Algolia Ranks in the top 40 on the 2022 Forbes Cloud 100
Algolia, the leading API Platform for Search & Discovery, announced that it has been named #39 on the Forbes 2022 Cloud 100 driven by an increase in customers, multi-product innovation, industry recognition and accolades, broadening partner ecosystem, and significant growth in the use of the company’s search and discovery platform to levels of 30+ billion search requests per week. The Forbes 2022 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 andSalesforce Ventures.
“We are delighted with the Forbes Cloud 100 recognition alongside some of our partners and customers such as Automation Anywhere, Canva, Harness, Kong Inc., Lattice and Stripe,” said Bernadette Nixon, chief executive officer, Algolia. “When you consider the number of times you search for something, browse a website or buy something online each day, you quickly realize the importance of search and discovery in the customer’s journey. Today, Algolia powers over 12,000 enterprises as well as individual developers building their own projects.”
Nixon added, “As businesses grapple with changes caused by COVD-19 and the current tightening economic environment, one of the reasons they turn to us is our speed, and I don’t simply mean the blazing-fast speed at which we deliver relevant search results; but also the speed at which they can deliver a much-improved search and discovery experience for their own customers.”
For the seventh straight year, the Cloud 100 reviewed submissions from hundreds of cloud startups and private companies each year. 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 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 private companies in this fast-growing 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 2022 Cloud 100 honorees.”
“The public markets may be in turmoil, but the private valuations of the Cloud 100 continue to rise. All of the 2022 Cloud 100 honorees, again, have reached the $1 billion valuation milestone, and the average Cloud 100 valuation has skyrocketed to $7.4 billion,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “Despite the market correction in 2022, our confidence in the cloud economy continues to grow—today over 70% of the 2022 Cloud 100 Honorees have reached or exceeded $100 million in annual recurring revenue making them cloud Centaurs. An additional 10% of the list is expected to hit this milestone by the end of the year, furthering our conviction that this years’ honorees truly represent the best cloud companies globally.”
“Great companies are born out of all environments, and it’s exciting to see the continued momentum in the cloud sector,” said Alex Kayyal, Managing Partner, Salesforce Ventures. ”The companies on this list have gone through a rigorous selection process, and join an esteemed alumni list of Cloud 100 companies. As the need for digital transformation continues to drive innovation and efficiencies across industries, we can look to these companies as the absolute best in cloud computing.”
This year, the CEOs of The Cloud 100 and the 20 Rising Stars companies will be honored with a digital content launch, as well as at the exclusive Cloud 100 Celebration hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank you to our event sponsors Amazon Web Services (AWS), Bank of America, Cooley, Fuel a McKinsey Company, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nasdaq, and Silicon Valley Bank.