Recognition highlights Auth0 as a top private cloud company for third consecutive year
BELLEVUE, Wash., Sept. 16, 2020 (GLOBE NEWSWIRE) -- Auth0, the identity platform for application teams, has been named to the 2020 Forbes Cloud 100, ranking 19th out of 100 companies listed. The Forbes Cloud 100 is the definitive list ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. Auth0 was also included on the list in 2019 and 2018.
As part of the rigorous selection process for the 2020 Forbes Cloud 100, Bessemer Venture Partners received submissions from hundreds of cloud startups. 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%).
“Being included on the Forbes Cloud 100 for the third year in a row is an honor and an accolade we are incredibly grateful for. Thank you to Forbes, Bessemer Venture Partners, and Salesforce Ventures for their continual recognition of Auth0,” said Eugenio Pace, CEO and co-founder of Auth0. “As companies and end-users give more of themselves away online, protecting personal data and user credentials is of paramount importance. We are proud to secure the digital world and serve as a key enabler in our customers’ digital transformation and identity management efforts.”
Auth0 recently closed a $120 million round of Series F funding in July, bringing the company’s valuation to $1.92 billion and total capital raised to more than $330 million. Auth0’s Series F round comes a little more than a year after the close of its $103 million Series E funding last May, which launched the company into ‘unicorn’ status. After growing 70% in 2019, Auth0’s rapid growth has continued through 2020 despite the uncertainty of the current global economic environment.
“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 2.5x, from $1 billion in 2016 to $2.7 billion in 2020. In fact, our 2020 Cloud 100 includes over 87 private cloud unicorns! These founders represent the absolute best in cloud computing today, and they will most certainly follow in the footsteps of our esteemed Cloud 100 alumni. More than a third of the companies of the Cloud 100 have exited either via strategic M&A, financial M&A or Initial Public Offering. Congratulations to these cloud leaders!”
“In the face of this unprecedented time, digital is an urgent imperative, and the pace of innovation is accelerating. Companies around the globe, across all industries must adopt cloud technologies to enable their digital transformation,” said Matt Garratt, Managing Partner, 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 – but with more elite company if you do. Congratulations to each of the 2020 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!”
The 2020 Forbes Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2020 issue of Forbes magazine.
About Auth0
Auth0 provides a platform to authenticate, authorize, and secure access for applications, devices, and users. Security and application teams rely on Auth0's simplicity, extensibility, and expertise to make identity work for everyone. Safeguarding more than 4.5 billion login transactions each month, Auth0 secures identities so innovators can innovate, and empowers global enterprises to deliver trusted, superior digital experiences to their customers around the world
For more information, visit https://auth0.com or follow @auth0 on Twitter.
About Bessemer Venture Partners
Bessemer Venture Partners is the world's most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter, and supports them through every stage of their growth. The firm has backed more than 120 IPOs, including Pinterest, Shopify, Yelp, LinkedIn, Skype, LifeLock, Twilio, SendGrid, PagerDuty, DocuSign, Wix, and MindBody. Bessemer's 15 partners operate from offices in Silicon Valley, San Francisco, New York City, Boston, Israel, and India. For more information, please visit www.bvp.com.
About Forbes
The defining voice of entrepreneurial capitalism, Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 160 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 40 licensed local editions in 70 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements. For more information, visit the Forbes News Hub or Forbes Connect.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world's largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory, and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 400 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom, and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.
Media Contacts:
Jeana Tahnk
Global Communications
Auth0
press@auth0.com
Hannah Carroll
Matter for Auth0
auth0@matternow.com