Unicorn Companies in Austria in 2024

• Valuation: $4.11B
• Industry: Financial Services
• Investors: Speedinvest, Valar Ventures, Uniqa Ventures
• Unicorn Milestone Date: 3/16/2021

About

Bitpanda is an Austrian fintech company founded in 2014 and headquartered in Vienna. It operates a digital investment platform that allows users to invest in cryptocurrencies, precious metals, stocks, and ETFs. Bitpanda became Austria's first unicorn in 2021 after reaching a valuation of over $4 billion.

Target Audience

Bitpanda targets retail investors, particularly those new to investing, who want an easy way to invest in digital assets and other financial products. Its user-friendly platform appeals to both novice and experienced investors across Europe.

Business Model

Bitpanda makes money primarily through spreads on transactions. When users buy or sell assets, there is a small difference between the market price and the price offered on Bitpanda. This spread is how Bitpanda generates revenue, rather than charging commissions. The company also offers premium features and services to generate additional revenue streams. By having a large user base (over 3 million users as of 2021), Bitpanda is able to profit from the volume of transactions despite tight spreads.

Key Offerings

• Cryptocurrency trading
• Precious metals investing
• Fractional stock and ETF trading
• Bitpanda Card (Visa debit card linked to digital assets)
• Bitpanda Savings plans
• Bitpanda Business (for corporate clients)
• White-label solutions for other financial institutions

Key Management

• Eric Demuth - CEO and Co-founder
• Paul Klanschek - Co-CEO and Co-founder
• Christian Trummer - CTO and Co-founder

Investment Timeline

• September 2020: $52 million Series A round
• March 2021: $170 million Series B round (achieving unicorn status)
• August 2021: $263 million Series C round (valuation reaches $4.1 billion)

• Valuation: $3.50B
• Industry: Consumer & Retail
• Investors: DN Capital, Left Lane Capital, Coatue Management
• Unicorn Milestone Date: 6/22/2021

About

GoStudent is an EdTech unicorn startup based in Vienna, Austria that provides online tutoring services. Founded in 2016, it has grown rapidly to become Europe's first EdTech unicorn and one of the world's leading online tutoring platforms. GoStudent connects students with qualified tutors for one-on-one video lessons across various subjects.

Target Audience

Primary and secondary school students (ages 6-19) and their parents seeking supplemental tutoring and academic support.

Business Model

GoStudent operates on a subscription-based model where parents purchase monthly tutoring packages for their children. The company takes a commission from tutors' earnings while providing the technology platform and matching service. Key aspects include:

• Paid memberships ranging from 6-24 months
• Weekly one-on-one online tutoring sessions
• Tutor chat for additional support between lessons
• AI and data-driven matching of students to ideal tutors
• Expansion into hybrid online/offline models through acquisitions
• Leveraging AI and VR technology to enhance learning experiences

Key Offerings

• One-on-one online tutoring across 30+ subjects
• Personalised learning plans
• Virtual classroom technology
• AI-powered study tools and content
• VR language learning platform (GoVR)
• Offline tutoring options (through acquisitions)

Key Management

• Felix Ohswald - Co-founder and CEO
• Gregor Müller - Co-founder and COO
• Laura Warnier - Chief Growth Officer
• Ivo Kolev - Chief Technical Officer
• Duncan McIntyre - Chief Finance Officer

Investment Timeline

• 2016: Founded
• 2019: €1.4 million seed funding
• 2020: €13.3 million Series A
• March 2021: €70 million Series B
• June 2021: €205 million Series C - Valued at €1.4 billion, achieving unicorn status
• January 2022: €300 million Series D - Valued at €3 billion
• August 2023: €86.7 million ($95 million) strategic funding round

• Valuation: $1B
• Industry: Financial Services
• Investors: DST Global, Sequoia Capital China, Tencent Holdings
• Unicorn Milestone Date: 3/25/2019

About

COPA-DATA is an Austrian unicorn startup specialising in industrial automation and digital transformation software. Founded by Thomas Punzenberger, the company is renowned for its flagship product, the zenon software platform, which is designed to enhance automation and data management across various industries. As one of the leading unicorn companies in Austria, COPA-DATA's solutions are vendor-independent and hardware-agnostic, making them versatile for different industrial environments.

Target Audience

COPA-DATA primarily targets industries that require advanced automation and data management solutions, including:

• Manufacturing
• Energy and Infrastructure
• Life Sciences and Pharmaceutical
• Food and Beverage
• Automotive

Business Model

COPA-DATA operates on a B2B (business-to-business) model, providing software solutions to industrial clients. The company generates revenue through:

• Software Licensing: Selling licenses for the zenon platform.
• Subscription Services: Offering ongoing support and updates through subscription models.
• Consulting and Customisation: Providing tailored solutions and consulting services to meet specific client needs.
• Training and Support: Offering training programs and technical support to ensure effective implementation and use of their software.

Key Offerings

• zenon Software Platform: A modular industrial software environment that includes:
  HMI (Human-Machine Interface)
  SCADA (Supervisory Control and Data Acquisition)
  Reporting and Alarming
  Data Analytics and Visualisation
  Simulation and Digital Forensics
• Energy and Infrastructure Solutions: Automation and control for power generation, transmission, and distribution.
• Life Sciences and Pharmaceutical Solutions: Ensuring data integrity and compliance in production.
• Food and Beverage Solutions: Automated, food-safe, and cost-effective production practices.
• Automotive Solutions: Smart and energy-efficient factory automation.

