Truffle Capital Announces the Results of the 16th Truffle 100 Ranking
In 2021, the software publishing sector will strengthen its key role in the French economy:
- On the whole, it has not been severely affected by the pandemic
- Subscription-based invoicing for SaaS services has protected it from economic shocks
- It continues to invest in research and development to prepare for the future
- It creates skilled jobs in France
- It aims to accelerate its international expansion in order to seek growth in the most dynamic geographic regions
- Finally, it is a powerful driver of productivity and competitiveness because it promotes the digitalization of the entire economy
PARIS–(BUSINESS WIRE)–Created by the private equity firm Truffle Capital and the research and consulting firm teknowlogy | CXP-PAC, the Truffle 100 2021 provides an overview of the French software industry by analyzing the activity of the top 100 companies in the sector during 2020.
- This period was marked by several notable highlights: with a +6.6% increase, the growth in activity in the sector reached record highs, i.e. €11.6 billion; however, a record number of companies (33%) posted a fall in revenue.
- For the first time since 2013, the difference between the 50th and the 100th publishers decreased; but with 35% of the sector’s revenue in 2020, the weighting of the company in first place continues to grow (+2 pts in 2020)
The Truffle 100 clearly shows that the anticipated market shock has not affected the whole software industry. Nevertheless, the companies have put forward a shared vision of the future of the market.
- The cloud is now considered by 92% of companies as the trend that will provide momentum in the sector over the coming years. This new trend, driven by the crisis, recorded a growth of +16 pts compared to the ranking published in 2020.
- In light of this situation, three-quarters of the companies plan to increase their workforce, and three-quarters also plan to ramp up their R&D projects.
Commenting on this 16th edition of Truffle 100, Cédric Ô, French Secretary of State for the Digital Economy, concluded: “In similar fashion to previous years, the development of the sector has been achieved by the long-standing efforts of its stakeholders and their capacity to anticipate the major technological breakthroughs which are, in the digital industry, more frequent and clearer to distinguish than in other industries“.
Bernard-Louis Roques, Managing Director and co-founder of Truffle Capital declared: “At a time when the ability to respond to events and the management of expertise proved vital, the French software industry played a civic role and created jobs on the domestic market”.
Nadia Idrissi, Chairwoman of teknowlogy | CXP-PAC, added: “Highly topical themes such as the cloud, cybersecurity and the remote workplace have driven the market and allowed the majority of publishers, who are – on the whole – well prepared, to deliver revenue growth. […] Companies using software solutions are picking up the pace of this forced march towards major digital transformation investments, and this also applies to industrial processes“.
The 16th edition of the Truffle 100 is available on the following website: https://www.truffle100.fr/
About Truffle Capital
Founded in 2001, Truffle Capital is an independent European venture capital company, specializing in life sciences (MedTech and Biotech) and breakthrough technologies in the IT sectors (FinTech and InsurTech). Truffle Capital’s mission is to support the creation and development of young innovative companies capable of becoming tomorrow’s leaders. The company is chaired by Patrick Kron and managed by Dr Philippe Pouletty and Bernard-Louis Roques, co-founders and General Managers. Truffle Capital manages €700 million in assets. Since its creation, it has raised nearly €1.1 billion and has supported over 75 companies in the digital technology and life sciences sectors. In 2019, Truffle Capital announced it had raised nearly €400 million in new institutional funds, including €140 million in Fintech/Insurtech.
Further information: www.truffle.com— Twitter: @trufflecapital
About teknowlogy Group
teknowlogy | CXP-PAC teknowlogy | CXP-PAC is the leading European independent analysis and consulting firm in the field of software, IT services and digital transformation. As a privileged partner of European user companies, it offers them assistance in defining their digital strategy, managing projects and reducing the risks linked to technological choices and their implementation.
Owing to its knowledge of market trends and user-company expectations, teknowlogy | CXP-PAC helps software publishers and ESNs to better establish, execute and promote their own strategy in line with market expectations and in anticipation of future needs.
Capitalizing on more than 40 years of experience, teknowlogy | CXP-PAC has a network of 50 experts based in Paris, Munich, Bucharest, and London.
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