VTS Named to the 2020 Forbes Cloud 100
The VTS team is incredibly proud to announce that we’ve been named to the 2020 Forbes Cloud 100 for the second year in a row! Cloud 100 is the definitive list of the top 100 private cloud companies in the world, published by Forbes in collaboration with Bessemer Venture Partners and Salesforce Ventures — and we couldn’t be more delighted to be on it.
What VTS CEO & Co-Founder Nick Romito had to say:
“We’re thrilled to be recognized on the Forbes Cloud 100 list for the second year in a row. 2020 has undoubtedly been a year filled with uncertainty, however, these unprecedented times have underscored the critical need for online leasing and marketing software. Our entire team across the U.S., Canada, and the U.K. has worked tirelessly to provide our customers with the support and resources they need to navigate the pandemic. This recognition is a testament to their dedication and commitment.”
Why was VTS selected for the 2020 Forbes Cloud 100 list?
VTS’ ranking as #90 on the 2020 Cloud 100 list follows a multitude of noteworthy milestones. We hit the ground running in 2020, launching VTS Retail — software built specifically for retail landlords to solve complex problems in their leasing process — in January. In response to the pandemic, in June 2020 we accelerated the release of VTS Market — the CRE industry’s first integrated, online marketing platform that enables landlords and their agency teams to market and lease their available spaces remotely for the first time ever.
Since our founding in 2012, VTS has continued to revolutionize commercial real estate, one of the world’s largest and least tech-enabled asset classes, through products like these. The VTS platform established the tech category of leasing and asset management and enables landlords and brokers to manage the end-to-end leasing process from any device. We offer solutions for office, retail, and industrial owners with more than 12B square feet of commercial real estate managed on VTS globally — an amount equivalent to roughly 20 New York Cities in size. This significant adoption is driving the industry-wide shift toward using real-time data to make portfolio decisions. Overall, more than 45,000 users across more than 40 countries use VTS to convert leads to leases 41% faster.
“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 poised to join their ranks!”
How was VTS selected?
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.”
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!
View our official announcement here.