SAN FRANCISCO, Calif. — August 9, 2022 — ThoughtSpot, the Modern Analytics Cloud company, has been named to the Forbes 2022 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. This marks the fifth consecutive year ThoughtSpot has been named to the list, after being included for the first time in 2018, and each year since.
ThoughtSpot was recognized for its continued innovation in the cloud analytics space, including the launch of a new suite of capabilities that empower customers to put the best components of the modern data stack in the hands of every employee, as well as new editions to enable companies of any size to take advantage of the ThoughtSpot platform.
“Successful organizations today know they need to build their business on a modern data stack if they want to operate with agility, essential during times of economic uncertainty and unpredictability. Our customers are able to realize the full flexibility and value of their cloud data by empowering their entire team to ask questions of their data, get real-time answers based on Live Analytics, and use those insights to drive action. It’s also why we just closed our largest financial year in company history. As data becomes the rudder for organizations, companies are doubling down on a new breed of Live Analytics. We’ll continue to push the boundaries on innovation on behalf of our customers and help them dominate the decade of data,”said Sudheesh Nair, CEO, ThoughtSpot.
For the seventh straight year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.
“The companies of the Cloud 100 list represent the best and brightest private companies in this fast-growing sector,” said Alex Konrad, senior editor at Forbes. “Every year, it gets more difficult to make this list — meaning even more elite company for those who do. Congratulations to each of the 2022 Cloud 100 honorees.”
“The public markets may be in turmoil, but the private valuations of the Cloud 100 continue to rise. All of the 2022 Cloud 100 honorees, again, have reached the $1 billion valuation milestone, and the average Cloud 100 valuation has skyrocketed to $7.4 billion,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “Despite the market correction in 2022, our confidence in the cloud economy continues to grow—today over 70% of the 2022 Cloud 100 Honorees have reached or exceeded $100 million in annual recurring revenue making them cloud Centaurs. An additional 10% of the list is expected to hit this milestone by the end of the year, furthering our conviction that this years’ honorees truly represent the best cloud companies globally.”
“Great companies are born out of all environments, and it’s exciting to see the continued momentum in the cloud sector,” said Alex Kayyal, Managing Partner, Salesforce Ventures. ”The companies on this list have gone through a rigorous selection process, and join an esteemed alumni list of Cloud 100 companies. As the need for digital transformation continues to drive innovation and efficiencies across industries, we can look to these companies as the absolute best in cloud computing.“
The Forbes 2022 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2022 issue of Forbes magazine.
ThoughtSpot is the Modern Analytics Cloud company. Our mission is to create a more fact-driven world with the easiest to use analytics platform. With ThoughtSpot, anyone can leverage natural language search and AI to find data insights and tap into the most cutting edge innovations the cloud data ecosystem has to offer. Companies can put the power of their modern data stack in the hands of every employee, extend the value of their data to partners and customers, and automate entire business processes. ThoughtSpot enables everyone within an organization to limitlessly engage with live data regardless of their cloud data platform, making it easy to achieve granular, actionable insights through Live Analytics. Customers can take advantage of ThoughtSpot’s web and mobile applications to improve decision making for every employee. With ThoughtSpot’s developer-friendly platform, ThoughtSpot Everywhere, customers can also bring the Modern Analytics Cloud to their products and services, engaging users and keep them coming back for more. Organizations like T-Mobile, BT, Snowflake, HubSpot, Exxon, Daimler, Medtronic, Hulu, Royal Bank of Canada, Nasdaq, OpenTable, Workato, and Nationwide Building Society rely on ThoughtSpot to transform how their employees and customers take advantage of data. See for yourself and try ThoughtSpot today.
Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and has $19 billion of regulatory assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).
Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 150 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 47 licensed local editions in 80 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements.
Salesforce Ventures helps enterprising founders build companies that reinvent the way the world works. Since 2009, we’ve invested in and partnered with more than 400 of the world’s most tenacious enterprise software companies from seed to IPO, including Airtable, Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium, and Zoom. Salesforce Ventures leverages our decades of expertise in the cloud and our long-term relationships with key decision-makers at thousands of businesses around the world to give our portfolio companies an unfair advantage, help them build credibility, and accelerate growth. Salesforce Ventures has invested in more than 25 countries with offices all over the world including in San Francisco, Irvine, New York, London, Tokyo, and Sydney. Follow @SalesforceVC and learn more at http://www.salesforceventures.com.
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