We are half-way through 2017 and it's time to take stock of the hottest startups so far this year.
The 18 hottest enterprise startups of 2017, according to how investors value them
We're half-way through 2017 and its time to showcase some startup stars. We chose a metric called a "valuation step up" to select this list.
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For that we turned to Pitchbook, the website that tracks financial investments. Pitchbook sifted through its vast database to uncover the 383 startups that received funding so far in 2017 and that sell products or services to businesses, aka enterprise startups.
We chose a metric called a "valuation step up" to decide which of these startups were the hottest. A valuation step up indicates the increase in worth that investors ascribe to a particular startup. We measured between the valuation at the previous round of investment and right before the startup secured a new round (in wonky speak: post-money to pre-money).
Not all rounds are step ups. Sometimes they are down rounds.
Of the 383 rounds we looked at, 169 of them saw an increase in valuation. The median step up for the early stage startups was 1.73 times the previous valuation; for later stage, 1.39 times and all of the companies on this list had step-ups well above those medians.
No. 18: Icertis, 2.88X more valuable
Step-up: 2.88x more valuable in 2017 than the previous valuation
Raised to date: $47 million
Current valuation: $
No. 17: Confluent, 2.96X more valuable
Step-up: 2.96x
No. 16: C3 IoT, 2.98x more valuable
Step-up: 2.98x more valuable in 2017 than the previous valuation
No. 15: Smartsheet, 3.07X more valuable
more valuable in 2017 than the previous valuation
No. 14: KnowBe4: 3.12X more valuable
more valuable in 2017 than the previous valuation
No. 13: Lob, 3.33X more valuable
No. 12: Textio, 3.8X more valuable
No. 11: LeanDNA, 4.11X more valuable
No. 10: Instabase, 4.89X more valuable
No. 9: Momentum Machines, 5.85X more valuable
more valuable in 2017 than the previous valuation
No. 8: CiBO Technologies, 6.24X more valuable
No. 7: CloudCheckr, 6.94X more valuable
more valuable in 2017 than the previous valuation
CloudCheckr offers software to help an enterprise manage its cloud computing usage.
No. 6: CIMCON Lighting, 7.11X more valuable
No. 5: MatterHackers 8.65X more valuable
more valuable in 2017 than the previous valuation
No. 4: UiPath, 9.3X more valuable
UiPath makes workflow software that automates business processes.
No. 3: HackerEarth, 10.2X more valuable
No. 2: OpCity, 11.66X more valuable
No. 1: Roadrunner Recycling, 12X more valuable