Key Management 

• Thomas Punzenberger: CEO and Founder

• Valuation: $1B
• Industry: Smart Home Solutions

About

Loxone is a smart home and building automation company founded in 2009 in Kollerschlag, Austria. While not officially recognised as a unicorn, Loxone has grown rapidly to become a market leader in the smart home industry. The company revolutionised the sector with its Miniserver, which serves as the central control unit for various smart home functions.

Target Audience

Loxone caters to both residential and commercial markets, including:

• Homeowners looking for comprehensive smart home solutions
• Businesses seeking building automation systems
• Hospitality sector (e.g., hotels, restaurants)
• Special applications (e.g., classic car storage facilities)
• Professional installers and integrators

Business Model

Loxone operates on a B2B2C (Business-to-Business-to-Consumer) model:

• Product Development: Loxone designs and manufactures smart home and building automation hardware and software.
• Partner Network: The company works with over 25,000 certified Loxone Partners (installers and integrators) worldwide.
• Sales Channels: Products are primarily sold through these partners, who install and configure Loxone systems for end-users.
• Recurring Revenue: Loxone likely generates additional income through software updates, cloud services, and support.
• Market Expansion: The company has established market organisations in various countries to cater to local needs and expand its global presence.
• Competence Centers: Loxone has created specialised business units (e.g., Loxone Smart Engineering GmbH, Baudisch Electronic GmbH) to focus on specific areas of product development.

Key Offerings

• Miniserver: The central control unit for Loxone systems.
• Smart home automation solutions.
• Building automation for commercial projects.
• Loxone Config: Software for system configuration.
• Loxone App: Mobile application for end-users.
• Various hardware components (sensors, switches, etc.).
• Cloud services and online tools.

Key Management

• Thomas Moser: Co-founder
• Martin Öller: Co-founder
• Rüdiger Keinberger: CEO

• Valuation: $1.8B
• Industry: Enterprise Tech
• Investors: Insight Partners, CIBC Innovation Banking
• Unicorn Milestone Date: 1/29/2017

About

Tricentis is a global leader in automated software testing and continuous testing. Founded in Vienna, Austria in 2007 and now headquartered in Austin, Texas, Tricentis has revolutionised how enterprise development teams approach quality engineering. As one of the notable unicorn companies in Austria, Tricentis' innovative solutions help organisations accelerate their digital transformation by dramatically increasing software release speed, reducing costs, and improving software quality.

Target Audience

Tricentis primarily serves enterprise-level development teams across various industries. Their solutions are designed for organisations looking to enhance their software testing processes, improve efficiency, and accelerate their software delivery pipelines.

Business Model

Tricentis operates on a Software-as-a-Service (SaaS) model, providing cloud-based software testing solutions to its clients. The company generates revenue through subscription-based licensing of its software products. This model allows customers to access Tricentis' suite of testing tools and services on a pay-as-you-go basis, offering flexibility and scalability. Additionally, Tricentis likely offers professional services, including training, implementation support, and consulting, to help clients maximise the value of their testing solutions.

Key Offerings

• Tricentis Tosca: A comprehensive continuous testing platform
• Tricentis qTest: Test management solution
• Tricentis LiveCompare: SAP testing acceleration tool
• Tricentis NeoLoad: Performance testing platform
• Tricentis Test Automation for Salesforce: Specialised testing for Salesforce applications

Key Management

• Franz Fuchsberger - Co-Founder & CSO
• Wolfgang Platz - Co-Founder & Managing Director

Investment Timeline

• December 2014: Undisclosed funding round.
• January 2017: $165 million Series B funding, led by Insight Partners.
• February 2022: Undisclosed funding round, with participation from Insight Partners and CIBC Innovation Banking.

• Valuation: $1B
• Industry: Automotive technology
• Investors: Aptiv, Audi, Infineon, Samsung, TTTech Computertechnik
• Unicorn Milestone Date: 02/03/2022

About

TTTech Auto is an Austrian technology company that provides software and hardware solutions for automated and autonomous driving. Founded in 2018, it specialises in developing safe and reliable platforms for software-defined vehicles, with a focus on safety-critical applications.

Target Audience

Automotive manufacturers (OEMs) and Tier 1 suppliers developing advanced driver assistance systems (ADAS) and autonomous driving technologies.

Business Model

TTTech Auto operates on a B2B model, providing software platforms, hardware solutions, and engineering services to automotive companies. Their main revenue streams likely come from licensing their software platforms (like MotionWise), selling hardware components, and offering integration and consulting services. The company's value proposition is centered around enabling faster time-to-market for automated driving projects while ensuring safety and reliability.

Key Offerings

• MotionWise: A safety software platform for automated driving.
• Zetta Auto: A unified solution for in-vehicle and V2X communication.
• Hardware products: Prototype and off-the-shelf ECUs for automotive applications.
• Engineering services: Software engineering, integration, and safety consulting.

Key Management

• Dirk Linzmeier: CEO
• Stefan Poledna: CTO

Investment Timeline:

• 2022: Raised $285 million from Aptiv and Audi, reaching unicorn status