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4 | Data Sources | Crunchbase - CBInsights - Pitchbook | Average Capital to Exit Multiple | 11 | IRE Based | 6 | FRA Based | 7 | OTHER Based | 3 | ||||||||||||||||
5 | European B2B Software Exits from April 2015 to April 2018 | Average Years to Exit | 7 | UK Based | 13 | GER Based | 5 | BeNeLux Based | 7 | |||||||||||||||||
6 | Legend | M - Million | B - Billion | EUR to USD - 1.2 | GBP to USD - 1.36 | - xe.com | Ideally Forward Number | |||||||||||||||||||
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11 | Company | Key Investor | Location | Acquirer | Total Funding | Exit Price | Investment Multiple | Sector | Year Founded | Year Exited | Years to Exit | Sales to Exit Multiple | Notes | |||||||||||||
12 | AVG | Intel | Amsterdam | Avast | $252M | $1.3B | 5.2 | Cybersecurity | 1991 | 2016 | 25 | IPO'd in 2012 | https://www.linkedin.com/pulse/cloud-europe-2017-factory-cranking-philippe-botteri/ | |||||||||||||
13 | Exclusive Group | Edmond de Rothchild Ventures | France | Permira | $71.3M | $1.3B | 18.2 | Cybersecurity | 1995 | 2018 | 23 | |||||||||||||||
14 | Cint | Creandum | Stockholm | Nordic Capital | $17.4M | $107M | 6.15 | Analytics | 1998 | 2016 | 18 | |||||||||||||||
15 | Datahug | Draper | Cork | Callidus Cloud | $5.5M | $12M | 2.2 | SalesTech | 2010 | 2016 | 6 | |||||||||||||||
16 | Definiens | Cipio Partners | Munich | MedImmune | $30M | $150M | 5 | Computer Vision - Health | 1994 | 2015 | 21 | |||||||||||||||
17 | WiseKey | GVA Capital | Geneva | IPO | $189M | $230M | 1.2 | Cybersecurity | 1999 | 2016 | 17 | |||||||||||||||
18 | Tobii AB | Northzone Ventures | Stockholm | IPO | $121.8M | $244M | 2 | HealthTech (Eye Tracking Software) | 2001 | 2015 | 14 | |||||||||||||||
19 | Fleetmatics | Investcorp | Dublin | Verizon | $93M | $2B | 21.5 | Telematics | 2004 | 2016 | 12 | |||||||||||||||
20 | Teads | HSBC | Montpellier | Altice | $126M | $300M | 2.4 | Martech - Publisher Tools | 2005 | 2017 | 12 | |||||||||||||||
21 | Clear Score Technology | Bridgewater Ventures | London | Experian | $13.7M | $385M | 28.1 | Fintech | 2014 | 2018 | 4 | |||||||||||||||
22 | ION Trading | TA Associates | London | The Carlyle Group | $35M | $400M | 11.4 | Fintech | 1999 | 2015 | 16 | |||||||||||||||
23 | Movimento Group | Verdane Capital | Sweden | Delphi Automotive PLC | $9.6M | $40M | 4.1 | Automotive Software - Vehicle Lifecycle | 2003 | 2017 | 14 | |||||||||||||||
24 | Trustev | ACT | Cork | TransUnion | $7.8M | $44M | 5.6 | Fraud Detection - Security | 2013 | 2015 | 2 | |||||||||||||||
25 | Datasift | Amadeus Capital Partners | London | Meltwater | $72M | $450M | NA | Big Data - Analytics | 2010 | 2018 | 8 | |||||||||||||||
26 | BIME Analytics | Alven Capital | Montpellier | Zendesk | $5M | $45M | 9 | BI Tools | 2009 | 2015 | 6 | |||||||||||||||
27 | Obvious Engineering | Kima Ventures | London | Snap | $0.65M | $47M | 72 | Computer Vision | 2013 | 2016 | 3 | |||||||||||||||
28 | Mimecast | Index | London | IPO | $90.2M | $540M | 5.5 | E-Mail Management | 2003 | 2015 | 12 | |||||||||||||||
29 | Hibernia Networks | HSBC | Dublin | Global Telecom & Technology - GTT | $203M | $590M | 2.9 | Cybersecurity | 2009 | 2016 | 7 | |||||||||||||||
30 | Prima Soltions | Cairnwood Corporation | Paris | The Carlyle Group | $6.2M | $60M | 5.8 | Fintech (Insurance Tech) | 2000 | 2017 | 17 | |||||||||||||||
