DigitalOcean Named to Forbes 2020 Cloud 100 List for Fifth Consecutive Year
NEW YORK, Sept. 16, 2020 (GLOBE NEWSWIRE) -- DigitalOcean, the cloud for developing modern apps, today announced it has been included on the 2020 Forbes Cloud 100 List. Published by Forbes in collaboration with Bessemer Venture Partners and Salesforce Ventures, the Cloud 100 is the definitive ranking of the top private cloud companies in the world.
“From the beginning, DigitalOcean has focused on delivering reliable cloud services that make it simple for developers and SMBs to launch and scale their businesses,” said Yancey Spruill, CEO of DigitalOcean “This year we honored our commitment to our value that ‘Community is bigger than just us’ by starting Hub for Good,’ a program that supports and invests in community-driven projects that provide COVID-19 relief and work toward social justice and equality. Today’s recognition from Forbes is a true testament to the work we’ve done to help grow the next generation of businesses.”
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. 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 lit — 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!”
Since it was founded in 2012, DigitalOcean has grown to serve more than 500,000 customers globally with a community that is more than 4 million developers strong. In the last year alone, the company released its Virtual Private Cloud (VPC) offering, bringing enhanced security features to private networking services, and introduced DigitalOcean Managed Databases, which supports PostgreSQL, MySQL and Redis — three of the most widely requested databases.
Additionally, DigitalOcean recently released its newest version of its Currents report, which highlights the latest trends among developers in the cloud. This report focused on how the global pandemic has affected SMBs technology-wise, and where SMB priorities lie in cloud spending, IT security, and hiring. The full report is available for download here.
For more information on DigitalOcean, visit https://www.digitalocean.com.
The Forbes 2020 Cloud 100 list is published online at www.forbes.com/cloud100 and will appear in the September 2020 issue of Forbes magazine.
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