The Tech Tour Growth 50
Europe’s fastest growing highimpact private companies
in conjunction with:
Contents
TT Growth 50 Companies
3-4
Key Figures
5-6
Why the Tech Tour Growth 50
Sector & Country Analysis
7
8-11
Investor Analysis
12-14
Criteria, Process and Selection Committee
15-16
The Tech Tour Growth 50 2015 Companies
The Tech Tour Growth 50 2015
Accedo
Borro
Lamoda.ru
Quandoo
Tobii Technology
Adyen
Calastone
MedicAnimal
Scytl
Tradeshift
Alfresco
Deezer
Mimecast
Shazam
Transferwise
AlienVault
Amplitude Laser
Technology
Order Dynamics
Mister Spex
Showroomprive
Truecaller
Farfetch
Powa Technologies
Skyscanner
Westwing
Avantium
FoodPanda
B2x Care Solutions
Nutmeg
Smaato
Windeln
OnefineStay
Soundcloud
WiThings
Blabla car
ivi.ru Media
Oodrive
Spotify
Wonga
Blippar
Klarna
Openet
Swiftkey
WorldRemit
Blockchain
KupiVIP
Ozon
Talend
Zound Industries
Avito
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
Source: Tech Tour, Go4Venture, Dow Jones Venture Source, CrunchBase
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
Source: Tech Tour, Go4Venture, Dow Jones Venture Source, CrunchBase
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
Universe
 TT Growth 50 lists the top 50 investor backed highgrowth 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
.
The Tech Tour Growth 50 Country Break Down*
Country Break Down
Country Break Down
20
2%
18
14%
16
38%
Denmark
14
France
12
Germany
14%
Ireland
Netherlands
2%
4%
10
8
Russia
6
Spain
4
Sweden
United Kingdom
2
0
10%
12%
4%
Source: Tech Tour *Where companies have now moved their HQ outside Europe the country of initial
incorporation is detailed.
The Tech Tour Growth 50 Sector Break Down
TTG50 Companies by Sector
TTG50 Companies by Sector
30
4%
2%2%
2%2%
B2C ecommerce
25
20
4%
Business applications
8%
Software & IT Services
46%
10
5
Digital Healthcare
15%
15
0
Communications & Network Systems
15%
Other Clean Technology, Environment
or Energy
 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%
Source: Tech Tour
The Tech Tour Growth 50 B2C Break Down
B2C eCommerce Sector Break Down
B2C eCommerce Sector Break Down
12
10
8%
4%
Retail
Financial Tech
8%
46%
8%
8
6
4
Advertising & Search
2
Food and Beverage
0
Games & Entertainment
8%
Music
Internet Applications & Portals
17%
 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
Source: Tech Tour
The Tech Tour Growth 50 B2B Break Down
Bussiness Applications and Software Services
Break Down
Business Applicatons and Software Service
Break Down
6
15%
5
23%
4
Cloud & Big data
23%
Financial Tech
3
IT Services
2
Security & Cyber Security
1
39%
0
Security & Cyber
Security
Cloud & Big data
 Fin Tech is the major sector with companies providing payment services systems to
enterprise and eCommerce platforms plus enabling technology to mutual fund managers
Source: Tech Tour
IT Services
Financial Tech
The Tech Tour Growth 50 Investor Break Down: Investor Type
Investor by Type
3% 3%1%2% 4%
2%
3%
Investor by Type
Angel
10%
Asset Manager
Corporate Venture
Corporation
Financial Venture
Institutional Investor
180
160
140
120
100
80
60
40
20
0
Private Equity
Public Sector Investor
72%
University
 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
Source: Tech Tour
The Tech Tour Growth 50 Investor Break Down: Geography
Investors by Geographical Location
Investors by Geographical Location
140
1% 5%
120
100
36%
Asia
80
Europe
US
60
Africa
40
58%
20
0
Europe
 US based investors account for over one third of investor by number
 A US based investor is invested in 47 of the TTG50
Source: Tech Tour,
US
Asia
Africa
The Tech Tour Growth 50 Investor Break Down: Companies
Investors in 4 or more TTG50
Companies*
Number of Companies by Investor
1%
1%
6%
8%
One
Two
Three to Four
Five to Nine
Ten or more
83%
 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
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)
What were the criteria for inclusion in the
initial list?
 These were screened by Dow Jones VentureSource and Go4Venture.
Companies that definitely did not meet the criteria were removed.
Companies were estimated to have achieved three of
the four criteria below:
 A list of 144 companies was generated. These companies and/or their
investors were contacted to verify the criteria
 50% sales growth (CAGR from Dec
31sr 2011 to Dec 31st 2014)
 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. .
 A selection 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
 $100 million valuation
 Raised more than $20 million
 Annual revenue greater than $10
million.
The Selection Committee
Bankers & Advisors
Venture &
Growth Equity
Investors
Corporates, Research &
Global Organisations
#16
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:
wstevens@techtour.com.