This document discusses the rise of industry cloud solutions. It notes that enterprise software is moving to the cloud, and that vertical, industry-specific cloud solutions (industry cloud) represent the next major opportunity. Industry cloud solutions offer integrated, true insights because they allow for true, multi-tenant software across multiple platforms with little customization required. The document outlines five hallmarks of successful industry cloud companies and provides examples of Emergence Capital's industry cloud investments to date across various sectors such as healthcare, education, and energy.