Observed Signal · Aug 27, 2025 · Report Release · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Dealroom Report: Thoroughbreds Power 27% of EMEA's $5.6T Tech Ecosystem
Dealroom published its inaugural Thoroughbreds 100 report, ranking 100 high-momentum EMEA tech scaleups with revenues above $100 million. The report extends the startup taxonomy beyond unicorns to include Thoroughbreds and Colts ($25–100 million revenue). Thoroughbreds now account for 27% of EMEA's $5.6 trillion tech ecosystem and generated $168 billion in combined revenue, supporting 367,000 jobs. The UK leads with 22 companies, followed by Germany with 17; fintech, enterprise software, and health/biotech dominate. The report also highlights an estimated $57 billion scaleup funding gap versus the Bay Area, naming Phoenix Court as Europe's top investor ahead of Index Ventures and Point Nine. Dealroom CEO Yoram Wijngaarde and Phoenix Court's Saul Klein call for stronger late-stage European capital to retain and compound local value.
Provides a data-driven overview of EMEA's high-growth tech scaleups and highlights a significant late-stage funding gap, relevant for investors and tech ecosystem observers but not an industry-shifting event for AdTech specifically.
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Key Takeaways & Evidence Grounding
- Dealroom released its inaugural Thoroughbreds 100 report on 27 August 2025.
- Thoroughbreds account for 27% of EMEA's $5.6 trillion tech ecosystem.
- The 100 companies generated $168 billion in combined revenue and 367,000 jobs in the past year.
- The UK leads with 22 Thoroughbreds, followed by Germany with 17.
- Dealroom estimates a $57 billion scaleup funding gap for EMEA compared to the Bay Area.
Connected Companies & Entities
16 Entities mapped“VC data provider Dealroom released its inaugural Thoroughbreds 100 report....”
“Index Ventures secured second overall in the global top 20....”
“Point Nine, the Germany-based Seed investor, achieved third position....”
“The list is led by Y Combinator and Sequoia....”
“The list is led by Y Combinator and Sequoia....”
“Fintech (30 companies) – including Revolut (UK), Wise (UK), and Trade Republic (Germany)....”
“Fintech (30 companies) – including Revolut (UK), Wise (UK), and Trade Republic (Germany)....”
“Fintech (30 companies) – including Revolut (UK), Wise (UK), and Trade Republic (Germany)....”
“Seven of Europe's 10 most valuable tech companies founded after 1990 originated from this ecosystem, including Booking.com, ASML, Adyen, Arm...”
“Seven of Europe's 10 most valuable tech companies founded after 1990 originated from this ecosystem, including Booking.com, ASML, Adyen, Arm...”
“Enterprise Software (25 companies) – including Mistral AI (France) and Bending Spoons (Italy)....”
“Seven of Europe's 10 most valuable tech companies founded after 1990 originated from this ecosystem, including Booking.com, ASML, Adyen, Arm...”
“Seven of Europe's 10 most valuable tech companies founded after 1990 originated from this ecosystem, including Booking.com, ASML, Adyen, Arm...”
“Seven of Europe's 10 most valuable tech companies founded after 1990 originated from this ecosystem, including Booking.com, ASML, Adyen, Arm...”
“Enterprise Software (25 companies) – including Mistral AI (France) and Bending Spoons (Italy)....”
“Health & Biotech (14 companies) – including Alan (France) and Flo Health (UK)....”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Delivery Hero Alumni Build 150 Startups Worth €7.5B
A new analysis by Dealroom.co reveals that alumni of Delivery Hero and its European brands have founded 150 startups with a combined enterprise value of €7.5 billion, employing 11,000 people and raising €4.4 billion in venture capital. This makes Delivery Hero Europe's largest founder factory by VC raised and number of startups founded. The report highlights Germany's central role, with Berlin-based startups accounting for €4.9 billion of the total value and 42 startups from Delivery Hero's Berlin HQ alone. Alumni-founded companies span food, enterprise software, health, and transportation, with strong funding progression. Delivery Hero alumni have also spawned second-generation startups and moved into venture capital, raising €7.3 billion in new funds since 2020.
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