31 | Mail.ru | Naspers | Moscow | Megafon | $165M | $680M | 4.1 | Martech | 1998 | 2016 | 18 | |||||||||||||||
32 | Logentries | Frontline | Dublin | Rapid7 | $11.1M | $68M | 6.2 | Analytics - Data | 2010 | 2015 | 5 | 27.1 | ||||||||||||||
33 | Rightware | Nexit Ventures | Finland | Thundersoft | $9.5M | $68M | 7.1 | Automotive - Interface Builder Tool | 2009 | 2016 | 7 | |||||||||||||||
34 | Trustly | Bridgepoint | Stockholm | Nordic Capital | $23M | $700M | 30.4 | Fintech | 2008 | 2018 | 10 | |||||||||||||||
35 | Mirriad | Unilever Ventures - Seraphim Capital | London | IPO | $36M | $86M | 2.4 | AdTech | 2007 | 2017 | 10 | |||||||||||||||
36 | Britebill | Investec | Dublin | Amdocs | $9M | $96M | 10.5 | SalesTech | 2010 | 2016 | 6 | |||||||||||||||
37 | Science Warehouse | Mercia Fund Management | Leeds | Advanced | £3.5M | £16M | 4.6 | Spend Management | 2000 | 2018 | 18 | |||||||||||||||
38 | Clavis Insight | Draper | Waterford | Ascential (ASCL (LON)) | $35.7M | €130M | 3.64 | EComm | 2007 | 2017 | 10 | 7.6 | ||||||||||||||
39 | Adbrain | Octopus | London | The Trade Desk (NASDAQ: TTD) | $16.5M | Undisclosed | NA | AdTech | 2012 | 2017 | 5 | |||||||||||||||
40 | Amplidata | Western Digital Capital | Belgium | HGST | $44.1M | Undisclosed | NA | Enterprise (cloud storage software) | 2008 | 2017 | 9 | |||||||||||||||
41 | Ancoa | LRM Capital | London | Cinnober Financial Technology | £4.1M | Undisclosed | NA | Analytics - Fintech | 2010 | 2015 | 5 | |||||||||||||||
42 | Augure | Amundi Private Equity Funds | Paris | Launchmetrics | $35M | Undisclosed | NA | Publishing / MarTech | 2002 | 2017 | 15 | |||||||||||||||
43 | Big Data Partnership | Berringea | London | Teredata | £4.4M | Undisclosed | NA | ML/Big Data | 2012 | 2016 | 4 | Yet to Exit | ||||||||||||||
44 | Blue Tree Systems | Undisclosed | Galway | ORBCOMM | Undisclosed | Undisclosed | NA | IoT - Telematics | 1994 | 2017 | 23 | |||||||||||||||
45 | Cloud9 IDE | Balderton | London | Amazon | $9.4M | Undisclosed | NA | Devtools | 2010 | 2016 | 6 | |||||||||||||||
46 | eWings.com | FSF Betelligungs | Berlin | Hogg Robinson Group PLC | €1.1M | Undisclosed | NA | travel tech | 2013 | 2017 | 4 | |||||||||||||||
47 | Fits.me | Entreprenures Fund | London | Rakuten | $16.2M | Undisclosed | NA | Fashion Tech | 2009 | 2015 | 6 | |||||||||||||||
48 | Forcare | Prime Ventures | Utrecht | Koninklijke Phillips | €5M | Undisclosed | NA | Work Tools | 2006 | 2017 | 11 | |||||||||||||||
49 | Gitter | Index | London | GitLab | $2.2M | Undisclosed | NA | Devtools | 2014 | 2017 | 3 | |||||||||||||||
50 | Infinit | 360 Capital Partners | Paris | Docker | $2.2M | Undisclosed | NA | Devtools | 2012 | 2016 | 4 | |||||||||||||||
51 | Logmatic.io | ISAI | Paris | Datadog | €0.9M | Undisclosed | NA | Devtools | 2014 | 2017 | 3 | |||||||||||||||
52 | PriceMatch | Northzone Ventures | Paris | Booking.com | €9M | Undisclosed | NA | travel tech / hotel bookings | 2012 | 2015 | 3 | |||||||||||||||
53 | Redbird | Commerical Drone fund | Paris | Airware | €2.8M | Undisclosed | NA | Drone Software | 2013 | 2016 | 3 | |||||||||||||||
54 | RES Software | ORIX Growth Capital | Des Bosch | Invanti | $16.2M | Undisclosed | NA | IT Workspace | 1999 | 2017 | 18 | |||||||||||||||
55 | Satago | Bertelsmann | London | Oxygen Finance | $7.7M | Undisclosed | NA | Fintech | 2012 | 2017 | 5 | |||||||||||||||
