The Forbes Cloud 100 honors Algolia for its market leadership, valuation, operating metrics and people & culture
Algolia, the world’s only end-to-end AI Search platform, today announced the company has been named on the Forbes 2024 Cloud 100. This accolade is a testament to the relentless innovation and widespread adoption of Algolia’s AI Search platform, renowned for its scalability, lightning-fast speed, and ease of use. The Forbes Cloud 100 definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.
Algolia CEO Bernadette Nixon remarked: “We are delighted that Algolia has once again been named to Forbes’ exclusive Cloud 100 list for the third year in a row. This honor reflects a year of remarkable growth, made possible by our dedicated team’s unwavering commitment innovating an AI search platform that intuitively understands, effortlessly scales, and fosters unparalleled customer loyalty. Our heartfelt thanks go to the esteemed panel of judges and Forbes, Bessemer Venture Partners, and Salesforce Ventures for recognizing our relentless pursuit of excellence.”
Algolia’s recognition comes at a pivotal time for the AI search innovator. In the past six months, the company unveiled its Generative AI shopping experiences, launched AI Personalization, introduced new connectors, and debuted the new Looking Similar functionality. Algolia was also named a leader in the 2024 Gartner® Magic Quadrant™ for Search and Product Discovery. Furthermore, the company forged new partnerships with major brands, including the leading global sports fashion retailer JD Sports.
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 ofa judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.
“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.”
“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 over $150 billion.”
“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. Highlights of the list appear in the August/September 2024 issue of Forbes magazine.
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