On behalf of ServiceNow Chairman and CEO Bill McDermott, and our executive leadership team, I’m honored to share that ServiceNow has been named to the prestigious Fortune 500® list for the first time in company history, joining an elite group of the largest companies in the United States.
Since placement on this list is based on fiscal year revenues, ServiceNow’s inaugural appearance is evidence of our continued growth trajectory. In 2022, we achieved $6.89 billion in subscription revenues, an increase of $1.3 billion year-over-year. Furthermore, we are the fastest-growing enterprise software company to reach $7 billion in revenues organically.
The Fortune 500® recognition marks the beginning of a new era for ServiceNow. We’ve demonstrated our ability to generate a powerful combination of organic growth and profitability, at scale. This distinction is also a testament to our “win as a team” core value at ServiceNow. It’s the culmination of the outstanding results we passionately deliver together, in service to our customers, investors, and stakeholders.
The momentum continues
While the list continues to evolve, we’ll continue to evolve in service to our customers. What ServiceNow founder Fred Luddy started almost 20 years ago as software for simpler, easier, faster work has grown into the global intelligent platform for end-to-end digital transformation.
Because of Fred, we’re inspired to dream big. We help more than 7,700 customers focus on the work that matters. Approximately 85% of Fortune 500® companies use ServiceNow.
From 2018 to 2022, we grew at a compound annual growth rate (CAGR) of 31% in constant currency, a best-in-class trajectory among scale peers. In 2023, we reported our first $2 billion quarter, unveiled transformative innovations at our flagship event, Knowledge, announced a new partnership with NVIDIA, among others, and have been named a Fortune 500® company.
What does this recognition mean?
Since the business magazine first published the Fortune 500® nearly 70 years ago, the list has become highly regarded. It’s now a recognized metric to gauge a company’s success and influence.
For ServiceNow, this recognition confirms we’re fulfilling our purpose to make the world work better for everyone. It demonstrates the power of the Now Platform, our financial strength, and the trust and transparency we’ve built with customers, partners, investors, employees, board members, and shareholders.
Personally, I’d be remiss if I didn’t share how proud and grateful I am to work alongside the best people in the world, with the best customers and partners, at one of the Fortune 100 Best Companies to Work For®—yes, we made that list too.
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