Bessemer Venture Partners

𝐒𝐭𝐚𝐭𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐥𝐨𝐮𝐝 𝟐𝟎𝟐𝟒 serves as both a eulogy for the legacy cloud and a celebration of the current AI Cloud moment. ☁️ In this report, we focus entirely on the 𝐭𝐨𝐩 𝐟𝐢𝐯𝐞 𝐭𝐫𝐞𝐧𝐝𝐬 deemed most relevant to the AI Cloud by our global team of investors and the implications for the thrilling years we predict are headed our way. 𝐖𝐡𝐲? AI is all we can think about. In 2023, our enthusiasm for AI was underscored by our committed $1 billion in funding. A year later, we have total conviction in the promise of AI — we’ve backed multiple new investments in AI startups and the broad adoption of LLM technology in nearly every portfolio company roadmap. It’s rare to find a cloud company these days that isn’t, at some level, an AI company. Dive into this year's report, where we share our deep dive analysis, top predictions, spicy takes, and behind-the-scenes conversations with our investors. ☁️ 📈 🎥 https://lnkd.in/gTS4-kKX

🔎 Preview our latest Atlas Newsletter: 🛒 The return of Consumer Cloud 🇮🇳 Our flagship India SaaS report 📰 Bessemer news & highlights Read: https://lnkd.in/gHwzPh2g Subscribe: https://lnkd.in/g7fUBrm7

Startup leaders must know ✨ 𝐓𝐡𝐞 𝐖𝐡𝐲, 𝐓𝐫𝐲, 𝐁𝐮𝐲, 𝐅𝐥𝐲 𝐌𝐞𝐭𝐡𝐨𝐝.✨ The leader who built AWS’s beloved user community programs from scratch breaks it down. ⤵️ The foundation of developer relations is a good understanding of the developer journey—the process or funnel that technical users go through, from discovering your product to purchasing. And did you happen to know? 𝐃𝐞𝐯𝐑𝐞𝐥 𝐬𝐡𝐨𝐮𝐥𝐝 𝐦𝐚𝐤𝐞 𝐮𝐩 𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝟏% 𝐭𝐨 𝟑% 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐭𝐨𝐭𝐚𝐥 𝐨𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧’𝐬 𝐡𝐞𝐚𝐝𝐜𝐨𝐮𝐧𝐭. Adam FitzGerald, Bessemer's Operating Advisor for Bessemer and the VP of Developer Relations at HashiCorp, explains how to build, scale, resource, and measure the impact of developer relations at any startup — no matter if DevRel reports serves Marketing, Product, or Engineering. ✨ Get the guide. ✨ Link in comments!

On 20VC, Toast's CEO Aman Narang shares five essential lessons on scaling its business to a $13.4 billion market capitalization. What you need to know about the Toast business today: 🍞 $1.2 billion in ARR with 48.4% from payments 🍞 Toast Capital has reached $1 billion in annualized loans originated 🍞 875,000 restaurants in the US (Toast has 112,000: 13% market share) 🍞 75% of locations are coming from inbound channels Thank you, Harry Stebbings! 👀 Watch the full episode—link below. We also share Bessemer's investment memo from when Kent Bennett first backed the business in 2015. ⤵️

As part of our Operating Advisor spotlight series, we’re highlighting some of the incredible advisors within our network. With that in mind, please meet— Geeta C. ✨    Geeta is a seasoned expert in strategic Go-to-Market (GTM) initiatives with deep expertise in Cloud, XaaS, and hybrid cloud engagements. She has a proven track record of driving global business growth by expanding diverse teams, products, and services.    As a current Senior Director at Accenture, Geeta leads GTM initiatives for Generative AI solutions across North America between AWS and Accenture. Additionally, she champions the establishment of Gen AI Innovation Studios in North America.   Previously, Geeta was a Director at AWS, where she managed a team of senior leaders focused on strategic, high-value customers, ISVs, and startups across North America. Her responsibilities included revenue attainment, pre-sales, marketing, channel management, and P&L oversight across the region.    In her role as an Operating Advisor, Geeta guides Bessemer startups, founders, and senior leaders in developing profitable GTM and channel strategies. We’re thrilled to partner with Geeta and glad to have her as part of the Bessemer team. Learn more about Geeta below⬇️

