As more companies realize the potential of the cloud, the market for cloud services is expanding at an incredible pace. Enterprises were attracted to the idea of not having to invest in data inventories and mainframes. Even though there are still some doubters, the boom in cloud computing is proof of how rapidly the cloud has become mainstream. Recent cloud computing IPOs have seen a surge. In 2018, several cloud startups, including Elastic, DocuSign, and Dropbox, went public. This can be attributed to the cloud’s increasing popularity.
Many new use cases for the cloud have emerged, fueled by the rapid growth of innovation and fierce competition in the market. This makes the cloud an even more versatile and flexible infrastructure. Let’s take a look at some of the most innovative cloud computing startups that have come up with new products.
1. Stripe
This cloud-based FinTech company is valued at $20 billion. It provides a seven-line code for small businesses that can be embedded into their websites and allows them to accept online payments. Stripe handles all the paperwork that can be intimidating for small business owners.
It also prevents them from conducting business online. The startup, which is based in San Francisco, takes a 2.9 percent industrial cut on every transaction. This helps to generate revenue. It helps small and large businesses harness the unlimited power of the Internet by ensuring payment fraud prevention and implementing security standards.
Stripe was founded in 2010 and has seen a lot of success. Its clients include big companies like Amazon, Google, and Spotify. Stripe sees a future in which many businesses will be able to go online, and this will help increase the internet’s GDP. Stripe hopes to change this. Only 3 percent of all business is conducted online.
Also read: Top 10 Cloud Data Warehouse Solution Platforms
2. Slack
Enterprise communication tools are becoming more important than ever, as companies are scattered around the world with offices in various locations. Slack is one such tool. It offers a variety of cloud-based tools for team collaboration. This messaging app for workplaces helps people to collaborate. It also provides channel-based communication, where a channel can be a platform that allows people to work together on a specific project.
The startup was founded in 2009 and has since grown tremendously. It is now used by over 500,000 companies. Microsoft Teams is however a formidable competitor to Slack. Microsoft Teams was launched in 2017. Many enterprises have accepted it since it is a free service that Office 365 subscribers can use. While Teams is slow, it’s still very appealing to many businesses. Slack is not afraid of competition and plans to go public. Slack, which is already valued at $7 billion is a strong presence that is still growing.
3. Zoom Video Communications
Zoom, another cloud-based enterprise communication platform, is also included in this list. It helps companies in conferences, boards, huddles, training rooms, and other areas. Schools can use Zoom to help students connect with one another and collaborate in groups. Zoom allows users to use audio and video conferencing, as well as wireless content-sharing.
Zoom intends to go public in the next year. To date, it has raised $145 million in the capital. It seems to be moving in the right direction with clients such as Uber and GoDaddy.
4. Tanium
Tanium is a cloud-based security platform. Tanium was founded in 2007 and is valued at a staggering $5 billion. Tanium protects all endpoints within an enterprise network. Tanium is a solution that protects all endpoints within an enterprise network. It sits at the communication layer and gives deep insight into the network which in turn aids in risk detection and mitigation. In seconds, organizations can take action to remove malicious software from their network or change settings within it. To prevent cyberattacks, organizations can also run compliance audits and checks.
5. Procore
This startup is based in Carpinteria (Calif.). It offers cloud-based construction management software. This helps to provide a unifying solution for construction projects, which can be complex with many moving parts. Construction is a complex and unpredictable job.
There are always the chances of something going wrong. Delivery delays, equipment issues, labor shortages, and changes to plans can all happen. Procore connects people and devices through one platform. It helps construction professionals deliver safely and within budget, on time, and with minimal risk.
Procore serves over 5,000 customers in over 100 countries. Procore is a unique solution that seems poised to lead the construction industry.
6. Crowdstrike
This startup, based in Sunnyvale, Calif. provides next-generation cloud-based endpoint protection. Crowdstrike Falcon protects clients against cyberattacks by combining machine learning and AI.
It is designed for cloud protection. It correlates up to 1 trillion security events across the globe to detect and prevent almost any type of threat. Crowdstrike is integrated with AWS Security Hub. This shows just how effective Crowdstrike protection is. Crowdstrike, valued at $3 billion is planning to go public this year.
7. Elastic
Elastic is a well-known company thanks to its successful IPO in October. Elasticsearch is a search engine that’s unique and used by many companies like Uber, Tinder, Netflix, and others. Elasticsearch is both a RESTful search engine, an analytics engine, and a data store. Elasticsearch can be used to build on it and create its own search engines.
Elastic’s offerings are collectively called Elastic Stack. They include Kibana (a data visualization tool), Beats, a set of shipping plug-ins to send data to Elasticsearch, and Logstash, an open-source pipeline that performs ETL operations on data coming from different sources and directs it to a repository of the user’s choosing.
8. Cloudflare
Cloudfare uses edge computing for client websites to load faster and protect them against bad traffic and other threats. It acts as an intermediary between clients and hosting servers. It uses reverse proxy in order to create mirrors and cached versions of websites on its server. This ensures faster loading times and better performance while reducing latency.
It has 155 data centers around the world and stores customers’ websites. Users also get a copy of the closest datacenter to them. It acts as a firewall between the client’s computer and the server to filter spam, malicious traffic, and bot attacks. Cloudflare offers customers application firewall and email encryption.
Also read: Top 5 Reasons Why Marketing Cloud Is Important For Marketers
9. Medallia
Medallia is a customer experience management startup that helps organizations increase customer loyalty. The Medallia Experience Cloud provides insight into customer feedback for companies. The customer experience application can be used by clients to analyze customer feedback, which is collected from various channels, including email, in-app surveys, and social media. Medallia collects this feedback in order to create comprehensive visualizations and reports that can be used by clients to improve customer experience.
10. Snowflake
Valued at $3.5 billion, Snowflake provides a data warehouse-as-a-service. Snowflake’s software runs on AWS or Azure. It allows users to store data and query it from any cloud storage they prefer, allowing them to analyze patterns and trends. Snowflake data can be used by many different applications. This allows users to efficiently work with small amounts of large data.
Snowflake is accepted by many companies because it offers efficient data handling at a remarkable pay-by-the-second subscription that dramatically reduces cost.
Future of Cloud Computing
Cloud computing is constantly evolving as more startups create innovative use cases for it. Everyone is striving to be a part of this rapidly changing market. However, it is possible for things to go wrong quite easily. This is why startups are under immense pressure to come up with innovative ideas and to keep delivering while making good business decisions. It is exciting to see the evolution of these innovative startups in the cloud.
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