The SaaS sector is undergoing a ‘reset’: on the public side, revenue multiples went down from 17x a year ago to 6x today. On the private side, funding is down 42% in Q3 with similar trends observed in the US and Europe. What does this mean for European and Israeli SaaS companies? In this presentation, we will dive deeper into:
- How should founders think about their company valuation?
- Are public markets overcorrected?
- How are the public market dynamics impacting the private funding market?
- Will we see a flurry of down round for the 120+ Cloud Unicorns created in Europe and Israel over the past few years?
- Which top 100 companies have been selected for the 2022 Accel Euroscape?
Accel 2021 Euroscape: On the path to global dominance?Philippe Botteri
The European and Israeli cloud ecosystem is accelerating as never before. Back in 2016, Europe and Israel had only four public companies worth less than $9B combined and local cloud companies had raised just $900M throughout 2015. Today, Europe and Israel have generated 23 public companies worth $231B and private cloud financing reached c. $30B. The $900M of SaaS VC funding in 2015 now represents less than Europe's largest financing round, with Celonis raising $1B in June this year. These are just some of the SaaS milestones Europe and Israel have hit over the last year, so now seems like the right time to as: "are Europe and Israel on the path to global SaaS dominace?" Take a look at the insights in our 2021 Euroscape and see what the data says!
2020 has been a challenging year. Yet, amidst the various trials, widespread digital transformation has sparked several triumphs in SaaS. For instance, UiPath made history this summer when they became the first European Cloud Decacorn. Now we’re 10 months in, the question on everyone’s lips is what’s just happened and what’s coming next? In this keynote presentation, Philippe Botteri, Partner and Varun Purandare, VP at Accel will present original findings from Accel’s 2020 Euroscape. They'll explore the biggest trends in SaaS, deep dive into COVID's impacts on the ecosystem and share the region’s top 100 cloud companies.
The European SaaS world changed forever when Daniel Dines, the founder of UiPath made the cover of Forbes last month as ‘Boss of the Bots’. Who would have thought five years ago that a Romanian SaaS company would be valued at $7B 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.
We’re thrilled to announce that we’ve raised Kleiner Perkins’ 18th venture fund -- $600 million to focus on early stage investing. This marks 47 years for our firm, and with a fresh team and strategy, we’re incredibly excited for the next 47 years.
At the Notation annual LP meeting this past fall, we gave a short talk on how we think about pre-seed investing & risk, and why we think there's a particularly interesting risk versus reward tradeoff at this stage.
SaaS Wars: Europe Awakens. The Accel Euroscape 2016Philippe Botteri
Software is eating the world, and Software-as-a-Service (SaaS) is eating software. But where does Europe stand on the SaaS front? This presentation gives an overview of the SaaS landscape in Europe and Israel and identifies the top 100 most promising SaaS companies in the region.
Accel 2021 Euroscape: On the path to global dominance?Philippe Botteri
The European and Israeli cloud ecosystem is accelerating as never before. Back in 2016, Europe and Israel had only four public companies worth less than $9B combined and local cloud companies had raised just $900M throughout 2015. Today, Europe and Israel have generated 23 public companies worth $231B and private cloud financing reached c. $30B. The $900M of SaaS VC funding in 2015 now represents less than Europe's largest financing round, with Celonis raising $1B in June this year. These are just some of the SaaS milestones Europe and Israel have hit over the last year, so now seems like the right time to as: "are Europe and Israel on the path to global SaaS dominace?" Take a look at the insights in our 2021 Euroscape and see what the data says!
2020 has been a challenging year. Yet, amidst the various trials, widespread digital transformation has sparked several triumphs in SaaS. For instance, UiPath made history this summer when they became the first European Cloud Decacorn. Now we’re 10 months in, the question on everyone’s lips is what’s just happened and what’s coming next? In this keynote presentation, Philippe Botteri, Partner and Varun Purandare, VP at Accel will present original findings from Accel’s 2020 Euroscape. They'll explore the biggest trends in SaaS, deep dive into COVID's impacts on the ecosystem and share the region’s top 100 cloud companies.
The European SaaS world changed forever when Daniel Dines, the founder of UiPath made the cover of Forbes last month as ‘Boss of the Bots’. Who would have thought five years ago that a Romanian SaaS company would be valued at $7B 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.
We’re thrilled to announce that we’ve raised Kleiner Perkins’ 18th venture fund -- $600 million to focus on early stage investing. This marks 47 years for our firm, and with a fresh team and strategy, we’re incredibly excited for the next 47 years.
At the Notation annual LP meeting this past fall, we gave a short talk on how we think about pre-seed investing & risk, and why we think there's a particularly interesting risk versus reward tradeoff at this stage.
SaaS Wars: Europe Awakens. The Accel Euroscape 2016Philippe Botteri
Software is eating the world, and Software-as-a-Service (SaaS) is eating software. But where does Europe stand on the SaaS front? This presentation gives an overview of the SaaS landscape in Europe and Israel and identifies the top 100 most promising SaaS companies in the region.
