This piece is an accompaniment to our newly launched ranking of Europe's B2B “rising 100” soonicorn startups. Check it out in full here.
Berlin-based presentation software Pitch has taken the top spot in the ranking of 100 VC-backed, B2B European “soonicorns” published today by Sifted.
The analysis was based on several key metrics, including companies’ financials, cap table strength, product differentiation, momentum and market opportunity. The report was sponsored by VC Sapphire Ventures, with research undertaken independently by Sifted.
Pitch was followed by Dutch fashion reseller Otrium and London-based payment automation platform Primer.
Europe's soonicorns: the data
Spanning 18 countries and 13 major sectors, the first cohort of Europe's soonicorns is backed by more than 750 investors, angels and accelerators, and tracks the ventures of 272 founders. It also largely confirms some trends and features of Europe’s tech ecosystem.
As expected, the UK, Germany and France are home to most (69%) selected startups, followed by the Nordics. Their respective capitals are the hottest hubs, although Amsterdam, Munich and Bristol boasted a few appearances. Three companies were founded in Europe but categorised themselves as fully remote.
Deeptech, meanwhile, was the most backed sector, with an average of $173m in total funding, followed by HR tech and fintech. Large cheques for companies such as Wandelbots, Isar Aerospace and ICEYE contributed to the sector’s funding prominence, but fintech and enterprise tech still retained top spots for both overall funding and the number of startups featured.
The majority (79%) of the soonicorn cohort’s latest fundraising rounds are either Series A or Series B, reflective of young startups growing at significant traction.
Europe's next unicorns: top 10
- Pitch — Makers of collaborative presentation software
- Otrium — Platform used by clothing labels to sell unsold inventory
- Primer — Payment automation platform that hooks merchants up with multiple pay options
- Tines — No code platform that automates security work
- Synthesia — Helps companies create “studio-grade” training, how-to or product explainer videos using AI-powered avatars
- Factorial — All-in-one software for HR managers
- Yapily — Open banking infrastructure that allows users to share bank data directly with other parties
- Sylvera — Data company that analyses and rates carbon-offset projects
- Rossum — Promises to bring companies’ entire document processing operations under one platform
- Codat — Provides accounting data to simplify lending and business connectivity for small businesses
To read the full report on the next 100 European B2B unicorns click here.