Forbes Names Vlocity to Top 25 Next Billion-Dollar Company List
Venture Firm Survey Cites Companies Most Likely to Hit Billion-Dollar Mark Soon.
Every year for the past three, Forbes has gone looking for 25 young U.S. companies with a strong shot at reaching a valuation of $1 billion or more.
Last year's list included hot companies like the crowdfunding site GoFundMe, online retailer Boxed and innovative home seller OpenDoor. This year, with the help of TrueBridge Capital Partners, we asked venture firms which companies they thought most likely to hit the billion-dollar mark soon. Then we cut that list down to a final 25, evaluating strategies, funding and competitive challenges as well as estimating current revenues.
More on our methodology: TrueBridge, a 10-year-old Chapel Hill, NC firm that also collaborates with Forbes on our annual Midas list of the world’s top tech investors, asked 195 venture firms to nominate startups and to encourage their portfolio companies to nominate themselves. It also fielded entries directly, through a link that appeared on its website and on Forbes.com. To be considered, firms had to give TrueBridge their revenue numbers, their most recent valuations, a list of investors, data on their customers and an outline of their business model and growth trajectory. There was no fee to apply. TrueBridge examined nearly 100 companies, then passed a list of 40 to the Entrepreneurs team at Forbes. We did further reporting and analysis, researching companies’ track records, evaluating business plans, and talking to founders, investors, customers and competitors. We also gave TrueBridge more than a dozen additional companies to evaluate. The list is confined to U.S. startups. We’ll start fielding nominations for the 2018 list in June.
Founders: David Schmaier (CEO & Founder), Craig Ramsey (Chairman & Founder)
What Vlocity does: Sells cloud-based customer-management software for industries like insurance and telecommunications. Vlocity traces its roots to the 1990s, when Schmaier and Ramsey worked at Oracle with Marc Benioff, who went on to found Salesforce. The idea for Vlocity: software that runs on top of Salesforce's products to manage relationships in industries with the worst reputations for customer service. Launched in 2014, Vlocity has 80 customers in 20 countries, including MetLife, T-Mobile and the City of New York. Salesforce's venture-capital arm was an early Vlocity investor, and Vlocity's headquarters are in Salesforce's San Francisco building.