56 | Savedo | FinLeap | Berlin | Deposit Solutions | $7.6M | Undisclosed | NA | Fintech | 2014 | 2017 | 3 | |||||||||||||||
57 | TextMaster | Alven Capital | Brussels | Technicis | $8.4M | Undisclosed | NA | Translation | 2011 | 2018 | 7 | |||||||||||||||
58 | Triposo Labs | Interwest Partners | Amersfoort | Musement | $8.3M | Undisclosed | NA | travel tech | 2010 | 2017 | 7 | |||||||||||||||
59 | Twizoo | Downing | London | Skyscanner | £1.7M | Undisclosed | NA | ML/ Publishing | 2013 | 2017 | 4 | |||||||||||||||
60 | Wercker | Notion Capital | Amsterdam | Oracle | $7.9M | Undisclosed | NA | DevTools | 2012 | 2017 | 5 | |||||||||||||||
61 | wywy | Cipio Partners | Munich | TVSquared | $10.1M | Undisclosed | NA | AdTech | 2012 | 2017 | 5 | |||||||||||||||
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81 | Company | Location | Exit Price | Year Exited | Founders | |||||||||||||||||||||
82 | AVG | Amsterdam | $1.3B | 2016 | Tomáš Hofer & Jan Gritzbach | |||||||||||||||||||||
83 | Cint | Stockholm | $107M | 2016 | https://www.linkedin.com/in/bomattsson/ | |||||||||||||||||||||
84 | WiseKey | Geneva | $230M | 2016 | https://www.linkedin.com/in/carloscreusmoreira/?locale=en_US | |||||||||||||||||||||
85 | Tobii AB | Stockholm | $244M | 2015 | https://www.linkedin.com/in/henrik-eskilsson-781849/ | |||||||||||||||||||||
86 | Fleetmatics | Dublin | $2B | 2016 | https://www.linkedin.com/in/peter-mitchell-5413874/ | |||||||||||||||||||||
87 | Teads | Montpellier | $300M | 2017 | https://www.linkedin.com/in/bertrand-quesada-86973b22/en/ | |||||||||||||||||||||
88 | Clear Score Technology | London | $385M | 2018 | http://www.basini.com/ - Justin Basini | |||||||||||||||||||||
89 | Datasift | London | $450M | 2018 | https://www.linkedin.com/in/nickhalstead/ | |||||||||||||||||||||
90 | BIME Analytics | Montpellier | $45M | 2015 | https://www.linkedin.com/in/wearecloudrachel/?originalSubdomain=fr | |||||||||||||||||||||
91 | Mimecast | London | $540M | 2015 | https://www.linkedin.com/in/petercbauer/ | |||||||||||||||||||||
92 | Hibernia Networks | Dublin | $590M | 2016 | https://www.linkedin.com/in/bjarnithorvardarson/ | |||||||||||||||||||||
93 | Rightware | Finland | $68M | 2016 | https://www.linkedin.com/in/terosarkkinen/?originalSubdomain=fi | |||||||||||||||||||||
94 | Trustly | Stockholm | $700M | 2018 | https://www.bloomberg.com/research/stocks/private/person.asp?personId=225357825&privcapId=172291721&previousCapId=172291721&previousTitle=Trustly%20Group%20AB | |||||||||||||||||||||
95 | Mirriad | London | $86M | 2017 | https://www.linkedin.com/in/mark-popkiewicz-b340021/ | |||||||||||||||||||||
96 | Cambridge Silcon Radio | Cambridge | $2B | NA | https://www.linkedin.com/in/graham-pink/ | |||||||||||||||||||||
97 | Moat | US | $800M | 2017 | https://www.linkedin.com/in/aniqrahman/ | William knows him - he's actively investing & he gets the US expansion in Europe being important | ||||||||||||||||||||
98 | CRITEO | France | $1.5B | NA | https://www.linkedin.com/in/jbrudelle/ | |||||||||||||||||||||
99 | Skyscanner | Edinburgh | $2B | 2016 | https://www.linkedin.com/in/garethjlwilliams/ | - Also interesting because of TripActions & Mark Logan should be able to intro | ||||||||||||||||||||
100 | Trivago | Germany | $450M | 2015 | http://www.monkfish-equity.com/ The founders have their own fund they invest out of - Again Tripactions makes this plausible |