TripActions Recognized on the 2019 Forbes Cloud 100
Innovation is the cornerstone of everything we do at TripActions, which is why we’re proud to announce TripActions is number 19 on the 2019 Forbes Cloud 100. The status quo is our biggest competitor, and we challenge the industry at every step of the business travel journey.
“Since day one at TripActions, we’ve passionately put the user first — all of them, all of the time,” said Ariel Cohen, co-founder and CEO, TripActions. “As a mission-driven company, our focus on delivering a best-in-class corporate travel product, service, and experience for our customers and their travelers is our north star. We’re both humbled and proud to see TripActions recognized among the Cloud 100. The biggest honor is the privilege of earning the trust of our customers and users every day by delivering the best experience in business travel.”
“As a fast-growing company that prioritizes our employees while they’re on the road, we were looking for a true strategic partner to help us develop a global and scalable corporate travel management program,” said Omar Ghani, Group Manager, Global Supply Management at Lyft. “We found that in spades with TripActions, and are proud to be partnered with them to manage our company’s global travel program. Since we’ve started using their platform, we’ve not only seen an increase in cost savings, but also high compliance and adoption of our programs with employees telling us they love the experience.”
As part of the rigorous selection process for the Forbes 2019 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 four factors considered in ranking are market leadership, estimated valuation, operating metrics, and company culture.
“The private cloud ecosystem has matured, 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. “In fact, the average valuation of a company on our inaugural list just four years ago was $1 billion, while the average valuation on this year’s list spiked to $1.7 billion. Our 2019 Cloud 100 includes over 60 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. In total, already 25 Cloud 100 alumni have gone public, and dozens have been acquired for over $1 billion each. Congratulations to these cloud leaders!”
“There has been tremendous growth in the cloud market in recent years, as more and more companies are adopting cloud technologies to enable their digital transformation and change how they do business. The opportunity is massive in the cloud sector, which is evident in both the public and private sectors. There are now more than 15 public SaaS companies valued at over $10B whereas even 5 years ago there were only 2,” said Matt Garratt, Managing Partner, Salesforce Ventures.
“For four 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 cybersecurity and marketing to data analytics and storage, it’s harder than ever to make the Cloud 100 list — but with more elite company if you do. Congratulations to each of the 2019 Cloud 100 honorees and the 20 Rising Stars honorees poised to join their ranks!”
Thank you to our investors, partners, and suppliers who believe in our vision, and our employees who passionately put the user first, enabling TripActions to deliver a best-in-class travel experience. If you’d like to learn more about how TripActions can reinvent travel at your organization, schedule a demo with us.
The Forbes 2019 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100 and will appear in the September 2019 issue of Forbes magazine.