Yuga Labs, the company that created the wildly popular Bored Ape Yacht Club NFT collection, is hoping to make hundreds of millions of dollars by selling off virtual plots of land. According to a leaked pitch deck obtained by The Block, the company also plans to launch a sweeping new metaverse initiative, as well as its own token.
Yuga's revenue last year reached a whopping $127 million, a figure it anticipates will reach $455 million by 2022 — largely from the sale of virtual land.
This leak comes after a flurry of activity in the blue-chip corner of the NFT sector: most notably, Yuga Labs announced the acquisition of the CryptoPunks and Meebits NFT projects’ intellectual property from Larva Labs just days prior. As of today, Yuga Labs owns two of the most valuable NFT projects on the market: BAYC and CryptoPunks projects have a combined trading volume of more than US$3 billion.
Read more: vip.graphics/yuga-labs-pitch-deck/
See the deck: bestpitchdeck.com/yuga-labs
Transparency is one of our core values at Seedcamp and we are no strangers to how tough the fundraising process can be. In a continued spirit of openness and to show how - like with startups - our own story and proposition moves on, we're sharing the deck we used to raise our heavily-oversubscribed Seedcamp Fund V.
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://seedcamp.com/news/
Silverwood Capital Fund I LLC formed to take advantage of a narrow niche in the mortgage note industry. The Company will seek to acquire, workout, and manage nonperforming real estate notes secured by residential 1-4 unit properties. While the primary emphasis will be focusing on nonperforming junior and Home Equity Line Of Credit (“HELOC”) notes, we will purchase select senior liens and REOs.
Using our network of banking and equity fund contacts, and advanced marketing techniques, the Fund will purchase mortgages and real estate at significant discounts to its underlying value. By focusing on distressed mortgages and properties, we know the potential for above average returns exist.
These securities are being offered under an exemption provided by SEC Regulation D Rule 506(c). Only accredited investors who meet the SEC Regulation D 501 “accredited investor” accreditation standards and who provide suitable verification of accredited status may invest into this Offering.
• Any historical performance data represents past performance. Past performance does not guarantee future results;
• Current performance may be different than the performance data presented;
• The Company is not required by law to follow any standard methodology when calculating and representing performance data;
• The performance of the Company may not be directly comparable to the performance of other private or registered funds or companies;
• The securities are being offered in reliance on an exemption from the registration requirements, and therefore are not required to comply with certain specific disclosure requirements;
• The Securities and Exchange Commission has not passed upon the merits of or approved the securities, the terms of the offering, or the accuracy of the materials.
How to VC: Creating a VC fund portfolio modelDave McClure
This article aims to help VCs figure out how to size a venture capital fund, how many companies to include in your portfolio, and when and how to do follow-on investments. Most VCs aim to make a 3X (net) return on initial fund capital, at a ~20% net IRR. Note however, likely less than 10% of most VC funds achieve that goal.
(Pitch Deck): How FTX raised over $1 billionPitch Decks
FTX was arguably the market-leading cryptocurrency exchange before it's highly-publicized liquidity crisis and ensuing bankruptcy filing in late 2022.
FTX (once valued over $32 billion) collapsed in a matter of days in November 2022 after it was revelaed that founder Bankman-Fried had secretly shifted $10 billion of FTX customer deposits to Alameda.
Despite their recent failures, one cannot overlook that FTX was incredibly successful in fundraising in a challenging environment:
They raised their first seed round in 2018 in the midst of the crypto-winter, and raised over $1.8 billion since.
FTX raised multiple rounds led by Sequoia, with participation from notable VC funds like Tiger Global, Softbank, Lightspeed Venture Partners, ICONIQ Growth, and more.
Here's an inside look at an FTX pitch deck from May 2021, presumably used to raise their $1B Series B round announced in June of the same year:
From Bessemer Venture Partners, Partner Mary D'Onofrio releases the definitive benchmarking report on how cloud companies grow operationally efficient businesses and scale to $100 million in ARR (and beyond).
Continuing our tradition and in the spirit of transparency we are sharing the deck we used to raise our oversubscribed Fund VI. We hope it continues to help emerging fund managers and shows founders who have to constantly fundraise that we go through it too!
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://sdca.mp/SeedcampVI
All data taken at Q2'22, investment disclaimers and regulatory notices have been removed from the public version of this deck.
We are big advocates of transparency at Seedcamp and understand first hand just how tough the fundraising process can be. It's not just startups who go through this but funds too. In the spirit of openness, we're sharing the deck we used to go out to investors for Seedcamp Fund IV.
Read more about our plans to invest in 100 new European startups with our biggest and boldest fund yet over on our blog: http://seedcamp.com/seedcamp-fund-iv-announcement/
Accel 2023 Euroscape SaaStock: Generation AI, is an in depth look at what 2023 meant for the cloud ecoystem in the US, Europe and Israel from the global venture firm Accel.
Battery Ventures State of the OpenCloud Report 2022Battery Ventures
Battery Ventures' 2022 State of the OpenCloud report, compiled by General Partner Dharmesh Thakker and his team Danel Dayan, Jason Mendel and Patrick Hsu. The report analyzes the macro technology and economic trends impacting the cloud market, and provides advice for cloud-native entrepreneurs who are navigating these trends to build large, enduring businesses.
