Forbes Cloud 100: OutSystems named to the 2022 list

OutSystems, a global provider of high-performance application development services, has been included in the Forbes 2022 Cloud 100, a definitive list of the top 100 private cloud firms worldwide, which was created in collaboration with Bessemer Venture Partners and Salesforce 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.”

Each year, the Cloud 100 evaluates submissions from hundreds of cloud startups and private organizations for the seventh consecutive year. Market leadership (35 percent), estimated valuation (30 percent), operating metrics (20 percent), and people and culture (ten percent) are the four criteria used in the Cloud 100 evaluation process to rank firms (15 percent ). A judging panel of CEOs from public cloud companies aids in the evaluation and rating of their private firm peers for market leadership in the Cloud 100.

“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.“