Cloud Investor Battery Ventures Reveals the 25 Highest-Rated Public and 50 Highest-Rated Private Cloud-Computing Companies to Work For

HubSpot grabs No. 1 public-company spot while Pendo* tops private
list; data provided by Glassdoor powers rankings and reinforces
importance of company culture

Eight companies from last year’s list go public or are acquired

BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Battery Ventures, a global investment firm that backs cloud companies,
has for the third year revealed the 25 Highest Rated Public Cloud
Computing Companies to Work For,
as well as the 50 Highest Rated
Private Cloud Computing Companies to Work For,
with data
specifically provided to Battery from Glassdoor.* This year’s lists
highlight a number of new, fast-growing cloud firms—including many based
outside traditional technology centers like Silicon Valley—as well as
publicly traded, business-focused cloud companies that continue to be
rewarded for positive company culture.

The companies on both lists represent those where employees report the
highest levels of satisfaction at work, according to employee feedback
shared on Glassdoor, one of the world’s largest job and recruiting sites.

“Glassdoor is on a mission to help people everywhere find a job and
company they love through greater workplace transparency,” said Robert
Hohman, Glassdoor co-founder and CEO. “For the third year, Battery
Ventures found in an independent study of Glassdoor data the top cloud
companies based on employee sentiment. We are proud to help shed light,
through our data, on employers that work hard to create and grow strong
company cultures. In today’s competitive hiring environment a strong
company culture can make all the difference in attracting and retaining
top talent.”

This year, marketing-and-sales software company HubSpot took top honors
on the public-company list for the second year in a row. But on the
private-company list, all of the top five cloud companies are new to the
rankings—and five of the top 10 are not based in California. The No. 1
private company, product-experience software provider Pendo.io, is
headquartered in Raleigh, N.C. Pendo.io was too small, in terms of
employee count, to make the list last year.

Additionally, eight of the top 50 private companies from the 2018 list
went public or have been acquired in the last year. These companies
include PagerDuty, Duo Security, Smartsheet, Pluralsight, Carbon Black,
SendGrid, Datorama and TrendKite*.

“These exits underscore the fact that to succeed in the public markets
or be acquired today, a cloud company not only has to have a great
product, management team and go-to-market strategy—it has to focus on
cultivating a great culture as well,” said Neeraj Agrawal, a Battery
general partner who specializes in cloud investing. “It’s also telling
that it continues to get tougher each year to make our list, showing
that companies can’t rest on their laurels when it comes to promoting
employee happiness in today’s brisk tech-hiring market.” Agrawal served
on the board of Glassdoor before its acquisition by Japan’s Recruit
Holdings last year.

“We believe that a great product attracts lots of great customers in the
same way that a great culture attracts lots of great employees,” added
Brian Halligan, CEO and co-founder of HubSpot.
“From very early on, we’ve worked hard to make HubSpot a great place to
work and I’m happy to see that the employees feel that way. A big thank
you to our employees who have shared their perspective of what it’s like
to work at HubSpot. At the same time, building a great culture is
something that is never done, so we’ll continue to evolve it and improve
it, so it scales with size and time.”

Battery’s Agrawal added that all the innovative companies on both lists
this year are powering the trend of businesses increasingly turning to
the cloud to run critical technology systems and software, instead of
using on-premise systems. The highest-rated companies on both lists sell
cloud technology in a range of areas, including sales, marketing, human
resources, social-media management and industries like construction and
trucking.

To qualify for the list, private cloud companies were required to have
more than 200 employees; at least 30 employee reviews on Glassdoor; and
have raised funding since July 2015. Public companies required at least
$500 million in total enterprise value as of the end of Q1 2019,
according to CapIQ. (A more detailed explanation of the list methodology
is below.)

The reports also include data on whether employees approve, or
disapprove, of their companies’ CEOs and gauge their views on how their
companies’ businesses will perform in the next six months (though these
additional data points did not impact the overall company ratings or
rankings).

For reporting simplicity, the company ratings below are rounded to the
nearest tenth of a point, though actual calculations extend beyond the
thousandth decimal place to determine rank. The ratings are based on a
five-point scale, with 1.0 denoting “very dissatisfied”, 3.0 indicating
“OK” and 5.0 signaling “very satisfied.”

Many third-party studies
show that companies with high employee satisfaction often post stronger
financial performance.

Here are the highest-rated public and private cloud-computing companies
to work. Full lists of the 25 Highest Rated Public Cloud Companies and
the 50 Highest Rated Private Companies can be found here.

 
25 Highest Rated Public Cloud Companies to Work For (Top 10)
Rank     Company     Company Rating     CEO Approval Rating     CEO     % Positive Biz Outlook
1     HubSpot     4.6     97%     Brian Halligan     90%
2     The Ultimate Software Group     4.5     97%     Scott Scherr     90%
3     Elastic     4.5     97%     Shay Banon     91%
4     DocuSign     4.4     97%     Dan Springer     89%
5     Guidewire Software     4.4     97%     Marcus Ryu     88%
6     Paylocity     4.4     97%     Steve Beauchamp     88%
7     Eventbrite     4.4     96%     Julia Hartz     85%
8     Zendesk     4.3     95%     Mikkel Svane     83%
9     Smartsheet     4.3     98%     Mark Mader     85%
10     AppFolio     4.3     99%     Jason Randall     85%
                   
