Redwood City, Calif. – July 11, 2017 – C3.ai, the platform as a service leader for rapidly developing and operating AI and IoT software applications, has been ranked No. 19 on the annual Forbes 2017 Cloud 100 list, the definitive list of the top 100 private cloud companies in the world. The highest ranked newcomer to the 2017 Cloud 100, C3.ai is also featured in an in-depth profile in Forbes, “Siebel’s Second Act: Why C3.ai Could Be the Billionaire’s Biggest Score.”
Published by Forbes in collaboration with Bessemer Venture Partners, the Forbes Cloud 100 honors the businesses that are creating value in the trillion-dollar software industry. The rigorous evaluation process ultimately ranked the winning companies based on estimated valuation, operating metrics, people and culture, and market leadership.
Such high placement on the Forbes Cloud 100 list acknowledges C3.ai’s unique ability to address one of the fastest growing software markets in the history of information technology – the market for AI and IoT applications, estimated to reach $250 billion by 2025.
CEO-led mandates for digital transformation initiatives are driving the large and growing market opportunity for a new generation of enterprise software that leverages big data, AI, and IoT at industrial scale. C3.ai serves this growing demand by enabling large industrial and commercial organizations to rapidly build and deploy next-generation software applications that leverage AI and IoT across the enterprise to address productivity improvements, new business creation, and competitive differentiation.
C3.ai has built the industry’s only comprehensive platform as a service (PaaS) for AI and IoT applications – with 14 patents pending globally – that is proven at industrial scale with enterprise deployments across industries including manufacturing, healthcare, aerospace, financial services, oil and gas, energy, and more.
For example, C3.ai has delivered significant customer projects for discrete manufacturing dynamic inventory optimization and supply network risk, healthcare chronic disease prediction, financial services consumer spend prediction, oil and gas predictive maintenance, renewable and thermal power generation and optimization, and enterprise data lakes.
Time to market in deploying end-to-end AI and IoT applications is critical, and C3.ai’s patent-pending technology enables customers to develop and deploy solutions in one-tenth the time at one-tenth the cost of alternative technologies.
C3.ai results for fiscal year 2017, ended March 31, 2017, included 600% year-over-year bookings growth, 65% revenue growth year over year, and cash-positive operations.
“Forbes has a keen eye for businesses and, coupled with Bessemer Venture Partners and Salesforce Ventures’ deep knowledge of the cloud industry, our Cloud 100 list showcases the standout private cloud companies to watch,” said Forbes editor of the Cloud 100 list Alex Konrad. “We are pleased to welcome C3.ai as the highest ranked newcomer to the Cloud 100 community, while also recognizing C3.ai’s powerful combination of vision and execution under the leadership of tech industry icon Tom Siebel.”
“C3.ai is clearly one of the most significant companies leading the cloud technology revolution,” said Byron Deeter, a top cloud investor and partner at Bessemer Venture Partners. “In honoring C3.ai as the top-performing new entrant to the Forbes 2017 Cloud 100 list, we’re not just acknowledging the fast growth of C3.ai – we also celebrate the tenacity, vision, and repeated achievements of Tom Siebel as a business leader.”
The Forbes 2017 Cloud 100 is published online at www.forbes.com/cloud100 and will appear in the July 27, 2017 issue of Forbes magazine.
Corporate Public Relations