Aussie firms Canva, Culture Amp & Airwallex make it to the Forbes Cloud 100 List

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Forbes Cloud 100 list | iTMunch

Three of Australia’s reputed, robust and revolutionary cloud companies have made it to the prestigious annual Forbes Cloud 100 list – Canva, Airwallex and Culture Amp. The Sydney-headquartered design giant Canva has successfully made its place in the top 10 for the very first time in the list.

What calls for celebration is the fact that Canva is the only cloud-based tech startup that is not from Australia that has made it to the top 10, all other companies are from the United States. Canva is positioned at No. 7, Melbourne-based fintech firm Airwallex is at 61st position while company culture and experience platform Culture Amp is at 80. 

What Canva & Culture Amp say on making the cut

Canva Head of Communications Liz McKenzie said as the only cloud-tech company in the Top 10 based out of the US, the achievement is a great sign of confidence in Australian tech ecosystem and Canva’s impact internationally. McKenzie says they are honoured to be included in the 2020 Cloud 100 list and says the recognition is a clear testament to Canva’s continued growth. 

 CEO and Co-founder of Culture Amp, Didier Elzinga says being named in the prestigious Cloud 100 list is truly a special moment. Elzinga adds that it is a validation of their culture-first approach and the absolute importance of culture and employee experience in building a great company. He thanks his 400+ employees and more than 2000 customers for helping them deliver in their mission of creating a better world of work.

The California-based company that topped the list is Snowflake, a data platform. The others in the top 5 are Stripe (payments software), UiPath (robotic process automation), HashiCorp (infrastructure automation) and Databricks (data analytics).

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The Forbes Cloud 100 List

The Forbes Cloud 100 enlists the world’s top and best cloud-tech companies. Now in its 5th year, the list recognizes outstanding cloud companies, from startups to private-equity backed big players.

The 2020’s list has been produced in partnership with Salesforce Ventures and Bessemer Venture Partners. The companies were assessed and selected on the basis of their growth, valuation, sales, culture and reputation score which was derived after consulting 43 CEO judges.

Byron Deeter, Partner at Bessemer says that amid rapid digital transformation, the private cloud ecosystem is maturing making it more competitive to make the annual list. Private cloud valuations are getting bigger everyday as the market’s appetite for cloud continues to increase. 

In the past 5 years, the average Cloud 100 valuation has grown by a whopping 2.5x, from US$1 billion (in 2016) to US$2.7 billion (in 2020). In fact, the Forbes 2020 Cloud 100 includes more than 87 private cloud unicorns, says Deeter. 

The founders of these companies represent the absolute best in the cloud industry today and most certainly follow in the footsteps of the Cloud 100 alumni. More than one third of the companies listed in the Cloud 100 have exited either via financial M&A, strategic M&A or Initial Public Offering.

SEE ALSO: Formerly known as Melbourne IT, Webcentral Group receives revised takeover offer from Web.com

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