Key Takeaways
- • Bessemer Venture Partners, Forbes, and Salesforce Ventures opened nominations for the seventh annual Forbes Cloud 100 list, representing the definitive ranking of the world's top 100 private cloud companies plus 20 Rising Stars candidates.
- • The 2021 Cloud 100 cohort reached an aggregate valuation of $518 billion, a 94% year-over-year increase from $267 billion in 2020, with all list honorees exceeding the $1 billion valuation threshold for the first time.
- • Thirteen 2021 Cloud 100 honorees have already exited through IPO or M&A, including HashiCorp, Toast, Freshworks, GitLab, Mailchimp, Samsara, Braze, Amplitude, Lucid, Weave, AvidXchange, Riskified, and DISCO—demonstrating the list's predictive value for institutional investors.
- • Cloud stocks continue to outperform the Rule of 40 benchmark despite 2022 market pullback, signaling durable business fundamentals across the private cloud sector despite broader technology volatility.
- • Global tech IPO activity reached approximately $150 billion in 2021 with a 70% year-over-year increase, positioning technology as the top-performing sector by proceeds and deal activity.
Summary
Bessemer Venture Partners has announced that nominations are officially open for the 2022 Forbes Cloud 100 list, marking the seventh consecutive year of the collaborative initiative with Forbes and Salesforce Ventures. The program identifies the world's top 100 private cloud companies alongside an emerging cohort of 20 Rising Stars positioned for future elevation.
The 2021 Cloud 100 cohort demonstrated extraordinary valuation growth, reaching an aggregate worth of $518 billion compared to $267 billion in 2020—representing a 94% year-over-year increase. For the first time, all list honorees achieved valuations exceeding $1 billion, establishing this threshold as the de facto market benchmark for elite private cloud companies. This valuation milestone reflects intensifying investor appetite for proven cloud business models despite broader macroeconomic headwinds anticipated in 2022.
The list has proven highly predictive of successful exits. Since the 2021 rankings were published in August, 13 honorees have already graduated through either initial public offering or merger and acquisition activity. These exits include HashiCorp (#4), Toast (#5), Freshworks (#10), GitLab (#11), Mailchimp (#14), Samsara (#19), Braze (#23), Amplitude (#37), Lucid (#55), Weave (#63), AvidXchange (#78), Riskified (#81), and DISCO (#85). This high exit velocity underscores the institutional quality of companies captured by the Cloud 100 selection methodology.
Despite anticipated market pullback in 2022, cloud equities have demonstrated resilience. Companies within the BVP Cloud Index consistently outperform the Rule of 40 benchmark, a metric measuring the sum of revenue growth rate and profit margin. This performance differential suggests the Cloud 100 cohort exemplifies sector-leading capital efficiency and sustainable unit economics. Global technology IPO activity reached approximately $150 billion in 2021 with a 70% year-over-year increase, establishing technology as the top-performing sector by both deal proceeds and transaction volume. Bessemer positions the Cloud 100 cohort as bellwethers for emerging innovation patterns across verticals and geographies, with continued relevance to institutional allocators evaluating private cloud market leadership.
The 2021 Cloud 100 cohort demonstrated extraordinary valuation growth, reaching an aggregate worth of $518 billion compared to $267 billion in 2020—representing a 94% year-over-year increase. For the first time, all list honorees achieved valuations exceeding $1 billion, establishing this threshold as the de facto market benchmark for elite private cloud companies. This valuation milestone reflects intensifying investor appetite for proven cloud business models despite broader macroeconomic headwinds anticipated in 2022.
The list has proven highly predictive of successful exits. Since the 2021 rankings were published in August, 13 honorees have already graduated through either initial public offering or merger and acquisition activity. These exits include HashiCorp (#4), Toast (#5), Freshworks (#10), GitLab (#11), Mailchimp (#14), Samsara (#19), Braze (#23), Amplitude (#37), Lucid (#55), Weave (#63), AvidXchange (#78), Riskified (#81), and DISCO (#85). This high exit velocity underscores the institutional quality of companies captured by the Cloud 100 selection methodology.
Despite anticipated market pullback in 2022, cloud equities have demonstrated resilience. Companies within the BVP Cloud Index consistently outperform the Rule of 40 benchmark, a metric measuring the sum of revenue growth rate and profit margin. This performance differential suggests the Cloud 100 cohort exemplifies sector-leading capital efficiency and sustainable unit economics. Global technology IPO activity reached approximately $150 billion in 2021 with a 70% year-over-year increase, establishing technology as the top-performing sector by both deal proceeds and transaction volume. Bessemer positions the Cloud 100 cohort as bellwethers for emerging innovation patterns across verticals and geographies, with continued relevance to institutional allocators evaluating private cloud market leadership.
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