Hot in Enterprise IT/VC - What's 🔥 in Enterprise IT/VC #302
What's 🔥 in Enterprise IT/VC #302☁️💯, PLG + Dev First dominate, breaking down the Top 20 for 2022
It’s mid- August and time for another ☁️💯 list.
Similar to years past (2021, 2020), I spent 10 minutes and used my best guess to understand the primary business model and initial sales motion of The Top 20 Cloud 100 companies and as you can see below, dev first models (including OSS) account for 30% of the list (same as last year) while overall PLG cos comprise 35% of the list (down slightly from 40% last year). Of note, 3 of the 5 companies who primarily target developers are API-first companies (Stripe, Checkout, Checkr) while Databricks is the lone OSS co as Hashicorp and Gitlab graduated from the list as they both went public. Notice new Top 20 entrant Snyk, a boldstart portfolio co, which is developer first and the only cybersecurity company in the Top 20. When you combine Dev First cos with PLG, 65% of the Cloud 100 use a frictionless GTM which is insane! To be clear, this is only reflective of the initial sales model since as deal sizes get larger, every company eventually layers in an enterprise sales motion. Also huge congrats to one other PLG and portfolio co, Front, as it made the list at 100. Here’s another datapoint on the Cloud100 from an IT Spending perspective. This is from ETR (Enterprise Technology Research) and covers a Net Sentiment score as evaluated by a community of over 5k IT decision makers representing >$1 Trillion of spend. The Net Sentiment Score metric aggregates customer evaluations and utilization, then subtracts churn to determine overall enterprise traction and which companies are currently best positioned. No surprises here as many of these emerging companies favored by IT all appear on the Cloud100. Many of the Forbes Cloud 100 are tracked in ETR's universe of spending intent and sentiment sourced directly from IT decision makers such as @MiroHQ @figma @databricks @getpostman @snyksec @collibra @Tanium @OneTrust @Calendly among others .. Finally, with inflation easing versus expectations (could be just a bear market rally), multiples for the Top 10 cloud stocks on NTM/Rev basis are back at 20x! (thanks Jamin Ball!) As always, 🙏🏼 for reading and please share with your friends and colleagues. Scaling Startups
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Older messages
What's 🔥 in Enterprise IT/VC #301
Saturday, August 6, 2022
On hiring pre-product market fit and focusing on the job to be done now
What's 🔥 in Enterprise IT/VC #300
Saturday, July 30, 2022
What recession? If u can't sell dev tools now, it's not the market as 💰 is there
What's 🔥 in Enterprise IT/VC #299
Saturday, July 23, 2022
What's 🔥 in cybersecurity + why developer security is the next big thing
What's 🔥 in Enterprise IT/VC #298
Saturday, July 16, 2022
Mid 😎 check in: anecdotal state of VC/startup market, IT Spending data still strong for must-have products
What's 🔥 in Enterprise IT/VC #297
Saturday, July 9, 2022
Know when to hold 'em, know when to fold 'em...finding a clear path as you extend runway
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