Yuga Labs, the company that created the wildly popular Bored Ape Yacht Club NFT collection, is hoping to make hundreds of millions of dollars by selling off virtual plots of land. According to a leaked pitch deck obtained by The Block, the company also plans to launch a sweeping new metaverse initiative, as well as its own token.
Yuga's revenue last year reached a whopping $127 million, a figure it anticipates will reach $455 million by 2022 — largely from the sale of virtual land.
This leak comes after a flurry of activity in the blue-chip corner of the NFT sector: most notably, Yuga Labs announced the acquisition of the CryptoPunks and Meebits NFT projects’ intellectual property from Larva Labs just days prior. As of today, Yuga Labs owns two of the most valuable NFT projects on the market: BAYC and CryptoPunks projects have a combined trading volume of more than US$3 billion.
Read more: vip.graphics/yuga-labs-pitch-deck/
See the deck: bestpitchdeck.com/yuga-labs
Transparency is one of our core values at Seedcamp and we are no strangers to how tough the fundraising process can be. In a continued spirit of openness and to show how - like with startups - our own story and proposition moves on, we're sharing the deck we used to raise our heavily-oversubscribed Seedcamp Fund V.
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://seedcamp.com/news/
Silverwood Capital Fund I LLC formed to take advantage of a narrow niche in the mortgage note industry. The Company will seek to acquire, workout, and manage nonperforming real estate notes secured by residential 1-4 unit properties. While the primary emphasis will be focusing on nonperforming junior and Home Equity Line Of Credit (“HELOC”) notes, we will purchase select senior liens and REOs.
Using our network of banking and equity fund contacts, and advanced marketing techniques, the Fund will purchase mortgages and real estate at significant discounts to its underlying value. By focusing on distressed mortgages and properties, we know the potential for above average returns exist.
These securities are being offered under an exemption provided by SEC Regulation D Rule 506(c). Only accredited investors who meet the SEC Regulation D 501 “accredited investor” accreditation standards and who provide suitable verification of accredited status may invest into this Offering.
• Any historical performance data represents past performance. Past performance does not guarantee future results;
• Current performance may be different than the performance data presented;
• The Company is not required by law to follow any standard methodology when calculating and representing performance data;
• The performance of the Company may not be directly comparable to the performance of other private or registered funds or companies;
• The securities are being offered in reliance on an exemption from the registration requirements, and therefore are not required to comply with certain specific disclosure requirements;
• The Securities and Exchange Commission has not passed upon the merits of or approved the securities, the terms of the offering, or the accuracy of the materials.
How to VC: Creating a VC fund portfolio modelDave McClure
This article aims to help VCs figure out how to size a venture capital fund, how many companies to include in your portfolio, and when and how to do follow-on investments. Most VCs aim to make a 3X (net) return on initial fund capital, at a ~20% net IRR. Note however, likely less than 10% of most VC funds achieve that goal.
(Pitch Deck): How FTX raised over $1 billionPitch Decks
FTX was arguably the market-leading cryptocurrency exchange before it's highly-publicized liquidity crisis and ensuing bankruptcy filing in late 2022.
FTX (once valued over $32 billion) collapsed in a matter of days in November 2022 after it was revelaed that founder Bankman-Fried had secretly shifted $10 billion of FTX customer deposits to Alameda.
Despite their recent failures, one cannot overlook that FTX was incredibly successful in fundraising in a challenging environment:
They raised their first seed round in 2018 in the midst of the crypto-winter, and raised over $1.8 billion since.
FTX raised multiple rounds led by Sequoia, with participation from notable VC funds like Tiger Global, Softbank, Lightspeed Venture Partners, ICONIQ Growth, and more.
Here's an inside look at an FTX pitch deck from May 2021, presumably used to raise their $1B Series B round announced in June of the same year:
From Bessemer Venture Partners, Partner Mary D'Onofrio releases the definitive benchmarking report on how cloud companies grow operationally efficient businesses and scale to $100 million in ARR (and beyond).
Continuing our tradition and in the spirit of transparency we are sharing the deck we used to raise our oversubscribed Fund VI. We hope it continues to help emerging fund managers and shows founders who have to constantly fundraise that we go through it too!
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://sdca.mp/SeedcampVI
All data taken at Q2'22, investment disclaimers and regulatory notices have been removed from the public version of this deck.
We are big advocates of transparency at Seedcamp and understand first hand just how tough the fundraising process can be. It's not just startups who go through this but funds too. In the spirit of openness, we're sharing the deck we used to go out to investors for Seedcamp Fund IV.
Read more about our plans to invest in 100 new European startups with our biggest and boldest fund yet over on our blog: http://seedcamp.com/seedcamp-fund-iv-announcement/
Accel 2023 Euroscape SaaStock: Generation AI, is an in depth look at what 2023 meant for the cloud ecoystem in the US, Europe and Israel from the global venture firm Accel.
Battery Ventures State of the OpenCloud Report 2022Battery Ventures
Battery Ventures' 2022 State of the OpenCloud report, compiled by General Partner Dharmesh Thakker and his team Danel Dayan, Jason Mendel and Patrick Hsu. The report analyzes the macro technology and economic trends impacting the cloud market, and provides advice for cloud-native entrepreneurs who are navigating these trends to build large, enduring businesses.
