Algomi included in 2016 Tech Tour Growth 50

21 March 2016 in AWARDS by Tim Binnington

Algomi has been recognised as one of Europe’s 50 High Growth Companies in the 2016 Tech Tour Growth 50.

Tech Tour announced its 2016 Tech Tour Growth 50 to shine a light on the next generation of Europe’s fastest growth tech businesses.

Over the past few months, Tech Tour, a platform that facilitates high-tech growth companies to develop strategic relations with investors, together with Silverpeak Investment Bank and in conjunction with a selection committee of international investors (many of which are Members of the International Venture Club) have researched and evaluated over 175 European private tech companies at a sub-one billion US dollar valuation.

The selection committee, chaired by Jean-Michel Deligny, Silverpeak, was composed of 18 international venture capital firms, advisers and experts including:Bank of America Merrill Lynch, Accel Partners, Highland Capital Partners Europe, Amadeus Capital Partners, DN Capital, Idinvest Partners, Earlybird and The World Economic Forum.

William Stevens, Managing Director, Tech Tour, commented "The billion dollar "unicorn" successes that grab our attention are just the tip of the iceberg. The Tech Tour Growth 50 puts the next layer of Europe’s high-tech, high-growth businesses in the limelight. The Tech Tour Growth 50 Companies have created over 8, 000 high-tech jobs, attracted over $3.5 billion of investment and have an estimated combined valuation of $14.2 billion. This is a clear demonstration of Europe’s strength, potential and competitiveness in scaling-up tech businesses."

The composition of the list has changed significantly from 2015 where almost 50% of the companies were defined as ‘B2C eCommerce’. This year that broad category only applies to just over 30% of the companies. Perhaps unsurprisingly Fin Tech companies, like in 2015, make a strong showing across both B2B and B2C sectors accounting for almost 20% of companies. B2B sectors cover manufacturing, software applications, security and the Internet of Things.

A common thread linking all the Tech Tour Growth 50 is their stellar growth rate, taking financing size and speed as a proxy for growth. From a median foundation date of 2008, companies took, on average just 1 year and ten months to achieve their first funding round at an average amount of $7.5 million, and hit their most recent funding round (average of 4 funding rounds in total) in 4 years 2 months after the first funding round at an average of $38.5 million. The pace of growth picked up considerably as companies matured with an average of just 16 months between later funding rounds.

Commenting on the selection process Jean-Michel Deligny, Managing Partner, Silverpeak Investment Banking explained "We combined the quantitative rigour of using multiple data sources for valuation, sales growth and financing with the qualitative insight of a selection committee of leading investors and advisers. As our remit is to look below the tip of the iceberg, this year we excluded European Unicorns and gave the selection committee more flexibility to nominate companies based on innovation, pedigree and past awards won. Given the quality of the selection committee and the rigour of the process The Tech Tour Growth 50 is fast becoming the reference tool for all those interested in up and coming European tech companies which so far have not had the exposure they warrant."

To read the full story on the Tech Tour website click here.

2016 Tech Tour 50 methodology Tech Tour 2016.pdf PDF 1.41 MB Download