SINGAPORE, Sept. 17, 2020 – Auth0, the identity platform for application teams, has been named to the 2020 Forbes Cloud 100, ranking 19th out of 100 companies listed. The Forbes Cloud 100 is the definitive list ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. Auth0 was also included on the list in 2019 and 2018.
As part of the rigorous selection process for the 2020 Forbes 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%).
“Being included on the Forbes Cloud 100 for the third year in a row is an honour and an accolade we are incredibly grateful for. Thank you to Forbes, Bessemer Venture Partners, and Salesforce Ventures for their continual recognition of Auth0,” said Eugenio Pace, CEO and co-founder of Auth0. “As companies and end-users give more of themselves away online, protecting personal data and user credentials is of paramount importance. We are proud to secure the digital world and serve as a key enabler in our customers’ digital transformation and identity management efforts.”
Auth0 recently closed a $120 million round of Series F funding in July, bringing the company’s valuation to $1.92 billion and total capital raised to more than $330 million. Auth0’s Series F round comes a little more than a year after the close of its $103 million Series E funding last May, which launched the company into ‘unicorn’ status. After growing 70% in 2019, Auth0’s rapid growth has continued through 2020 despite the uncertainty of the current global economic environment.
“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 2020 Forbes 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.