News provided by: OneTrust , Aug 13, 2024, 09:30 ET
Ranking in the top 25% of the world’s best private cloud companies
ATLANTA, Aug. 13, 2024 /PRNewswire/ — OneTrust, the market-defining platform helping organizations use data and AI responsibly, has been named to the 2024 Forbes 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. For the third year, the company sits in the top 25 percent of companies at spot 21.
“The way companies think about data has fundamentally changed. The regulatory environment around data and consumer behavior shifts have made maximizing the collection and use of data no longer good enough. Now, it’s all about responsibly collecting and using data,” said Kabir Barday, OneTrust’s Founder and CEO.
“This year’s list is the strongest group of standouts yet”Post this
OneTrust recently announced it is expected to surpass $500 million in ARR later this year while maintaining positive free cash flow. This success is driven by its growing customer base of more than 14,000 customers around the world, including 75 percent of the Fortune 100, who have turned to OneTrust to help them use data and AI responsibly. In addition to placing on the prestigious Forbes Cloud 100, the company continues to be recognized for its breakthrough software solutions and dedication to innovation and impact.
“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.”
Barday continued, “OneTrust has led the way in enabling organizations around the globe to activate their use of data and AI by offering solutions to transparently collect first-party data and automate risk and compliance operations across privacy, security, AI governance, third parties, and IT risk. It’s an honor to be included in the top quartile of the list, again, which is a testament to our continued momentum and vision for trusted, data-centric innovation.”
“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.”
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.
“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.
About OneTrust
OneTrust unlocks the full potential of data and AI, responsibly. Our platform enforces the secure handling of company data, empowering organizations to drive innovation responsibly while mitigating risks. With a comprehensive suite of solutions spanning data and AI security, privacy, governance, risk, ethics, and compliance, OneTrust enables seamless collaboration between data teams and risk teams to enable rapid and trusted innovation. Recognized as the market leader in trust, OneTrust boasts over 300 patents and serves more than 14,000 customers globally, ranging from industry giants to small businesses. For more information, visit www.onetrust.com.
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SOURCE: OneTrust