Europe is home to over 128 000 innovative and diverse technology startups. Although Silicon Valley is generally dominating the tech startup scene, the continent is making ground, with more than 115 VC-backed companies valued at over $1 billion. We researched European tech startups 2021 and what steps they have taken to build strong brands and a solid online presence. Here are the results!
The European tech scene is growing faster than almost anywhere else in the world.Emma Davies, co-CEO at Octopus Ventures for EU Startups
Despite the pandemic, the European tech market continued to grow in 2020, as venture capital, private equity, and the public markets continued to invest in the startups from the region, creating more M&A opportunities.
State of European Tech report produced by Atomico shows that 2019 ended with $38.6 billion of capital invested and $16 billion closed by European venture capital funds. Total investment reached $41 billion in 2020, driven by an increase in $100-250 million funding rounds, making 2020 the highest year on record for investment in the European tech economy. US investors participated in a record number of rounds.
An observation of the Silicon Valley Bank (‘SVB’) shows that while the United Kingdom leads the way in terms of activity, tech hubs are sprouting up throughout Europe, with Amsterdam, Paris, and Stockholm standing out.
Interestingly, for five consecutive years (2014 to 2019), Europe has produced more tech IPOs than the US.
Looking past the opening day headlines, it’s notable that Europe’s 2019 crop of IPOs, large and small, have delivered returns for their investors which exceed their US contemporaries.James Clark, London Stock Exchange, Head of Tech and Lifesciences, Primary Markets for Atomico
In response to the COVID-19 recession, many European governments launched specialized tech sector packages suited to startups that were often ineligible for other government loan and assistance programs. The support schemes included various financial instruments as direct loans,co-investments fund-of-funds, accelerated tax credits, and R&D grants. France topped the list with $5.2 billion directed to support domestic startups with over $1.2 million ( €1 million) funding with an average of $3.5 million (€3million) support per $1.2 million+ funded startup.
Mckinsey and Company’s recent study observed that more than half of Europe’s top tech startups focus on Biotech and Healthcare, Fintech, and B2B Saas. It further points that the researched companies pursue four strategic paths (network, scale, product, and deep tech) to succeed. Our research among the European tech startups (listed below) shows that the companies have taken a severe approach in building a solid brand and securing their digital presence, with 142 out of 197 startups operating on an exact brand match domain names.
A good brand name combined with an exact match .com domain name results in more direct traffic, more cost-effective advertising, more opportunities for development and growth, more trust from business partners and investors, and more credibility in your market.
UK-based startup Hopin is an online events platform that hosts virtual events such as significant international conferences, large-scale tech events, etc. The Company has recently raised $450 million in a Series D funding round. Seventeen months from its foundation Hopin set the record for Europe’s fastest ever Company to hit a billion-dollar valuation. The Company launched Hopin.to domain; they have since upgraded to Hopin.com. You can read more about this domain upgrade here.
Rapyd provides an API-based “fintech-as-a-service” platform covering payments, banking services, fraud protection, and more. They have raised a total of $470M in funding and own both Rapyd.net and Rapyd.com.
CoachHub is a digital coaching platform that uses AI to match people to business coaches and enables personalized coaching for employees at all career levels. The startup has recently raised $80 million in a Series B2 funding round. Coachhub owns both Coachhub.io and Coachub.com domains.
VOI is a micro-mobility startup that owns, operates, and manages electric scooters for urban commuters. Voi has raised a total of $400.6M in funding over eight rounds. Their latest funding was from a Series C round. VOI owns VoiScooters.com and Voi.com.
ironSource is a business platform for mobile content creators. The startup has raised a total of $1.9 billion in funding over five rounds. Their latest funding was raised in June 2021 from a Post-IPO Equity round. ironSource is operating on the premium two letters IS.com domain name. There are only 676 two letter .com domain names in existence, making them extremely rare and valuable.
AUTO1 Group is an online automotive platform connecting buyers and sellers of cars throughout Europe. The startup has achieved Unicorn status with $1.4 billion raised in funding over ten rounds. AUTO1 Group owns both auto1-group.com and auto1.com
163 out of 197 companies have chosen the .com extension, with 142 operating on the exact brand match domain name. 5 companies use .co domain name, and 4 have decided to include a dash in their name. 7 companies own multiple domain names. Owning multiple domain names can improve SEO, and it’s also a way to direct traffic to your primary domain name and avoid traffic and email leaks.
|domain extension||number of brands|
And here is a visual representation of the data above.
When it comes to choosing a domain name that exactly matches the brand name, these are the choices made by European entrepreneurs.
Dashes are often used when the brand can’t secure the exact brand match name or as additional domains. Only four of the listed startups use a dash in their domain name.
|thg.com||The Hut Group||yes|