You can now put your company forward for Accel’s 2022 Euroscape, the list of the top 100 SaaS companies across Europe and Israel. All information submitted is confidential and applications close on 16 September 2022. If you want the chance to increase your company’s visibility across the ecosystem, APPLY NOW!
The world of SaaS has reset: $1.4 trillion of public market cap has been washed out in the past few months, wiping out most of the gains of the past couple of years, and only six cloud companies are now worth more than $100 billion. On the private side, things have also slowed down, with $20 billion raised in Q2 by European and US cloud companies vs. a peak of $32 billion in Q3 2021. We’re certainly in a different environment now to where we were when we unveiled Accel’s 2021 Euroscape report.
That said, the flow of new unicorns has continued, albeit at a slower pace: Europe and Israel have added 25+ cloud unicorns this year with nearly half of them coming from smaller hubs outside of UK, Germany, France, and Israel, showing that the ecosystem has matured broadly across the region.
After the hype of the past two years, the natural question that springs to mind is: what’s next? Will companies be able to continue to grow into their valuations in future financings or will we see more down round and structured financings? Will the median $350 million raised by cloud unicorns, be enough to carry them through to IPO? Will cloud innovation accelerate or slow down in this new environment? We’ll dive into these questions and many more when we take to the stage in Dublin to present the 2022 Accel Euroscape at SaaStock in October.
There’s no denying that the headlines over the past few months have been far from positive from an economic standpoint. However, if we look back in time, challenging macroeconomic environments have typically been very fertile ground for innovation and disruptive start-ups. On the cloud front specifically, the secular trends remain strong:
- Only around 40% of software workloads have moved to the cloud, so there’s still a long way to go. Most big banks are just starting their migration.
- The need for security solutions is as strong as it has ever been, driven by increasing criminal and state-sponsored hacking activity and the shift of workloads to the cloud which require a new set of security tools. In addition, there’s the increase in remote working and the growing amount of sensitive/PII data across all businesses.
- The digital transformation isn’t slowing down and will accelerate as companies look to prioritise automation in order to compress costs
- Cryptocurrencies aren’t going away and will likely continue to be adopted by large financial institutions and payment companies
We’re optimistic about how the next chapter of the cloud ecosystem in Europe and Israel will play out, and if you think your company has what it takes to feature in our 2022 Accel Euroscape, APPLY NOW!
Submissions must be received by 6 pm BST on 16 September 2022. If your submission is successful, your company will be featured in the Euroscape Top 100 list and associated content.
Similar to previous editions, the Euroscape ranking will be based on strategic and competitive positioning, growth rate and customer feedback via our partnership with G2.
We’ll unveil the 2022 Accel Euroscape on 17-19 October 2022 at SaaStock. See you in Dublin!