SAN FRANCISCO, Sept. 12, 2019 (GLOBE NEWSWIRE) -- Sumo Logic, the leader in continuous intelligence, today announced it has been named to the Forbes 2019 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.
“Four years ago, when Sumo Logic first hit the Forbes Cloud 100 list, we defined a new category of software called Continuous Intelligence and companies were in large part just starting their cloud journey,” said Aaron Feigin, chief communications officer, Sumo Logic. “Today, the world is firmly cloud-first and Sumo Logic, along with our community, is working hard to help every business from every industry digitally transform and thrive in the Intelligence Economy.”
As part of the rigorous selection process for the Forbes 2019 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 has matured, 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. “In fact, the average valuation of a company on our inaugural list just four years ago was $1 billion, while the average valuation on this year’s list spiked to $1.7 billion. Our 2019 Cloud 100 includes over 60 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. In total, already 25 Cloud 100 alumni have gone public, and dozens have been acquired for over $1 billion each. Congratulations to these cloud leaders!”
“There has been tremendous growth in the cloud market in recent years, as more and more companies are adopting cloud technologies to enable their digital transformation and change how they do business. The opportunity is massive in the cloud sector, which is evident in both the public and private sectors. There are now more than 15 public SaaS companies valued at over $10B whereas even 5 years ago there were only 2,” said Matt Garratt, Managing Partner, Salesforce Ventures. “The growth we are seeing is not limited to the Bay Area and San Francisco, as we are seeing more $1B+ cloud companies spring up throughout the U.S. and globally. Salesforce Ventures is excited to be partnering with Bessemer Venture Partners and Forbes for the fourth year in a row to recognize the next generation companies who will land on the Cloud 100 list—those who are not just predicting what’s coming but working to create the future.”
“For four 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 cybersecurity and marketing to data analytics and storage, it’s harder than ever to make the Cloud 100 list – but with more elite company if you do. Congratulations to each of the 2019 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!”
This recognition comes on the heels of Sumo Logic’s recent release of “The Continuous Intelligence Report: The State of Modern Applications and DevSecOps in the Cloud” report, which provides unique data-driven insights, best practices and emerging trends within the modern application stack from the company’s more than 2,000 customers and 100,000 users that companies can use to help guide their cloud journey. This year’s report revealed significant year-over-year growth in enterprise usage trends around multi-cloud adoption, open source technologies such as Kubernetes, and Amazon Web Services (AWS) cloud-native services adoption.
Sumo Logic also announced the industry’s first continuous intelligence solution for Kubernetes to provide companies the discoverability, observability and security capabilities essential for microservices adoption. In addition, the company announced new platform innovations giving their users faster data insights, ability to view their log data streams in a more natural and intuitive way and provide advanced control over their time series data. The company also updated its Cloud SIEM and Global Intelligence Service to help security teams better prioritize their security incidents and accelerate response as well as announced new integrations with Slack and MongoDB that provide customers with expanded monitoring capabilities to help them audit and secure these popular enterprise technologies.
Sumo Logic, a recognized expert in building and operating multi-tenant, distributed cloud systems, is the industry’s first continuous intelligence platform to natively ingest, index and analyze structured and unstructured data together in real-time. Every day on average the Sumo Logic platform analyzes more than 100 petabytes of data, executes over 30 million searches and queries more than 500 trillion records, delivering tens of millions of insights to customers who rely on continuous intelligence across the entire application lifecycle to more effectively build, run and secure their modern applications.
The Forbes 2019 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2019 issue of Forbes magazine.
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. The Forbes brand today reaches more than 120 million people worldwide through its trusted journalism, signature LIVE 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: https://www.forbes.com/forbes-media/.
Salesforce Ventures
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 300 enterprise cloud startups in 20 different countries since 2009. For more information, please visit www.salesforce.com/ventures.
About Sumo Logic
Sumo Logic is a secure, cloud-native, Continuous Intelligence Platform for DevSecOps delivering real-time, continuous intelligence from structured, semi-structured and unstructured data across the entire application lifecycle and stack. More than 2,000 customers around the globe rely on Sumo Logic for the intelligence to build, run and secure their modern applications and cloud infrastructures. Only Sumo Logic delivers its platform based on a true, multi-tenant, SaaS architecture, enabling digital businesses to thrive in the Intelligence Economy.
Founded in 2010, Sumo Logic is a privately held company based in Redwood City, Calif. and is backed by Accel Partners, Battery Ventures, DFJ Growth, Franklin Templeton, Greylock Partners, IVP, Sapphire Ventures, Sequoia Capital, Sutter Hill Ventures and Tiger Global Management. For more information, visit www.sumologic.com.
Sumo Logic and Illuminate are trademarks or registered trademarks of Sumo Logic in the United States and in foreign countries. All other company and product names may be trademarks or registered trademarks of their respective owners.
Any information regarding offerings, updates, functionality, or other modifications, including release dates, is subject to change without notice. The development, release, and timing of any offering, update, functionality, or modification described herein remains at the sole discretion of Sumo Logic, and should not be relied upon in making a purchase decision, nor as a representation, warranty, or commitment to deliver specific offerings, updates, functionalities, or modifications in the future.
Media Contacts
Melissa Liton
Sumo Logic
mliton@sumologic.com
(650) 814-3882
Sydney Holmquist
PAN Communications for Sumo Logic
sumologic@pancomm.com
(407) 734-7327