The Forbes Cloud 100 returns for 2025

For ten years, Bessemer Venture Partners has joined forces with Forbes and Salesforce Ventures to showcase the most innovative minds in cloud technology through the prestigious Forbes Cloud 100. This definitive ranking spotlights the world's 100 most outstanding private cloud and AI companies alongside 20 promising Rising Stars poised to disrupt the industry. We're thrilled to announce that nominations for the 2025 Forbes Cloud 100 list are now officially open—your chance to be recognized among cloud and AI’s elite!

Visit The Cloud 100 website to nominate a private cloud company.

At the time of publication, the 2024 Cloud 100 companies had a combined valuation of $820 billion—up from $654 billion in 2023—marking a 25% year-over-year increase. This is the highest aggregate value in Cloud 100 history, underscoring the ubiquity of AI and its potential to transform every corner of the software industry.

The top 10 Cloud 100 companies gained even more influence this year, accounting for $299 billion in equity value—or 36% of the total list value, up from 32% in 2023.

Of the 10 categories we assess across cloud computing, AI unsurprisingly ranked as the highest-valued, totaling $176 billion (21% of the list’s value), followed closely by Fintech at $173 billion.

Last year’s cohort was defined by an astonishing velocity of growth. OpenAI (#1) and Anthropic (#5)—two foundation model companies—catapulted into the Top 10 within just two years. Meanwhile, data infrastructure leaders Databricks (#2) and Scale AI (#7) experienced significant AI-driven growth, culminating in notable financing rounds over the past year. Since then, Vertical SaaS Giant ServiceTitan (#6) graduated from the Cloud 100 in December 2024 following its IPO, which valued the company at $9 billion.

In early 2025, several of the hottest AI startups on the list—such as Perplexity (#85)—have already outpaced previous benchmarks to achieve “Centaur” status, the milestone of reaching $100 million or more in annual recurring revenue (ARR). According to Bessemer’s benchmark research, the average 2024 Cloud 100 company took 7.8 years to reach this milestone, while AI companies reached it even faster—averaging just 6.3 years. With 97% of last year’s honorees projected to hit or exceed $100 million in ARR, we expect to see even more Centaurs by year’s end.

As a sign of the times, Cloud 100 Rising Star Supermaven joined forces with AI code assistant Cursor in November 2024—a company that has skyrocketed to $200 million in ARR in under two years, powered by an astonishingly small and nimble team.

In its 10-year history, the Cloud 100 community has consistently served as both a source of innovation and a signal for what’s to come—a bellwether for emerging business benchmarks, best practices, and technology trends across sectors worldwide. Cloud 100 companies are the current leaders of the private cloud and AI market—and the public tech giants of tomorrow.

As mentioned, our Rising Stars list highlights 20 of the most promising early-stage startups experiencing rapid growth. The 2024 cohort featured several companies applying AI across a wide range of use cases—from accounting and medical record reviews to deepfake detection and supply chain automation. Notable Rising Stars included TurbineOne, a platform for military data analysis; BrightGo, admin software for janitorial services; and Quilter AI, a circuit board design tool.

How to apply

Private cloud companies are evaluated by their market leadership, people and culture, and operating metrics, including revenue, funding, and estimated valuation. The Cloud 100 judges, made up of the leading public cloud company CEOs, will once again determine the Cloud 100 honorees. Last year’s public CEO and CXO judges, including top leaders such as Jenn Tejada of PagerDuty, Aaron Levie of Box, and Scott Farquhar of Atlassian. The Cloud 100 judges’ qualifications precede them. Many of these CEOs were Cloud 100 winners before they were judges––they know how hard it is to build a business that makes this list.

Nominations for the 2025 Cloud 100 are open now at thecloud100.com and run through April 30 at 11:55 pm PT. In August, Forbes will announce the Cloud 100 and the 20 Rising Stars in Forbes Magazine and on Forbes.com.

These 120 extraordinary companies don't just represent excellence—they embody the very future of cloud and AI innovation, pushing boundaries that most haven't even imagined yet. We're privileged to shine a spotlight on their remarkable journeys and celebrate the transformative impact they're creating across the global technology ecosystem.

Best of luck to this year’s applicants!