HighRadius Named to 2021 Forbes Cloud 100 List for the Second Straight Year
Forbes 2021 Cloud 100 list recognizes HighRadius’ market leadership in AI-enabled Integrated Receivables & Treasury solutions, company culture, valuation, and growth.
HOUSTON & SAN FRANCISCO – August 10, 2021 – HighRadius, the Artificial Intelligence-powered Order to Cash and Treasury Management software leader, has been named to the Forbes 2021 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. This marks the second year in a row that HighRadius has made it to the prestigious list, based on an evaluation process across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%).
HighRadius Continues its Strong Momentum and Growth
- Over $2.2 trillion B2B transactions were processed in 2020 on the HighRadius AI-powered Integrated Receivables Platform. This is roughly the GDP of France, and the volume grew by 74% compared to the prior year.
- Trusted by 600+ clients with users across 92+ countries. HighRadius clients include 200+ Forbes Global 2000 companies, including eight of the ten largest consumer goods companies in the world, along with four of the five most successful chemical manufacturers, four of the seven largest industrial manufacturers, and four of the five largest food and beverage companies.
- Raised a Series C fundraise of $300 million in March 2021, tripling valuation to $3.1 billion in a year.
- Recorded 47% growth in Contracted ARR (Annual Recurring Revenue), compared to the previous year. In fact, HighRadius witnessed a triple-digit growth of 143%, in Europe, since the start of the pandemic (January 2020).
- Named a Leader (extreme top-right position) twice in a row in the IDC MarketScape for Accounts Receivable Software (Enterprise and Mid-Market editions)
Comments on HighRadius and the Forbes Cloud 100
“The companies of the Cloud 100 list represent the best and brightest emerging companies in the cloud sector,” said Alex Konrad, senior editor at Forbes. “Every year, it gets more difficult to make this list—meaning even more elite company for those who do. Congratulations to each of the 2021 Cloud 100 honorees and to our 20 Rising Stars up-and-comers poised to join their ranks.”
“Being named to the Forbes Cloud 100 for the second straight year is a confirmation that our commitment to finance digital transformation is resonating with customers,” said Sashi Narahari, Founder and CEO of HighRadius. “We have always been focused on the vision of ‘building a long-term business that can outlast all of us,’ which means staying focused on product innovation and customer success. I would like to thank all 2500+ HighRadians, our customers, partners, and investors who helped us reach this milestone.”
“The private cloud ecosystem continues to see historic rates of digital transformation,” said Byron Deeter, partner at Bessemer Venture Partners. “Private cloud valuations are getting bigger as the market’s appetite for cloud continues to grow. These founders represent the absolute best in cloud computing today, and they appear likely to follow in the footsteps of our esteemed Cloud 100 alumni. Congratulations to these cloud leaders!”
“How we work has undergone a paradigm shift and businesses of all shapes and sizes are reimagining the tools that are needed to ensure working from anywhere is a sustainable, long-lasting solution,” said Alex Kayyal, Managing Partner, Salesforce Ventures. “The last 18 months have made digital transformation an urgent imperative and the cloud has never been more pivotal in powering our new digital economy. The companies on this list represent the leaders and businesses shaping the future of the cloud ecosystem and we are excited to partner with Bessemer Venture Partners and Forbes to honor these trailblazers of the industry.”
The Forbes 2021 Cloud 100 and 20 Rising Stars lists are published online at www.forbes.com/cloud100. Highlights of the list appear in the September 2021 issue of Forbes magazine.
About HighRadius Corporation
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help 600+ industry-leading companies automate their Accounts Receivable and Treasury processes.
The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. The HighRadius® RadiusOne AR Suite offers a pocket-friendly platform for hundreds of mid-sized businesses to enable faster AR processing and enhance their working capital. HighRadius® Treasury Management Applications help teams achieve touchless cash management and accurate cash forecasting.
Powered by the Rivana™ Artificial Intelligence Engine and Freeda™ Digital Assistant for order-to-cash teams, HighRadius enables teams to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks.
Processing over $2.23 Trillion in receivables transactions annually, HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months. HighRadius is the industry’s most preferred solution for Accounts Receivable & Treasury and has been named a Leader by IDC MarketScape twice in a row.
To learn more, please visit www.highradius.com
About Bessemer Venture Partners
Bessemer Venture Partners is the world’s most experienced early-stage venture capital firm. With a portfolio of more than 200 companies, Bessemer helps visionary entrepreneurs lay strong foundations to create companies that matter and supports them through every stage of their growth. The firm has 130 IPOs, including Pinterest, Shopify, Twilio, Yelp, LinkedIn, Skype, LifeLock, PagerDuty, DocuSign, Wix, MindBody, and Fiverr. Bessemer’s team of investors and partners are positioned all over the world in Silicon Valley, San Francisco, New York, Boston, Tel Aviv, Bangalore, and Beijing. Follow @BessemerVP and learn more at bvp.com.
The defining voice of entrepreneurial capitalism, Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 140 million people worldwide through its trusted journalism, signature LIVE events, custom marketing programs and 40 licensed local editions in 70 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements. For more information, visit the Forbes News Hub or Forbes Connect.
About Salesforce Ventures
Salesforce Ventures is the global investment arm of Salesforce and is focused on partnering with the most ambitious enterprise technology companies at every stage in their journey. Since 2009, Salesforce Ventures has invested over $3 billion in over 400 leading companies including Auth0, Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium, Twilio, and Zoom. Salesforce Ventures provides portfolio companies with unparalleled access to Salesforce, one of the fastest-growing enterprise software companies in the world, including strategic advisory, customer introductions, and the strongest cloud ecosystem. Salesforce Ventures has invested in more than 25 countries with offices all over the world including in San Francisco, Irvine, New York, London, Tokyo, and Sydney. Follow @SalesforceVC and learn more at salesforce.com/ventures.
For Bessemer Venture Partners
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