Page 15 - Forbes Magazine-September 30, 2018

Procore The Cloud 100

23 Invision 33 Gusto
weekends, Courtemanche found progress on the
Fully remote San Francisco
house moving at a glacial pace. So he did what he CLARK VALBERG JOSH REEVES
EMPLOYEES: 700+ EMPLOYEES: 600+
knew best and coded his own program to keep FUNDING RAISED: $235 MIL FUNDING RAISED: $361.1 MIL
track. DESIGN AND COLLABORATION PAYROLL, BENEFITS AND HR
SOFTWARE
By 2004 Courtemanche had signed up con- 24 nCino 34 Looker
tractors for Hollywood stars like Eddie Murphy, Wilmington, NC Santa Cruz, CA
FRANK BIEN
Ben Stiller and Barbra Streisand to monitor their PIERRE NAUDÉ EMPLOYEES: 550
EMPLOYEES: 550 FUNDING RAISED: $177.5 MIL
home renovations with Procore. Courtemanche FUNDING RAISED: $150 MIL JOSH REEVES DATA ANALYTICS
BANK OPERATING SYSTEM
spoke the language of construction fluently. 33// GUSTO 35 Databricks
Growing up in the affluent La Jolla area of San 25 AppDirect San Francisco
San Francisco Gusto’s founders were sick ALI GHODSI
Diego, Courtemanche was an indifferent student, NICOLAS DESMARAIS AND DAN of watching their families EMPLOYEES: 450
SAKS FUNDING RAISED: $275 MIL
more interested in girls than schoolwork. But EMPLOYEES: 700 struggle with the paperwork DATA ANALYTICS
FUNDING RAISED: $245 MIL
construction was another story. After school he’d COMMERCE PLATFORM that comes with running 36 Darktrace
sweep out the floors of a cabinet shop, and by 17 26 Sprinklr small businesses, so they San Francisco; Cambridge,
decided to start a business
he’d become a journeyman carpenter after com- New York City England
that would take the pain out NICOLE EAGAN AND POPPY
pleting a 6-month apprenticeship. EMPLOYEES: 1,400 of payroll, health insurance EMPLOYEES: 700
RAGY THOMAS
GUSTAFSSON
A disastrous year at the University of Arizo- FUNDING RAISED: $228.5 MIL and HR. “Every year 40% of FUNDING RAISED: $179.5 MIL
SOCIAL MEDIA MANAGEMENT AI-BASED CYBERSECURITY
na, where he flunked out with a 0.3 GPA, led to a companies get fined for in-
27 Apttus correctly doing their pay- 37 Uptake
security guard job and then community college,
San Mateo, CA roll taxes,” says CEO Josh Chicago
where Courtemanche got the grades to be ac- NEEHAR GIRI Reeves. His startup hopes BRAD KEYWELL
EMPLOYEES: 1,300 EMPLOYEES: 650
cepted into a premed program in San Francisco. FUNDING RAISED: $329 MIL to serve as a shield, protect- FUNDING RAISED: $264 MIL
QUOTE-TO-CASH SOFTWARE INDUSTRIAL MANAGEMENT
Once north, he got caught up in the construc- ing small businesses from
tion boom of the early 1990s, “swinging a ham- 28 Anaplan government complexity and 38 Automation
San Francisco growing pains.
mer” for two years. Feeling burned out, he took Anywhere
—Samar Marwan San Jose, CA
FRANK CALDERONI
EMPLOYEES: 1,000
up a family friend’s FUNDING RAISED: $300 MIL MIHIR SHUKLA
EMPLOYEES: 1,000
offer to learn the tele- CONNECTED PLANNING FUNDING RAISED: $250 MIL
“HOLY phony software busi- 29 Toast 31 Confluent AUTOMATED BUSINESS
SOFTWARE
Palo Alto, CA
Boston
CRAP, I’VE ness, then taught CHRISTOPHER COMPARATO FUNDING RAISED: $81 MIL 39 Automattic
JAY KREPS
EMPLOYEES: 330
himself HTML. By
EMPLOYEES: 1,000
San Francisco
FUNDING RAISED: $245 MIL
BEEN GIVEN 1993 he was a soft- RESTAURANT MANAGEMENT DATA STREAMING PLATFORM FUNDING RAISED: $317 MIL
MATT MULLENWEG
EMPLOYEES: 771
32 HashiCorp
ware engineer; by
30 Veeam
WORDPRESS CREATOR
San Francisco
A TIME 1996 he’d founded a PETER MCKAY AND ANDREI FUNDING RAISED: $74 MIL 40 PointClickCare
Baar, Switzerland
DAVE MCJANNET
tech consultancy.
EMPLOYEES: 300
BARANOV
Mississauga, Ont.
EMPLOYEES: 3,600
MACHINE.” manche built the pro- DATA MANAGEMENT CLOUD INFRASTRUCTURE EMPLOYEES: 1,400
When Courte-
FUNDING RAISED: 0
MIKE WESSINGER
AUTOMATION
FUNDING RAISED: $85 MIL
totype for Procore CLOUD-BASED ELECTRONIC
HEALTH RECORDS
five years later, he was
shocked. Construction made up nearly 10% of 15// MEDALLIA 41 Sisense
New York City
America’s economy, but even as late as 2002 its When husband-and-wife duo Borge Hald and Amy Pressman EMPLOYEES: 447
AMIR ORAD
workers barely used the internet. “Holy crap, I’ve left Boston Consulting Group to form a company specializing in FUNDING RAISED: $94 MIL
gathering and analyzing customer feedback in 2001, Pressman DATA ANALYTICS
been given a time machine,” he thought.
told her husband she didn’t want to run the business when it
For a fledgling software business, Santa Barba- got too big. Seventeen years later, after a longer-than-anticipat- 42 AvidXchange
Charlotte, NC
ra was no San Francisco. But what it did have was ed CEO search, she got her wish. In August, Medallia announced MICHAEL PRAEGER
EMPLOYEES: 1,100
plenty of well-heeled refugees from the Bay Area it was appointing Leslie Stretch (who had just sold cloud firm FUNDING RAISED: $577 MIL
Callidus for $2.4 billion) as CEO ahead of an IPO push. BUSINESS BILL PROCESSING
and Los Angeles looking for a quieter life. One in-
Unusual in that it raised the bulk of its funding across mul-
vestor, Steve Zahm, who had founded and then 43 Vlocity
tiple rounds from just one firm (Sequoia Capital), Medallia took
sold the e-learning company DigitalThink for in $250 million in GAAP revenue San Francisco
DAVID SCHMAIER
$120 million, joined Procore as president in 2004 in its last fiscal year, triple what it FUNDING RAISED: $103 MIL
EMPLOYEES: 550
(a role he still holds today). A bigger fish, Double- had when it received a $1.25 billion VERTICALIZED CUSTOMER
valuation in 2015. Known for on- RELATIONSHIP MANAGEMENT
Click cofounder Kevin O’Connor, wrote Procore’s
line surveys, Medallia is trying to
first institutional check, leading a $950,000 seed make customer feedback valuable 44 Lookout
San Francisco
round and joining the startup’s board. to businesses anywhere online. As JIM DOLCE
EMPLOYEES: 350
Procore grew, but more modestly than hoped. for the IPO, Stretch says: “We ex- FUNDING RAISED: $280 MIL
There’s a saying in investing: If you’re early, you’re pect the company to be public in MOBILE CYBERSECURITY
the next several quarters, subject
just as good as wrong—and Procore was very LESLIE STRETCH to market conditions.” —A.K.
early. In 2006, four years after Procore was found-
94 | FORBES SEPTEMBER 30, 2018