In recent news, twelve Israeli-based companies have been named to be on a quite special list. The Cloud 100 features business startups and this year, has decided to name some companies founded in Israel. Forbes, the popular American business magazine has ranked some of the world’s best private cloud companies to be on its Cloud 100 List this year.
As per the American business magazine, even in its fifth year, the list does not fail to take into account standouts in the business world. Forbes prides itself for recognizing exceptional work in the hottest category of tech. They stated that they have chosen various startups, whether small or private-equity-backed giants. The Cloud 100 List has a distinctive variety of businesses ranging from Australia and Hong Kong to Silicon Valley.
The companies that made the list did so due to their sales, growth, culture, and valuation. Most importantly, they were evaluated based on their reputation score. This was derived after consulting with nearly 43 CEO executives and judges belonging to their peers in the public-cloud-company.
Bessemer Venture Partners, an American venture capital firm, partnered up with Forbes to produce a round-up. They were also helped along by the well-known American cloud-based software company, Salesforce. Their investment arm, Salesforce Ventures, was an active part of the round-up.
All the companies chosen to be on the list belonged to various sectors such as data, retail, sales, cloud infrastructure, real estate, design, and cybersecurity.
According to the American business magazine, even the Covid-19 pandemic was unable to slow these startups down. It is due to them that the Cloud 100 List is stronger than it has ever been. A record was set with this year’s list, where the combined value came to a figure of $270 billion. Nearly 87 companies chosen have been valued at $1 billion or above. This was a significant improvement from last year’s 65.
The companies that ranked in the top five of the Cloud 100 List included one firm from New York and four firms, which are headquartered in California. At the top of the list this year was a company by the name Snowflake. It is a cloud-based warehousing company founded in San Mateo, California. It took the spot at the top mere hours before it graduated from the list. This was because the company made its first Initial Public Offering (IPO) that day.
Stripe, an online payments processing startup for San Francisco based internet businesses, came in second. This company has been at the top of the Cloud 100 List for three years in a row until this year, when it dropped to number two. UiPath, a global software company based in New York, took the third spot. They are a firm working to develop a platform and ensure robotic process automation. The fourth and fifth positions were taken up by two companies from San Francisco. An infrastructure automation startup, Hashi Corp, and an AI-focused database company, Data bricks proudly took their respective spots as number four and five.