What are the most valued startups in the cloud computing market?

In our updated market reports, you will find everything you need
This page tracks the most valuable startups in the cloud computing market, from AI infrastructure providers to databases, security platforms and developer tools.
We update this cloud computing startup ranking every month as companies raise capital, complete acquisitions or reach new public market valuations.
The database combines reported valuations with structured estimates when recent valuation figures are not publicly available.
A quick summary table
| Metric | Value |
|---|---|
| Most valuable cloud computing startup | Anthropic, $965.0B–$1.2T |
| Second most valuable cloud computing startup | OpenAI, $852.0B–$909.0B |
| Median cloud computing startup valuation | Approximately $1.35B |
| Cloud computing valuation captured by the top 10 | Approximately 91% |
| Top cloud computing valuation versus median | Approximately 802 times |
| Median cloud valuation-to-capital-raised ratio | Approximately 4.2 times |
| Cloud computing startups valued at $1B+ | Approximately 61 |
Top startups in the cloud computing market ranked by valuation
Here is an updated table that ranks the top startups in the cloud computing market based on their latest reported or estimated valuations.
| # | Startup Name | What They Do | Current Valuation ($) | Valuation Confidence Level | Valuation Type | Evidence Status | Total Funding ($) | Funding Confidence Level |
|---|---|---|---|---|---|---|---|---|
| 1 | Anthropic | Claude AI models and safety | $965.0B–$1.2T | Strong Confidence | Announced Private Round Valuation | Estimated | $132.0B | Partial Confidence |
| 2 | OpenAI | Frontier AI models and platform | $852.0B–$909.0B | Strong Confidence | Announced Private Round Valuation | Estimated | $180.3B | Partial Confidence |
| 3 | xAI | Grok models and AI infrastructure | $235.0B–$250.0B | Partial Confidence | Acquisition Value | Estimated | $47.0B | Strong Confidence |
| 4 | Databricks | Data lakehouse and AI platform | $100.0B–$110.0B | Strong Confidence | Announced Private Round Valuation | Estimated | $19.2B | Strong Confidence |
| 5 | CoreWeave | GPU cloud infrastructure provider | $49.1B | Full Confidence | Public Market Cap | Observed | $2.0B | Strong Confidence |
| 6 | Wiz | Cloud security posture platform | $32.0B | Full Confidence | Acquisition Value | Observed | $1.9B | Strong Confidence |
| 7 | VAST Data | AI data infrastructure platform | $30.0B | Full Confidence | Announced Private Round Valuation | Observed | $1.4B | Strong Confidence |
| 8 | Scale AI | AI data and model evaluation | $29.0B–$30.0B | Strong Confidence | Proxy-Based Estimate | Implied | $15.9B | Strong Confidence |
| 9 | Perplexity | AI answer search engine | $18.0B–$22.0B | Partial Confidence | Announced Private Round Valuation | Estimated | $1.7B | Partial Confidence |
| 10 | Fluidstack | Managed AI compute clusters | $16.0B–$18.0B | Partial Confidence | Active Raise Valuation | Estimated | $1.1B | Partial Confidence |
| 11 | ClickHouse | Real-time analytical database platform | $15.0B | Full Confidence | Announced Private Round Valuation | Observed | $1.1B | Strong Confidence |
| 12 | Nscale | Sovereign AI cloud infrastructure | $14.6B | Full Confidence | Announced Private Round Valuation | Observed | $3.7B | Strong Confidence |
| 13 | Mistral AI | European frontier AI models | $13.7B–$13.8B | Full Confidence | Announced Private Round Valuation | Observed | $3.2B | Full Confidence |
| 14 | Supabase | Open-source Postgres application platform | $10.5B | Full Confidence | Announced Private Round Valuation | Observed | $1.0B | Full Confidence |
| 15 | Crusoe | Clean-energy AI cloud infrastructure | $10.0B | Full Confidence | Announced Private Round Valuation | Observed | $2.5B | Full Confidence |
| 16 | Vercel | Frontend cloud and AI deployment | $9.3B | Full Confidence | Announced Private Round Valuation | Observed | $863M | Strong Confidence |
| 17 | Replit | AI software creation platform | $9.0B | Full Confidence | Announced Private Round Valuation | Observed | $852M | Partial Confidence |
