In late July, Bessemer Venture Partners (BVP) acknowledged a, “massive milestone that is likely to send shockwaves through the software and technology industries,” according to BVP’s blog.
The top public Cloud computing companies are now worth a combined total of more than $100 billion.
BVP, the leading Cloud and SaaS venture capital firm that led Adaptive Planning’s latest round of $45 million in new funding, is celebrating the feat by publicly releasing the BVP Cloud Computing Index. The Index is a comprehensive market guide that tracks the weekly market fluctuations of the leading public Cloud companies. Here’s a part of what the firm had to say about the milestone:
“This is just the beginning…Cloud computing still represents only 2% of the total annual software, datacenter, and IT spend of $1.4 trillion, presenting these businesses with continued growth opportunities for the coming years. This also ensures that we will see continued acquisition interest from the legacy technology vendors under attack by the new Cloud models, and excitement for more Cloud IPOs on Wall Street.”
Simultaneous Market Growth
As the Cloud industry continues to grow, the CPM & BI market is also accelerating. According to the latest Adaptive
Planning/IDC research, the global BI & CPM addressable market is worth over $30 billion. Adaptive Planning continues to innovate and meet the needs of both growing markets, resulting in a 90% growth in new software bookings in 2012.
Single View of Market Metrics
According to BVP, the fast-moving nature of the Cloud industry, combined with inconsistent data formats, are making it difficult for executives to access the financial metrics needed to gain the most valuable industry insights. To simplify the metrics process, the BVP Cloud Computing Index will offer weekly public comps, operating metrics, and forecasts to the general public in a single, consistent, downloadable package.
Finance & Technology “Coming of Age.”
In detailing this latest market milestone, BVP declared, “The Cloud Computing Industry has officially come of age.”
CFO.com Senior Editor Kathleen Hoffelder made a similar assertion related to finance technology in March, 2013, saying that, “Financial forecasts are coming of age.” The simultaneous upward trajectory of both trends creates a perfect storm for the increasing number of corporate finance teams looking to make modern technology investments to support more efficient and fluid planning, forecasting, and reporting processes.
Find how how Adaptive Planning can meet your efficiency needs by signing-up for a free, live demo with Adaptive Planning technology experts.