You can now put your company forward for Accel’s 2023 Euroscape, the list of the top 100 SaaS companies across Europe and Israel. All information submitted is confidential and applications close on 6 October, 2023. If you want the chance to increase your company’s visibility across the ecosystem, Apply now!
When we unveiled the Accel 2022 Euroscape, the world had reset and neither the public nor private markets had been left unscathed. On the public side, $1.6 trillion of market capitalization had been lost in the global Euroscape Cloud Index, with the average forward revenue multiples plunging from 2021’s peak of 17x to 6x in 2022. On the private side, cloud funding in Europe, Israel, and the US had dramatically reset as well.
So, as we prepare to unveil Accel’s 2023 Euroscape at this year’s SaaStock, where are we today? This year has seen a return to reality. While the challenging macroeconomic environment continues and the decline of VC funding, drops in unicorn valuations, and focus on profitability remain in the headlines, we’re starting to see a new normal emerge. The COVID years have been digested:
- Global Euroscape multiples have reverted to the 10-year pre-covid average
- VC cloud financing levels have converged to those seen pre-covid
- Unicorn creation is now tracing pre-covid levels, with only nine created in H1 2023 across Europe, Israel and the US (a far cry from H1 2022’s 91)
However, we’re now in a very different place to 2019: the emergence of Generative AI has fundamentally changed the software paradigm. Software is now not only an automation and prediction tool, it has become a generative tool, which dramatically increases the tasks that can be performed by a computer.
From generating text and images to understanding documents and intelligent process automation, we’re entering a new era of innovation. It’s this innovation era that the Accel 2023 Euroscape: Generation AI will examine.
And this is not the only good news: it looks like the cloud IPO market is now reopening with Klaviyo hitting the NYSE last week.
As we take to the stage at SaaStock, we’ll also be discussing how the software giants have been navigating this new environment, what the rule of 40 looks like today, and — of course — unveiling our top 100 Cloud companies to watch in the future! If you think your company has what it takes to feature in our 2023 Accel Euroscape, Apply now!
Submissions close on 6 October, 2023. If your submission is successful, your company will feature 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.
See you in Dublin!
Lead image via Accel.