| 18 | Grafana Labs | Open-source observability and monitoring | $8.3B–$9.1B | Strong Confidence | Announced Private Round Valuation | Implied | $1.1B | Partial Confidence |
| 19 | Together AI | Open-source AI acceleration cloud | $8.3B | Full Confidence | Announced Private Round Valuation | Observed | $1.2B | Full Confidence |
| 20 | Cohere | Enterprise AI language models | $7.0B | Strong Confidence | Announced Private Round Valuation | Observed | $1.5B | Strong Confidence |
| 21 | Lambda | GPU cloud for AI developers | $6.0B–$7.0B | Partial Confidence | Implied Valuation from Raise | Estimated | $2.4B | Strong Confidence |
| 22 | Fivetran | Automated enterprise data movement | $5.0B–$7.0B | Partial Confidence | Comparables-Based Estimate | Estimated | $730M | Full Confidence |
| 23 | Snyk | Developer-first application security | $5.0B–$7.0B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $1.5B | Strong Confidence |
| 24 | Harness | AI software delivery platform | $5.5B | Full Confidence | Announced Private Round Valuation | Observed | $595M | Strong Confidence |
| 25 | Cato Networks | Cloud-delivered enterprise networking security | $4.8B–$5.5B | Strong Confidence | Announced Private Round Valuation | Estimated | $1.2B | Strong Confidence |
| 26 | Netskope | Cloud and network security | $4.9B | Full Confidence | Public Market Cap | Observed | $2.0B | Strong Confidence |
| 27 | Cockroach Labs | Distributed cloud SQL database | $4.2B–$5.2B | Partial Confidence | Comparables-Based Estimate | Estimated | $633M | Full Confidence |
| 28 | Cribl | Routes and manages telemetry data | $4.2B–$5.2B | Strong Confidence | Revenue or ARR Multiple Estimate | Estimated | $596M | Strong Confidence |
| 29 | Modal | Serverless cloud for AI workloads | $4.7B | Full Confidence | Announced Private Round Valuation | Observed | $465M | Full Confidence |
| 30 | Chainguard | Secures software supply chains | $3.3B–$3.8B | Strong Confidence | Announced Private Round Valuation | Estimated | $612M | Full Confidence |
| 31 | Vultr | Independent cloud AI infrastructure | $3.5B | Strong Confidence | Announced Private Round Valuation | Observed | $333M | Full Confidence |
| 32 | Chronosphere | Cloud-native observability platform | $3.4B | Full Confidence | Acquisition Value | Observed | $369M | Partial Confidence |
| 33 | Postman | API development collaboration platform | $1.0B–$5.6B | Low Confidence | Comparables-Based Estimate | Estimated | $433M | Full Confidence |
| 34 | dbt Labs | Analytics engineering transformation platform | $2.5B–$3.5B | Partial Confidence | Acquisition Value | Estimated | $416M | Full Confidence |
| 35 | LaunchDarkly | Feature management and experimentation | $2.5B–$3.5B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $330M | Full Confidence |
| 36 | Sentry | Developer application performance monitoring | $2.5B–$3.3B | Partial Confidence | Comparables-Based Estimate | Estimated | $217M | Full Confidence |
| 37 | Sysdig | Cloud-native runtime security | $2.2B–$3.2B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $744M | Full Confidence |
| 38 | Docker | Container development platform | $2.1B–$3.0B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $436M | Partial Confidence |
| 39 | Redis | Real-time in-memory data platform | $2.1B–$2.7B | Strong Confidence | Revenue or ARR Multiple Estimate | Estimated | $356M | Full Confidence |
| 40 | Kong | API management platform | $2.0B–$2.6B | Strong Confidence | Announced Private Round Valuation | Estimated | $345M | Partial Confidence |
| 41 | Druva | Cloud data protection platform | $1.8B–$2.4B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $475M | Strong Confidence |
| 42 | OwnBackup | SaaS data protection platform | $1.9B | Full Confidence | Acquisition Value | Observed | $507M | Partial Confidence |
| 43 | Orca Security | Agentless cloud security platform | $1.5B–$2.3B | Partial Confidence | Comparables-Based Estimate | Estimated | $632M | Strong Confidence |
| 44 | Wasabi | Low-cost cloud object storage | $1.8B | Full Confidence | Announced Private Round Valuation | Observed | $439M | Partial Confidence |
