Unicorn Companies in France in 2024

Exotec

• Valuation: $2B
• Industry: Industrials
• Investors: Breega Capital, Iris Capital, 360 Capital Partners
• Unicorn Milestone Date: 1/17/2022

About

Exotec is a French robotics company founded in 2015 that specialises in warehouse automation solutions. It achieved unicorn status in January 2022 after raising $335 million in Series D funding at a $2 billion valuation. As one of the prominent unicorn companies in France, Exotec's flagship product is the Skypod system, which uses autonomous robots to optimise storage and order fulfilment in warehouses. The company has grown rapidly, tripling its revenue since 2020 and expanding globally with offices in France, Germany, the United States, and Japan.

Target Audience

Exotec's solutions are aimed at large retailers, e-commerce companies, third-party logistics providers, and industrial manufacturers looking to improve efficiency and scalability in their warehouse operations.

Business Model

Exotec operates on a robotics-as-a-service (RaaS) model, providing both hardware and software solutions to its clients. The company designs, manufactures, and installs its robotic systems in customer warehouses, then charges for ongoing usage, maintenance, and software updates. This model allows customers to benefit from warehouse automation without large upfront capital expenditures. Exotec also emphasises flexibility and scalability, allowing clients to easily expand their systems as their needs grow. The company generates revenue through initial system installations, recurring service fees, and additional robot deployments as customers scale up.

Key Offerings

• Skypod System: Autonomous robots that can move in three dimensions to retrieve inventory from high-density storage
• Skypicker: Robotic arm for precise item picking
• Skypath: Mobile conveyor system for efficient item transport
• ExoCloud: Software platform for warehouse management and robot coordination

Key Management

• Romain Moulin: Co-founder and CEO
• Renaud Heitz: Co-founder and CTO

Investment Timeline

• 2016: €3.3 million seed round
• 2018: €15 million Series B
• 2020: €90 million Series C
• 2022: $335 million Series D

Ynsect

• Valuation: $1B
• Industry: Industrials
• Investors: Astanor Ventures, Upfront Ventures, IDInvest Partners
• Unicorn Milestone Date: 2/21/2019

About

Ynsect is a French climate tech startup founded in 2011 that has revolutionised the insect farming industry. Based in Evry, France, Ynsect has become the world's largest insect farming company, focusing on sustainable protein production for animal feed, pet food, and fertilizers. The company has achieved unicorn status, being considered the first climate tech unicorn from France, with a valuation exceeding $1 billion.

Target Audience

Ynsect's products cater to various sectors within the agriculture and food industries, including:

• Livestock farmers
• Pet food manufacturers
• Plant and crop growers
• Aquaculture industry

Business Model

Ynsect's business model revolves around vertical insect farming, primarily focusing on mealworms. The company has developed proprietary technology for large-scale insect breeding and processing. Their approach includes:

• Vertical Farming: Ynsect utilises vertical farming techniques to maximise production efficiency and minimise land use.
• Sustainable Production: The company emphasizes environmentally friendly practices, aligning with the growing demand for sustainable food alternatives.
• Multiple Revenue Streams: Ynsect generates income by selling insect-based products for various applications, including animal feed, pet food, and fertilizers.
• Research and Development: Continuous investment in R&D to improve farming techniques and develop new products.
• Partnerships: Collaborations with industry players and research institutions to expand market reach and enhance product offerings.

Key Offerings

• ŸnMeal: High-protein animal feed for aquaculture and livestock
• ŸnFrass: Organic fertiliser for plants and crops
• ŸnOil: Insect oil for various industrial applications
• Pet food ingredients (recently approved for dog food in the United States)

Key Management

• Antoine Hubert: Co-founder and CEO

Veepee

• Valuation: $1.38B
• Industry: Consumer & Retail
• Investors: Summit Partners, Qatar Holding
• Unicorn Milestone Date: 07/02/2007

About

Veepee, formerly known as Vente-Privee, is a French e-commerce company headquartered in La Plaine Saint-Denis, France. Founded in 2001 by Jacques-Antoine Granjon, it specialises in flash sales, which are limited-time sales events offering significant discounts on a wide range of products. As one of the leading unicorn companies in France, Veepee has grown into a unicorn, valued at over $1 billion USD, and operates in multiple European countries, including France, Spain, Italy, and Germany.

