The company’s inaugural appearance on the Cloud 100 list at #59 highlights the API platform’s momentous growth in 2020
SAN FRANCISCO--(BUSINESS WIRE)--Postman, the leading platform for API development, has been ranked #59 in the Forbes 2020 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.
“The Forbes Cloud 100 is a truly elite group; we’ve had our eye on this list for several years, seeing so many companies that we really admire,” said Postman CEO and Co-founder Abhinav Asthana. “It’s an honor for Postman to be included this year.”
2020 has already been a strong year for Postman, with the announcement of a $150 million round of Series C funding in June that valued the company at approximately $2 billion. The financing was led by Insight Partners, Nexus Venture Partners, and CRV. Postman, which is headquartered in San Francisco and has an office in Bangalore (where the company was founded), now has more than 250 employees globally and continues to grow rapidly.
As part of the rigorous selection process for the Forbes 2020 Cloud 100, Bessemer Venture Partners received submissions from hundreds of companies, ranging from small startups to private-equity-backed giants. 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 2.7x, from $1 billion in 2016 to $2.7 billion in 2020. In fact, our 2020 Cloud 100 includes more than 80 private unicorns. The Cloud 100 represents the absolute best in cloud computing today, and these companies are poised to follow in the impressive footsteps of our esteemed Cloud 100 alumni: More than a third of the companies who have appeared in the Cloud 100 over the last few years have exited either via strategic M&A, financial M&A, or IPO. Congratulations to these cloud leaders.”
“In this unprecedented time, digital is an urgent imperative, and the pace of innovation is accelerating. Companies around the globe and across all industries must adopt cloud technologies to enable their digital transformation,” said Matt Garratt, managing partner at 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. Congratulations to each of the 2020 Cloud 100 honorees.”
The full Forbes 2020 Cloud 100 is published online at www.forbes.com/cloud100 and will also appear in the September 2020 issue of Forbes magazine.
The Cloud 100 companies will be publicly recognized at this year’s first-ever virtual Cloud 100 event at TheCloud100.com, with singular discussions from top cloud CEOs and more, on September 16 from 9:00 a.m.–12:00 p.m. (PT). The event is co-hosted by Bessemer Venture Partners, Salesforce Ventures, and Forbes. A special thank-you to the virtual event sponsors Amazon Web Services (AWS), Bank of America, Cooley, FuelxMcKinsey, Goldman Sachs, J.P. Morgan, Morgan Stanley, Nasdaq, Qatalyst Partners, Silicon Valley Bank, Simon-Kucher & Partners, and WisdomTree.
Postman is the leading collaboration platform for API development, used by more than 12 million developers and 500,000 companies worldwide. Postman is an elegant, flexible platform that is used to build connected software via APIs—quickly, easily, and accurately. Learn more at http://www.postman.com or connect with Postman on Twitter via @getpostman.