TORONTO: 1Password, a leader in identity security, has been named #43 to the Forbes 2024 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.
“We’re thrilled to be recognized on the Forbes Cloud 100 list once again this year. At 1Password, we believe security should enhance productivity, not hinder it, and we’re constantly innovating to meet this goal. This year, we’re especially proud of our new security offerings that address the pervasive issue of shadow IT, ensuring businesses can work securely and efficiently,” said Jeff Shiner, CEO 1Password.
Today’s businesses face a real challenge with employees using personal devices for work. This creates an Access Trust Gap as traditional cybersecurity measures can’t fully protect all of these access points. To close this gap, 1Password pioneered Extended Access Management, a new category of security software that extends the capabilities of identity and access management (IAM) and mobile device management (MDM) to unmanaged apps and devices. More than 150,000 businesses trust 1Password to keep their information safe and now with 1Password Extended Access Management, organizations can secure every sign-in for every app on every device.
For the ninth consecutive year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.
“For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security,” said Alex Konrad, the Forbes editor of the Cloud 100. “This year’s list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPOs.”
“Across nine years of data, we have yet to see as competitive of a cohort as the 2024 Cloud 100. The list value reached $820 billion this year, the highest list value in Cloud 100 history,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “Unsurprisingly, AI is now the highest valued category. We continue to be excited by how AI companies are scaling rapidly, transforming the cloud, and propelling the next wave of growth, driving a massive year-over-year jump in market cap of the list of over $150 billion.
“The past year, our industry has seen a generational step forward in innovation, and with AI leading the charge, we are witnessing one of the most important platform shifts in decades,” said Paul Drews, managing partner at Salesforce Ventures. “The Cloud 100 list represents the best of the best, and we’ve never been more excited about what the future holds, not only for the cloud but for the entire technology industry. We are proud of what these founders and their communities have already accomplished, and look forward to seeing how they continue to transform the industry in the future.”
The Forbes 2024 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the August/September 2024 issue of Forbes magazine.
This year, the CEOs of The Cloud 100 and the 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. A special thank you to the event sponsors, including Amazon Web Services (AWS), Bank of America, Cooley, Deloitte, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, and Nasdaq.
