Mar 26, 2025

SAN FRANCISCO — The seventh annual Enterprise Tech 30 —identifying the most promising private companies across the enterprise technology spectrum—was unveiled by Wing Venture Capital  in partnership with Eric Newcomer of  Newcomer Media . Wing, an early-stage investor and long-term company builder in B2B technology, continues its tradition of curating this definitive industry list spanning enterprise companies at all stages of maturity. This list and accompanying research are the product of a two-phase process to distill a stack-ranked list of the top venture-backed enterprise tech companies and uncover key insights and trends driving the market. Of the 15,000+ venture-backed enterprise tech companies in consideration, 60 companies have been selected as the enterprise tech leaders, segmented by “stage” as determined by an institutional research process. This year, 103 venture capitalists across 86 firms participated in the ET30 list selection process. The group ranged from solo capitalists and seed-stage firms to buyout funds and hedge funds with venture capital practices. The assets under management (AUMs) for the 86 firms ranged from $50 million to $1 trillion. Below is the Enterprise Tech 30 for 2025, categorized into four stages by total capital raised: Early Cohesity “The theme for 2025 is the emergence of AI-native applications,” said Peter Wagner, founding partner at Wing Venture Capital and creator of the ET30. “The last two years saw the rise of AI models, tools and infrastructure. With those enablers now firmly established, the time has come for agentic applications. Such companies are well represented in this year’s ET30, especially in the early stage category.” The research process for uncovering the Enterprise Tech 30 also uncovered insights about the state of enterprise tech, including: 35% of ET30 2025 companies are in Horizontal/Vertical Applications, up from 25% in 2023 and 2024, with over half of these being AI-native. 53% of companies (32 of 60) are returning to the ET30, with four companies (Airtable, Canva, Databricks, Stripe) appearing for all seven consecutive years. 50% of all ET30 companies are AI-native this year, representing a dramatic increase from 0% in 2019. Several companies show impressive mobility between stages, with 3 Giga Top 10 companies (Rippling, Scale, Wiz) graduating from late in 2024 to Giga in 2025. The median time since last financing round was less than one year for all stages, with late stage companies at just 0.6 years (down from 2.0 years in 2024), representing a potential shift to quality among venture capitalists. Many companies have launched or announced agentic components in their products, signaling what Wing calls “ The Rise of the Agentic Workforce ” across the Enterprise Tech 30.