Target Audience

Veepee primarily targets:

• Fashion-conscious consumers looking for high-end brands at discounted prices.
• Bargain hunters who enjoy the thrill of flash sales and limited-time offers.
• Travel enthusiasts seeking exclusive travel deals.
• Home and lifestyle shoppers interested in premium home goods and electronics.
• Entertainment seekers looking for event tickets and unique experiences.

Business Model

Veepee's business model revolves around organising flash sales, which are:

• Time-limited: Sales typically last between 3 to 5 days.
• Exclusive: Available only to registered members, creating a sense of exclusivity and urgency.
• Discounted: Products are offered at significant discounts, often ranging from 50% to 70% off retail prices.
• Diverse: Sales cover a wide range of categories, including fashion, home goods, electronics, travel, and entertainment.

Key Offerings

• Fashion: Clothes, accessories, shoes, and lingerie.
• Home: Furniture, lighting, household linen, and tableware.
• Travel: Exclusive travel deals, including flights, hotels, and vacation packages.
• Electronics: Consumer electronics and gadgets.
• Entertainment: Event tickets, concerts, and cultural productions.

Key Management

• Jacques-Antoine Granjon: Founder and CEO.
• Michael Benabou: Co-founder.

Swile

• Valuation: $1B
• Industry: Enterprise Tech
• Investors: Index Ventures, IDInvest Partners, Daphni
• Unicorn Milestone Date: 10/11/2021

About

Swile is a French fintech unicorn founded in 2018 by Loïc Soubeyrand in Montpellier. The company aims to create a more fulfilling work environment by providing digital solutions for employee benefits and engagement. As one of the emerging unicorn companies in France, Swile's flagship product is an all-in-one payment card that combines various employee benefits, such as meal vouchers, gift vouchers, and mobility benefits.

Target Audience

Swile primarily targets companies of all sizes, from small businesses to large corporations, seeking to enhance their employee benefits and engagement programs. Their solutions cater to both employers and employees, with a focus on simplifying the management and use of corporate benefits.

Business Model

Swile operates on a B2B2C model, offering its services to companies who then provide the benefits to their employees. The company generates revenue through subscription fees from corporate clients and transaction fees from merchants accepting Swile payments. Swile's business model is characterised by low churn rates and high company penetration, as it becomes an integral part of employee benefit systems.

Key Offerings

• Swile Card: An all-in-one smartcard for managing employee benefits (meal vouchers, gift vouchers, mobility benefits)
• Swile App: A mobile application for employee engagement, team building, and benefit management
• Business travel booking solution
• Employee engagement surveys and analytics tools

Key Management

• Loïc Soubeyrand: Founder and CEO

Investment Timeline

• 2018: €15 million (seed/series A)
• 2019: €30 million (series B)
• 2020: €70 million (series C)
• 2021: €175 million (series D), reaching unicorn status with a valuation of over $1 billion

Doctolib

• Valuation: $6.40B
• Industry: Healthcare & Life Sciences
• Investors: BPI France, Kerala Ventures, Accel
• Unicorn Milestone Date: 3/19/2019

About

Doctolib is a leading digital health technology company based in Paris, France. Founded in 2013, it has become one of France's most valuable unicorn startups, valued at €5.8 billion as of March 2022. Doctolib provides an online platform that simplifies healthcare access by connecting patients with healthcare professionals for appointment booking, telemedicine consultations, and practice management solutions.

Target Audience

Doctolib serves two main groups:

• Healthcare professionals: Doctors, dentists, and other medical practitioners seeking to streamline their practice management and patient interactions.
• Patients: Individuals looking for easy access to healthcare services, including appointment booking and telemedicine consultations.

