Finding the Fastest Growing B2B Tech Companies to Watch in 2024

If you could have invested in companies like Zoom, Shopify, or Crowdstrike early on, you may have struck gold. So where are the next generation of high-growth B2B tech disruptors that will shape industries over the next 5-10 years? How do you identify the private companies demonstrating meteoric momentum before they hit it big?

In this comprehensive guide, we’ll explore emerging technologies, analyze public company data, assess private market information, and leverage predictive models to uncover the most promising B2B tech firms poised for massive growth in 2024 and beyond.

Why Growth Matters

First, let‘s discuss why growth matters so much in the world of tech investing and corporate decision making. High growth rates signal a hot product in a hot market. They indicate current success and future potential.

For investors, triple-digit revenue expansion and swift customer adoption provide upside. Think about Shopify’s stock appreciating over 4,000% as the e-commerce platform tapped into retail industry transformation.

For enterprises seeking vendors, partners and acquisition targets, growth suggests innovation and relevance. If a technology solution is rapidly gaining market share, it’s more likely to become an industry leader and key partner.

Simply put, growth is a forward-looking indicator of impact and financial returns. For anyone trying to capitalize on tech disruption in B2B markets, identifying high-growth companies is critical.

Evaluating Public Company Growth

Publicly traded tech firms provide helpful benchmarks to assess growth, thanks to financial disclosures. Comparing key metrics over time for these companies can confirm where major momentum exists.

For example, here is revenue growth data on some of the fastest growing public B2B tech players from 2019 to 2021:

With triple (and in some cases10x) annual revenue expansion, these firms exemplify rapid acceleration. Crowdstrike and Datadog in cybersecurity, Cloudflare in edge computing, DocuSign in e-signature, and Zscaler in cloud security all saw massive growth as demand soared for their offerings.

Their stock prices followed suit, with 500-1000% returns from 2019-2021 signaling Wall Street‘s belief in their continued expansion. This public market data provides tangible evidence of where some of the hottest growth areas exist – and who is winning.

The Private Company Challenge

While public companies offer transparent perspective on growth, the challenge becomes identifying similar trends among private tech firms.

Thousands of private B2B technology companies across every industry segment are innovating and competing for market share. But with no mandated financial reporting like public competitors, evaluating their traction and momentum poses a tough challenge.

So how do we pinpoint the next generation of high-growth winners? Let‘s examine some of the methods and data sources that provide signals.

Tracking Emerging Technologies

One approach involves identifying brand new or newly hot technology sectors experiencing spikes in innovation, investment, and adoption.

While not company-specific, tools like Gartner‘s Hype Cycle spotlight emerging tech trends projected to reach mainstream adoption within 5 years. For example, Gartner‘s 2022 report highlights areas like composable business apps, AI engineering, and the metaverse as having future explosive growth.

Media publications like TechCrunch, Forbes, and The Information also frequently cover nascent startups and trends, signaling where fresh opportunities are emerging.

In essence, discovering which technologies are just gaining traction provides clues on where private market leaders are poised to ride tremendous waves upward.

Analyzing Startup Funding Data

Private tech companies fueling rapid growth require significant venture capital investment. Tracking startup funding patterns can reveal who is amassing war chests.

According to CB Insights, some of the largest VC-backed tech rounds in 2022 so far include:

• Prefect ($220M) – Dataflow automation
• Mosaic ($300M) – AI recruiting
• OCX Cognition ($200M) – AI data management
• Dataiku ($400M) – Enterprise AI and machine learning

These outsized funding amounts indicate VCs see massive potential in these firms’ trajectories. Where major investments concentrate among categories and companies offers data-driven perspective on rising stars.

Surveys of Industry Experts

Specialists like private market analysts and tech consultants often have an informed perspective on startups gaining steam.

For example, a SignalFire report combining feedback from experts highlighted synthetic data, VR collaboration, and liquid workforce platforms as breakout concepts. And CB Insights surveys VC opinions annually to predict upcoming trends and startup success factors.

Leveraging these expert perspectives provides grounded qualitative context on where smart money is flowing behind the scenes.

Crowdsourced Data From Users

While not offering financial transparency, user review platforms like G2 and Capterra incorporate firsthand customer feedback on thousands of private tech solutions. SaaS directories also collate self-reported traction data volunteered by the companies themselves.

Positive user experiences and expanding adoption numbers can confirm product quality and growth momentum for private firms. However, voluntary reviews and disclosures have limitations in their selectivity and potential bias.