As Bessemer officially launches its presence in London, Alex Ferrara and Dhruv Jain are releasing this report to reaffirm that Silicon Valley doesn’t have a monopoly on innovation and entrepreneurship is a borderless endeavor. In this report, they share the signals giving us confidence in Europe as a new technology leader, the macro trends driving the rise of the European cloud ecosystem, and the predictions we believe will be a driving force for our investments. To read the full report go to: https://www.bvp.com/atlas/the-rise-of-cloud-in-europe
DealMarket Digest Issue128 - 14th February 2014Urs Haeusler
SEE WHATS NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 128 - February 14th, 2014:
• New Source for Private Equity Performance Data and Analysis
• Large Buyout to Grow French Car Park Specialist
• New Mega-Funds May Have Trouble Finding Mega Targets
• Global M&A Stats Show Private Equity is Finding the Exit
• Cleantech Investment Declines Again in 2013
• Quote of the Week: Bitcoin Anomaly
DealMarket Digest Issue 131 - 7 March 2014Urs Haeusler
SEE WHATS NOTEWORTHY IN PRIVATE EQUITY THIS WEEK /// ISSUE 131 - March 7th, 2014:
- How New European Rules Affect Private Equity Teams
- PE outlook for Europe
- EY’s Top 10 VC Dealmakers Worldwide
- Global Telecom M&A Hits 13 Year High
- PE Drives Robust Returns for Ontario Pension Fund
- Quote of the Week: Venture Capital? Make Way for Geek Guilds
BGX Investment Report covering venture capital flow into the period of 2018 Q4 and market sentiment for blockchain in 2019. Note: we are not talking about discredited ICOs or cryptocurrency predictions.
Battery's annual State of the OpenCloud report, which highlights mega-trends—including cloud computing and the rise of open-source technology—that are upending today’s enterprise-IT market.
Check out @Tracxn's #curated latest #startup activity in #Tech rebrand.ly/c6kcgpb
Subscribe for free https://rb.gy/3yuosu to access reports on your #Geography of interest, every month!
Here's our Jan 2021 copy of Unicorn Report: rebrand.ly/6o48gxi
Subscribe here https://rb.gy/3yuosu for free and get Data & Analysis on new startup Unicorns delivered straight to you
The Pitch Deck (version 2) for Eliconn - a blockchain technology and fintech-approached company which provides services for Supply Chain Finance (SCF) in multiple areas.
Check out @Tracxn's latest #GeoMonthlyReport on #Tech rebrand.ly/oyz1bpj
For more #free #Monthly #StartupReports on geography of your interest, subscribe here: https://rb.gy/3yuosu
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
2. 2
Legal Disclosures
This document has been prepared by Accel Partners Management LLP (“Accel”). Accel is a limited liability partnership incorporated in England and Wales with
registered number OC303424, having its registered office at 1 New Burlington Place, London, W1S 2HR. Accel is authorised and regulated by the Financial
Conduct Authority with registration number 222503.
This document is not directed at and should not be distributed, published, or used in any jurisdiction where such distribution, publication, or use would be
unlawful.
This document is provided for information purposes only and does not constitute an offer, or a solicitation or recommendation, to purchase or sell any security,
investment product or service. This document forms part of a presentation to persons who have been invited to attend such presentation and must be read and
considered in the context of that presentation only.
This document is the property of Accel and is addressed to its recipients exclusively and confidentially for their personal use. It may not be reproduced (in whole or
in part), transmitted, modified, or used for any other purpose without Accel’s prior written permission.
This document does not contain personalised recommendations or advice, is not intended to endorse or recommend a particular course of action or to be
construed or relied on as investment, legal, business, accounting, tax or other professional advice. It does not substitute professional advice on investment in
financial products. As such, before entering into any transaction, investors should consider carefully the suitability of a transaction to their particular circumstances
and, where necessary, obtain independent professional advice in respect of risks, as well as any legal, regulatory, credit, tax, and accounting consequences.
All information used in this document has been obtained from sources believed to reliable as at their date of publication, but accuracy cannot be guaranteed. No
representation or warranties are given or implied with respect to information contained in this document and no reliance should be placed on the contents of this
document.
3. 3
INTRODUCTION
Global Euroscape cloud index down by $1.6T
AVERAGE FORWARD REVENUE MULTIPLE AVERAGE FORWARD GROWTH RATE
* Selection of US, EU and Israeli public companies in the index listed in appendix
Note: Change from September 24, 2021 to September 30, 2022, Selection of US, Europe and Israeli cloud companies. Source: Accel Analysis, Capital IQ
-$1.5T
GLOBAL EUROSCAPE INDEX MARKET CAPITALIZATION
4. 4
EV / NTM REVENUE MULTIPLE EVOLUTION
INTRODUCTION
SaaS multiples below 10-year Pre-COVID average
Source: Accel Analysis, Capital IQ
18.2x
COVID peak
6.1x
10 yr Pre-COVID Average
5.7x
Sep-2022
5. 5
INTRODUCTION
No one is immune: Software & cloud giants lost ~35% of
their market cap…
Note: Represents cloud companies above $100bn in market cap as of September 30, 2022.
