The Information selected 50 companies across six sectors to be on an inaugural list of the most promising private tech startups.
It’s a good time to be a startup that sells software that helps developers and IT staff manage tasks associated with building apps that run on the cloud. Three of the companies on this list are part of a broad category known as “observability,” which includes services that track performance of apps running on cloud providers and in private data centers. They’re all trying to duplicate the stock market success of firms like Splunk and Datadog, which are key pillars of the shift to cloud applications and have both done well during the pandemic. There is plenty of room for multiple companies to succeed.
Other startups on the list reflect broader trends in software development, including managing apps that have been split up into smaller pieces, known as microservices; building faster websites; managing back-office work like contracts; managing networking and cybersecurity configurations; and helping companies analyze data they generate—a particularly hot area thanks to the recent IPO success of “data warehouse” provider Snowflake.