170215 tech tourgrowth502017

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170215 tech tourgrowth502017

  1. 1. Supported by: www.techtourgrowth50.com Tech Tour Growth 50 2017 1
  2. 2. Contents Overview The Tech Tour Growth 50 Companies 2017 The 2017 Selection Committee Europe is a breeding ground for repeat success Key Figures Breakdown by Sectors and Investors Criteria 6 4-5 7-9 3 10-12 13-17 18-19 www.techtourgrowth50.com The Tech Tour Growth Forum 20-21 2
  3. 3. Overview Welcome to the Tech Tour Growth 50 – Europe’s most promising growth equity backed companies with the very best potential to become $1 billion dollar + companies: those “born to be unicorns”. For the third year in succession, Tech Tour together with Silverpeak and in conjunction with a selection committee of international investors have researched and evaluated over 280 European private tech companies at a sub-one billion US dollar valuation. The purpose of the Tech Tour Growth 50 is not to give a ranking, or construct an index, but to shine the brightest of lights on the companies yet to achieve “Unicorn” unicorn status as a demonstration of the strength and depth in Europe. The composition of the TTG50 has changed significantly from 2015 where almost 50% of the companies were defined as ‘B2C eCommerce’. This year that broad category only applies to just over 30% of the companies, with only 15% in what we can now view as traditional online retail. We see major success stories emerging in B2B software and services, particularly in Fintech and the Internet of Things. At Tech Tour we have long been convinced of the strength of the European eco-system for hi-tech growth companies. This conviction is born out in the European tech entrepreneur dynasties that are now emerging where the capital and expertise created by realised unicorn successes such as Skype, Zoopla and Autonomy is supporting many of the future unicorns we see in this year’s Tech Tour Growth 50. We are proud to play our own part in Europe’s success – with many of Europe’s current Unicorns, and of course this year’s Growth 50 companies having had their capital raises supported by meeting investors via our events and platform. We would like to thank all the members of this year’s selection committee and hope you enjoy reading about this year’s Tech Tour Growth 50. www.techtourgrowth50.com Jean-Michel Deligny Managing Director Silverpeak LLP Selection Committee Chair Tech Tour Growth 50 William Stevens CEO Tech Tour 3
  4. 4. The 2017 Tech Tour Growth 50 Companies 4www.techtourgrowth50.com
  5. 5. The 2017 Tech Tour Growth 50 Actility Catawiki E-Leather Nfon Soundcloud Acturis Carto Feedzai Nutmeg Talkdesk Alfresco Cedexis Fenergo Outfittery Telensa Algomi Crocus GetYourGuide Ppro Truecaller AlienVault Currency Cloud Huddle Prezi Trustpilot Amplitude Darktrace Improbable Scality Uniplaces B2x Deliveroo Kreditech Scytl Vivino Babbel Devialet LendInvest Secret Escapes Wallapop Blippar Drayson Technologies NewVoiceMedia Sigfox WeTransfer Calastone eGym NexThink Sophia Genetics WorldRemit 5www.techtourgrowth50.com Companies shaded in blue enter the Tech Tour Growth 50 for the first time
  6. 6. The 2017 Selection Committee* #6* For continuity, 50% of the Committee Members were on the 2016 Committee 2016 Selection Committee Venture & Growth Equity Investors Corporates, Research & Global Organisations Bankers & Advisors Jean-Michel Deligny Managing Director Silverpeak LLP Vice-President Selection Committee Tech Tour Growth Forum 2016 6www.techtourgrowth50.com
  7. 7. The European Eco-System is Deepening – Success Breeds Success Realised Unicorn Capital and Expertise Backing TTG50 Companies Janus Fritz Taavet Hinrikus Alex Chesterman Mike Lynch Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase 7www.techtourgrowth50.com
  8. 8. The European Eco-System is Deepening – Success Breeds Success European Entrepreneurs Turn Super Angels Backing TTG50 Companies Jacques Antoine Granjon Vente Prive Charles Dunstone Carphone Warehouse Xaviel Niel Iliad/Free Murray Salmon Net-a-Porter Niklas Adalberth Klarna William Reeve Love Film Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase 8www.techtourgrowth50.com
  9. 9. The European Eco-System is Deepening – Success Breeds Success European VCs Repeatedly Back Multiple TTG50 Companies* 7 (2) 8 (8) 7 (8) 4 (5) 4 (4) 4 (2) 4 (4) 4 (8) 3 (8) 3 (4) 3 (3) 3 (4) 3 (2) 3 (0) 3 (2)  16 VCs back three or more companies  Foxconn Technology is the only non-European backing three or more * Figures in parenthesis () show the number of companies invested in 2016 Growth 50 Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase 9www.techtourgrowth50.com
  10. 10. The Tech Tour Growth 50 Key Figures: Growth & Financing*  38 of the TTG50 companies were founded in the last 10 years (45)  The median year of company foundation is 2008 (2008) with the most recent in 2013  The average time from company foundation to first funding round is 2 years and 8 months (1 year and 10 months)  The average time from first funding round to most recent funding round is 4 years and 4 months (4 years 2) months  The mean number of funding rounds is 4 (4) Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase * Figures in parenthesis () are for Tech Tour Growth 50 2016 10www.techtourgrowth50.com