| 45 | Weka | AI-native data storage platform | $1.6B–$1.9B | Strong Confidence | Revenue or ARR Multiple Estimate | Estimated | $375M | Partial Confidence |
| 46 | Egnyte | Secure content governance platform | $1.5B–$1.7B | Strong Confidence | Announced Private Round Valuation | Observed | $137M | Partial Confidence |
| 47 | Tailscale | Zero-trust private networking | $1.4B–$1.8B | Strong Confidence | Announced Private Round Valuation | Estimated | $275M | Full Confidence |
| 48 | Coralogix | AI-powered enterprise observability platform | $1.6B | Full Confidence | Announced Private Round Valuation | Observed | $550M | Partial Confidence |
| 49 | Airbyte | Open-source data integration | $1.2B–$1.8B | Partial Confidence | Comparables-Based Estimate | Estimated | $181M | Full Confidence |
| 50 | Render | Cloud application hosting platform | $1.5B | Full Confidence | Announced Private Round Valuation | Observed | $257M | Strong Confidence |
| 51 | Teleport | Identity-based infrastructure access | $1.2B–$1.7B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $169M | Strong Confidence |
| 52 | Nasuni | Hybrid cloud file platform | $1.2B–$1.5B | Partial Confidence | Comparables-Based Estimate | Estimated | $218M | Partial Confidence |
| 53 | CircleCI | CI/CD automation platform | $1.2B–$1.5B | Partial Confidence | Proxy-Based Estimate | Estimated | $313M | Full Confidence |
| 54 | Matillion | Cloud data integration platform | $1.1B–$1.5B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $312M | Strong Confidence |
| 55 | Aqua Security | Cloud-native application security | $900M–$1.3B | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $325M | Full Confidence |
| 56 | CAST AI | Automates Kubernetes cloud optimization | $1.0B–$1.2B | Strong Confidence | Announced Private Round Valuation | Observed | $173M | Partial Confidence |
| 57 | Anyscale | Ray-based AI compute platform | $900M–$1.2B | Partial Confidence | Comparables-Based Estimate | Estimated | $260M | Strong Confidence |
| 58 | RunPod | AI developer GPU cloud | $1.0B | Full Confidence | Announced Private Round Valuation | Observed | $122M | Partial Confidence |
| 59 | Neon | Serverless PostgreSQL database platform | $1.0B | Full Confidence | Acquisition Value | Observed | $131M | Partial Confidence |
| 60 | Astronomer | Managed Apache Airflow orchestration | $800M–$1.2B | Partial Confidence | Implied Valuation from Raise | Implied | $376M | Partial Confidence |
| 61 | Yugabyte | Distributed cloud SQL database | $800M–$1.2B | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $291M | Strong Confidence |
| 62 | Observe | AI-powered telemetry analytics platform | $1.0B | Strong Confidence | Acquisition Value | Observed | $306M | Partial Confidence |
| 63 | Monte Carlo | Data and AI observability | $800M–$1.1B | Partial Confidence | Comparables-Based Estimate | Estimated | $236M | Strong Confidence |
| 64 | Aviatrix | Multicloud network security | $700M–$1.2B | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $346M | Strong Confidence |
| 65 | Alkira | Multicloud networking as service | $700M–$1.1B | Partial Confidence | Implied Valuation from Raise | Implied | $184M | Partial Confidence |
| 66 | Netlify | Cloud platform for web applications | $700M–$1.0B | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $212M | Full Confidence |
| 67 | Hasura | GraphQL and data-access platform | $650M–$950M | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $137M | Strong Confidence |
| 68 | Timescale | PostgreSQL time-series database platform | $650M–$950M | Low Confidence | Comparables-Based Estimate | Estimated | $181M | Partial Confidence |
| 69 | SingleStore | Real-time distributed SQL database | $650M–$850M | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $410M | Partial Confidence |
| 70 | Pinecone | Managed vector database platform | $650M–$850M | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $138M | Full Confidence |
| 71 | Railway | Developer cloud deployment platform | $550M–$800M | Strong Confidence | Implied Valuation from Raise | Implied | $124M | Strong Confidence |
| 72 | Starburst | Distributed data analytics platform | $500M–$750M | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $414M | Full Confidence |
