The cloud has redefined the way businesses interact with their customers and clients as well as offered a competitive edge in comparison to local storage of data. The shift to the cloud -- and the accompanying need for data warehousing and management -- has provided cost-efficiency, mobility, security, and more integration and collaboration than ever before. Startups offering top-of-the-line data management solutions for enterprises have seen far greater success than anticipated.

Leader of the Pack
Snowflake is considered the top cloud data warehousing solution because of the simplicity of its integration as a SaaS product. Its out-of-the-box features that separate storage and computation mean users can scale up or down and pay only for the resources they use, whether extra storage or computation needs. Snowflake's success has allowed it to ride through the waves of the pandemic to IPO last year at a $33.0BN valuation, paving the way for other cloud startups. 

Future Cloud IPOs
Based on company growth and funding, we share a list of potential cloud IPOs that we expect to follow in Snowflake’s footsteps.

• Databricks offers a unified analytics platform that prepares data from experimentation to deployment in machine learning applications. The startup raised a $1BN Round G of funding in February, raising its valuation to almost 5 times its value when it raised its last round of funding in October 2019. Although the company has not yet announced any IPO intentions, its growth rate and current valuation suggest that an IPO could be imminent.
• Rubrik is a cloud data management company with a focus on data protection and security. The company has grown significantly since its inception in 2014 with a 55.6% 3-year CAGR and is another company that could IPO soon.
• Cohesity offers a data management platform that consolidates mass data fragmentation for backup, management, and insight analysis. Its valuation grew over 1.5 times after a $250MM Round E raised in April 2020 revealed a 3-year CAGR of 133.5%. The startup ranked as one of the top 10 (6th place) most resilient companies of 2020 in our PrivCo 50 ranking.
• Cockroach Lab offers an open-source database designed for building global, scalable cloud services that can survive disasters and is said to be able to withstand blackouts. The company has raised close to $250MM in the past 12 months and has demonstrated phenomenal growth during the pandemic with a 210% 3-year CAGR. It is the 12th most resilient company of 2020 in our PrivCo 50 ranking.

PrivCo 50 2020 Most Resilient Companies Ranking 
We released a ranking of 50 top companies that, despite the challenges of 2020, proved to be resilient and flexible, riding through in-person interaction restrictions, social movements, a global pandemic, and more. Quickly review the list of top 50 companies or dive deeper into some insights. Our one year later analysis is in the pipeline, so stay tuned!