OutSystems is Named to the 2022 Forbes Cloud 100| MENAFN.COM

Sunday, 02 October 2022 10:28 GMT

OutSystems is Named to the 2022 Forbes Cloud 100


(MENAFN- Active DMC) UAE, Dubai – August 10, 2022 – OutSystems, a global leader in high-performance application development, has been named to the Forbes 2022 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership withBessemer Venture Partners andSalesforce Ventures.

“Our inclusion in the Cloud 100 list for the second consecutive year is a testament to the exceptional value our customers are achieving using OutSystems to power their cloud transformation,” said Paulo Rosado, Founder, and CEO of OutSystems. “The pressure to deliver business-critical applications in the cloud has never been greater, and a high-performance development approach is essential. We’re incredibly proud of the work our team is doing to help some of the world’s most innovative companies build software that solves their biggest business challenges.”

For the seventh straight year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process ranks companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people and culture (15%). For market leadership, the Cloud 100 enlists the help ofa 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.“

The Forbes 2022 Cloud 100 and 20 Rising Stars lists are published online at Highlights of the list appear in the August/September 2022 issue of Forbes magazine.

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.

OutSystems
OutSystems was founded in 2001 with the mission to give every organization the power to innovate through software. The OutSystems high-performance low-code platform gives technology leaders and developers the tools to rapidly build and deploy their own business-critical applications. The company’s network spans more than 600,000 community members, 400+ partners, and active customers in 87 countries across 22 industries. OutSystems is “The #1 Low-Code Platform®” and a recognized leader by analysts, IT executives, business leaders, and developers around the world. Some of the most well-known brands use OutSystems to turn their big ideas into software that moves their business, people, and the world forward. Learn more at

Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and has $19 billion of regulatory assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).


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