  11. 11. The Tech Tour Growth 50 Key Figures: Growth & Investors*  The average number of active investors per company is 7.5 (5). There are 309 (227) investors in total  52% of the 50 companies have at least one US investor (66%)  48% of the companies have at least one individual as investor (42%) – these are typically serial entrepreneurs and partners in venture capital firms acting as “angel” investors – all these individual investors are currently still invested  The average first funding round size is $5.7 million ($7.5 million)  The average latest funding round size is $65.7 million ($38.5 million)  The average valuation is $338 million ($280 million) Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase * Figures in parenthesis are for Tech Tour 2016 Growth 50 11www.techtourgrowth50.com
  12. 12. The Tech Tour Growth 50 Key Figures: Impact  Companies have raised an estimated $3.7 billion of venture fundnig  They have an estimated valuation of $338 million ($284 million)  The TTG50 Companies have created over 9, 000 jobs (8, 000)  2 out of 3 companies (32/50) are Tech Tour “alumni” having presented at past Tech Tour events to investors Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase 12www.techtourgrowth50.com
  13. 13. The Tech Tour Growth 50: Industry Vertical  Approximately 15% of companies are retail eCommerce businesses (30% in 2016, 50% in 2015)  As the internet evolves and industrializes we see B2B enabling technologies in Fintech, Internet of Things and Security becoming increasingly prominent – approximately 40% of companies are providing the backbone for widespread change in industries as diverse as Energy, Insurance, Fixed Income trading, Agriculture and Asset Management. Source: Tech Tour 13www.techtourgrowth50.com 22% 18% 14% 14% 10% 10% 60% 20% 20% 20% Breakdown by Industry Vertical SaaS Fintech Internet of Things E-Commerce Hardware Software Big Data Biotech Edtech IT Services 11 9 7 7 5 5 3 1 1 1 0 2 4 6 8 10 12 Breakdown by Industry Vertical
  14. 14. The Tech Tour Growth 50: B2B Break Down  Removing the B2C companies, software and services only accounts for 30%  This reflects the continued increase in Big Data, Internet of Things and Security companies: areas where Europe has an increasing competitive advantage 14www.techtourgrowth50.com Source: Tech Tour 0 1 2 3 4 5 6 7 8 Internet of Things Fintech SaaS Software Hardware Biotech IT Services B2B Breakdown by Industry Vertical 23% 20% 20% 13% 10% 7% 3% 3% B2B Breakdown by Industry Verticle Internet of Things Fintech SaaS Software Big Data Hardware Biotech IT Services
  15. 15. The Tech Tour Growth 50: B2C Break Down  Only 32% of companies are eCommerce (50% in 2017) with online retail companies continuing to diminish as Hardware and service companies/apps become increasingly prominent in the B2C space  For the first time we see two hardware companies that sell direct to consumers (Devialet and eGym ) making the list  B2C Fin Tech role is reduced as the currency transfer and peer to peer lending markets mature 15www.techtourgrowth50.com Source: Tech Tour 7 5 3 3 1 1 0 1 2 3 4 5 6 7 8 E-Commerce SaaS Fintech Hardware Edtech Software B2C Breakdown by Industry Vertical 37% 26% 16% 16% 5% 5% B2C Breakdown by Industry Vertical E-Commerce SaaS Fintech Hardware Edtech Software
  16. 16. The Tech Tour Growth 50 Investor Break Down  The investor breakdown by Geography and Classification remains similar to 2016. As per 2016 50% of investors are financial venture capital fund managers and 20% are individuals. We are yet to see an uptick in asset managers/private equity firms entering the TTG50, although this may come in later funding rounds  As per 2016 US investors account for 30% with 52% of companies having at least one US investor (66% in 2016)  Total of 309 investors (277 in 2016) Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase 67% 28% 4% 1% Investors by Geography Europe USA Asia Latin America 0% 10% 20% 30% 40% 50% 60% Venture Capital Individual Private Equity/Asset Manager Corporation Corporate VC Bank State VC Investors by Type 16www.techtourgrowth50.com
  17. 17. The Tech Tour Growth 50 Investor Break Down: Companies  As per 2015/16 the Investor Base is Diverse  Only 16 Investors are invested in three or more companies (15 in 2016, 19 in 2015)  Only 8 Investors back four or more companies (9 in 2016, 9 in 2015)  BPI France’s uptick reflects the increase in French companies in – 7 in 2017 – 4 in 2016 Investors in 4 or more TTG50 Companies (*)  Accel Partners: 8 (8)  BPI France: 7 (2)  Highland Capital Partners Europe: 5 (2)  Sapphire Ventures: 4 (5)  Idinvest Partners: 4 (4)  Kreos Capital: 4 (8)  Octopus Investments: 4 (2)  Index Ventures: 4 (4) Source: Tech Tour, Go4Venture, Silverpeak, Pitch Book, CrunchBase * Figures in parenthesis show the number of companies invested in 2016 Growth 50 263 29 8 5 3 Investors by number of companies Invested 1 2 3 4 5 or more 17www.techtourgrowth50.com
