New month, new SaaS funding update by Knight Capital. As we saw public markets crash this month, interestingly enough there were no spillover effects yet visible in the funding activity. Some further key insights were: - Big similarities between March and April - $19M average funding amount in both months B2B software ventures in Europe raise €2.6B in April across 134 deals - SonarSource and Nord Security join the European B2B SaaS Unicorn Club - April’s Top 3 largest funding rounds consist of SonarSource (€ 375M), Beqom ( € 273M), and Kpler (€ 200M).

1. April 2022 Edition
Funding Update
Funding in European B2B Software
Knight Capital
Funding Update

2. April ’22: Deal Value and Volume
PART1
Unless stated otherwise, all numerical values regarding Funding are reported in Euros.
All Funding denominated/raised in Dollars is converted to Euros at a 1.10 EUR/USD rate.
All deals are taken into consideration, for which deal size data was available.

3. With €2.6B raised across 134 deals, we see similar funding activity compared to all of Q1 '22 and April '21. In both months,
the average funding amount was €19M. Interestingly, no spillover effects of the public market crash are yet visible.
B2B software ventures in Europe raise €2.6B in April
4

4. 4
In April, €0.65B has been deployed in rounds of €250M or higher, and €0.61B in rounds between 100M-
250M.
Deal Value per Round-Size Category

5. Deal Value per Round-Size Category
5
CY 2021 Q1’22 April 2022
Deal Value % Deal Value % Deal Value %
Deals < 1 M € 0.18 0.7% 0.03 0.3% 0.01 0.4%
Deals 1 - 5 M € 1.50 5.7% 0.33 3.5% 0.16 6.3%
Deals 5 - 15 M € 2.77 10.5% 0.62 6.5% 0.24 9.4%
Deals 15 - 40 M € 3.51 13.4% 1.32 13.9% 0.27 10.7%
Deals 40 - 100 M € 5.29 20.1% 2.42 25.4% 0.62 24.1%
Deals 100 - 250 M € 6.35 24.2% 2.84 29.8% 0.61 23.9%
Deals > 250M € 6.66 25.4% 1.97 20.7% 0.65 25.3%
Total € 26.26 100.0% 9.53 100.0% 2.56 100.0%
Deal value figures are presented in Billion-Euro amount
Deals above €40M represented around 73.3% of all B2B Software Funding in Europe in April ’22,
whereas this was 69.7% on average last year.

6. 6
Deal Frequency per Round-Size Category
44% of the deals (59) were between 1-5M EUR and 19% of the deals (26) were in the 5-15M EUR category.

7. Top 10 Deals in Europe
PART2

8. Top 10 Largest Deals - April 2022
8
SonarSource, Beqom and Kpler closed the largest rounds in April, raising € 375M, € 273M and € 200M
respectively.

9. 1 1
Cumulatively, April’s ‘Top 10’ attracted €1.6B in Funding, which is 63% of all
B2B Software Funding raised in Europe in April.
Top 10 Largest Deals - April 2022

10. Funding in Europe’s Top 7 Software Hubs
PART3

11. Funding in Europe’s Software Hubs*
1 2
The Top-7 European Software Hubs accounted for 72% of Funding raised across all European countries in April 2022.
• Denmark, France, Germany, The Netherlands, Spain, Sweden & The United Kingdom
April 2022

12. European Unicorns
PART4

13. Unicorn Announcements
2 3
In April two new unicorns* were announced in the B2B European software landscape.
• *Unicorn companies are those that reach a valuation of $1 billion

14. Knight Capital
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