15 Nov 2021
European venture capital thrived in 2020 despite the presence of a pandemic. In fact, VC deal value for the region set a new annual record of €42.8 billion, a noteworthy achievement given the macroeconomic damage delivered by the pandemic.For this list, we’re looking solely at VC-backed companies in France.
The top French companies with the highest venture valuations have a combined value of more than €9 billion. The 10 companies highlighted below operate across a variety of industries and verticals, including healthtech, insurtech and artificial intelligence. In recent years, France has seen record amounts of capital invested into its startups. The companies on this list are emblematic of the country’s overall boom in VC activity. In 2020, France was the third most active VC hub in Europe, behind the United Kingdom and Germany.
According to PitchBook, this is the list of companies in France with the highest venture valuations as of 18 February 2021:
Post valuation: €1.63 billion
Doctolib provides a subscription-based online medical appointment management service. The startup also offers its users a remote video consultation service and allows patients to receive digital prescriptions and to be billed online automatically. In March 2019, Doctolib joined the unicorn herd when it raised €150 million in a round led by General Atlantic. In 2020, the company raised another €130.5 million of venture funding.
Post valuation: €1.27 billion
Mirakl is a developer of a marketplace platform designed to plug directly into an e-commerce tech ecosystem. The company’s platform integrates with e-commerce websites, enabling organizations to manage product quality and facilitate business growth. Mirakl raised €253.38M of Series D venture funding in a deal led by Permira in September 2020.
Post valuation: €1.19 billion
Voodoo is an operator of a video game company that specializes in developing and publishing mobile games that are simple and easy to play. By collaborating with external studios and content creators, the company is able to provide mobile gamers with hyper-casual games that entertain and connect people. In August 2020, the company raised €413.71 million of venture funding from Tencent Holdings.
Post valuation: €1 billion
Chateau.com is an online wine, champagne and spirits retailer offering rare vintages from the best wineries in France and around the world. Founded in 2010 and based in Paris’ 11th arrondissement, the angel-backed company raised €200 million from Colombian-American billionaire financier and philanthropist Alejandro Santo Domingo in 2017.
Post valuation: €891.26 million
Paris-based Meero leverages AI to rapidly process digital imagery—including 360° VR photos and videos—for customers in over 100 countries. One of Europe’s most valuable AI startups, it recently raised €22.48 million, though specific details are undisclosed. In June 2019, the company raised €204.99 of Series C funding in a deal co-led by Eurazeo and Prime Ventures.
Post valuation: €811.39 million
Founded in 2016, Qonto provides banking services to SMEs and freelancers. Qonto raised €104 million of Series C venture funding—understood to be the largest VC round for a French fintech company to date—in January 2020 in a deal led by Tencent and DST Global.
Post valuation: €727.03 million
Back Market is an operator of an online refurbished goods marketplace created to promote the use and sale of refurbished products. The company's marketplace connects consumers, startups and small and medium enterprises with professional sellers to acquire certified and guaranteed electronic devices. The company raised €96.49 million of venture funding through a combination of debt and equity in May 2020.
Post valuation: €710.67 million
ContentSquare is a developer of a digital experience insights optimization platform designed to help businesses understand how users are interacting. The company raised €173.72 million through a combination of debt and Series D venture funding in a deal led by BlackRock Private Equity Partners in May 2020.
Post valuation: €573.49 million
ManoMano is an operator of an online marketplace for DIY and gardening products intended to connect people directly to home improvement and gardening merchants. The company raised €125.16 million of Series E venture funding in a deal led by Temasek Holdings in January 2020.
Post valuation: €486 million
Alan provides an online digital insurance platform that makes coverage, reimbursements and claims simple for users and medical professionals. The service gives users access to in-person appointments and video calls, too. The company raised €50 million of Series C funding in a deal led by Temasek Holdings in April 2020.
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