Wing Venture Capital Releases Fourth Annual Enterprise Tech 30 List--Developer- and Data Stack-Focused Companies Dominate the List

SAN FRANCISCO, March 10, 2022 /PRNewswire/ -- Wing Venture Capital, a venture capital firm investing in early-stage companies that power the modern enterprise, today announced the fourth annual Enterprise Tech 30—a definitive list of the most promising, private enterprise tech private companies across all stages of maturity.

This list and accompanying research are the product of a two-phase process to distill a stack-ranked list of the top venture-backed enterprise tech companies and to uncover key insights and trends driving the market. Of the 15,000+ venture-backed enterprise tech companies in consideration, 40 companies have been selected as the enterprise tech leaders, segmented by "stage" as determined by an institutional research process.

This years' list expanded to include a fourth 'Giga' category of companies, and adjusted stage parameter, to reflect changing dynamics in venture capital financings, while maintaining the brand and franchise for ET30

This year, 97 venture capitalists across 79 venture capital firms participated in determining the ET30. The assets under management for the 79 firms ranged from $50 million to $90 billion.

The Enterprise Tech 30 for 2022 are:

The companies are categorized by total capital raised. The new Giga stage includes companies that have raised $1 billion or more, and parameters for early-, mid-, and late-stage companies were adjusted; early-stage includes companies that have raised $35 million or less; mid-stage from $35 million to $150 million; and late-stage includes $150 million or more.

"This year's Enterprise Tech 30 list highlights the founders and teams driving innovation and shaping the future of the modern enterprise," said Peter Wagner, Founding Partner at Wing Venture Capital. "In particular, it's exciting to see product-led growth companies and those in the developer tool space continue to push the envelope of what's possible."

The research process for uncovering the Enterprise Tech 30 also uncovered insights about the state of enterprise tech, including:

• As observed last year, product-led growth continues its strong presence in the ET30. This year, once again, 80 percent (32 of 40) of ET30 companies employ a product-led growth model. We have seen sustained year-over-year growth in this trend since 2019.
• 3 sectors account for >70% of the highest-potential companies listed: Developer platform and tools, modern data stack, and productivity and collaboration.
• Early- and mid-stage companies are ascending to the Enterprise Tech 30 more quickly: for 2021 and 2022 cohorts, the median time since founding for early-stage was 2.7 years, compared to 5.0 years and 5.7 years for 2019 and 2020 cohorts, respectively. The median time since founding for mid-stage was 3.7 years for 2022 cohort, as compared to 6.7 years for 2021 and 2020 cohorts.
• Mid- and late-stage companies are raising more capital, at higher valuations, and in shorter time frames. For the 2022 cohort, the median last deal amounts were $75 million and $220 million for mid and late-stage, respectively, as compared to $50 million and $180 million for mid and late-stage, respectively, for 2021 cohort.
• Developer platforms and tools are over-represented with 38 percent of companies on this year's list as compared to other sectors.
• Many of this year's companies exist in multiple categories, with several spanning the 'developer tools' and 'data stack' or 'low-code automation' categories simultaneously.
• 23 percent of companies in this year's ET30 focus on improving how we work.
• 15 percent of companies in this year's ET30 are in security, and another 15 percent are in the financial technology space.
• 70 percent of CEOs in this year's ET30 are millennials with the median age of 36 across early- and mid-stage companies—hopping to 41 for late-stage.
• 9 out of 10 companies selected by corporate development teams also appeared on the core ET30 list selected by the Venture Capitalists.

"Product-led companies continue to dominate the ET30 list, and it's no surprise given how PLG companies are dominating markets today," said Zach DeWitt, Partner at Wing Venture Capital. "Since good PLG strategy begins with meaningful, powerful data, it makes sense that nearly a quarter of the companies on this list are in the data stack category."

For more information on the research methodology, additional insights, and to view the results, visit: enterprisetech30.com.

ET30
The Enterprise Tech 30 List, facilitated by Wing Venture Capital, definitively names the top 40 most promising private companies in enterprise technology, as determined by leading venture capitalists in the sector. It shares the knowledge of the venture capital and corporate development communities to determine which Enterprise startups have the most potential to meaningfully shift how tech enterprises operate for the better.

Wing Venture Capital
Founded in 2013, Wing works with ambitious founders to enable the Modern Enterprise, which is an agile workplace built on data and powered by AI. We invest early, before it's obvious, leading Seed and Series A financings and engaging deeply with our signature company-building skills and resources. The current Wing portfolio includes some of today's most important enterprise technology companies such as Snowflake, Cohesity, and Gong.

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For more information, visit: www.wing.vc

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SOURCE Wing Venture Capital

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