HashiCorp Named #4 on the Forbes 2020 Cloud 100 List for the Second Year in a Row

SAN FRANCISCO, Sept. 16, 2020 (GLOBE NEWSWIRE) -- HashiCorp®, the leader in multi-cloud infrastructure automation software, has been named #4 on the Forbes 2020 Cloud 100 for the second consecutive year. After moving from #32 to #4 in 2019, HashiCorp retained its Top 5 ranking this year. The Forbes Cloud 100 is 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.

“It is an honor to be recognized as one of the top private cloud companies for the third year in a row,” said Dave McJannet, CEO of HashiCorp. “Large organizations have accelerated the drive to run their IT infrastructure on multiple clouds in order to provide the flexibility their businesses need. HashiCorp products and our cloud platform are at the core of the cloud operating models for these companies — using automation to ensure consistent, cost-effective workflows across all parts of their complex environments.”

HashiCorp’s open source products have been downloaded tens of millions of times and commercial versions of those products have emerged as the de facto standard in Global 2000 environments to deploy and operate cloud infrastructure across multiple providers and with on-premises systems. The products’ modular and open design enables them to be widely used across a rich ecosystem of cloud and infrastructure environments including Alibaba Cloud, AWS, Google Cloud, Microsoft Azure, Oracle Cloud, and VMware.

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 16 from 9 a.m. PT to 12 noon PT hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank you to virtual event sponsors Amazon Web Services (AWS), Bank of America, Cooley, FuelxMcKinsey, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nasdaq, Qatalyst Partners, Silicon Valley Bank, Simon-Kucher & Partners, and WisdomTree.

About HashiCorp
HashiCorp is the leader in multi-cloud infrastructure automation software. The HashiCorp software suite enables organizations to adopt consistent workflows to provision, secure, connect, and run any infrastructure for any application. HashiCorp open source tools Vagrant^TM, Packer^TM, Terraform^®, Vault^TM, Consul^®, and Nomad^TM are downloaded tens of millions of times each year and are broadly adopted by the Global 2000. Enterprise versions of these products enhance the open source tools with features that promote collaboration, operations, governance, and multi-datacenter functionality. The company is headquartered in San Francisco, though 85 percent of HashiCorp employees work remotely, strategically distributed around the globe. HashiCorp is backed by Bessemer Venture Partners, Franklin Templeton, Geodesic Capital, GGV Capital, IVP, Mayfield, Redpoint Ventures, T. Rowe Price funds and accounts, and True Ventures. For more information, visit https://www.hashicorp.com or follow HashiCorp on Twitter @HashiCorp.

Media and Analyst Contact:
Kate Lehman
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