Business Model

Doctolib operates on a subscription-based model, primarily generating revenue from healthcare professionals. The company offers various services through monthly subscription fees:

• Doctolib Patient: A booking management system priced at €139 per month (approximately €1,700 per year).
• Doctolib Médecin: An Electronic Health Record (EHR) system costing €1,600 per year.
• Doctolib Telemedicine: A telemedicine solution priced at €900 per year.
• Doctolib Reader: A card reader service for €300 per year.

Key Offerings

• Online appointment booking system
• Telemedicine consultation platform
• Electronic Health Record (EHR) management
• Practice management solutions
• Secure messaging system for healthcare professionals
• Patient management services
• Administrative task support for clinical care
• Financial tools for healthcare practices

Key Management

• Stanislas Niox-Chateau: Co-founder and CEO
• Jessy Bernal: Co-founder
• Ivan Schneider: Co-founder
• Steve Abou-Rjeily: Co-founder

Investment Timeline

• November 2014: Series A - $4.9 million
• October 2015: Series B - $20 million
• January 2017: Series C - $28 million
• November 2017: Series D - $42 million
• March 2022: Equity and Debt funding - $549 million

Back Market

• Valuation: $5.70B
• Industry: Consumer & Retail
• Investors: Aglae Ventures, Eurazeo, Daphni
• Unicorn Milestone Date: 5/18/2021

About

Back Market is a French startup founded in 2014 that operates an online marketplace for refurbished electronic devices. The company aims to make refurbished electronics mainstream by providing a platform where vetted vendors can sell high-quality, renewed devices. As one of the prominent unicorn companies in France, Back Market ensures the quality of these devices through rigorous vetting processes and continuous quality control, offering a one-year warranty on all items sold. The company has become France's most valuable private, VC-backed startup, with a valuation of $5.7 billion as of 2022.

Target Audience

Back Market primarily targets environmentally conscious consumers who are looking for affordable, high-quality electronic devices. These consumers are interested in reducing electronic waste and prefer sustainable consumption practices. The platform also appeals to budget-conscious individuals seeking cost-effective alternatives to new gadgets.

Business Model

Back Market's business model revolves around creating a trusted marketplace for refurbished electronics. Here are the key aspects:

• Value Proposition: The platform offers a wide range of refurbished electronic devices, ensuring quality and reliability through stringent vetting and continuous quality checks. This helps build consumer trust in refurbished products.
• Value Creation & Delivery: Back Market operates in multiple countries and hosts over 1,000 sellers. Sellers must undergo a review process to be certified with the "Back Label," which allows them to trade on the platform.
• Value Capture: The company generates revenue by charging a 10% commission fee on each sale and a monthly fee of €50 to sellers.

Key Offerings

• Refurbished smartphone
• Laptops and computers
• Tablets
• Home appliances
• Audio and video equipment
• Gaming consoles

Key Management

• Thibaud Hug de Larauze: CEO and Co-founder
• Vianney Vaute: Co-founder
• Quentin Le Brouster: Co-founder

Investment Timeline

• May 2021: Raised $335 million
• January 2022: Raised $510 million, reaching a valuation of $5.7 billion
• 2023: Initiated early preparations for an IPO

ContentSquare

• Valuation: $5.60B
• Industry: Enterprise Tech
• Investors: Highland Europe, Eurazeo, Canaan Partners
• Unicorn Milestone Date: 5/25/2021

About

ContentSquare is a French unicorn startup founded in 2012 that provides digital experience analytics solutions. The company's AI-powered platform helps businesses understand and optimise customer interactions on websites, mobile apps, and other digital platforms. ContentSquare uses advanced analytics, heatmaps, and machine learning to provide actionable insights into user behavior, enabling companies to improve their digital experiences and drive conversions.

Target Audience

ContentSquare primarily targets large enterprises and brands across various industries, including retail, e-commerce, travel, finance, and media. Their solutions are particularly valuable for companies with significant digital presence and those looking to optimise their online customer experiences.

