2025 Year in Review

To our founders, leaders, & friends,

The startup playbooks of the past are being rewritten. Compute replaces code as the unit of cost. Margins compress, velocity accelerates, and growth outpaces every known benchmark. The AI supernovas driving this new economy are shipping faster, solving once intractable problems, and building the future before our very eyes. As investors, we’re backing founders at the earliest stages to help them turn an idea into reality in this new landscape.

We’re just getting started, and we launched two new funds in 2025, closing $1 billion for BVP Forge II and $350 million for our second India fund. We’re energized about what’s ahead as we build alongside founders who are reimagining what’s possible across industries, markets, and borders.

Forge ahead. 

Ten years of The Cloud 100

When we launched The Cloud 100 with Forbes in 2016, the goal was simple: celebrate the world’s leading private cloud companies. A decade later, the 2025 event marked its 10th anniversary, honoring cloud and AI pioneers like NVIDIA’s Jensen Huang, who have set the stage for AI’s massive next chapter.

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ATLAS Cloud 100 Benchmark 25 V1 1 Min Min
The $1T milestone

The Cloud 100 Benchmarks Report 2025

This year’s Cloud 100 cohort marked a historic milestone, surpassing $1 trillion in value for the first time in 10 years, as the race for AI talent and growth defines cloud leadership amid record-breaking 2025 valuations.

AI is rewriting the rules
Cloud's enduring impact

Cloud built the foundation. AI is now rewriting the rules.

In a decade, The Cloud 100 grew from $99B to $1.1T — proof of the cloud’s compounding power, and just a preview of how AI will shape the next generation of software leaders.

State of AI
AI benchmarks

The State of AI

Three years after the AI Big Bang, early galaxies are forming in the Cloud AI universe, with plenty of “dark matter” still swirling.

From Seed to IPO

At Bessemer, we take pride in supporting visionary founders long before they find product-market fit or traction, which is why we launched two incubators this year: Founders Garage and Bessemer Beam. We provide hands-on support throughout the founder journey to help transform bold ideas into category-defining companies.

Seed Founders Garage Min 1

Founders Garage

Founders Garage brings together the next generation of AI founders in a collaborative San Francisco workspace. Created in partnership with Twilio Founder Jeff Lawson, we accept a new cohort of builders each quarter to join the community.

Seed Page Redo Changes 2025 Min

Bessemer Beam

Bessemer Beam is a pre-incubator startup launchpad designed for academics with groundbreaking ideas who are ready to take the leap from research to building companies. Beam helps visionary thinkers transform bold concepts into viable AI startups.

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Never too early

Seed Summit 2025

This year’s Seed Summit brought together some of the brightest minds in early-stage investing, capturing the energy and ambition driving the next frontier of innovation.

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Building differently

Research to Runtime

A series for entrepreneurs, developers, and technical leaders building with AI. Co-hosts Talia Goldberg and Bhavik Nagda go behind the scenes with prominent AI engineers and founders to showcase how cutting-edge products are built — diving into best practices, breaking down real-world tactics, and discussing the frontier of what’s possible.

Hinge Health Founder
The path to IPO

Hinge Health: Reimagining possibilities and better outcomes with virtual care

Daniel Perez and Gabriel Mecklenburg built Hinge Health on a bold vision: to approach musculoskeletal care through relentless product innovation and patient-first values.

Celebrating IPOs and M&As

Indicates Enduring
Marketplaces
NYSE: STUB
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StubHub

Bessemer originally invested in Viagogo in 2012 and then helped finance the company’s acquisition of StubHub from eBay in 2020. The combined company is the leading global event ticketing marketplace on the Internet. StubHub went public in September 2025 (NYSE: STUB).

NYSE: STUB

Founded

2005

Partnered

2012
Fintech
ACQUIRED BY: XERO LIMITED
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Melio Payments

Melio Payments is a B2B payments experience, offering small businesses an easy-to-use tool for paying suppliers and controlling cash flow. In June 2025, Melio Payments was acquired by Xero Limited.

ACQUIRED BY: XERO LIMITED

Investors

Adam Fisher

Founded

2018

Partnered

2018

Roadmaps

Enterprise Fintech Israel
Robot hand and brain for Embodied intelligence Atlas main graphic
Deep tech

Intelligent robotics: the new era of physical AI

How robotics, edge computing, and AI are transforming physical automation — and the investment opportunities we see ahead. See how we’re redefining the infrastructure layer for robotics with Foxglove.

European Resilience Atlas Roadmap
Defense tech

Roadmap: European Resilience

An overview of our emerging investments aimed to protect democratic values and sovereignty in Europe through technology and innovation. Learn more about how the future of defense is software-defined autonomy with Auterion.

Data 3.0 in the Lakehouse era
Data

Roadmap: Data 3.0 in the Lakehouse Era

We’re moving beyond the modern data stack as a new architectural revolution sweeps the infrastructure landscape, ushering in unprecedented interoperability for enterprises in an AI age.

Moving beyond the modern data stack:

roadmap built world ai
Vertical software

Roadmap: Built World AI

The built world drives nearly a quarter of U.S. GDP and yet remains one of the least digitized sectors. Multimodal AI is enabling the next wave of innovation in how we design, build, and operate it.

Scaling work intelligence for industrial operations: