2019 Accel Euroscape – The Rise of Europe

This post is by Philippe Botteri from Cracking The Code

The top 100 SaaS companies in Europe and Israel

The European Software-as-a-Service world changed forever when Daniel Dines, the founder of UiPath, made the cover of Forbes as ‘Boss of the Bots’ last month. Who would have thought five years ago that a Romanian SaaS company would be valued at $7 billion and reach that valuation in record time?

It is prime time for European SaaS companies and the third edition of the Accel Euroscape, the list of the top 100 SaaS companies from Europe and Israel, shows the rising position of Europe on the global SaaS stage, benchmarks how European SaaS companies compare to their US counterparts and lays out five predictions for the European SaaS market. Full presentation available here.

Bigger, stronger, faster: SaaS continues to eat software

First, let’s zoom out and look at how SaaS companies have performed globally. Ten years ago, in October 2009, Salesforce was a dominant force among the 21 public SaaS companies, with a valuation that represented one third of their combined $22 billion market capitalisation. Since then, its market cap has grown 18x, reaching $130 billion, which is the fourth biggest for an enterprise software company right behind companies that are 20 years older, Microsoft, Oracle and Adobe.

Today, the landscape is very different. There are 66 public SaaS companies, representing a formidable $796 billion combined market cap, which is 36x bigger than the combined 2009 market cap! The new generation of public SaaS companies is also growing faster, reaching (Read more...)