Business Model

ContentSquare operates on a Software-as-a-Service (SaaS) model. They offer their digital experience analytics platform on a subscription basis, with pricing typically based on the volume of data analysed and the specific features utilised. The company's revenue comes from:

• Subscription fees for access to their analytics platform
• Professional services and consulting for implementation and optimisation
• Upselling additional features and capabilities to existing customers
• Strategic partnerships with other technology providers and agencies

Key Offerings

• Digital Experience Analytics Platform
• Zone-based Heatmaps
• Session Replay
• Journey Analysis
• AI Insights
• A/B Testing Integration
• Mobile App Analytics
• Accessibility Insights
• Performance Analytics
• API and Integrations

Key Management

• Jonathan Cherki - Founder and CEO

Investment Timeline

• 2016: $20 million Series B led by Highland Europe
• 2018: $42 million Series C led by Canaan Partners
• 2019: $60 million Series D led by Eurazeo
• 2020: $190 million Series E led by BlackRock
• 2021: $500 million Series F led by SoftBank Vision Fund 2, valuing the company at $2.8 billion
• 2022: $600 million in Series F equity and debt financing, bringing total funding to $1.4 billion and valuation to $5.6 billion

Qonto

• Valuation: $5B
• Industry: Enterprise Tech
• Investors: Alven Capital, Valar Ventures, Tencent Holdings
• Unicorn Milestone Date: 01/11/2022

About

Qonto is a Paris-based fintech startup that provides an all-in-one online banking platform tailored for small and medium-sized enterprises (SMEs) and freelancers. Founded in 2016, Qonto has quickly risen to prominence in the European fintech space, achieving unicorn status with a valuation of €4.4 billion following a significant funding round in early 2022. As one of the notable unicorn companies in France, the platform offers a comprehensive suite of financial services designed to simplify business finances, including payment processing, expense management, and bookkeeping.

Target Audience

Qonto primarily targets:

• Small and medium-sized enterprises (SMEs)
• Freelancers
• Startups
• Associations

Business Model

Qonto operates on a subscription-based business model, offering various pricing plans to suit different business needs. This model allows businesses to start with basic services and scale up as their needs grow. The subscription plans provide access to a range of financial tools and services, including business accounts, payment cards, expense management, and bookkeeping integrations. Qonto generates revenue through these subscription fees and potentially through transaction fees and partnerships with other financial service providers.

Key Offerings

• Business Accounts & Cards: Local IBANs, free Mastercards, instant and international transfers, and financing solutions.
• Invoice Management: Centralised invoicing and payment processing in multiple currencies.
• Expense & Spend Management: Tools to control and monitor team expenses with automated receipt reminders.
• Bookkeeping & Cash Flow: Real-time cash flow insights, auto receipt matching, and integrations with accounting software.
• Payment Cards: Customisable payment cards for various business needs, including physical, virtual, and one-time cards.
• International Transfers: Send and receive funds in 24 currencies across 130+ countries.
• Customer Support: Priority support available seven days a week in multiple languages.

Key Management

• Alexandre Prot: Co-founder and CEO
• Steve Anavi: Co-founder and President

Investment Timeline

• 2020: Raised one of the largest funding rounds for a French fintech
• 2022: Secured €486 million in a Series D funding round, achieving a valuation of €4.4 billion

Sorare

• Valuation: $4.30B
• Industry: Media & Entertainment
• Investors: Benchmark, Accel, SoftBank Group
• Unicorn Milestone Date: 9/21/2021

About

Sorare is a French unicorn startup founded in 2018 by Nicolas Julia and Adrien Montfort. It operates a global fantasy sports platform where users can buy, sell, trade, and manage virtual teams using digital player cards that are tokenised as non-fungible tokens (NFTs) on the Ethereum blockchain. The platform combines elements of fantasy sports, trading cards, and blockchain technology, allowing players to participate in fantasy leagues and win rewards based on real-world sports performance.