Giants represent companies with market cap as of September 30, 2022 above $100bn. Source: Capital IQ
2022
Shopify
$33
10-40% Decrease 40-60% Decrease 70%+ Decrease
MARKET CAP OF SOFTWARE & CLOUD COMPANIES VALUED ABOVE $100B IN LAST YEAR’S EUROSCAPE (SEP 2022)
$327
$100
$181
$34
$121
PayPal Block
$132
$76
$96
$167
$280
$144
$128
$297
Adobe Salesforce SAP ServiceNow
$1,763
2021
$246
$165 $158
$109
$123
$107
Microsoft Oracle Intuit IBM
$2,250 2022
2021 2022
2021
6. 6
CHANGE IN VALUE BY SECTOR OVER LAST YEAR
INTRODUCTION
…and all sectors impacted
Note: Selection of US, Europe and Israeli cloud companies. Logos displayed represent largest LTM market cap % declines for companies with >$10B market cap in last year’s report.
Source: Accel Analysis, Capital IQ
7. 7
Priorities shifting towards profitability
Source: Accel Analysis, Capital IQ
INTRODUCTION
TOP 10 HIGHEST MULTIPLE SAAS COMPANIES
8. 8
IT spend transition to the cloud
(% of of addressable spend)
Strong secular trends despite the reset
Spending on digital transformation ($T) USDC Market Cap ($B)
Source: Gartner, Gartner, IDC, CoinMarketCap,
SHIFT TO THE CLOUD DIGITAL TRANSFORMATION CRYPTO
Spending on cyber security & risk ($B)
CYBER SECURITY
INTRODUCTION
9. 9
INTRODUCTION
We love SaaS globally
20+
IPOs
$8B+
INVESTED
350+
COMPANIES
60+
UNICORNS
ACCEL CLOUD UNICORN MAP
11. 11
Global Euroscape Index back to pre-COVID levels despite 50+
companies added to the Index
Note: Selection of US, Europe and Israeli cloud companies. Companies that comprise the Accel Euroscape indices are listed in the appendix.
Source: Accel Analysis, Capital IQ
69 companies
9.0x NTM Revenue
122 companies
5.7x NTM Revenue
EUROSCAPE INDEX PERFORMANCE OVER TIME
MARKET SNAPSHOT
12. 12
Have we overcorrected?
Note: Selection of US, Europe and Israeli cloud companies. Companies that comprise the Accel Euroscape indices are listed in the appendix.
Cloud growth rates are most recent quarter (YoY, c/c) Source: Accel Analysis, Company Filings, Capital IQ
EUROSCAPE INDEX PERFORMANCE OVER TIME
c.30% historical CAGR implying $800B
value gap
c.30% CAGR in line with cloud infrastructure
Implied Multiple: c.9x
Value gap:
$800B
Cloud growth rate
: 33%
: 46%
: 36%
MARKET SNAPSHOT
13. 13
Trigger: Rising inflation driving interest rates up
10 YEAR US TREASURY YIELD INFLATION (CPI), YOY
Source: Accel Analysis, Capital IQ
Forecast
MARKET SNAPSHOT
14. 14
Source: Pitchbook, Clouded Judgement, Accel Analysis
Macro softening putting pressure on growth rates and
accelerating decline
SAAS COMPANY QUARTERLY RESULTS VS. CONSENSUS ESTIMATES ESTIMATE MISSES HAVE COME ACROSS SAAS CATEGORIES
MARKET SNAPSHOT
15. 15
Rule of 40 calculated as the sum of most recent quarter revenue growth (YoY) and LTM FCF margin.
