effectively be submitted except Can even just 12 at thecloud100.com.
A lot has modified in the cloud industry landscape over the past year. The sustained market downturn has been amplified by rising pastime rates, much less enterprise capital to crawl spherical and a banking disaster to boot. Some startups enjoy stumbled, whereas others mercurial thrive. So whereas a few closing year’s glorious and brightest cloud startups remain contenders, skill newcomers — of which there were 20 on closing year’s list — are encouraged to computer screen. Attach a query to to see extra foremost movers that mirror the likes of No. 4 Miro, which jumped 32 spots from 2021, or Lacework, which vaulted to No. 55 on its first year making the list.
The Cloud 100, which is entering its eighth year, acknowledges the leading privately-held cloud firms on this planet. Past honorees who enjoy graduated from eligibility comprise household names Zoom, Dropbox and Slack; high-performing tool stocks care for Cloudflare and CrowdStrike; and Forbes screen story sides Snowflake and UiPath.
Nominees confidentially fragment financial data (within supplied ranges) including valuation, revenue and growth charge. This generates a financial rating, which is believed of as on the side of a folks and tradition rating — constant with diversity, headcount change and third-occasion data care for employee ratings — and a market leadership rating derived from feedback by dozens of C-suite web yell online visitors at public firms no longer eligible for the list. Corporations originate now not pay a charge for list placement or consideration.
No. 1 Stripe, No. 2 Databricks and No. 3 Canva enjoy held their pole positions on Cloud 100 for two years in a row. The three firms by myself represented $173 billion of the 2022 list’s $793 billion in total market value — reflective of a enterprise-backed ecosystem that has produced increasingly extra greater firms over time by draw of valuation, as effectively as revenue and employee count. Conventional listmakers boast valuations of now not decrease than $1 billion, as became as soon as the case for each single honoree closing year.
However, the 2022 list most efficient captured the impact of a couple of months of financial pullback on cloud computing. This year’s list will show the finally ends up in elephantine power. A bevy of startups enjoy seen their valuations slashed, both by diagram of their enjoy volition or by markdowns from a couple of of their investors; even the trio atop the list enjoy now not been proof against these cuts. Others enjoy launched layoffs as they navigate persevered market doldrums.
The bar to invent Cloud 100 is high. Candidates must be personal and now not majority owned by one other company. The sensible company closing year had 1,300 workers, an $8 billion valuation and extra than $600 million in enterprise capital raised (though bootstrapped firms are furthermore eligible to computer screen).
The Cloud 100 is accompanied by a list of 20 Rising Stars: fledgling startups which enjoy raised decrease than $25 million in funding nonetheless enjoy proven early promise to change into a future breakout cloud company. Candidates may well presumably restful observe by diagram of the identical submission project.
Forbes publishes the elephantine list in the summer season, accompanied by an in-depth kit with reporting on standout firms, trends and analysis. Our partners host an match later this year with panels and special programming for honorees. For extra data on methodology, judges and a hyperlink to computer screen, crawl to thecloud100.com.