Target Audience

• Football Fans: Individuals passionate about football and fantasy sports.
• Collectors: Users interested in collecting digital football player cards.
• Gamers: Individuals who enjoy fantasy football gameplay.

Business Model

Sorare’s business model revolves around the issuance and sale of officially licensed digital player cards, which are NFTs. These cards can be bought, sold, and traded on Sorare's platform. The business model includes several revenue streams:

• Card Sales: Sorare earns revenue by selling digital player cards. These cards are categorised by rarity (Limited, Rare, Super Rare, and Unique) and are sold through auctions.
• Trading Fees: The platform collects fees when users trade cards on its marketplace.
• Gameplay Fees: Users are charged for participating in fantasy football competitions.
• Licensing Partnerships: Sorare collaborates with football clubs and leagues to license player cards, generating additional revenue.

Key Offerings

• Officially licensed digital football player cards
• Fantasy football gameplay using digital collectibles
• A global community of football enthusiasts and collectors
• Partnerships with major football leagues and clubs
• Rewards in the form of rare cards and cryptocurrency

Key Management

• Nicolas Julia: Co-founder & CEO
• Adrien Montfort: Co-founder & CTO

Investment Timeline

• 2021: Raised $680 million in Series B funding led by SoftBank, valuing the company at $4.2 billion.

Mirakl

• Valuation: $3.50B
• Industry: Consumer & Retail
• Investors: Elaia Partners, 83North, Felix Capital
• Unicorn Milestone Date: 9/22/2020

About

Mirakl is a Paris-based unicorn startup that provides a leading SaaS platform for creating and managing online marketplaces and dropship solutions. Founded in 2012 by Adrien Nussenbaum and Philippe Corrot, Mirakl helps businesses transform their eCommerce operations by enabling them to launch and scale enterprise marketplaces efficiently. As one of the key unicorn companies in France, Mirakl has achieved unicorn status by facilitating digital growth for numerous B2C and B2B brands across various industries, including retail, food distribution, hospitality procurement, and medical products.

Target Audience

Mirakl primarily targets:

• Retailers and eCommerce businesses looking to expand their product offerings without holding inventory.
• B2B companies aiming to digitise their procurement and sales processes.
• Large enterprises seeking to build scalable, profitable online marketplaces.

Business Model

Mirakl operates on a SaaS business model, providing a comprehensive suite of tools and services to help businesses create and manage their own online marketplaces. The platform offers modular solutions that include marketplace management, dropshipping, supplier sourcing, catalog management, personalisation, and retail media. Mirakl generates revenue through subscription fees for its software, as well as additional fees based on transaction volumes and the use of premium features. The company's scalable technology supports extensive product catalogues and high transaction volumes, ensuring reliability and performance for its clients.

Key Offerings

• Mirakl Marketplace Platform: Enables businesses to launch and scale online marketplaces with advanced tools for supplier onboarding, catalog integration, and performance management.
• Mirakl Connect: A network of pre-vetted, high-quality sellers and partners that businesses can easily onboard to their marketplaces.
• Mirakl Ads: A retail media solution that allows businesses to monetize their traffic and data through digital advertising.
• Mirakl Payout: Simplifies and accelerates payment workflows, ensuring quick and secure payments to sellers.
• Mirakl Target2Sell: An AI-driven personalisation engine that enhances product discoverability and conversion rates through tailored recommendations.
• Mirakl Catalog Manager: Improves product data quality and consistency, increasing buyer confidence and sales.

Key Management

• Adrien Nussenbaum: Co-Founder and Co-CEO
• Philippe Corrot: Co-Founder and Co-CEO

Investment Timeline

• 2021: Secured a $555 million Series E funding round, valuing the company at over $3.5 billion.
• 2023: Announced a €100 million Revolving Credit Facility to support growth and future acquisitions.

