Yotpo, a leading eCommerce Marketing Platform, has been named to the Forbes 2019 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in association with Bessemer Venture Partners and Salesforce Ventures.
Tomer Tagrin, CEO & Co-founder, Yotpo said that “We have been incredibly fortunate to help power the growth of the most progressive brands leading the direct-to-consumer movement, which in turn has inspired us to push the boundaries of marketing technology for eCommerce. Yotpo’s eCommerce Marketing Platform helps these brands forge a deeper connection with consumers and create unparalleled shopping experiences. Our growth and inclusion on Forbes’ Cloud 100 list is a testament to our team’s brilliance and customer-first approach.”
As part of the strict selection procedure for the Forbes 2019 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 information to select, score, and rank the top 100 private cloud businesses from all around the world. The assessment process involved ranking companies over four important factors, that are market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%).
Byron Deeter, a top cloud investor, and partner at Bessemer Venture Partners congratulated the founders of the organizations and said that the private cloud ecosystem has matured, making the competition to land one of the coveted spots on the Cloud 100 list steeper than ever. He further added that in fact, the average valuation of a company on Bessemer inaugural list just four years ago was $1 billion, while the average valuation on this year’s list spiked to $1.7 billion. Forbes 2019 Cloud 100 includes over 60 private cloud unicorns! These founders resemble the absolute best in cloud computing today, and they will most certainly follow in the footsteps of their esteemed Cloud 100 alumni. In total, already 25 Cloud 100 alumni have gone public, and more have been acquired for over $1 billion each.
Matt Garratt, Managing Partner, Salesforce Ventures said that there has been tremendous growth in the cloud market in past few years, as more and more companies have started adopting cloud technologies to enable their digital transformation and change how they run their business. The opportunity is massive in the cloud sector, which is apparent in both the public and private sectors. There are now more than 15 public SaaS companies valued at over $10B whereas half a decade back there were only 2. This growth is not only in selected areas, it’s all over the world.
Alex Konrad, Forbes editor of The Cloud 100 stated that for four years now, they have ranked the best and brightest emerging companies in the cloud sector. With so many companies growing rapidly in the cloud, from cybersecurity and marketing to data analytics and storage, it’s difficult than ever to make the Cloud 100 list, but with the more elite company. He also congratulated to the honorees of 2019 Cloud 100 and the 20 Rising Stars.