Navan is Named No. 10 on the 2024 Forbes Cloud 100

Navan is thrilled to announce its No. 10 ranking on the prestigious Forbes 2024 Cloud 100 list. This recognition underscores our commitment to innovation and excellence in the cloud industry, placing us among the top private cloud companies globally.

A Benchmark for Cloud Excellence

2024 marks the sixth straight year Navan has been named to Cloud 100, which is now in its ninth year. The annual ranking is a testament to the thriving cloud industry.

Each year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies, evaluating them on market leadership (35%), estimated valuation (30%), operating metrics (20%), and people & culture (15%). The evaluation process is rigorous, with a panel of public cloud company CEOs providing critical insights into the rankings.

“For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security,” said Alex Konrad, the Forbes editor of the Cloud 100. “This year’s list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPOs.”

The Impact of AI and Market Leadership

The 2024 Cloud 100 list stands out as one of the most competitive cohorts in its nine-year history, with a total list value reaching $820 billion — the highest ever. AI has emerged as the highest valued category, with companies rapidly scaling and transforming the cloud industry, driving a significant year-over-year market cap increase of over $150 billion.

Navan has been at the forefront of this AI revolution, leveraging advanced machine learning and artificial intelligence to transform business travel and expense management. Our AI-driven platform streamlines booking processes, offers personalized travel recommendations, and provides real-time expense tracking, significantly enhancing user experience and operational efficiency. These innovations have not only elevated our market position but also contributed to the broader advancements in the cloud industry.

Celebrating Success and Looking Ahead

Navan's inclusion in the Cloud 100 is a significant milestone. It reflects our ongoing dedication to driving innovation and delivering exceptional value to our customers. We are honored to be recognized alongside such distinguished peers and are excited about the future of cloud technology.