GP Bullhound released its annual Titans of Tech 2022 report, highlighting growth trends in the European tech ecosystem.
GP Bullhound is a leading technology consulting and investment firm. Founded in 1999 in London and Menlo Park, the firm has 12 offices in Europe, the US, and Asia.
Titans of Tech 2022 report showed another record year for the European tech sector, worth more than one billion dollars, as many new «unicorns» appeared during this period as in the past three years.
In 2013, the concept of “unicorn companies” was coined by Cowboy founder Eileen Lee. She referred to 39 startups that were valued at more than $1 billion. The term emphasized the rarity of such startups.
According to the GP Bullhound report, there are today 283 companies in Europe with a value of $1 billion, ten times more than in 2014. 44% of companies reached «unicorn» status last year, which increased the number of mega-rounds and IPOs.
The European tech ecosystem continues to show strength, as evidenced by record numbers from last year. Inflation jumped to a 40-year-high today. Companies that are growing will suffer more than others as investor focus shifts from growth to profitability. Companies that respond quickly will take the chance to readjust and continue to build industry leaders.Manish Madhvani, Co Founder GP Bullhound
The Titans of Tech 2022 report also includes an analysis of those startups that qualify for unicorn status and will reach that milestone in the next two years. The list of the top 50 European contenders was compiled by GP Bullhound based on an analysis of 1,000 startups. The research has been conducted since 2015, considering the sectors and countries in which the next European business leaders are likely to emerge.
Interviews with experts
What does it take to create a billion-dollar company? What are the critical success factors for European technology? How do we remain resilient in markets and capitalize on economic downturns? In this year’s report, opinion leaders Alan, Revolut, Spendesk, VivaTech, Connex One, Dashlane, Homa Games, StuDocu, Typeform and Streetbees answer these questions.