July 11, 2017

Code42 Named to Second Annual Forbes 2017 Cloud 100 List

Minneapolis – Jul 11, 2017 – Code42 has been ranked #96 on the Forbes 2017 Cloud 100 list, the definitive list of the top 100 private cloud companies in the world, published by Forbes in collaboration with Bessemer Venture Partners. Code42 will be celebrated at The Cloud 100 Celebration, an exclusive event in San Francisco hosted by Bessemer Venture Partners, Forbes and Salesforce Ventures. The celebration is attended by the CEOs of the public cloud companies and the CEOs named to The Cloud 100 and The 20 Rising Stars lists.

“It’s an honor being recognized as a top 100 private cloud company in the world. This validates our focus on delivering cloud-based data protection, security and visibility solutions,” said Joe Payne, president and CEO of Code42. “The only way to recover from ransomware attacks like WannaCry and GoldenEye is to securely and continuously back up end-user files in the cloud. By working closely with our customers, Code42 is building next-generation cloud security solutions that give organizations peace of mind in an increasingly complex threat landscape.”

As part of the rigorous selection process for the Forbes 2017 Cloud 100, Forbes’ data partner, Bessemer Venture Partners, received hundreds of submissions from the top cloud startups. With that data, the Forbes Cloud 100 judges panel, made up of a majority of public cloud company CEOs, was then responsible for selecting and ranking the top 100 companies from all over the world. The evaluation process involved four factors: estimated valuation (30%), operating metrics (20%), people & culture (15%) and market leadership (35%), which the judges panel then weighed to select, score, and rank the winners.

“Our inaugural Cloud 100 list showed the tech and venture capital community just how many standout private cloud companies there are to watch, and this year’s list is no exception,” said Forbes editor of the Cloud 100 list Alex Konrad. “Forbes has a keen eye for businesses, and combining that with Bessemer Venture Partners and Salesforce Ventures’ deep knowledge of the cloud industry, any company’s inclusion on the Forbes 2017 Cloud 100 list is cause to celebrate.”

“These companies are leading the cloud technology revolution!” said Byron Deeter, a top cloud investor and partner at Bessemer Venture Partners. “The founders and teams behind the Forbes 2017 Cloud 100 companies are of another caliber and we are beyond excited to celebrate the hard work and enormous value these companies are creating as they propel the trillion-dollar software industry forward.”

“The business opportunity for cloud computing is tremendous as the spend on cloud computing and the rate of adoption continues to grow and advance the ecosystem,” said John Somorjai, EVP Salesforce Ventures and Corporate Development. “We’re thrilled to highlight the potential of these top-tier private companies in the field and see where they take their businesses and the economies around the world.”

The Forbes 2017 Cloud 100 and 20 Rising Stars lists are published online at forbes.com/cloud100 and will appear in the July 27, 2017 issue of Forbesmagazine.