| 73 | Hammerspace | AI data orchestration platform | $500M–$650M | Strong Confidence | Announced Private Round Valuation | Observed | $157M | Strong Confidence |
| 74 | MotherDuck | Serverless DuckDB analytics platform | $500M–$600M | Strong Confidence | Announced Private Round Valuation | Implied | $133M | Partial Confidence |
| 75 | Replicate | Runs open-source AI models | $450M–$550M | Partial Confidence | Acquisition Value | Estimated | $58M | Full Confidence |
| 76 | CloudZero | Cloud cost intelligence platform | $420M–$560M | Partial Confidence | Implied Valuation from Raise | Implied | $119M | Partial Confidence |
| 77 | Firebolt | High-performance cloud data warehouse | $350M–$600M | Low Confidence | Comparables-Based Estimate | Estimated | $269M | Full Confidence |
| 78 | Upbound | Cloud control plane platform | $350M–$550M | Low Confidence | Comparables-Based Estimate | Estimated | $69M | Full Confidence |
| 79 | Fly.io | Edge application cloud | $350M–$500M | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $111M | Strong Confidence |
| 80 | PlanetScale | Serverless MySQL database platform | $300M–$500M | Low Confidence | Comparables-Based Estimate | Estimated | $105M | Full Confidence |
| 81 | Finout | Enterprise FinOps cost platform | $300M–$440M | Partial Confidence | Implied Valuation from Raise | Implied | $85M | Full Confidence |
| 82 | Honeycomb | Observability for distributed applications | $280M–$420M | Low Confidence | Comparables-Based Estimate | Estimated | $150M | Strong Confidence |
| 83 | Twingate | Zero-trust network access | $250M–$450M | Low Confidence | Comparables-Based Estimate | Estimated | $67M | Partial Confidence |
| 84 | Qdrant | Open-source vector search infrastructure | $280M–$400M | Partial Confidence | Implied Valuation from Raise | Implied | $88M | Strong Confidence |
| 85 | Pulumi | Infrastructure as code platform | $275M–$400M | Partial Confidence | Comparables-Based Estimate | Estimated | $99M | Full Confidence |
| 86 | Zesty | Dynamic cloud cost optimization | $250M–$400M | Low Confidence | Comparables-Based Estimate | Estimated | $117M | Full Confidence |
| 87 | Materialize | Streaming SQL database platform | $220M–$380M | Low Confidence | Comparables-Based Estimate | Estimated | $108M | Full Confidence |
| 88 | HYCU | Multi-cloud backup platform | $220M–$320M | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $141M | Strong Confidence |
| 89 | Weaviate | Open-source vector database platform | $180M–$300M | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $68M | Full Confidence |
| 90 | Mezmo | Telemetry data pipeline platform | $180M–$300M | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $110M | Strong Confidence |
| 91 | Dagster | Data orchestration platform | $180M–$300M | Low Confidence | Implied Valuation from Raise | Implied | $47M | Strong Confidence |
| 92 | Tyk | API gateway platform | $150M–$300M | Low Confidence | Comparables-Based Estimate | Estimated | $41M | Partial Confidence |
| 93 | Prefect | Workflow orchestration platform | $140M–$240M | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $44M | Strong Confidence |
| 94 | Logz.io | Cloud-native logs and observability | $140M–$230M | Low Confidence | Revenue or ARR Multiple Estimate | Estimated | $123M | Strong Confidence |
| 95 | Vantage | Cloud cost management platform | $110M–$170M | Partial Confidence | Revenue or ARR Multiple Estimate | Estimated | $25M | Full Confidence |
| 96 | StrongDM | Secure infrastructure access management | $75M–$125M | Low Confidence | Acquisition Value | Estimated | $110M | Strong Confidence |
| 97 | Doppler | Secrets management for developers | $65M–$115M | Low Confidence | Comparables-Based Estimate | Estimated | $29M | Strong Confidence |
| 98 | Clumio | Cloud backup automation platform | $47M | Full Confidence | Acquisition Value | Observed | $261M | Strong Confidence |
Key valuation trends in the cloud computing market
Insights
- The top 10 cloud computing startups capture roughly 91% of the combined valuation in this ranking, mainly because foundation-model companies sit far above traditional infrastructure and software businesses.
