Front named to Forbes Cloud 100 2022
SAN FRANCISCO–(BUSINESS WIRE)–Front, a communications hub for building strong customer relationships, today announced that it has been named to the Forbes 2022 Cloud 100, the definitive ranking of the world’s top 100 private cloud companies. published by Forbes in partnership with Bessemer Venture Partners and Salesforce Companies. Front was recognized as #100 on the list for its strong business growth, technological innovation and corporate culture.
Front is on a mission to enable better relationships at scale and is disrupting customer support software and email, two of SaaS’s largest and most deeply entrenched markets. Designed specifically for businesses that want to differentiate themselves through great customer relationships, Front’s software helps a team stay focused on the relationship by wrapping collaboration and customer data around the customer conversation. This approach ensures that companies don’t have to choose between being efficient or being human. With Front, teams can deliver fast, accurate, and personalized responses, and customers never feel like tickets or numbers.
“More than ever, companies must ensure that customers have a great experience and feel well served with interactions tailored to their needs. Front builds technology that makes a business much more efficient when it comes to maintaining strong customer relationships, instead of automating, hijacking, or making interactions impersonal. The results for our customers are not just deeper user relationships, but greater productivity and efficiency savings as teams handle higher communication volumes at higher service levels,” said Mathilde. Collin, co-founder and CEO of Front. “This recognition from Forbes, Bessemer Venture Partners and Salesforce Ventures is gratifying recognition of the value we deliver to our clients. Front has the potential to create meaningful relationships across all businesses and industries, and we’re only scratching the surface of what’s possible.
Front has seen phenomenal growth over the past year, and Forbes 2022 Cloud 100 recognition just followed. Front’s $65M Series D Funding in June, which was led by Salesforce Ventures and Battery Ventures, with participation from PagerDuty CEO Jennifer Tejada and other existing investors. Now valued at $1.7 billion with over $200 million in funding, Front serves more than 8,000 customers in more than 100 countries, including Shopify, Airbnb, Hulu, Lyft, Mailchimp, Flexport, MongoDB and five of the Fortunes. 25.
For the seventh consecutive year, the Cloud 100 annually reviews applications from hundreds of cloud startups and private enterprises. The Cloud 100 evaluation process involved ranking companies on four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people and culture (15%). To be a market leader, the Cloud 100 uses a judging panel of CEOs from public cloud companies who help evaluate and rank their private company counterparts.
“The companies on the Cloud 100 list represent the best and brightest private companies in this growing industry,” said Alex Konrad, editor at Forbes. “Each year it gets harder to make this list – which means even more elite business for those who make it. Congratulations to each of the 2022 Cloud 100 winners.”
“Public markets may be boiling, but private Cloud 100 valuations continue to rise. All of the 2022 Cloud 100 winners have once again 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, more than 70% of 2022 Cloud 100 winners have reached or exceeded $100 million in annual recurring revenue, which in fact, cloud centaurs.An additional 10% of the list are expected to pass this milestone by the end of the year, reinforcing our belief that this year’s winners truly represent the best cloud companies in the world.
“Great companies are born of all environments, and it’s exciting to see the continued momentum in the cloud industry,” said Alex Kayyal, managing partner, Salesforce Ventures. “Companies on this list have gone through a rigorous selection process and join a list of esteemed alumni of Cloud 100 companies. As the need for digital transformation continues to drive innovation and efficiency across industries, we can consider these companies to be the best when it comes to cloud computing.”
The Forbes 2022 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2022 issue of Forbes magazine.
This year, the CEOs of The Cloud 100 and 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. Special thanks to our event sponsors Amazon Web Services (AWS), Bank of America, Cooley, Fuel a McKinsey Company, Goldman Sachs, JP Morgan, Morgan Stanley, Nasdaq and Silicon Valley Bank.
About the front
Front is a communications hub for building strong customer relationships across digital channels. For many companies, almost every conversation with a customer can make or break the relationship – the stakes are so high. Front places these conversations at the center of a team’s attention and surrounds them with collaboration capabilities and contextual data from multiple systems. This keeps teams focused on delivering timely, accurate, and deeply personalized communications. Nearly 8,000 businesses, including Shopify, Airbnb, Hulu, Lyft, and Mailchimp, use Front to build better relationships with their customers, one conversation at a time. To learn more, visit front.com.
Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay a solid foundation to build and forge sustainable businesses. With more than 135 IPOs and 200 portfolio companies across corporate, consumer and healthcare, Bessemer supports founders and CEOs from their early days and through every stage of their growth. Bessemer’s global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and manages $19 billion in regulatory assets. 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 rich history has allowed its partners to celebrate and examine its best investment decisions (see Memos) and also learn from mistakes (see Anti-wallet).
Forbes champions success by celebrating those who have done it and those who aspire to do it. Forbes brings together and organizes the most influential leaders and entrepreneurs who drive change, transform businesses and have a meaningful impact on the world. The Forbes brand today reaches more than 150 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, personalized marketing programs, and 47 licensed local editions in 80 countries. Forbes Media’s brand extensions include licensing deals in real estate, education and financial services.
Salesforce Ventures helps enterprising founders build companies that reinvent the way the world works. Since 2009, we have invested in and worked with over 400 of the world’s most resilient enterprise software companies from seed to IPO including Airtable, Databricks, DocuSign, Guild Education, Hopin, monday. com, nCino, Snowflake, Snyk, Stripe, Tanium, and Zoom. Salesforce Ventures leverages our decades of cloud expertise and long-term relationships with key decision makers in thousands of companies around the world to give our portfolio companies an unfair advantage, helping them build credibility and accelerate their growth. Salesforce Ventures has invested in more than 25 countries with offices around the world, including San Francisco, Irvine, New York, London, Tokyo and Sydney. Follow @SalesforceVC and learn more about http://www.salesforceventures.com.