Note: Each dot represents a public SaaS company in the Accel Euroscape index. Source: Accel Analysis, Capital IQ
Multiple contraction less severe for ‘Rule of 40’ companies
MARKET SNAPSHOT
Divided by
3.5x
Divided by
2.2x
16. 16
IPO window closed after a record year
Source: Accel Analysis, Capital IQ, Qatalyst
SAAS IPO VALUE BY YEAR ($B)
MARKET SNAPSHOT
17. 17
M&A frenzy fueled by low valuations and take-privates…
AGGREGATE SOFTWARE M&A VALUE FOR LARGE DEALS ($B)
*Unaffected premium indicates premium based on day prior to transaction announcement or of day prior to rumors of a potential transaction
Source: Accel Analysis, Capital IQ, Qatalyst
Software acquisitions with
$500M+ enterprise value
2022 TAKE PRIVATES ($B)
9x
NTM Revenue Multiple
33%
Median Share Price Premium
vs. Last Unaffected Day*
MARKET SNAPSHOT
18. 18
M&A momentum expected to last with c.$770B of cash on the
sidelines
$440B from strategic
software acquirers
$330B dry powder
from private equity
software acquirers
CASH AND CASH EQUIVALENTS
(As of most recent public balance sheets)
SELECTED M&A OVER LAST YEAR
~$770B
Represents c. 2/3 of
$1.2T value of
Euroscape Index
Target
Enterprise
Value
Acquirer(s)
$22.3B
$17.0B
$10.1B
$9.8B
$8.3B
$6.9B
NTM Revenue
Multiple
48.8x
8.9x*
12.8x
5.4x
9.1x
13.3x
* LTM Revenue Multiple provided
Note: Dry powder numbers include cash and cash equivalents, as well as short term investments, as of 30 September 2022
Source: Accel Analysis, Qatalyst, Pitchbook, Capital IQ
$5.5B 8.8x
MARKET SNAPSHOT
+
19. 19
Record $230B cloud venture funding since 2020 - Unicorns
taking the lion’s share…
TOTAL CAPITAL RAISED IN US, EU & IL SAAS SINCE 2020
($B)
~$230B
~360 total
Unicorns in
US / EU / IL
~54% of SaaS
funding
absorbed by
unicorns
SELECT EU/IL UNICORNS
~$345M per
Unicorn on
average
~125B in
Unicorn
funding since
2020
MARKET SNAPSHOT
Source: Accel Analysis, Dealroom, Pitchbook, Crunchbase
20. 20
EU & IL – LARGEST SAAS RECIPIENTS OF FUNDING SINCE 2020 USA – LARGEST SAAS RECIPIENTS OF FUNDING SINCE 2020
…raising billions of capital since 2020
$1.6B
$1.3B
$1.3B
$1.0B
$2.0B
$1.0B
$1.8B
$1.2B
$1.2B
$0.9B
$2.6B
$1.2B
Note: Unicorns founded before 2005 are excluded
Source: Accel Analysis, Dealroom, Pitchbook, Crunchbase
MARKET SNAPSHOT
21. 21
Concentration of capital with unicorns consistent across US,
Europe and Israel
TOTAL CAPITAL RAISED IN US SAAS SINCE 2020
($B)
TOTAL CAPITAL RAISED IN EU/IL SAAS SINCE 2020
($B)
~55% of Capital raised
absorbed by Unicorns
~54% of Capital raised
absorbed by Unicorns
Note: Funding figures as of September 30, 2022
Source: Accel Analysis, Pitchbook, Dealroom
MARKET SNAPSHOT
22. 22
EUROPE & ISRAEL – LARGEST PRIVATE ROUNDS LTM UNITED STATES – LARGEST PRIVATE ROUNDS LTM
Last 12 months still showing large rounds happening…
Note: Unicorns founded before 2005 are excluded
Source: Accel Analysis, Dealroom, Pitchbook, Crunchbase
$1.0B
$0.6B
$0.6B
$1.0B
$0.6B
$1.2B
$0.5B
$1.3B
$0.4B
MARKET SNAPSHOT
$0.6B
$0.9B
$0.7B
23. 23
…and increase in average round size across all stages…
2022
Avg Seed for US, EU, IL SaaS Companies Avg Series A for US, EU, IL SaaS Companies Avg Series B for US, EU, IL SaaS Companies
Note: Funding figures as of September 30, 2022
Source: Accel Analysis, Dealroom
EU/IL US
MARKET SNAPSHOT
$1m
$2m
$1m
$1m
$2m
$2m
$2m
$2m
$2m
$1m
$2m
$4m
2017 2018 2019 2020 2021
$7m
$10m
$12m
$12m
$13m
$13m
$8m
$7m
$14m
$16m
$17m
$21m
2022
2017 2018 2019 2020 2021
$21m
$21m
$27m $28m
$24m
$18m
$21m
$39m
$36m
$43m
$40m
2022
2017 2018 2019 2020 2021
$21m
24. 24
…but venture financing eventually dropping sharply in Q3 after
record quarters
TOTAL CAPITAL RAISED IN SAAS
($B)
Note: Funding figures as of September 30, 2022
Source: Accel Analysis, Dealroom
TOTAL CAPITAL RAISED BY QUARTER (EU, ISRAEL, & US)
($B)
$xb $xb
-42%
-12%
EU/IL US
83.7
73.9
MARKET SNAPSHOT
25. 25
TOTAL VENTURE CAPITAL RAISED IN SAAS
Decline in EU/IL funding consistent with US decline
EU/IL US
Similar decline across US
and EU/IL funding: -40%
and -42% QoQ respectively
Note: Funding figures as of September 30, 2022
Source: Accel Analysis, Dealroom
MARKET SNAPSHOT
26. 26
Unicorn creation back at pre-COVID levels
LTM NEW UNICORNS CREATION
COVID
First Lockdown
NEW UNICORNS OVER TIME
EU/IL
US
Notes: Excluding Factorial (Q4 Unicorn)
