The European tech ecosystem has continued to evolve rapidly with software companies playing a central role in driving innovation across various industries. With €3.6 billion raised in the first three quarters of 2024, the software industry demonstrates its importance in this dynamic landscape. Companies increasingly focus on enhancing operational efficiency, leveraging emerging technologies like artificial intelligence, blockchain, and cloud computing, and addressing the growing demand for digital transformation services.
As we look towards 2025, the European software sector is poised for further growth. Companies are expected to increase investments in research and development to bring next-generation solutions to market, particularly in areas like cybersecurity, automation, and sustainable technology. The emphasis will likely shift towards creating more integrated, scalable, and user-friendly solutions, catering to an increasingly diverse client base that spans both large enterprises and smaller, fast-growing startups. As data privacy and sustainability regulations continue to tighten, software companies will need to remain agile, enhancing their compliance capabilities while staying competitive in an ever-crowded market.
Here are ten software companies that raised the most funds in the first three quarters of 2024, driving the growth and strengthening of the sector.
team.blue (Belgium)
team.blue is a dynamic ecosystem of over 60 established brands, united to empower customers with comprehensive online solutions.
The company combines traditional hosting services—including domain registration, email, shared hosting, e-commerce, and server hosting—with specialized SaaS offerings like compliance, marketing tools, and team collaboration products. This diverse portfolio makes team.blue a one-stop partner for businesses and entrepreneurs seeking to thrive online across Europe.
In July this year, the company secured €550M investment at €4.8B valuation.
Bending Spoons (Italy)
Bending Spoons is a technology company specializing in the development and publishing of mobile apps and software solutions.
Since its founding in 2013, the company has built a reputation for creating a diverse suite of apps that address needs in areas like fitness, photo and video editing, and productivity.
With a strong focus on innovation, user experience, and data-driven insights, Bending Spoons is dedicated to delivering high-quality digital products.
Earlier this year, the company raised $155 million in equity financing.
Osapiens (Germany)
Osapiens is a German-based technology company that supports global enterprises in achieving sustainability and future-readiness through comprehensive Software-as-a-Service solutions.
Founded in 2018, osapiens provides transparency and sustainable growth across the entire value chain, helping businesses meet ESG compliance requirements and streamline manual processes through its cloud-based platform, the "osapiens HUB," which integrates AI-driven solutions for efficient ESG reporting and compliance with regulations like CSRD, EUDR, and CSDDD.
The company has completed a $120 million Series B financing round which brings the company’s funding to over $145 million.
CloudPay (UK)
CloudPay delivers innovative, expert-led solutions for managing employee pay processes, and understanding their impact on business success.
As a provider offering a unified platform for global payroll, payments, and on-demand pay, CloudPay ensures a seamless, comprehensive pay experience that employees deserve.
Backed by a team of experts, CloudPay helps companies implement best practices, adapt to change, streamline operations, and elevate employee satisfaction.
This year, the company secured $120 million in funding, which will support enhancements to its products and technology.
Visit Group (Sweden)
Visit Group is a hospitality and travel software company which develops a specialized e-commerce, packaging, and distribution platform tailored for the tourism industry.
Their platform supports the entire tourism value chain, offering digital expertise to travel organizations and a technology solution uniquely suited to the needs of travel and tourism brands.
Earlier this year, the company secured €100 million to accelerate growth across the region through investments in both organic and inorganic expansion, enhancing the range and depth of solutions available to its customers.
Stonal (France)
Stonal is an artificial general intelligence for real estate platform for multi-class real estate asset owners and asset managers.
The company supports real estate professionals in making informed decisions by providing comprehensive, reliable data across all property dimensions—economic, technical, and financial.
In a complex market, Stonal enables effective management and strategic repositioning of assets, particularly in the evolving office sector.
This year, the company secured €100 million investment for real estate data management.
Storyblok (Austria)
Based in Austria, Storyblok pioneered the headless CMS concept by separating template logic from content, and has since expanded its features to serve a growing global customer base.
The company’s mission is to revolutionize content management for mid-market and enterprise businesses in EMEA and AMER, by introducing innovative features that streamline content workflows, enhance collaboration, and accelerate the content lifecycle.
In June 2024, the company raised $80 million in Series C funding, which will accelerate its growth in the US and Europe and support its goal of building the first end-to-end content platform.
Zama (France)
Zama is an open-source cryptography company specializing in Fully Homomorphic Encryption (FHE) solutions for blockchain and AI, aiming to make privacy seamless and secure by ensuring end-to-end encryption for all applications.
As data breaches, surveillance of cloud applications, and public blockchain smart contracts continue to raise privacy concerns, maintaining privacy online is becoming more challenging.
Zama's mission is to make privacy effortless by ensuring end-to-end encryption for all applications, using homomorphic encryption to address the growing challenges of data breaches, surveillance, and public blockchain smart contracts.
In March, the company secured $73 million which will be used to hire skilled engineers, software developers, and cryptography researchers to maintain its open-source libraries and work with strategic partners to advance a new class of Fully Homomorphic Encryption (FHE).
Hyperexponential (UK)
Hyperexponential is revolutionizing the insurance industry through decision intelligence.
By addressing challenges like disconnected systems, outdated processes, and chaotic data, the company empower insurers to make smarter, faster decisions. Combining deep actuarial expertise with cutting-edge engineering, Hyperexponential’s solutions enable teams to work more agilely, collaborate more effectively, and access a broader range of tools.
A progressive approach, seamless integration, and ongoing support ensure that the company’s software delivers immediate results and evolves to meet future needs.
At the beginning of the year, the company closed a $73 million Series B funding round which will be used to support the company’s US market entry.
OneStock (France)
OneStock offers a Distributed Order Management solution that revolutionizes how businesses orchestrate and fulfill orders to enhance customer satisfaction.
The platform provides centralized, real-time visibility and control over inventory across all stock locations, optimizing order allocation and fulfilment through advanced algorithms. This enables businesses to meet customer demand efficiently while minimizing costs and supporting omnichannel capabilities such as Ship from Store, Click and Collect, and Returns Management.
Built on MACH architecture, OneStock’s scalable and flexible solution ensures rapid deployment, easy integration, and a future-proof, best-in-class customer experience.
The company secured a $72 million investment which will fuel OneStock’s continued international expansion, particularly into the US market.
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