- Anthropic, OpenAI, xAI and Databricks account for more than $2.3 trillion of midpoint valuation, showing how AI platforms have reshaped the upper end of the cloud computing market.
- CoreWeave, Wiz, VAST Data, ClickHouse and Nscale hold about $141 billion in combined value after raising around $10.1 billion, equal to roughly fourteen dollars of value for every dollar raised.
- VAST Data’s $30 billion valuation is more than twenty-one times its $1.4 billion of funding, making VAST Data one of the most capital-efficient scaled cloud infrastructure companies in the database.
- ClickHouse and Supabase are worth $25.5 billion combined after raising about $2.1 billion, showing the strong valuation premium attached to open-source cloud data infrastructure with commercial adoption.
- CoreWeave’s $49.1 billion public valuation exceeds the combined value of ClickHouse, Nscale, Mistral AI and Crusoe, highlighting the market demand for immediately available GPU computing capacity.
- Wiz’s $32 billion acquisition value equals almost seventeen times the cloud security company’s funding, creating a powerful strategic exit benchmark for security platforms with broad enterprise coverage.
- Harness and Modal have reached combined valuations of $10.2 billion on about $1.1 billion of funding, suggesting that AI-focused developer infrastructure can produce valuation-to-capital ratios near ten times.
- Cloud computing acquisition outcomes remain highly uneven, from Wiz at $32 billion to Clumio at $47 million, showing that strategic relevance matters more than the amount of capital previously raised.
- Clumio’s $47 million acquisition value represents less than one-fifth of its $261 million funding, illustrating the downside faced by heavily financed cloud startups that lose differentiation or growth momentum.
- Database valuations are spread across analytical, PostgreSQL, distributed SQL, in-memory and vector architectures, suggesting investors reward workload specialization rather than expecting one database model to dominate.
- Security and AI infrastructure dominate the companies valued above $10 billion, while observability, FinOps and workflow tools generally remain in lower valuation tiers.
A few word about our methodology
As you can see, we built a database that ranks startups in the cloud computing market based on their current valuation.
Estimating cloud computing startup valuations is not always straightforward. Many companies do not publicly disclose their valuation, and the available information can vary widely depending on the company and its stage.
To build this ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.
Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed cloud companies, or official acquisition prices.
When a cloud computing company is publicly listed, we use its current market capitalization as the reference valuation.
If a cloud computing startup was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.
When a startup recently raised capital but the valuation was not disclosed, we estimate the implied valuation using typical dilution levels for that stage of fundraising.
In some cases, we also estimate valuations using operating metrics such as revenue, ARR, cloud consumption, customer traction or infrastructure capacity, combined with valuation multiples from comparable companies.
When direct financial data is not available, we may rely on carefully selected cloud computing companies and other signals such as hiring growth, investor quality, customer adoption or product traction.
All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by strong operating metrics and comparable company analysis.
We also carefully evaluate the age of every data point. Recent information carries more weight, while older cloud computing data is treated cautiously and adjusted conservatively when necessary.
Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.
Because valuation data is not always fully public, each cloud computing startup in the ranking is assigned a confidence level based on the reliability, recency and consistency of the available evidence.
Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.
When confidence is lower, we take a more conservative approach by widening the valuation range. This helps reflect the uncertainty and increases the probability that the true valuation falls within the estimated range.
In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.
If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.
Finally, know that we update the dataset once per month, so come back here if you need fresh information.
Related blog posts
- The main fundraising trends in the cloud computing market
- The startups that have raised the most funding in the cloud computing market
- How healthy is startup funding in the cloud computing market right now?
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