The Tercera 30 is the first list to highlight the public and private cloud vendors that have put partners front and center in their growth strategy, creating ecosystems ripe for services partners
PRESS RELEASE – June 7, 2022 – Today Tercera revealed its inaugural list of the top cloud ecosystems for partners. The Tercera 30 identifies 30 cloud vendors that recognize the value of a thriving partner ecosystem. These vendors hold significant mindshare with enterprise customers, and offer both near-term and long-term potential for those looking to build or expand services businesses.
IT services is a trillion dollar industry, but has an economic impact far greater than that. Consultancies, integrators, managed service providers and digital engineering firms all play a critical role in driving demand and the success of SaaS products and cloud platforms, but it’s primarily products that get the attention from press, analysts and investors. The Tercera 30 flips the script on this, focusing on the potential of these products and platforms for people-based firms.
“When we started Tercera to invest in services companies, we had a clear mantra – that people matter more than products in the cloud’s third wave,” said Chris Barbin, CEO of Tercera. “That said, the fastest-growing IT services firms are built around partnerships and products, and the entrepreneurs running these firms need data to guide their decisions. Picking the right ecosystem to build a business or practice around can make the difference between a $1 million business, a $100 million business or a $1 billion business.”
The Tercera Top 30 is not meant to be a comprehensive list or a ranking, but an investor’s view on the market anchors, movers and challengers that are shaping the cloud’s third wave. It’s a mix of large, mature vendors that have written the playbook on partner-led growth, and fast-growing up-and-comers that are grabbing mindshare and market share.
It’s a powerful group with significant market momentum. The publicly traded vendors on this list represent more than $235 billion in annual revenue. The private companies have raised more than $7 billion in funding.
The Market Anchors
These are the 10 largest publicly traded cloud-focused ISVs. These vendors serve as a model for what a great partner ecosystem looks like and what others aspire to build. They have mature programs, often with hundreds to thousands of partners, including some of the biggest Global Systems Integrators (GSIs).
- Amazon Web Services (AWS)
- Google Cloud (GCP)
The Market Movers
These are 10 publicly-traded, high-growth cloud ISVs that are reinventing categories, growing fast and giving traditional players a run for their money. Each of these companies is actively building out their partner ecosystems, and taking up greater mindshare with buyers looking to modernize systems and processes for the digital age.
- Big Commerce
The Market Challengers
These are 10 high-growth private cloud ISVs that are grabbing outsized attention from influencers and investors. They represent companies across a wide variety of market segments, and while they may not yet have the market penetration of those in the Anchors or Movers categories, they are making waves.
“The companies profiled on this list have been successful for many reasons, but the partner ecosystems they’ve fostered around their products and platforms is a big component of their longevity and market momentum,” said Michelle Swan, Partner at Tercera. “These 30 companies alone work with more than 12,000 partners. That should say something about the market opportunity these cloud products and platforms present.”
To develop the list, Tercera evaluated more than 100 cloud-centric ISVs – a mix of publicly-traded and privately-owned providers. Tercera evaluated criteria such as enterprise value, funding and valuation, total addressable market, revenue and growth rates, services attach rates, third party research, marketplace reviews and, most importantly, the size and scope of their existing partner ecosystems.
Visit our Tercera 30 site to learn more about the companies in the Tercera 30, view interactive profiles and download our ebook
Tercera is an investment and advisory firm founded to accelerate the growth of people-centric businesses. Specializing in the $460 billion cloud professional services market, the Tercera team is composed of invested operators who know first-hand what it takes to build and scale a successful cloud services business. Tercera (Spanish for ‘third’) is on a mission to identify the people and partners who will lead the next wave of cloud computing – the Third Wave – and provide them with the capital, counsel and connections they need to scale faster and take an outsized share of the market. For more information, visit: https://www.tercera.io/.