Europe s fastest growing highimpact

The Tech Tour Growth 50

Europe’s fastest growing

high-impact private companies

Contents

TT Growth 50 Companies

3-4

Key Figures

5-6

Why the Tech Tour Growth 50

7

Sector & Country Analysis

8-11

Investor Analysis

12-14

The Tech Tour Growth 50 2015

Accedo Borro Lamoda.ru Quandoo Tobii Technology

Adyen Calastone MedicAnimal Scytl Tradeshift

Alfresco Deezer Mimecast Shazam Transferwise

AlienVault Order Dynamics Mister Spex Showroomprive Truecaller Amplitude Laser

Technology Farfetch Powa Technologies Skyscanner Westwing

Avantium FoodPanda Nutmeg Smaato Windeln

Avito B2x Care Solutions OnefineStay Soundcloud WiThings

Blabla car ivi.ru Media Oodrive Spotify Wonga

Blippar Klarna Openet Swiftkey WorldRemit

The Tech Tour Growth 50 Key Figures: Impact



Since 1998 TTG50 Companies have raised over $5 Billion



Since 1998 TTG50 Companies have created over 15, 000 Jobs



75% OF TTG50 companies were founded in 2005 or later and in the last decade have

created over 14, 500 jobs



28 companies are Tech Tour “alumni” and have presented at past Tech Tour events to

investors

The Tech Tour Growth 50 Key Figures: Growth & Investors



75% of the TTG50 companies were founded in the last 10 years.



The median year of company foundation is 2007



The average time from company foundation to first funding round is 3 years 6 months



The average time from first funding round to most recent funding round is 3 years 11

months



The mean amount of funding rounds is 4



The mean number of total investors per company is 5. There are 223 investors in total.



47 of the 50 companies have at least one US investor

Why compile the Tech Tour Growth 50?

 $1 billion “unicorns” are just the tip of the iceberg. They are well known and already frequently cited in the press.

 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 companies demonstrate the depth and breadth of investor backed European high-growth businesses

 The list concentrates on value, not just valuation, growth metrics such as year on year revenue growth were combined with valuation data.

 We want to shine a light on the value being created by European entrepreneurs and venture capital firms that is still to be fully realised

.

TT Growth 50

Universe

The Tech Tour Growth 50 Country Break Down*

Source: Tech Tour *Where companies have now moved their HQ outside Europe the country of initial incorporation is detailed. 2% 14% 14% 2% 4% 10% 4% 12% 38%

Country Break Down

Denmark France Germany Ireland Netherlands Russia Spain Sweden United Kingdom 0 2 4 6 8 10 12 14 16 18 20

The Tech Tour Growth 50 Sector Break Down

Software & IT Services

Digital Healthcare

Communications & Network Systems

Other Clean Technology, Environment or Energy 0 5 10 15 20 25 30 TTG50 Companies by Sector

 Almost 50% of companies defined as B2C eCommerce

 Business Applications & Software and Services account for 30%

 Across both Business and Consumer applications Fin Tech accounts fore 20%

The Tech Tour Growth 50 B2C Break Down

 Almost 50% of companies defined as Retail but very broad in geography and offering

 Retail ranges from online opticians to fashion to pet food and care

 Fin Tech also very broad from payday lenders, to money transfer for expats to asset backed lending 46% 17% 8% 8% 8% 8% 4%

B2C eCommerce Sector Break Down

Retail Financial Tech Advertising & Search Food and Beverage Games & Entertainment Music

Internet Applications & Portals

0 2 4 6 8 10 12

B2C eCommerce Sector Break Down

The Tech Tour Growth 50 B2B Break Down

 Fin Tech is the major sector with companies providing payment services systems to

enterprise and eCommerce platforms plus enabling technology to mutual fund managers

23%

39% 23%

15%

Bussiness Applications and Software Services Break Down

Cloud & Big data Financial Tech IT Services

Security & Cyber Security

0 1 2 3 4 5 6

Security & Cyber Security

Cloud & Big data IT Services Financial Tech

Business Applicatons and Software Service Break Down

The Tech Tour Growth 50 Investor Break Down: Investor Type

 Almost ¾ of investors are financial venture capital fund managers

 Investments by corporations is significantly larger than corporate venture capital vehicles

 Total of 223 Investors 2% 4% 3% 10% 72% 2%3% 3%1% Investor by Type Angel Asset Manager Corporate Venture Corporation Financial Venture Institutional Investor Private Equity Public Sector Investor University 0 20 40 60 80 100 120 140 160 180 Investor by Type

The Tech Tour Growth 50 Investor Break Down: Geography

 US based investors account for over one third of investor by number

 A US based investor is invested in 47 of the TTG50

5%

58% 36%

1%

Investors by Geographical Location

Asia Europe US Africa 0 20 40 60 80 100 120 140

Europe US Asia Africa

Investors by Geographical Location

The Tech Tour Growth 50 Investor Break Down: Companies

 The Investor Base is Diverse

 Only 19 Investors are invested in three or more companies

 Only 9 Investors in four or more companies

The figure in parenthesis represents the number of TTG50 Companies

83% 8%

6% 1% 1%

Number of Companies by Investor

One Two Three to Four Five to Nine Ten or more

Investors in 4 or more TTG50

Companies*

Accel Partners (11)

Index Ventures (7)

Balderton Capital Management LLP (5)

HV Holtzbrinck Ventures Adviser GmbH

(5)

Kleiner Perkins Caufield & Byers (5)

Access Industries (4)

Intel Capital (4)

Investment AB Kinnevik (4)

Octopus Ventures Ltd. (4)

How was the Tech Tour Growth 50 list generated?

 The Tech Tour identified a long list of 366 companies, backed by at least one independent investor, that potentially met certain valuation and growth criteria (see box on right)

 These were screened by Dow Jones VentureSource and Go4Venture. Companies that definitely did not meet the criteria were removed.

 A list of 144 companies was generated. These companies and/or their investors were contacted to verify the criteria

 Companies were also asked to voluntarily supply additional supporting information on a confidential basis.

 The results gave a list of 93 companies. Companies were allocated a grade depending on the criteria they met and the additional information supplied. Growth information was prioritised in the grading. .

 Aselection committee then voted for their individual “Top 50”

 The companies were then ranked by votes and grade

 The top 50 companies compose the Tech Tour Growth 50. As no method is perfect we have not ranked the Tech Tour Growth 50

What were the criteria for inclusion in the initial list?

Companies were estimated to have achieved three of the four criteria below:



50% sales growth (CAGR from Dec

31sr 2011 to Dec 31

2014)



$100 million valuation



Raised more than $20 million



Annual revenue greater than $10

million.

The Selection Committee

#16

Venture & Growth Equity Investors

Corporates, Research & Global Organisations

What are the next steps?



For more information on the Tech Tour Growth 50 and the companies please visit

www.techtourgrowth50.com



The Tech Tour will compile this list every year and launch at the annual Tech Tour

Growth Forum. To get involved please contact William Stevens: