SAN FRANCISCO and NEW YORK, Oct. 2, 2018 /PRNewswire/ -- Today, Bessemer Venture Partners and Nasdaq, Inc. announced the launch of the BVP Nasdaq Emerging Cloud Index, an industry index designed to track the performance of public companies providing cloud software and services.
The index is currently comprised of 46 publicly traded cloud companies that derive the majority of their sales from cloud computing products and services and have annual growth in excess of 15% for each of the last two fiscal years.
Bessemer Venture Partners partnered with Nasdaq because of the exchange's long-established history of creating indexes. Bessemer Venture Partners brings over two-decades of experience investing in private cloud companies to the table, including now-public companies Twilio, SendGrid, MindBody, Box, and DocuSign. Bessemer Venture Partners developed a specific methodology to determine which public companies are cloud. To be included on the BVP Nasdaq Emerging Cloud Index, a company must derive the majority of its revenue from business-oriented software products, which are delivered by customers through the cloud.
"For the past two decades, Bessemer Venture Partners has recognized, studied, and invested in the tremendous growth potential of cloud technology," said Byron Deeter, a partner at Bessemer Venture Partners who has led numerous successful private company cloud investments. "In 2013, we launched the BVP Cloud Index, which was a cloud-based index similarly based on criteria for what we believe to represent the universe of public cloud companies. Since inception, that index has become the benchmark for the cloud industry. This partnership with Nasdaq to create the BVP Nasdaq Emerging Cloud Index promises to create the next generation of our cloud index, supplementing Bessemer Venture Partners' cloud company experience with Nasdaq's expertise in building and maintaining an index such that industry participants can now access a real time perspective on the performance of the cloud sector."
"The collaboration between Nasdaq and Bessemer Venture Partners creates a tangible way to track the growth of companies that empower their businesses and change their industries through use of the cloud," said Dave Gedeon, Vice President and Head of Index Research & Development, Nasdaq Global Indexes. "The BVP Nasdaq Emerging Cloud Index is a compelling benchmark at a time when cloud services continues to gain traction as an essential tool of business growth."
The cloud companies included in the BVP Nasdaq Emerging Cloud Index and performance of the index is available at https://indexes.nasdaqomx.com/Index/Overview/EMCLOUD.
About Bessemer Venture Partners
Bessemer Venture Partners is a $5B venture capital firm that invests in consumer, enterprise and healthcare startups from seven offices around the world. One of the longest-standing venture capital firms, Bessemer Venture Partners invested in the early stages of Pinterest, Betterment, Procore, Intercom, Twitch and Skype and has helped 122 of its companies go public, including SendGrid, Twilio, MindBody, Shopify, Wix, Yelp and LinkedIn. Follow us @BessemerVP.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $14 trillion. To learn more, visit: http://business.nasdaq.com.
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SOURCE Bessemer Venture Partners
