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SAN FRANCISCO, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Vlocity Inc., a leading provider of industry-specific cloud software, 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 partnership with Bessemer Venture Partners and Salesforce Ventures. This is Vlocity’s third consecutive year on the list, in recognition of its hyper growth and position as a cloud innovator that helps enterprises drive digital transformation and dramatic customer experience improvements across multiple vertical industries. Vlocity ranks #24 on this year’s list.
“We are honored to be recognized for a third consecutive year by Forbes, Bessemer and Salesforce as one of the world’s leading cloud software companies,” said David Schmaier, CEO and Founder of Vlocity. “This is a testament to the strong commitment of our customers, partners and employees, and further validates our vision that the best customer experiences are industry-specific and the ‘industry cloud’ is the next evolution of cloud software.”
Schmaier added: “In the past year, we’ve helped our customers transform their industries, added dozens of new brand-name enterprise customers, expanded and deepened our product portfolio, introduced a sixth vertical (media & entertainment), closed our Series C round of funding, and strengthened our leadership team.”
Vlocity customers include more than 125 large enterprises and emerging players in six specific industries: Communications; Media & Entertainment; Energy & Utilities; Insurance; Health; and Government. Vlocity’s cloud and mobile applications embed deep industry-specific functionality, best practices and business processes, building on the omnichannel capabilities of the Salesforce Platform. This combination enables companies to achieve greater business agility and time-to-value in the cloud, while delivering unified customer experiences across channels and devices.
As part of the rigorous selection process 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 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 the average valuation on this year’s list spiked to $1.7 billion. Our 2019 Cloud 100 includes over 60 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. In total, already 25 Cloud 100 alumni have gone public, and dozens have been acquired for over $1 billion each. Congratulations to these cloud leaders!”
“There has been tremendous growth in the cloud market in recent years, as more and more companies are adopting cloud technologies to enable their digital transformation and change how they do business. The opportunity is massive in the cloud sector, which is evident in both the public and private sectors. There are now more than 15 public SaaS companies valued at over $10B whereas even 5 years ago there were only 2,” said Matt Garratt, Managing Partner, Salesforce Ventures. “The growth we are seeing is not limited to the Bay Area and San Francisco, as we are seeing more $1B+ cloud companies spring up throughout the U.S. and globally. Salesforce Ventures is excited to be partnering with Bessemer Venture Partners and Forbes for the fourth year in a row 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 – but with more elite company if you do. Congratulations to each of the 2019 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!”
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 120 million people worldwide through its trusted journalism, signature LIVE 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: https://www.forbes.com/forbes-media/.
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures — the company’s corporate investment group — invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 300 enterprise cloud startups in 20 different countries since 2009. For more information, please visit www.salesforce.com/ventures.
Vlocity is a leading provider of industry-specific cloud and mobile software, driving digital transformation for the world’s largest companies. A three-time Forbes Cloud 100 winner, Vlocity is an “industry cloud” pioneer built in partnership with Salesforce, the world’s #1 CRM provider. Vlocity’s industry cloud software increases agility, operational efficiency and simplicity at a lower cost of ownership for the enterprise. Vlocity’s industry cloud software transforms customer-centric processes and fuels innovation in the Communications, Media & Entertainment, Energy & Utilities, Insurance, Health, and Government vertical industries. Vlocity’s values of trust, transparency and transformation enable customer, partner and employee success.
© 2019. Vlocity, Inc. All rights reserved. Vlocity and the Vlocity logo are registered trademarks of Vlocity, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders. Salesforce and others are among the trademarks of salesforce.com, Inc.
Dave Reddy, Big Valley Marketing for Vlocity
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