“Being named to the Forbes Cloud 100 is the highlight of my year – not just because Outreach is on the list – but because almost 60% of the companies listed are Outreach customers!” said Manny Medina, CEO of Outreach. “The companies that make this list have a history of doing great things in not just the cloud space, but in the technology space overall. These high growth companies are generating new jobs and inspiring confidence in tech markets. We are honored that Outreach is part of the Forbes Cloud 100 for the third time and proud to be the only Sales Engagement Platform on the list. Congratulations to everyone for being listed on the Forbes 2020 Cloud 100.”
The Forbes Cloud 100 is published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. As part of the rigorous selection process for The Forbes 2020 Cloud 100, Bessemer Venture Partners received submissions from hundreds of cloud startups. The Cloud 100 Judging Panel, made up of public cloud company CEOs, reviewed the data to select, score, and rank the top 100 private cloud companies from all over the world. The evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%).
“The private cloud ecosystem continues to mature in light of rapid digital transformations, making the competition to land one of the coveted spots on the Cloud 100 list steeper than ever,” said Byron Deeter, a top cloud investor, and partner at Bessemer Venture Partners. “Private cloud valuations are getting bigger as the market’s appetite for cloud continues to grow. Over the past five years, the average Cloud 100 valuation has grown by a tremendous 2.5x, from $1 billion in 2016 to $2.7 billion in 2020. In fact, our 2020 Cloud 100 includes over 87 private cloud unicorns! These founders represent the absolute best in cloud computing today, and they will most certainly follow in the footsteps of our esteemed Cloud 100 alumni. More than a third of the companies of the Cloud 100 have exited either via strategic M&A, financial M&A or Initial Public Offering. Congratulations to these cloud leaders!”
“In the face of this unprecedented time, digital is an urgent imperative, and the pace of innovation is accelerating. Companies around the globe, across all industries must adopt cloud technologies to enable their digital transformation,” said Matt Garratt, Managing Partner, Salesforce Ventures. “The opportunity is massive for the cloud — there are now more than 25 public SaaS companies valued at over $10 billion whereas even five years ago there were only three. Sectors from collaboration and security to retail and healthcare, are being disrupted and becoming more digital. Salesforce Ventures is excited to be partnering with Bessemer Venture Partners and Forbes for the fifth year in a row to recognize those who are not just predicting what’s coming but working to create the future.”
“For five years now, we have ranked the best and brightest emerging companies in the cloud sector,” said Alex Konrad, Forbes editor of The Cloud 100. “With so many businesses growing fast in the cloud, from data infrastructure to marketing, it’s harder than ever to make the Cloud 100 list – but with more elite company if you do. Congratulations to each of the 2020 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!”
The past year for Outreach has been marked by significant milestones showcasing its exponential growth. The tech unicorn recently closed a $50 million round of funding led by Sands Capital with participation by Salesforce Ventures, bumping its valuation up to $1.33 billion. The company also expanded its geographic reach, opening its first two international offices in London and Prague and tripling East Coast coverage with an expansion to New York. Outreach recruited more top tech talent, with regional VPs to lead the new offices, a Chief Financial Officer, Chief People Officer, and tech veteran Sue Bostrom joining the board. Outreach was listed as the fourth fastest growing company on Deloitte’s 2019 Technology Fast 500 and named a leader in The Forrester Wave™: Sales Engagement Q3 2020 report.
The Forbes 2020 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2020 issue of Forbes magazine.
Outreach is the number one sales engagement platform with the largest customer base and industry-leading usage. Outreach helps companies dramatically increase productivity and drive smarter, more insightful engagement with their customers. More than 4,500 companies such as Adobe, Tableau, DoorDash, Splunk, DocuSign, and SAP depend on Outreach’s enterprise-scale, unparalleled customer adoption, and robust AI-powered innovation. Outreach is a privately held company based in Seattle, Washington. To learn more, please visit www.outreach.io.
About Bessemer Venture Partners
Bessemer Venture Partners is the world’s most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter, and supports them through every stage of their growth. The firm has backed more than 120 IPOs, including Pinterest, Shopify, Yelp, LinkedIn, Skype, LifeLock, Twilio, SendGrid, PagerDuty, DocuSign, Wix, and MindBody. Bessemer’s 15 partners operate from offices in Silicon Valley, San Francisco, New York City, Boston, Israel, and India. For more information, please visit www.bvp.com.
The defining voice of entrepreneurial capitalism, 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 160 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 40 licensed local editions in 70 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements. For more information, visit the Forbes News Hub or Forbes Connect.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world’s largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory, and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 400 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom, and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.