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SAN FRANCISCO, Sept. 13, 2018 (GLOBE NEWSWIRE) -- FinancialForce, a leading customer-centric ERP and Professional Services Automation (PSA) cloud solution native to the Salesforce Platform, has been named to the Forbes 2018 Cloud 100, the definitive list of the top 100 private cloud companies in the world, published by Forbes in collaboration with Bessemer Venture Partners and Salesforce Ventures.
“It’s an honor to be recognized by Bessemer Venture Partners, Forbes and Salesforce Ventures as one of the top 100 private cloud companies in the world,” said Tod Nielsen, FinancialForce President and CEO. “The cloud revolution has been vital to the new services economy as we help companies rapidly evolve their business models with customers at the center. The momentum FinancialForce experienced over the past 18 months underscores our belief that speed is the new currency in a services-led economy, and we look forward to our ongoing momentum as well as inspiring future cloud leaders.”
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.
FinancialForce will host its Business Unlimited VIP Experience at Fogo de Chão during Dreamforce in San Francisco September 25-28. Join industry leaders, FinancialForce executives and product experts for business strategy discussions, educational sessions, and networking. For more information and to register to attend, click here.
FinancialForce is the leading cloud ERP for the new services economy. A key ERP solution native to the Salesforce platform, FinancialForce unifies data across the enterprise in real-time, enabling companies to rapidly evolve their business models with customers at the center. Founded in 2009 and headquartered in San Francisco, FinancialForce is backed by Salesforce Ventures, Technology Crossover Ventures, Advent International, and UNIT4. For more information, visit financialforce.com.
Vice President, Global Communications