Outreach, the leading sales engagement platform, has been named to the 2019 Forbes Cloud 100 – recognized as one of the top private cloud companies in the world. The Forbes Cloud 100, produced by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures, showcases private cloud companies that stand out for their growth, sales, valuation, and culture. This year’s ranking marks the company’s third appearance on the coveted list.
Outreach has experienced incredible growth and a rapid trajectory. The company achieved “unicorn” status, achieving a valuation of over $1B in April 2019 – which Forbes predicted when it called out the company as one of its “Next Billion-Dollar Startups” in 2017. Outreach has been doubling revenue every year for the past three years and now has more than 3,500 customers, from fast-growing startups to Fortune 500 enterprise companies.
“While growth is clearly exciting and an important milestone, what is truly rewarding for me – and our employees – is how Outreach is fundamentally changing the way companies, and their sales teams, engage with current and potential customers,” said Manny Medina, CEO of Outreach. “By applying machine learning and AI, we are able to offer real-time insights, resulting in dramatic increases in sales productivity with more deals closed and happier, engaged customers. We are grateful to Forbes and its partners for recognizing our market leadership as we continue to deliver the innovation and results our customers have come to expect from Outreach.”
As part of the rigorous selection process for the Forbes 2019 Cloud 100, Bessemer Venture Partners received submissions from hundreds of cloud startups. The 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 has matured, 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. “In fact, the average valuation of a company on our inaugural list just four years ago was $1 billion, while this year’s list spiked to $1.7 billion. Our 2019 Cloud 100 includes over 60 private cloud unicorns. Congratulations to these cloud leaders!”
“The growth we are seeing is not limited to the Bay Area, as we are seeing more $1B+ cloud companies spring up throughout the U.S. and globally,” said Matt Garratt, Managing Partner, Salesforce Ventures. “We are excited to be partnering with Bessemer Venture Partners and Forbes for the fourth year to recognize the next generation companies who will land on the Cloud 100 list—those who are not just predicting what’s coming but working to create the future.”
“For four 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 cybersecurity and marketing to data analytics and storage, it’s harder than ever to make the Cloud 100 list. Congratulations to each of the 2019 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!”
The 2019 Forbes Cloud 100 is published online at www.forbes.com/cloud100 and will appear in the September 2019 issue of Forbes magazine.