We’re thrilled to announce that Lattice has made the annual Forbes Cloud 100 for the first time this year, ranking #62 on this definitive ranking of the top 100 private cloud companies in the world. The list is published each year by Forbes in a partnership with Bessemer Venture Partners and Salesforce Ventures.
“We’re thrilled to be recognized on the Forbes Cloud 100 List for the first time this year. It’s a huge testament to the scale of the opportunity and to all the hard work our team has put into building our products and culture,” said Jack Altman, CEO and co-cofounder of Lattice. “We believe the future will be led by companies who prioritize people success, and we’re thrilled to be building a platform to help companies put their employees first. We’re grateful for all the growth we’ve had from customers who believe the same thing, and we’re excited to work hard to keep scaling with them.”
To develop the final list, the Cloud 100 team reviews submissions from hundreds of cloud startups and private companies each year. The evaluation process involved ranking companies across four factors: market leadership, estimated valuation, operating metrics, and people & culture. For the market leadership section, 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. Highlights from this year’s list will also appear in the August/September 2022 issue of Forbes magazine.
Lattice has had a significant year of momentum ahead of this exciting recognition: As of this summer, the company serves over 4,500 customers and has more than doubled its headcount from this time last year. Exiting the fourth quarter of 2021, Lattice reported over 110% year-over-year ARR growth and increased our customer base by more than 40%, including Calm, Imperfect Foods, and Article. In March of 2021, Lattice closed its Series E fundraising round, bringing the company to unicorn status, and less than 10 months later in January 2022, Lattice closed its Series F fundraising round at $175 million led by Tiger Global, bringing the company valuation to more than $3 billion.
Lattice has also recently received accolades for its culture and teams despite a tumultuous year: The company was profiled as one of Inc’s Best Places to Work, received Stevie Awards for excellence in Sales and Customer Service, and was ranked by Great Place to Work and Fortune as the #1 Best Workplaces in the Bay Area, the #2 Best Workplaces for Millennials and #4 on the overall Best Medium Workplaces national list.
More in the words of the team behind this year’s list…
“The companies of the Cloud 100 list represent the best and brightest private companies in this fast-growing sector,” said Alex Konrad, senior editor at Forbes. “Every year, it gets more difficult to make this list — meaning even more elite company for those who do.”
“The public markets may be in turmoil, but the private valuations of the Cloud 100 continue to rise. All of the 2022 Cloud 100 honorees, again, have 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 over 70% of the 2022 Cloud 100 Honorees have reached or exceeded $100 million in annual recurring revenue making them cloud Centaurs. An additional 10% of the list is expected to hit this milestone by the end of the year, furthering our conviction that this years’ honorees truly represent the best cloud companies globally.”
“Great companies are born out of all environments, and it’s exciting to see the continued momentum in the cloud sector,” said Alex Kayyal, Managing Partner, Salesforce Ventures. ”The companies on this list have gone through a rigorous selection process, and join an esteemed alumni list of Cloud 100 companies. As the need for digital transformation continues to drive innovation and efficiencies across industries, we can look to these companies as the absolute best in cloud computing.”