Alan

• Valuation: $2.85B
• Industry: Healthcare & Life Sciences
• Investors: Index Ventures, Temasek, Portag3 Ventures
• Unicorn Milestone Date: 4/19/2021

About

Alan is a digital health insurance startup based in Paris, France, founded in 2016 by Jean-Charles Samuelian-Werve and Charles Gorintin. It is recognised as the first independent health insurance company in France to receive a license since 1986. Alan aims to simplify and enhance the health insurance experience through a tech-centric, user-friendly approach. The company has rapidly grown to become a unicorn, valued at $3 billion, and serves over 500,000 members across France, Belgium, and Spain.

Target Audience

Alan primarily targets:

• Startups
• Freelancers
• Small to medium-sized enterprises (SMEs)
• Large enterprises
• Individuals seeking comprehensive health insurance solutions

Business Model

Alan operates on a subscription-based business model where it provides health insurance plans directly to businesses and individuals. The company leverages technology to streamline the insurance process, offering a fully digital platform that simplifies sign-ups, claims, and reimbursements. Alan's business model focuses on:

• Digital Integration: Using advanced technology to reduce complexity and improve transparency in health insurance.
• Customer-Centric Approach: Prioritising user experience with features like quick reimbursements, easy access to medical professionals, and personalised health advice.
• Cost Efficiency: Offering competitive price-quality ratio plans to make healthcare more accessible and affordable.
• Expansion and Innovation: Continuously expanding its product offerings and geographical reach, while investing in new technologies and services to enhance user experience.

Key Offerings

• Health Insurance Plans: Comprehensive coverage for hospitalisation, daily care, and preventive health services.
• Alan Clinic: Virtual clinic offering teleconsultations and chat services with doctors.
• Alan Mind: Mental well-being services including online sessions with certified psychologists.
• Alan Map: A tool to find medical help quickly and manage reimbursements.
• Alan Clear: Eye care and eyewear services.
• Alan Baby: (Retired) App providing advice and content for parents.
• Personal Care Guidance: Assistance in connecting with the right healthcare professionals based on specific health issues.

Key Management

• Jean-Charles Samuelian-Werve: Co-founder and CEO
• Charles Gorintin: Co-founder and CTO

Investment Timeline

• Series A: €23 million in 2018
• Series B: €40 million in 2019
• Series C: €50 million in 2020
• Series D: €185 million in 2021
• Series E: €183 million in 2022

ManoMano

• Valuation: $2.60B
• Industry: Consumer & Retail
• Investors: General Atlantic, Piton Capital, Partech Partners
• Unicorn Milestone Date: 07/05/2021

About

ManoMano is a French e-commerce unicorn startup founded in 2013 that operates as an online marketplace specialising in home improvement, DIY (do-it-yourself), and gardening products. The company has revolutionised the way people shop for these items by providing a vast selection of products, expert advice, and a user-friendly platform. As one of the leading unicorn companies in France, ManoMano has quickly grown to become the largest European marketplace in its sector, serving multiple countries across Europe.

Target Audience

ManoMano caters to two primary audience segments:

• DIY enthusiasts and homeowners looking for home improvement and gardening products
• Professional tradespeople and contractors through its B2B platform, ManoMano Pro

Business Model

ManoMano operates as a two-sided marketplace, connecting buyers with sellers of home improvement and gardening products. The company's business model is based on the following key elements:

• Commission-based revenue: ManoMano charges sellers a commission on each sale made through its platform, typically ranging from 18-20% depending on the product category.
• Subscription fees: Sellers pay a fixed monthly fee to list their products on the platform.
• Fulfilment services: ManoMano offers logistics and fulfilment services to sellers for an additional fee, helping to streamline the delivery process.
• Advertising: The company generates revenue through paid product listings and promotional opportunities for sellers.
• Expert advice: ManoMano differentiates itself by providing expert advice through its community of "Manodvisors," who earn commissions for assisting customers with their purchases.
• B2B platform: ManoMano Pro caters to professional tradespeople, offering bulk purchases at competitive prices and direct delivery to worksites.

