Forbes has released its eighth annual Cloud 100 list, highlighting the top private cloud computing companies globally. This list is a collaborative effort between Bessemer Venture Partners, Salesforce Ventures, and presented by VMware. As we completed our July 2023 Technology Spending Intentions Survey (TSIS) a few weeks ago, let's examine some of our findings and explore how they correlate with several of the companies on Forbes' prestigious list.
One thing everyone can agree on is OpenAI claiming the top spot. Making a huge splash this year, there is no surprise it’s almost off the charts in our Vendor Position view with a Net Score (i.e. spend velocity) of nearly 87%. Runner-up -- and please take that definition with a grain of salt -- is Databricks, which posted a 60% Net Score in our most recent JUL23 TSIS. The data and AI company made a significant impact with its acquisition of MosaicML earlier in the year, propelling it ahead of its competition on the Cloud 100 list.
Wiz and Rubrik are closely matched, both nearing a Net Score of 50%, while Plaid, Snyk, and Grafana round out the list with Net Scores above 40%. Wiz achieved a remarkable start to the year, attaining a valuation of $10 billion through a $300 million Series D funding round led by Lightspeed Venture Partners and Greenoaks Capital Partners. More recently, Wiz uncovered security vulnerabilities within Microsoft's cloud platforms, including Azure, following Microsoft's email breach. However, Wiz faced challenges as Orca Security filed a patent infringement suit against them.
Rubrik has been actively expanding its presence in EMEA, hiring a former Securonix VP for field CISO and a former Zscaler Director of Alliances, and establishing a new Ireland office in Cork. Additionally, they have plans to acquire cloud data security startup Laminar for $250 million. Fintech data network Plaid introduced several partnerships and product launches, including Beacon, an anti-fraud network utilizing APIs for real-time and secure information sharing. They also introduced Identity Verification and expanded partnerships with NorthOne, Cross River, and Nuvei.
Although Snyk experienced a decline in valuation, ETR data sets show positive spending intentions for the second half of 2023. The acquisition of Israeli security startup Enso Security and momentum in AI initiatives show promise for their performance throughout the year.
Grafana, with a Net Score exceeding 40% in our most recent TSIS, announced multiple updates during its GrafanaCon 2023 event back in June. Grafana 10 introduced enhanced RBAC features and streamlined implementation of SAML for authentication. Updates to Grafana Cloud offer secure connections to data in both on-premises and cloud environments, including front-end issue monitoring. Grafana Labs is making their data visualization engine more accessible to third-party developers embedding Grafana-based visualizations within their applications.
We will call it day here but don’t forget to sign up for your free trial today to see where the rest of the Cloud 100 list stacks up on our ETR platform.
Enterprise Technology Research (ETR) is a technology market research firm that leverages proprietary data from our targeted IT decision maker (ITDM) community to provide actionable insights about spending intentions and industry trends. Since 2010, we have worked diligently at achieving one goal: eliminating the need for opinions in enterprise research, which are often formed from incomplete, biased, and statistically insignificant data. Our community of ITDMs represents $1+ trillion in annual IT spend and is positioned to provide best-in-class customer/evaluator perspectives. ETR’s proprietary data and insights from this community empower institutional investors, technology companies, and ITDMs to navigate the complex enterprise technology landscape amid an expanding marketplace. Discover what ETR can do for you at www.etr.ai.