Unicorn Companies in Czech Republic in 2024
The Czech Republic is becoming an important place for startups in Europe. This Central European country is known for its new ideas and entrepreneurial spirit. In the late 2010s and early 2020s, it started producing unicorns—startups worth over $1 billion. By 2024, the Czech Republic has four unicorns in different fields like e-commerce, product management, hospitality tech, and developer tools.
Investments in Czech startups have grown a lot, with $1.7 billion raised in the last two years, showing that investors have confidence in them. Companies like Rohlik are expanding internationally, and big tech companies like Microsoft and Apple are interested in the local talent. The government is also helping with initiatives like a €55 million fund to support venture capitalists and an AI regulatory sandbox.
Read on to learn about unicorn companies in the Czech Republic and what makes the country's startup scene so successful.
Rundown
S.No |
Name |
Valuation |
Date Joined |
City |
Industry |
|---|---|---|---|---|---|
1 |
Rohlik Group |
$1.20B |
2021-07-01 |
Prague |
Consumer & Retail |
2 |
Productboard |
$1.75B |
2022-02-03 |
Prague |
Product Management Software |
3 |
Mews |
$1.2B |
2022-02-29 |
Prague |
Hospitality Technology |
4 |
JetBrains |
$7B |
2020 |
Prague |
Software Development Tools |
List of unicorn companies in Czech Republic
Rohlik Group
- Valuation: $1.20B
- Industry: Consumer & Retail
- Investors: Partech Partners, Index Ventures, Quadrille Capital
- Unicorn Milestone Date: 07/01/2021
About
Rohlik Group is a leading European e-grocery retailer, founded in 2014 by Tomáš Čupr in Prague, Czech Republic. As one of the prominent Unicorn Companies in Czech Republic, the company has revolutionised the online grocery industry with its fast and precise delivery service, offering a vast assortment of over 17,000 items. Rohlik Group has expanded its operations to multiple European countries, including Hungary, Austria, Germany, and Romania, and achieved unicorn status in 2021.
Target Audience
Rohlik Group primarily targets affluent urban customers who value convenience, a wide assortment of high-quality groceries, and fast delivery services. The company's focus is on fulfilling the varied daily and weekly needs of families in Europe.
Business Model
Rohlik Group operates on a technology-driven business model that emphasizes customer convenience and sustainability. Key elements include:
- Fast Delivery: Orders are delivered within 60 minutes or within 15-minute same-day time windows.
- Large Assortment: Over 17,000 items, including private brands, locally sourced goods, and international brands.
- Sustainability: Use of electric vehicles, reusable packaging, and support for local farmers.
- Technology: Proprietary software for demand forecasting, fulfillment operations, and real-time customer communication.
- Customer-Centric Approach: High Net Promoter Score (NPS) of 70% across all countries, indicating strong customer satisfaction.
Key Offerings
- Private Brands: High-quality, well-priced products under various private labels like Moddia, Pappudia, Dacello, Fjoru, Miil, Ubomi, Sutcha, and Yutto.
- Locally Sourced Goods: Fresh produce and products from small local farmers and producers.
- International Brands: A wide range of top international brands
- Sustainable Practices: Electric delivery vehicles, reusable packaging, and eco-friendly initiatives.
Key Management
- Tomáš Čupr: Founder and CEO
Investment Timeline
- 2021: Achieved unicorn status with a valuation of over $1 billion after raising €100 million.
- 2022: Secured €220 million in Series D funding.
- 2023: Achieved €700 million in revenues with 25% growth and profitability.
- 2024: Raised €160 million to expand its presence in DACH and CEE markets, targeting revenues of over €1 billion.
Productboard
- Valuation: $1.75B
- Industry: Product Management Software
- Investors: Tiger Global Management, Dragoneer Investment Group, Bessemer Venture Partners, Index Ventures, Kleiner Perkins, Sequoia Capital, Credo Ventures, Rockaway Capital
- Unicorn Milestone Date: 02/03/2022
About
Productboard is a product management software platform founded in 2014 by Hubert Palan and Daniel Hejl. As one of the Unicorn Companies in Czech Republic, the company helps product teams prioritize their roadmap, gather customer feedback, and collaborate on product decisions. Productboard's mission is to assist companies in building better digital products that people want to use and enjoy.
Target Audience
Product managers and teams within tech companies, ranging from startups to large enterprises, including companies like Microsoft, Zoom, Disney, and over 5,400 other clients.
Business Model
Productboard operates on a subscription-based SaaS model. Clients pay recurring fees to access the platform, with pricing tiers varying based on the number of users and required features. The company generates revenue through these subscriptions, offering different plans to cater to various business needs.
Key Offerings
- Product roadmap management
- Idea and feedback management
- User persona creation
- Analytics and reporting tools
- Integration with tools like Jira, Trello, and Slack
- AI-powered features for analyzing customer feedback and trends
Key Management
- Hubert Palan: Co-founder and CEO
- Daniel Hejl: Co-founder
Mews
- Valuation: $1.2B
- Industry: Hospitality Technology
- Investors: Kinnevik, Goldman Sachs Asset Management, Notion Capital, Revaia, LGVP
- Unicorn Milestone Date: 02/29/2024
About
Mews is a Prague-based startup that provides a cloud-based property management system designed for the hospitality industry. Founded in 2012 by Richard Valtr and Matthijs Welle, Mews aims to modernise and streamline hotel operations, enhancing both efficiency and guest experiences. The platform is used by over 5,000 hospitality brands in 85 countries and has processed billions of dollars in transactions through its Mews Payments system.
Target Audience
- Hotels
- Hostels
- Apartments
- Other accommodation providers
Business Model
Mews operates on a Software as a Service (SaaS) model, offering a subscription-based cloud platform that integrates various aspects of hotel management. This includes reservations, check-ins, payment processing, and guest services. The platform eliminates the need for expensive hardware and software licenses, reducing operational costs and improving efficiency. Mews also focuses on continuous innovation and strategic acquisitions to expand its offerings and market reach.
Key Offerings
- Property Management System (PMS)
- Booking Engine
- Payment Processing Tools
- Integration with Hospitality Applications
- Self-Service Options for Guests
- Automated Workflows
- Personalized Guest Journeys
Key Management
- Richard Valtr - Founder
- Matthijs Welle - Co-Founder
Investment Timeline
- Series C: $185 million in late 2022
- Latest Funding: $110 million in February 2024
JetBrains
- Valuation: $7B
- Industry: Software Development Tools
- Investors: Self-funded (no external venture capital)
- Unicorn Milestone Date: 2020
About
JetBrains is a global software company founded in 2000 in Prague, Czech Republic. It specializes in creating intelligent, productivity-enhancing tools for software developers and teams. The company has grown organically without external funding and now employs over 1,800 people across 12 offices globally.
Target Audience
Software developers, development teams, and organizations involved in software creation across various programming languages and platforms
Business Model
JetBrains operates on a subscription-based model, offering both individual and team licenses for its suite of development tools. The company has achieved significant growth through its high-quality products, strong brand reputation, and loyal customer base. JetBrains' success is built on continuous innovation, expanding its product portfolio, and maintaining a deep understanding of developer needs.
Key Offerings
- Integrated Development Environments (IDEs) for various programming languages
- Code quality and productivity tools
- Team collaboration solutions
- Educational products for learning programming
- The Kotlin programming language
Key Management
- Founders: Eugene Belyaev, Sergey Dmitriev, Valentin Kipiatkov
- CEO: Maxim Shafirov
