Could ConnexOne, Dashlane, Homa Games, StuDocu, Typeform and Streetbees be the next tech unicorns?
In their Titans of Tech report, GP Bullhound have identified the 50 startups it believes could reach a $1bn valuation in the next two years.
GP Bullhound have an impressive record of identifying the next unicorn with 80% of their 2020 top ten reaching $1bn status.
The tech investment bank analysed more than 100 European startups for scale, velocity and sentiment, and ranked the top 50 companies with the most potential to become billon dollar companies in the next two years.
From the top 50 contenders, GP Bullhound have chosen the top 10 it believes have the potential to become billion dollar companies in the next two years.
The top 10 were identified as Form3, EcoVadis, Quantexa, Agicap, Onfido, Genesis, Lokalise, CoachHub, Soldo and LeanIX.
Other companies identified in the top 50 list include:
- Streetbees was founded by Tugce Bulut in 2015 to build the world’s first human intelligence platform, providing data about the lives of real people, in real time.
- Homa Games was founded by Daniel Nathan with a mission to become the world’s leading platform for creating and publishing mobile games.
- Dashlane was founded in Paris and first introduced its password manager to the consumer market in 2012. Headquartered in New York City, Dashline has over 15m consumers and 20,000 businesses use Dashline products. JD Sherman is the CEO.
- StuDocu is an EdTech platform to empower students to excel in their studies. Marnix Broer is the CEO and co-founder of StuDocu, which is now used by 25 million students every month.
- Typeform was launched in 2012 and is a no-code SaaS platform that helps companies grow their business by engaging with their audience. Joaquim Lecha is the CEO of Typeform, which turns digital interactions into human connection.
- Connex One was founded in Manchester by brothers Nick Mealey and Richard Mealey to revolutionise legacy customer engagement technology. The company now employs more than 300 people across six global offices with ambitious growth plans.
According to GP Bullhound’s report, there are now 283 companies valued at over $1bn in Europe – a c.10x uptick vs 2014 – with 44% (125 companies) reaching unicorn status in the past year, fuelled by an acceleration in mega-rounds and IPOs.
The 2022 Titans of Tech report has revealed another record year for European tech, reaching a cumulative value creation of over $1tn, and giving birth to as many new Unicorns in one year as the last three combined.
There were 125 new unicorns created last year – more than the last three years combined.
Israel added the most new unicorns with 27 created in the last year, followed by the UK with 22.
Manish Madhvani, managing partner at GP Bullhound, said: “The European tech ecosystem continues to show its strength, demonstrated by the record value creation since last year. Now as inflation spikes to 40-year highs, Europe’s Unicorn party is slowing, and growth companies are likely to be hit hardest as investor focus is shifting from growth to profitability.
“However, activity persists, and history shows that founders that react quickly and decisively will be able to seize unique opportunities to reposition for the future landscape and continue building category leaders.”
To access the report, please click here.