The Cloud Challengers Top 100 report has again showcased a leading cast of emerging business software companies, poised for growth in what will likely continue to be a bumpy economic landscape.Nevertheless, the founders we interviewed are generally optimistic about the year to come, one that will be driven by AI innovation, a flight to quality and efficiency, and a doubling down on culture management.
We are thrilled to see the classes of 2022 and 2023 performing so strongly, with 53% of the 2022 cohort having raised follow-on funding since the report was launched, compared to an industry standard of 19%. The 2023 companies are well on their way to this position, with 28% having raised follow on funding over the last year.
Not only this, but the class of 2022 are raising serious rounds, 37% of firms are at series A, and 14% at Series B. This has led to a number of exits, 11 companies have been acquired, including some well known names.
We share the CC100 founder’s optimism for the year ahead and look forward to watching these companies continue to challenge the established order in the years ahead.
Until next year!
