The seventh annual Cloud 100 list of the world’s top private cloud companies, produced by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures, recognizes standouts in tech’s hottest category from small startups to private-equity-backed giants. Ranging from Helsinki to Hong Kong, the companies on the list are selected for growth, sales, valuation and culture plus a reputation score derived in consultation with 26 CEO judges and executives from their public-cloud-company peers. The 2022 Cloud 100 includes companies that have taken investment from Bessemer Venture Partners and Salesforce Ventures, which helped create this list.

ServiceTitan is the world’s leading and fastest-growing technology platform for crafts - a global industry with a trillion dollars turnover. They help start-ups grow their businesses, simplify operations, improve customer service and increase sales. The company currently has over 7,500 customers and over 1,600 employees in Glendale, Atlanta, and Yerevan. ServiceTitan is the first Armenian technological unicorn. The company is also recognized as one of the US best employers by Forbes this year.

Over the past 10 years, the IT sector in Armenia has shown unprecedented growth, recording an average annual growth of 23%. Over the past two years, more than 20 start-up companies in Armenia have together received 700 million dollars of investment. Armenian start-ups are exempt from taxes on business, and the income tax for employees is 10%. According to 2021 data, the total turnover of IT companies operating in Armenia exceeded 1 billion dollars. As of 2021, the industry employs 29,000 professionals.