ThoughtSpot Named To Forbes 2020 Cloud 100 List for Third Consecutive Year

Explosive growth, strong culture of innovation, and customer success contribute to search and AI-driven analytics pioneer’s ranking as a top cloud computing company

SAN FRANCISCO, Calif. — September 16, 2020 — ThoughtSpot, the leader in search and AI-driven analytics for the enterprise, has been named to the 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 Salesforce Ventures. This marks the third consecutive year ThoughtSpot has been named to the list, after being included for the first time in 2018 and again in 2019.

“As the world has become more digital, agility and customer centricity have become requirements for modern businesses. The pandemic has exponentially accelerated these trends. Now, more than ever, organizations need the flexible and nimble capabilities only the cloud can deliver,” said Sudheesh Nair, CEO at ThoughtSpot. “As enterprises move more and more serious workloads and applications to the cloud, we’ve taken a deliberate strategy to help them unlock their data, whether that's in Snowflake, Amazon Redshift, Google BigQuery or other popular cloud data warehouses. Today’s recognition from Forbes as one of the top 100 cloud companies is a testament to ThoughtSpot’s commitment to unleashing the full power of cloud data for every employee, empowering organizations to truly digitally transform in the process.”

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!”

The Forbes 2020 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2020 issue of Forbes magazine.

The Cloud 100 and the 20 Rising Stars companies are publicly recognized at this year’s first-ever virtual Cloud 100 with memorable discussions from top cloud CEOs at thecloud100.com on September 16th from9:00am PT -12:00pm PT hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank you to our virtual event sponsors Amazon Web Services (AWS), Bank of America, Cooley, Fuel McKinsey, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nasdaq, Qatalyst Partners, Silicon Valley Bank, Simon-Kucher & Partners, and WisdomTree. 

About ThoughtSpot

The world’s most innovative enterprises use ThoughtSpot to empower every person in their organization, from C-suite executive to frontline employee, with the ability to quickly uncover data-driven insights. With ThoughtSpot, business people can type a simple search to instantly analyze billions of rows of data, and leverage artificial intelligence to get trusted, relevant insights pushed to them as answers to thousands of questions they might not have thought to ask. ThoughtSpot is simple enough for any business person to use, yet powerful enough to handle even the largest, most complex enterprise data without sacrificing speed, security, or governance. That’s why customers like Walmart, BT, Daimler, Medtronic, Hulu, Royal Bank of Canada, Bank of the West, Siemens, and Nationwide Building Society have turned to ThoughtSpot to transform their decision-making cultures. By making insights a part of every conversation and every decision, ThoughtSpot is reimagining the role of data in creating a more fact-driven world. For more information, please visit www.thoughtspot.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.

About Forbes

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. TheForbes 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 joinPledge 1%to make giving back part of their business model. Salesforce Ventures has invested in more than 400companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom, and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.