SAN FRANCISCO — September 13, 2018 — ThoughtSpot, the leader in search and AI-driven analytics for the enterprise, has been named to the Forbes 2018 Cloud 100, the definitive list of the top 100 private cloud companies in the world. The annual list is published by Forbes in collaboration with Bessemer Venture Partners and Salesforce Ventures.
“With technologies like the Internet of Things and the cloud on the rise, businesses have more information at their fingertips to sift through than ever before; simultaneously, the pace of decision making is increasing exponentially at every level of the enterprise. To keep up, organizations require fundamentally new technologies to extract insights from the ever-growing mountains of data they collect or they’re destined to become the next Blockbuster,” said Sudheesh Nair, CEO of ThoughtSpot. “By building a completely new approach to data predicated on artificial intelligence and machine learning, ThoughtSpot empowers every business user, regardless of their technical sophistication, to directly interact with data and answer their own questions in seconds, all without needing to involve IT. Today’s recognition from Forbes as one of the top 100 cloud companies demonstrates the transformational value we deliver to enterprises around the globe looking to unlock the true potential of their data.”
As part of the rigorous selection process for the Forbes 2018 Cloud 100, Bessemer Venture Partners received submissions from the top cloud startups. The Forbes Cloud 100 judging panel, including top public cloud company CEOs, reviewed the data to select, score and rank the top 100 cloud companies from all over the world. The evaluation process involved four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%).
“For the past three years, the Cloud 100 list has identified the top cloud companies that are reshaping their respective industries,” said Alex Konrad, Forbes editor of The Cloud 100. “I am consistently impressed by the caliber of companies honored on the Cloud 100 list. It is an exciting time to a be a cloud company and founder.”
“All of the twenty-five cloud IPOs and major cloud acquisitions over the past three years have been prior members of the Cloud 100, and we absolutely expect that the dominant public cloud companies of the future will also come from this list,” said Byron Deeter, a top cloud investor and partner at Bessemer Venture Partners. “The 2018 Cloud 100 represents well over $135B in private shareholder value--an astonishing figure that reminds us yet again of the power of the cloud. The way we do business will be dramatically different as a result of these companies and I am honored to celebrate the remarkable accomplishments of the founders and teams behind each company on the 2018 Cloud 100.”
“The business opportunity for cloud companies is tremendous today as capital investment, customer demand and rate of adoption continues to grow,” said Matt Garratt, Managing Partner, Salesforce Ventures. “We’re excited to see the potential of these companies and look forward to seeing what innovative technology they deliver around the world.”
The Forbes 2018 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2018 issue of Forbes magazine.
ThoughtSpot, the leader in search & AI-driven analytics for the enterprise, is helping the largest companies in the world succeed in the digital era by putting the power of a thousand analysts in every business person's hands. With ThoughtSpot’s next-generation analytics platform, business people can use Google-like search to easily analyze complex, large-scale enterprise data and get trusted insights to questions they didn’t know to ask, automatically - all with a single click. ThoughtSpot connects with any on-premise, cloud, big data, or desktop data source, deploying 85 percent faster than legacy technologies. Customers like Amway, Bed Bath and Beyond, BT, Celebrity Cruises, Chevron Federal Credit Union, De Beers, PetCo and Scotiabank have put ThoughtSpot at the core of their business processes. With ThoughtSpot, business leaders and frontline workers alike have made more than 3 million data informed decisions per year.
ThoughtSpot was co-founded in 2012 by Ajeet Singh, former co-founder and Chief Product Officer at Nutanix, the largest tech IPO of 2016, and is currently led by CEO Sudheesh Nair. With a founding team coming from Google, Amazon, and Facebook, ThoughtSpot has raised over $300M in funding from Lightspeed Venture Partners, Khosla Ventures, General Catalyst Partners, Sapphire Ventures, Geodesic Capital, and Capital One Growth Ventures. The company is headquartered in Palo Alto, with offices in Seattle, London, and Bangalore. For more information please visit www.thoughtspot.com.