Source: Accel Analysis, CB Insights, Dealroom, Pitchbook
MARKET SNAPSHOT
Current
27. 27
Recent EU/IL SaaS unicorns highlighting diversity
of EU ecosystem
SELECTED NEW RoE UNICORNS
2022 NEW UNICORNS
TOTAL # OF EU/IL SAAS UNICORNS
Note: Unicorns from October 2022 added to the total despite being in Q4 2022
Source: Accel Analysis, CB Insights, Dealroom, Pitchbook, Public Information
ISRAEL
FRANCE
NORDICS
REST OF
EUROPE
UK
32
NORDICS
GERMANY
FRANCE
REST OF
EUROPE
ISRAEL
UK
GERMANY
33
122
MARKET SNAPSHOT
2022
29. 29
122 Europe and Israel Cloud Unicorns
$10B+
$5B+
$2.5B+
$1B+
122 COMPANIES
$44B RAISED SINCE JAN 2020
Source: Accel Analysis, Public Information
EUROPE AND ISRAEL CLOUD UNICORNS
HEALTH CHECK
Added in last
12 months
30. 30
~50% with less than $100m of ARR
Median
PIC
$1.5b
$1.3b $2.6b $2.1b $3.0b $3.8b
$260m $295m $500m $450m $525m $400m
Sources: Accel Analysis, Dealroom, Pitchbook, CB Insights
Median Valuation
HEALTH CHECK
EU/IL UNICORNS BY ARR BAND
31. 31
ARR multiples at last round valuation ranging from 8x to 50x
EV / ARR MULTIPLE OF EU/IL UNICORNS BY ARR BAND*
*Calculated by dividing the median valuation for the group by the mid-point of ARR band (e.g. $25M ARR for $0-50M band)
Sources: Accel Analysis, Dealroom, Pitchbook, CB Insights
HEALTH CHECK
32. 32
Framework - Example for Unicorns with ARR $0-50M
Description
Median valuation of companies in the $0-50M ARR bracket
Assumed ARR multiple at next round, based on normalized market multiple
Calculated as a Unicorn’s current valuation divided by ARR multiple (e.g., $1.25B / 10x = $125M)
Incremental ARR for Unicorn to grow into its valuation; E.g., if a Unicorn has $25M in ARR when it
raised capital at $1B valuation then the ARR grap is $75M assuming 10x ARR multiple
The burn multiple is equal to ‘net burn / net new ARR’; To have a burn multiple of 1.4 means for every
$1M of net new ARR, the company burned $1.4M
‘Net burn / net new ARR’ to double valuation at the next round
Current paid-in capital minus estimated capital burned to-date (1/3rd) also assuming $50M buffer
ahead of next round
Assumed ARR of companies in the $0-50M ARR bracket
Sources: Accel Analysis, Dealroom, Pitchbook, CB Insights
Metrics
$1.25B
10x
$25M
$125M
$100M
$123M
1.2x
0.5x
Valuation
ARR Multiple
(Next Round)
ARR Required for
‘Flat Round’
ARR Gap
Burn Multiple for
‘Flat Round’
Burn Multiple for
2X mark-up
Estimated Cash
Balance
Current ARR
HEALTH CHECK
35. 35
2,200+
EU & ISRAEL BORN SAAS COMPANIES
2022 EUROSCAPE
2022 Accel Euroscape
WHO? HOW?
25+
COUNTRIES
▪ Market attractiveness
▪ Competitive differentiation
▪ Product
▪ Team strength
▪ Momentum (ARR, FTEs)
▪ Customer feedback
36. 36
2022 EUROSCAPE
2022 Accel Euroscape Top 100 EU & Israel cloud companies with revenues above
$1m and valued at less than $1bn
E-COMMERCE /
MARKETING
PRODUCTIVITY /
COLLABORATION
FINANCE / HR /
LEGAL
COMPLIANCE
BLOCKCHAIN /
CRYPTO
DATA / BI /
ANALYTICS
AUTOMATION
PAYMENTS /
BANKING INFRA
DEVELOPERS /
INFRASTRUCTURE
SALES / SUPPORT
SECURITY
VERTICAL SAAS
37. 37
2022 Accel Euroscape: At a glance
~20,000
Employees
$8.0B
Total Funding
20
Countries
$19.5M
Avg. Series A
Funding
$80M
Average
Funding
115%
LTM FTE
Growth
Note: Funding figures as of September 30, 2022
Source: Accel Analysis, CB Insights, Dealroom, Pitchbook
2022 EUROSCAPE
38. 38
Euroscape winners raised $8B
– Finance/HR/Legal category leading the pack
$M
$8.0B
TOTAL RAISED
Note: Funding figures as of September 30, 2022
Source: Accel Analysis, CB Insights, Dealroom, Pitchbook
FUNDING BY CATEGORY
2022 EUROSCAPE
39. 39
Most winners founded 4-5 years ago…
Median = 5 years
(same as 2021)
YEARS FROM FOUNDING
# of companies
2022
2021
2022 EUROSCAPE
Source: Accel Analysis, Linkedin, Pitchbook, Dealroom, Crunchbase, Company data
40. 40
… with less than 200 FTEs and less then $100M raised
# OF EMPLOYEES
Source: Accel Analysis, Linkedin, Pitchbook, Dealroom, Crunchbase, Company data
CAPITAL RAISED ($)
Number of companies by category
Median = $39m
2022
2021
2022 EUROSCAPE
41. 41
2022 Accel Euroscape: Customer centric
Score & Review Growth
G2 Average Score
G2 Average Review Growth
+35%
+134%
Note: Only Top 10 categories highlighted for G2 scoring
Source: Accel Analysis, G2
Score by Category
2022 EUROSCAPE
43. 43
WHAT’S NEXT
What’s Next?
