VTS Named To the 2021 Forbes Cloud 100 For the 3rd Year in a Row!
We’re SO excited to announce that VTS has been named to the 2021 Forbes Cloud 100 — the definitive ranking of the top 100 private cloud companies in the world. The annual list is published by Forbes, in partnership with Bessemer Venture Partners and Salesforce Ventures.
What VTS CEO Nick Romito had to say: We’re honored to once again be named to the Forbes Cloud 100 at a time when technology has proved to be essential for commercial real estate to navigate the uncertainty the COVID-19 pandemic has presented. Now more than ever, tech has earned its place within CRE, and we’re proud that our products have provided the technology, support, and guidance they’ve needed to weather the storm. A special thank you to our team who have continued to innovate, develop, and deliver. This recognition is a true testament to their hard work and tenacity.
Why was VTS named to the 2021 Forbes Cloud 100?
We’re changing the way that commercial real estate (CRE) does business by disrupting a $15 trillion industry by becoming the modern operating system for commercial real estate. The CRE industry is one of the world’s largest and least tech-enabled asset classes and VTS offers solutions for office, retail and industrial owners, helping drive the industry-wide shift toward using real-time data to make portfolio decisions.
Following what was one of the most challenging years for the CRE industry in recent history, we continued to be a valuable resource for our customer base, which includes more than 45,000 commercial real estate professionals including respected industry leaders Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL, and CBRE.
Over the last year, we’ve accelerated the launches of several products meant to help commercial real estate navigate the ongoing impact of COVID-19:
- VTS Market & Marketplace: 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.
- VTS Data: the industry’s only pulse on what’s happening in the market today, capturing active tenant demand and projecting future supply fluctuations.
- Our free monthly VTS Office Demand Index (VODI): the earliest available indicator of forthcoming office leases and tenant sentiments, locally and nationally, representing up to 99% of new demand for office spaces within the core seven markets, including New York City, Los Angeles, Washington DC, San Francisco, Boston, Chicago, and Seattle.
In addition to the numerous, highly-anticipated product launches announced throughout the pandemic to help landlords weather the storm and navigate their portfolios, we also entered into an agreement to acquire Rise Buildings, a property operations and tenant experience technology company used by top landlords including Blackstone, Hines, and CIM Group. And just months after the acquisition, we shared that the product, now branded as VTS Rise, became the most adopted tenant experience technology in proptech. As of July 1, 2021, over 300 million square feet in 161 cities and over 500 buildings worldwide are managed on VTS Rise.
What is the Forbes Cloud 100?
Every year, for six straight years, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of 34 public cloud company CEOs who assist in evaluating and ranking their private company peers.
“The companies of the Cloud 100 list represent the best and brightest emerging companies in the cloud sector,” said Alex Konrad, senior editor at Forbes. “Every year, it gets more difficult to make this list — meaning even more elite company for those who do. Congratulations to each of the 2021 Cloud 100 honorees and to our 20 Rising Stars up-and-comers poised to join their ranks.”
“The private cloud ecosystem continues to see historic rates of digital transformation,” said Byron Deeter, partner at Bessemer Venture Partners. “Private cloud valuations are getting bigger as the market’s appetite for cloud continues to grow. These founders represent the absolute best in cloud computing today, and they appear likely to follow in the footsteps of our esteemed Cloud 100 alumni. Congratulations to these cloud leaders!”
"How we work has undergone a paradigm shift and businesses of all shapes and sizes are reimagining the tools that are needed to ensure working from anywhere is a sustainable, long-lasting solution," said Alex Kayyal, Managing Partner, Salesforce Ventures. “The last 18 months have made digital transformation an urgent imperative and the cloud has never been more pivotal in powering our new digital economy. The companies on this list represent the leaders and businesses shaping the future of the cloud ecosystem and we are excited to partner with Bessemer Venture Partners and Forbes to honor these trailblazers of the industry.”
The Forbes 2021 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100.
You can also read our official announcement here.