Private Company Financial Projections

Some specialized firms like PrivCo, Pitchbook, and Owler estimate private company revenues by compiling models using funding data, employee counts, web traffic, job postings, and other available information.

These financial approximations provide directional perspective on revenue scale and expansion. According to PrivCo projections, for example, UiPath recently reached $800M+ in ARR, signaling the hypergrowth of RPA. However, these remain estimates rather than actual reported figures.

AIMultiple‘s Holistic Momentum Scoring

Here at AIMultiple, our mission is to uncover the most promising B2B technologies and private market leaders. Our data scientists track thousands of tech companies and solutions across areas like AI, machine learning, RPA, cloud computing, and more.

Leveraging all available public information and private data shared with us, we calculate a unique momentum score reflecting past, current and projected future growth.

Our model analyzes signals across four key dimensions:

• Market Presence: Approximated using web traffic, employees, offices, funding, estimated revenue, etc.
• Customer Satisfaction: Incorporates all available user ratings, reviews, testimonials and sentiment.
• Popularity: Measured through media mentions, search volume, social media buzz and visibility.
• Maturity: Funding stage, leadership bench, website activity all provide perspective on trajectory.

The output is a data-driven 360-degree view of company growth potential calibrated to real-world results. Our methodology was developed by veteran data scientists leveraging best practices in predictive analytics.

We believe this holistic approach provides unique perspective for anyone evaluating investments, seeking acquisition targets, or identifying vendors. You can browse our catalog of over 5,000 tech companies and leverage our momentum scoring to find leading growth opportunities.

Top Growth Opportunity Areas to Watch

Now let’s dive deeper on some of today’s highest potential B2B tech sectors and companies according to our models:

Artificial Intelligence

• Companies to Watch: H20.ai, DataRobot, Labelbox, Scale AI, Cohere
• Key Fact: Global AI software revenue is projected to grow 20% YoY to reach $62B by 2023 (IDC)

AI adoption is surging across enterprises to drive efficiencies, uncover insights from data, boost customer engagement and more. Our scoring identifies pioneers in machine learning, NLP and computer vision as having tremendous momentum.

Digital Health

• Companies to Watch: Teladoc, Livongo, Omada Health, Doctor on Demand, Ro
• Key Fact: 75% of healthcare organizations plan to invest in telemedicine platforms (Spyglass Consulting)

Virtual care, wearables, mHealth apps and personalized medicine are transforming healthcare by making it more proactive, accessible and digitally-powered. Numerous startups like those above are disrupting traditional healthcare with breakneck growth.

Cybersecurity

• Companies to Watch: SentinelOne, Tanium, Snyk, JupiterOne, Arctic Wolf
• Key Fact: Cybersecurity market projected to expand 12% per year to reach $376B by 2028 (Fortune Business Insights)

As threats like ransomware and data breaches proliferate, enterprises are aggressively adopting next-gen security technologies. Cloud-native platforms, AI-driven solutions and managed services are seeing particularly high demand tailwinds and growth.

Fintech

• Companies to Watch: Stripe, Plaid, Chime, Brex, Ramp
• Key Fact: Global fintech market value could reach $305B by 2025, expanding at 24% CAGR (ResearchandMarkets.com)

By innovating with blockchain, embedded finance, digital banking and more, fintech disruptors are transforming how businesses send payments, access capital, manage spend and more. Many are expanding globally at breakneck speeds.

Low-Code/No Code

• Companies to Watch: Airtable, Appian, Retool, Bubble, Creatio
• Key Fact: Low-code development tech market projected to grow 22% YoY to reach $187B by 2030 (Forrester)

Empowering businesses to build custom apps and automate workflows without coding unlocks game-changing agility, productivity, and digital transformation. VC funding and adoption have exploded for leaders in this space.

Find Your Next High-Growth Opportunity

Growth potential indicates the health and future trajectory of any business. For anyone investing in, acquiring, or purchasing from tech companies, identifying fast growth is the holy grail.

While private market data carries limitations, various signals from emerging technologies, funding flows and crowdsourced insights can pinpoint winners. Powerful predictive models like AIMultiple‘s momentum scoring also unlock unique visibility.

By leveraging the most comprehensive data and discipline-specific expertise, you can discover the next generation of B2B tech disruptors before they reach their full impact and potential. The future of transformative technologies and high-growth opportunities starts here.