On 20VC, Toast's CEO Aman Narang shares five essential lessons on scaling its business to a $13.4 billion market capitalization. What you need to know about the Toast business today: 🍞 $1.2 billion in ARR with 48.4% from payments 🍞 Toast Capital has reached $1 billion in annualized loans originated 🍞 875,000 restaurants in the US (Toast has 112,000: 13% market share) 🍞 75% of locations are coming from inbound channels Thank you, Harry Stebbings! 👀 Watch the full episode—link below. We also share Bessemer's investment memo from when Kent Bennett first backed the business in 2015. ⤵️

Startup leaders must know ✨ 𝐓𝐡𝐞 𝐖𝐡𝐲, 𝐓𝐫𝐲, 𝐁𝐮𝐲, 𝐅𝐥𝐲 𝐌𝐞𝐭𝐡𝐨𝐝.✨ The leader who built AWS’s beloved user community programs from scratch breaks it down. ⤵️ The foundation of developer relations is a good understanding of the developer journey—the process or funnel that technical users go through, from discovering your product to purchasing. And did you happen to know? 𝐃𝐞𝐯𝐑𝐞𝐥 𝐬𝐡𝐨𝐮𝐥𝐝 𝐦𝐚𝐤𝐞 𝐮𝐩 𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝟏% 𝐭𝐨 𝟑% 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐭𝐨𝐭𝐚𝐥 𝐨𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧’𝐬 𝐡𝐞𝐚𝐝𝐜𝐨𝐮𝐧𝐭. Adam FitzGerald, Bessemer's Operating Advisor for Bessemer and the VP of Developer Relations at HashiCorp, explains how to build, scale, resource, and measure the impact of developer relations at any startup — no matter if DevRel reports serves Marketing, Product, or Engineering. ✨ Get the guide. ✨ Link in comments!

Founders that sell to technical audiences have to contend with a paradox: 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐫𝐬 𝐨𝐟𝐭𝐞𝐧 𝐝𝐢𝐬𝐥𝐢𝐤𝐞 𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠. Yet, producing strong, technical content and leveraging SEO drives effective engagement and usage for developer-centric businesses. Content, advocacy, events, and other programming purpose-built for developer audiences culminated in what multi-billion dollar organizations like AWS, Atlassian, and GitHub now call developer relations (i.e., DevRel). ✨ Today, DevRel is also a model for best-in-class B2B SaaS marketing for companies selling to technical audiences. ✨ On Atlas, we share our comprehensive guide on the discipline through the expertise of Bessemer's Operating Advisor, Adam FitzGerald, the VP of Developer Relations at HashiCorp. Link in comments. ⤵️ #startups #developertooling #developerrelations #GTM

Congrats to the team DEFCON AI on their $44M Seed funding! DEFCON's mathematical optimization techniques and artificial intelligence help ensure that military personnel, equipment, and cargo reach the right places at the right times. h/t Christopher Wan Jason Scheller David Cowan Read more ⬇️

Founders that sell to technical audiences have to contend with a paradox: 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐫𝐬 𝐨𝐟𝐭𝐞𝐧 𝐝𝐢𝐬𝐥𝐢𝐤𝐞 𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠. Yet, producing strong, technical content and leveraging SEO drives effective engagement and usage for developer-centric businesses. Content, advocacy, events, and other programming purpose-built for developer audiences culminated in what multi-billion dollar organizations like AWS, Atlassian, and GitHub now call developer relations (i.e., DevRel). ✨ Today, DevRel is also a model for best-in-class B2B SaaS marketing for companies selling to technical audiences. ✨ On Atlas, we share our comprehensive guide on the discipline through the expertise of Bessemer's Operating Advisor, Adam FitzGerald, the VP of Developer Relations at HashiCorp. Link in comments. ⤵️ #startups #developertooling #developerrelations #GTM