PROLIFERATION OF
EMBEDDED FINANCE
RISE OF THE DEVELOPER DRIVEN
DATA STACK
CLOUD SECURITY TURNING TO
THE APPS & DATA LAYERS
INFRASTRUCTURE AND TOOLING
FOR THE HYBRID WORKFORCE
PERSONALIZED COMMERCE
BECOMING A REALITY
WEB3/CRYPTO DEVELOPER, DATA AND
SECURITY TOOLING LEVELLING UP
44. 44
Cloud security turning to the app & data layers
▪ With the ongoing migration to the cloud in full swing and only
around 40% complete, securing the cloud remains a top priority for
companies
▪ Following heavy investments in cloud infra security (e.g. CSPM,
CIEM) and identity solutions, CISOs are turning their focus to
securing the development pipeline, apps and their data landscape
across multiple platforms
▪ Emergence of solutions capable of classifying and remediating
sensitive data at cloud scale
Source: Gartner
GARTNER SURVEY – SECURITY REMAINS THE TOP MID / ENTERPRISE PRIORITY
Values represent CIO / IT Leader survey responses in terms of active IT projects in these categories
WHAT’S NEXT
45. 45
Infrastructure and tooling for the Hybrid Workforce
AVAILABILITY OF REMOTE-WORK OPTIONS IN THE US,
% OF EMPLOYED RESPONDENTS 1
▪ Post pandemic world increasingly requires collaboration tools that
can adapt to the increasingly hybrid nature of remote work
▪ With remote / hybrid work becoming the new standard, companies
are increasingly faced with complex and challenging compliance
and legal issues
▪ Key labor shortages in critical areas driving greater need to
maximise effective use of internal talent
▪ AI unleashing new generation of internal talent marketplaces
and platforms
NOT OFFERED
REMOTE WORK
OPPORTUNITIES 2
OFFERED REMOTE
WORK ON A
FULL-TIME BASIS
OFFERED REMOTE
WORK PART-TIME
OR ON OCCASION
Notes: 1. N=13,896, 2. includes respondents who answered “I don’t know” (1%)
Source: Public Information, Accel Analysis, McKinsey
WHAT’S NEXT
46. 46
Personalized commerce becoming a reality
Source: Charles
▪ Commerce platforms’ move to cloud-native, API-driven headless
architectures unlocks new customer journeys and customisation
▪ Consumers are looking for more personalized experiences, with
merchants needing scalable new channels & automation to
engage and sell
▪ Emergence of conversational and social commerce platforms in
the US and Europe, following major adoption in Asia and LatAm
EMERGENCE OF CONVERSATIONAL COMMERCE GAINS MOMENTUM
WHAT’S NEXT
47. 47
▪ Companies will increasingly adopt embedded finance within
their offerings to improve their unit economics, build deeper
customer relationships and stay competitive
▪ Proliferation of Open Banking platforms has democratized
access to data that was historically limited to financial institutions
making it easier than ever to underwrite risk / understand the
customer
▪ Infrastructure tooling has matured and now targets non-fintechs -
effectively lowering barriers to development
Proliferation of embedded finance
Source: Public Information, Accel Analysis, Bain & Bain Capital
Payments Lending Banking
B2C BNPL
Account
Issuing
B2B POS Lending Card Issuing
Business
Mortgages
Insurance
B2C
B2B
MARKET SEGMENTATION
WHAT’S NEXT
48. 48
Source: Public Information, Accel Analysis, Gartner
Rise of the developer driven data stack
GARTNER PREDICTIONS – DATA INFRASTRUCTURE
▪ Evolution in cloud data infrastructure is underpinning multiple
growth categories, from data-driven B2C products to enterprise ML
▪ Data teams are borrowing best practices from software
development and are demanding new tools for reliability,
versioning and governance
▪ Data infrastructure stack is transitioning from ‘top-down’ legacy
tools to developer-centric solutions for data engineers and analysts
“By 2023, 60% of organizations will compose components from
three or more analytics solutions to build business applications
infused with analytics that connect insights to actions.”
“Through 2024, 50% of organizations will adopt modern data quality
solutions to better support their digital business initiatives.”
“Through 2025, 80% of organizations seeking to scale digital
business will fail because they do not take a modern approach to
data and analytics governance.”
WHAT’S NEXT
49. 49
Web3 / crypto developer, data and security tooling levelling
up
THOUGHT LEADERS EMERGING ACROSS THE WEB3 STACK
▪ The recent bull run stoked significant innovation in the picks &
shovels for Web3
▪ The quality of tooling is catching up with expectations and
usage, with thought leaders emerging across the stack
▪ Similar to the 2018-20 crypto winter, Web3 developer activity
appears robust despite falling token prices
▪ Web3 security software is becoming increasingly sophisticated
and battle-tested
▪ Europe and Israel remain well-positioned as Web3 innovation
hubs
Security
Data & analytics
Development
Infrastructure
WHAT’S NEXT