WalkMe Receives Forbes Cloud 100 Recognition for the Fifth C
SAN FRANCISCO, Sept. 16, 2020 /PRNewswire/ -- WalkMe, the leading digital adoption platform and one of the fastest growing companies globally, today announced its inclusion in Forbes 2020 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 – for the fifth consecutive year. The global Digital Adoption unicorn continues to define the category at a time when cloud migration has become a business continuity imperative.
The sudden upheaval as a result of COVID-19 forced companies to rush to adopt cloud technologies in order to accelerate their pace of change, ensure the longevity of their business, and adapt to the reality of a distributed workforce. In fact, organizations with over 250 employees use at least 123 SaaS applications and the typical mid-large size company changes about 40% of their entire SaaS stack every two years. Additionally, the average enterprise uses 464 custom applications at any given time, and develops and deploy 37 new applications every 12 months. So even though the investment in SaaS applications continues to grow, organizations are still not reaping the digital value.
With this mass movement to cloud, savvy business leaders are seeking an all-encompassing digital adoption platform to make data-driven decisions at pace. As the digital adoption leader – holding more than half of the global revenue share in the DAP market – WalkMe is the single source of truth for senior leadership looking to develop a nuanced understanding of how technology is being utilized across their organization to effectively achieve business ROI.
With the full power of the WalkMe platform, including WalkMe Workstation, executives enjoy full visibility into the entire tech stack and the assurance that applications are being adopted everywhere. Companies with a high level of cloud maturity backed by WalkMe have not only been able to deploy solutions that deliver continuity for their customers, clients, and employees, but thrive amidst market uncertainty.
"For many organizations the cloud has been a lifeline, allowing them the flexibility to pivot their operating models and successfully weather the macroeconomic storms of the past six months, something that would have been impossible five years ago," said Dan Adika, CEO and Co-Founder of WalkMe. "As a Cloud 100 honoree, we recognize the transformational potential of the cloud services ecosystem and believe that we are now entering into the next era of cloud that will focus on true digital adoption and business ROI."
As part of the rigorous selection process for the Forbes 2020 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 continues to mature in light of rapid digital transformations, 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. "Private cloud valuations are getting bigger as the market's appetite for cloud continues to grow. Over the past five years, the average Cloud 100 valuation has grown by a tremendous 2.5x, from $1 billion in 2016 to $2.7 billion in 2020. In fact, our 2020 Cloud 100 includes over 87 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. More than a third of the companies of the Cloud 100 have exited either via strategic M&A, financial M&A or Initial Public Offering. Congratulations to these cloud leaders!"
"In the face of this unprecedented time, digital is an urgent imperative, and the pace of innovation is accelerating. Companies around the globe, across all industries must adopt cloud technologies to enable their digital transformation," said Matt Garratt, Managing Partner, Salesforce Ventures. "The opportunity is massive for the cloud -- there are now more than 25 public SaaS companies valued at over $10 billion whereas even five years ago there were only three. Sectors from collaboration and security to retail and healthcare, are being disrupted and becoming more digital. Salesforce Ventures is excited to be partnering with Bessemer Venture Partners and Forbes for the fifth year in a row to recognize those who are not just predicting what's coming but working to create the future."
"For five 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 data infrastructure to marketing, it's harder than ever to make the Cloud 100 list – but with more elite company if you do. Congratulations to each of the 2020 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!"
WalkMe empowers every organization to realize the promise of its technology. As the defining leaders in digital adoption, WalkMe's insights, guidance, engagement, and automation platform enables leaders with visibility into digital usage to make data-driven decisions, and streamlines user experiences for employees and customers. For more information, visit: www.walkme.com
About 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 160 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual 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 the Forbes News Hub or Forbes Connect.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world's largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory, and operating support, and can easily join Pledge 1% to make giving back part of their business model.
Salesforce Ventures has invested in more than 400 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom, and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.