  18. 18. Why compile a Growth 50?  $1 billion “unicorns” are just the tip of the iceberg. They are well known and already frequently cited in the press and many investors have already exited these businesses.  TT Growth 50 lists the top 50 investor backed high-growth companies over a rolling three year period.  The TT Growth 50 demonstrates the depth and breadth of European high-growth businesses  The list concentrates on value, not just valuation, growth metrics such as revenue growth were combined with insight from the selection committee  We aim to shine a light on the value being created by European entrepreneurs still to be fully realised . TT Growth 50 Universe 18www.techtourgrowth50.com
  19. 19. How is the Tech Tour Growth 50 list generated?  The Tech Tour identified a long list of 281 companies, backed by at least one independent investor, that potentially met minimal valuation and growth criteria (see box on left)  The selection committee then supplemented the list adding additional companies based on their own market insight qualitative criteria below  These companies were then contacted by the Tech Tour and asked to qualify they met three of the four financial criteria. Companies were requested to supply supplementary information based on:  Achievement: Capital efficiency, Growth in last 3 years, Business Plan execution, Market penetration, Barrier to competition / IP  Impact: Addressable market, Scalability / International expansion, Disruptive business model / value proposition  Momentum: Projected growth, Financial backing / future requirements, commercial partnerships, Management  Each selection committee member was then independently asked to generate their own Tech Tour Growth 50 list (i.e. they had fifty votes each) based on the supplementary criteria  Companies that confirmed they met the financial criteria and/or had received 7 or more votes were then automatically included in the list. This gave 41 companies.  The selection committee then convened to discuss the remaining companies allocating the final 9 places  The top 50 companies compose the Tech Tour Growth 50. As no method is perfect we have not ranked the Tech Tour Growth 50 Companies were assessed to meet at least three of the four criteria below:  sales annual growth > 50% (CAGR from Dec 31st 2012 to Dec 31st 2015)  >$100 million valuation  financing raised > $20 million  Annual revenue > $10 million and valuation <$1billion 19www.techtourgrowth50.com
  20. 20. 20 An exclusive gathering of Europe’s boldest hyper growth company CEOs…… Geneva and Lausanne, March 30-31st, 2017 George Coelho Chairman Octo-Telematics Co-President Eric Archambeau General Partner Wellington Partners Co-President 2017 Growth Forum Presidents Silver Partner Global Partners Gold PartnerHost Partner Bronze Partner Every year on the shores of Lake Geneva the Tech Tour Growth Forum brings together Europe’s boldest CEOs. Day one has a series of CEO only workshops - facilitated by McKinsey’s fast-growth company team- followed by an exclusive visit to CERN and an evening of fine dining with the presentation of the Tech Tour Growth Awards. Day two brings investors and CEOS together, blending stimulating keynotes, panels and fireside chats with breakout sessions exploring the global mega trends in disruptive technology and key components for both investors and CEOs at building tech companies to scale. For the full programme and to register: www.techtour.com
  21. 21. 21 What some of the CEOs say about the Forum:
  22. 22. About Us Silverpeak Silverpeak is an independent investment bank providing advice on M&A and financing transactions in the technology sector. We serve the advisory needs of businesses operating in the technology sector, financial sponsors and corporates seeking to grow their business via investment or acquisitions, or manage their activity portfolio through spin-offs or divestitures. www.silverpeakib.com Tech Tour Founded in 1998, Tech Tour provides a Community facilitating investment into world class entrepreneurs with event and online matching platforms between growing and emerging innovative companies and investors across borders, regions, sectors and stages. Tech Tour is also the trade name for Europe Unlimited. www.techtour.com (see also www.e-unlimited.com) International Venture Club The International Venture Club is a collaborative platform of over 70 leading independent venture capital, corporate and institutional investors promoting successful international investments. The Club objectives are to share better practices, build co-investor trust and relations, foster new funding and investment opportunities through joint actions and grow portfolio companies with corporate partners and co-investors. The International Venture Club is managed by Tech Tour. www.iventureclub.com 22www.techtourgrowth50.com
  23. 23. www.techtour.com Contacts William Stevens, Managing Director +32 26 44 65 80, wstevens@techtour.com Mashrukh Talukder, Sales & Partnerships +46 736 51 70 73, mashrukh@techtour.com Simone Theiss, Managing Director +41 22 518 4722, simone@techtour.com James Burnham, Senior Advisor +44 788 776 53 04, james@techtour.com Geneva Office Avenue Sécheron 15 1202, Geneva, Switzerland Tel: +41 22 518 4722 23

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