 
50 Highest Rated Private Cloud Companies to Work For (Top 25)
Rank     Company     Company Rating     CEO Approval Rating     CEO     % Positive Biz Outlook
1     Pendo*     4.9     98%     Todd Olson     98%
2     Sysdig     4.9     100%     Suresh Vasudevan     100%
3     Highspot     4.9     98%     Robert Wahbe     98%
4     Instapage     4.9     97%     Tyson Quick     97%
5     Dataiku*     4.9     98%     Florian Douetteau     97%
6     SalesLoft     4.9     99%     Kyle Porter     99%
7     Zoom***     4.9     99%     Eric Yuan     97%
8     Asana     4.9     100%     Dustin Moskovitz     95%
9     Sonatype     4.8     100%**     E. Wayne Jackson III     100%
10     Sprout Social     4.8     99%     Justyn Howard     96%
11     Amplitude*     4.8     100%     Spenser Skates     98%
12     Segment     4.8     100%     Peter Reinhardt     98%
13     nCino     4.8     99%     Pierre Naude     97%
14     Confluent     4.8     100%     Jay Kreps     98%
15     KeepTruckin     4.7     98%     Shoaib Makani     94%
16     Procore     4.7     99%     Tooey Courtemanche     93%
17     Greenhouse Software     4.7     95%     Daniel Chait     95%
18     Lucid Software     4.7     100%     Karl Sun     93%
19     Auth0     4.7     100%**     Eugenio Pace     88%
20     BounceX*     4.7     96%     Ryan Urban     91%
21     Looker     4.7     98%     Frank Bien     94%
22     Justworks     4.7     99%     Isaac Oates     95%
23     Podium     4.7     95%     Eric Rea     94%
24     Outreach     4.6     100%**     Manny Medina     93%
25     BambooHR     4.6     97%     Ben Peterson     91%
                   

Employees at these highly rated companies commonly mention in online
reviews that they enjoy working for mission-driven companies with strong
and unique company cultures; employers that embrace and promote
transparency; and companies with experienced senior leadership teams who
regularly and clearly communicate with employees. Here is a sample of
what employees have to say:

  • “They care about employees as people, not just part of a balance
    sheet. They are transparent when something isn’t working and how they
    are going to fix it. People care about their work and their
    colleagues. People are respectful of one another. (Executives are)
    very present and engaged no matter what your title is.”
    Current
    employee, HubSpot, marketing
  • “The product is incredible. Anyone in software appreciates the
    concept and the execution. The work environment is super positive and
    supportive. You win and lose as a team, but your individual success
    and happiness are held in equal measure. My peers are talented,
    driven, honest, and brilliant and I am better for them.” 
    Current
    employee, Pendo

Glassdoor offers millions of the latest job listings online, paired with 47
million workplace reviews and insights
for approximately 900,000
companies around the world. Currently, the average company rating on
Glassdoor is 3.41. When an employee submits a company review
on Glassdoor, he or she is asked to give their opinion on some of the
best reasons to work for their employer (pros), any downsides (cons),
and is encouraged to provide advice to management. Employees are also
asked to rate how satisfied they are with their employer overall, among
several other workplace attributes employees can rate and review.

Methodology: The private- and public-company reports identify
cloud computing companies that are highest rated on Glassdoor, based on
company ratings shared by employees. To be considered, a cloud company
must have received at least 30 company reviews on Glassdoor as of
3/21/19. The private-company report tracks independent, non-public cloud
companies that, according to Battery research and data from research
service Crunchbase, are based in the U.S.; have a B2B business model;
are categorized as SaaS, cloud-computing and/or enterprise software,
according to Crunchbase; have more than 200 employees (as of 4/12/2019,
according to company data provided to LinkedIn and Battery research);
and have raised funding on or after 7/01/2015). The public-company
report tracks public cloud companies with a B2B business model that have
at least $500 million in total enterprise value as of March 31, 2019,
according to CapIQ.

A company’s CEO approval rating and positive business outlook
rating—indicating the percentage of employees who believe their
employer’s business will get better in the next six months
was
not taken into account to determine rank or overall company rating on
either list, though we display these added data points for additional
insight into each of these companies.

*By a company name denotes a current or past Battery investment. For
a full list of all Battery investments and exits, please click
here.

**Next to CEO approval rating or positive business outlook rating
denotes that data is based on less than 30 ratings.

***Denotes a private company that went public or was acquired after
3/21/19

The information provided is solely intended for the use of
entrepreneurs, corporate CEOs and founders regarding Battery Ventures’
potential financing capabilities for prospective portfolio companies.
The information is current as of the date it was published. The contents
are not intended to be used in the investment decision-making process
related to any product or fund managed by Battery Ventures. No
assumption should be made that the investments identified above were or
will be profitable. It should also not be assumed that recommendations
made in the future will be profitable or equal the performance of the
companies identified above. Battery Ventures has no obligation to
update, modify or amend the content of this report nor notify its
readers in the event that any information, opinion, projection, forecast
or estimate included, changes or subsequently becomes inaccurate.

About Battery Ventures

Battery strives to invest in cutting-edge, category-defining businesses
in markets including software and services, Web infrastructure, consumer
Internet, mobile and industrial technologies. Founded in 1983, the firm
backs companies at stages ranging from seed to private equity and
invests globally from offices in Boston, the San Francisco Bay Area,
London, Israel and New York. Follow the firm on Twitter
@BatteryVentures, visit our website at www.battery.com and
find a full list of Battery’s portfolio companies here.

Contacts

Battery Ventures:
Megan Dyer Maxwell
GMK Communications for
Battery
[email protected]

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