The ETR Newsletter

A weekly burst of proprietary data & flash insights spanning the space as a sanity-check, juxtaposed to the hype and opinions flooding the enterprise technology landscape.

PE Industry Lists Top 40 Private Tech Firms

It recently came to our attention that Madrona Venture Group, in partnership with Goldman Sachs, organized 40 leading PE firms to vote on the top 40, AI-driven private tech companies in the marketplace. You can see the full list here. Much like last week’s list from CNBC, yet again, there was a significant amount of overlap with ETR’s Emerging Technology Survey (ETS), where 1100+ IT decision makers indicated their awareness, utilization, and churn for today’s leading private companies.

ETR Earnings Calendar

Once again, the earnings calendar is packed with many tech companies that ETR tracks in our quarterly Technology Spending Intentions Survey (TSIS) reporting over the next two weeks, such as Zoom, CrowdStrike, Salesforce, Elastic, Workday, and others. In advance of the earnings reports, ETR has compiled some recent data on a handful of those companies. 

“100% Cloud Within 3 Years”

In a recent ETR Insights interview, we spoke with the CIO of a large, municipal health agency that reported that his IT budget was “going up” with “more projects and more funding as well.” We discussed his organization’s current tech stack and most pressing IT initiatives, where Cloud migration was his “number one” priority, aiming to “migrate to the cloud within the next three years” and is eyeballing a “multi-cloud environment” that combines the best features and functions of AWS and Azure. He adds that cybersecurity is also “really high on everybody’s radar right now” as well, having witnessed one of his agency’s SaaS applications recently “hit by ransomware.”

CNBC and ETR Crossover

Earlier this week, CNBC published its first-ever Top 25 Enterprise Tech Startup List, stating “CNBC’s first-ever Top Startups for the Enterprise list highlights startups powering digital transformation, attracting strategic investments and potentially drawing acquisition interest. These are up-and-coming companies built by ambitious, creative, and innovative entrepreneurs who specifically set out to develop the latest technology in business intelligence, IT, cloud, big data, and cybersecurity as companies in all sectors of the economy allocate increasing levels of spending to technology.”

ETR Earnings Calendar

With earnings season underway, the calendar is packed with companies that ETR tracks in our surveys, and while no single input can paint an entire picture, our forward-looking spending intentions have been proven to correlate to future revenues. As such, let’s take a look at what the recent data said about some of the companies reporting next week, starting off with a deep dive into Akamai, whose improving data set warranted a new Positive outlook in the most recent technology spending intentions survey (TSIS). Akamai is set to report Tuesday, November 8th after the market close.

“Most Companies Get By Without Best-in-Class Security Tools” 

Our recent conversation with the Managing Director of Cyber Risk and CISO Advisory for a large consulting firm centered on information security vendors and macro trends. On the topic of spending priorities, he said it “is different by sector,” with “highly regulated industries such as banks” continuing to focus on pressing cybersecurity concerns and putting innovative projects like AI/ML in the back seat for a while. Meanwhile, he says some industries unfortunately still see cybersecurity as “optional,” calling out some pharmaceutical and food processing companies as examples where they “have 30,000 to 50,000 employees, with two people working in cybersecurity.” He says the “CIO’s explanation for the two-person strategy is, ‘We haven’t had any problems yet, so we’re not going to grow that area.” Our guest quickly rebutted that the “hasn’t happened to me” defense may not even be true, since “the bad guys can be in there 250 days before anybody finds out. In fact, if you don’t have the right tools, you’re never going to find out.”

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