Methodology
Designed to be institutional, neutral, and inclusive of all company growth stages.
The methodology for the Enterprise Tech 30 involves two phases: a first phase to identify a candidate list of companies through extensive primary and secondary research; and a second phase to assess and rank the companies through an institutional investor survey.
556Companies included for selection from an original list of 20k+ VC-backed companies
70% Of data is based on selections outside the VC’s portfolio
10 Per survey participant per stage to administer
Phase I
This year's candidate list included 556 companies; 166 early-stage, 181 mid-stage, 176 late-stage, and 33 giga-stage.
Phase II
The investor survey was designed to capture unbiased perspectives from the participants. Participants were permitted to select up to 10 companies per stage—no more than three of which could come from the participants portfolios.
The methodology for ET30 is based on our research team’s work in startups and venture capital since 2001. Companies cannot apply, pay, or lobby for placement in the ET30. The ET30 is conducted in partnership with a rare group of venture capitalists, and it is our privilege at Wing to work with our colleagues in the industry. The participants span early-, mid-, late-, and multi-stage investment firms, with successful backgrounds and substantial reach in enterprise technology. Collectively, the venture capital firms have invested in 87% of the $1B+ exits and unicorns in enterprise technology since January 2016.
The original candidate list of companies was built through four research sources: 1) companies who received six or more votes in last year’s ET30, 2) a data science analysis of 20,000+ startups based on the prior five years’ ET30 results, 3) multiple PitchBook queries from PitchBook’s company universe of venture-backed companies, 4) Wing’s primary research in identifying, reviewing, and meeting with private companies, and 5) recommendations from the venture capitalists and corporate development heads. 70% of the data signals in ET30 are venture capitalists’ votes on companies outside of their portfolios.
Participation from 96 venture capitalists and 30 corporate development heads
ET30 is conducted in partnership with a prestigious group of venture capitalists and corporate development teams. Investment partners are invited to ET30 based on their track record, expertise, and reputation for discernment in enterprise technology. The assets under management for the venture capital firms ranged from $50 million to $150 billion.
Corporate Development Teams
This year, 36 corporations participated including 24 publicly-held and 12 privately-held, pre-IPO companies. The corporations’ enterprise values ranged from $2 billion to more than $1 trillion. 50% had enterprise values between $10 billion and $500 billion.
The corporations spanned sectors such as: cloud, collaboration, communication, data, developer platform, hrtech, IoT, marketing tech, networking, payment, productivity, security, storage, systems integration, and vertical. Collectively, the 36 corporations have done 154 acquisitions for more than $40 billion since January 1, 2022.
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