Last week, about 140 top CEOs and software-company founders stuck their heads in the cloud.
These leaders—and more than a dozen high-profile speakers—spent a day sharing insights with each other at the first-ever CloudNY Summit, an invitation-only conference for founders and CEOs of breakout cloud and SaaS companies. Held in New York City and organized by Battery Ventures and FirstMark Capital, the event gave attendees a chance to share insights about topics as varied as hiring, scaling sales teams, ramping marketing programs and planning for an IPO.
At the conference, Battery General Partner Neeraj Agrawal and Vice President Logan Bartlett also unveiled their new “Software 2017” report, which asserts that software is now creating roughly $1.4 trillion in economic value in the U.S., or 8% of GDP. Those figures are expected to grow to $2 billion in value, and 10% of GDP, by 2020, Agrawal and Bartlett said.
“Software’s time has come,” Agrawal said. “The cost of starting a software company is lower than ever. And as spending on traditional software categories, like ERP and CRM, continues to grow—and as software seeps into newly smart products like cars, medical devices, and next-generation industrial tools—we are looking at a category that is a major component of our nation’s economy and a driver of jobs.”
Speakers at CloudNY included Zach Nelson, CEO of NetSuite; Godfrey Sullivan, the chairman and former CEO of Splunk*; John Collison, co-founder and president of Stripe; Jyoti Bansal, founder of AppDynamics*; Scott Dorsey, co-founder and former CEO of ExactTarget*; Matt Wallach, co-founder and president of Veeva; Phil Fernandez, co-founder and former CEO of Marketo*; Tom Ebling, CEO of Demandware; Ragy Thomas, founder and CEO of Sprinklr*; Carsten Thoma, founder of hybris; Gail Goodman, former CEO, Constant Contact; and Clark Valberg, co-founder and CEO of InVision.
*For a full list of all Battery investments and exits, please click here.