Key Offerings

• Extensive product catalog with over 10 million SKUs from 3,600+ retailers
• User-friendly website and mobile app for easy browsing and purchasing
• Expert advice from Manodvisors
• ManoMano Pro B2B platform for professionals
• ManoFulfillment logistics service for sellers
• Competitive pricing and regular promotions
• Secure payment options and customer protection

Key Management

• Philippe de Chanville: Co-founder and Co-CEO
• Christian Raisson: Co-founder and Co-CEO

Investment Timeline

• January 2020: €125 million Series E round
• July 2021: $355 million Series F round, valuing the company at $2.6 billion and solidifying its unicorn status

ManoMano

• Valuation: $2.60B
• Industry: Consumer & Retail
• Investors: General Atlantic, Piton Capital, Partech Partners
• Unicorn Milestone Date: 07/05/2021

About

ManoMano is a French e-commerce unicorn startup founded in 2013 that operates as an online marketplace specialising in home improvement, DIY (do-it-yourself), and gardening products. The company has revolutionised the way people shop for these items by providing a vast selection of products, expert advice, and a user-friendly platform. As one of the leading unicorn companies in France, ManoMano has quickly grown to become the largest European marketplace in its sector, serving multiple countries across Europe.

Target Audience

ManoMano caters to two primary audience segments:

• DIY enthusiasts and homeowners looking for home improvement and gardening products
• Professional tradespeople and contractors through its B2B platform, ManoMano Pro

Business Model

ManoMano operates as a two-sided marketplace, connecting buyers with sellers of home improvement and gardening products. The company's business model is based on the following key elements:

• Commission-based revenue: ManoMano charges sellers a commission on each sale made through its platform, typically ranging from 18-20% depending on the product category.
• Subscription fees: Sellers pay a fixed monthly fee to list their products on the platform.
• Fulfillment services: ManoMano offers logistics and fulfillment services to sellers for an additional fee, helping to streamline the delivery process.
• Advertising: The company generates revenue through paid product listings and promotional opportunities for sellers.
• Expert advice: ManoMano differentiates itself by providing expert advice through its community of "Manodvisors," who earn commissions for assisting customers with their purchases.
• B2B platform: ManoMano Pro caters to professional tradespeople, offering bulk purchases at competitive prices and direct delivery to worksites.

Key Offerings

• Extensive product catalog with over 10 million SKUs from 3,600+ retailers
• User-friendly website and mobile app for easy browsing and purchasing
• Expert advice from Manodvisors
• ManoMano Pro B2B platform for professionals
• ManoFulfillment logistics service for sellers
• Competitive pricing and regular promotions
• Secure payment options and customer protection

Key Management

• Philippe de Chanville: Co-founder and Co-CEO
• Christian Raisson: Co-founder and Co-CEO

Investment Timeline

• January 2020: €125 million Series E round
• July 2021: $355 million Series F round, valuing the company at $2.6 billion and solidifying its unicorn status

Voodoo

• Valuation: $2.31B
• Industry: Media & Entertainment
• Investors: Tencent Holdings, Goldman Sachs
• Unicorn Milestone Date: 8/17/2020

About

Voodoo is a French mobile game developer and publisher based in Paris, founded in 2013 by Alexandre Yazdi and Laurent Ritter. The company specialises in creating and publishing "hyper-casual" mobile games - simple, addictive games with minimal design that are quick to play and easy to understand. Voodoo achieved unicorn status in 2018 when it received a $200 million investment from Goldman Sachs, valuing the company at over $1 billion.

Target Audience

Voodoo's target audience is primarily casual mobile gamers of all ages who enjoy quick, easy-to-play games on their smartphones. Their games appeal to a broad demographic, from young children to adults, looking for simple entertainment during short breaks or idle moments.

Business Model

Voodoo's business model is primarily based on advertising revenue. Their games are free to download and play, but they generate income through in-game advertisements. The company uses a data-driven approach to game development and publishing:

• Rapid prototyping: Voodoo tests hundreds of game prototypes quickly, sometimes releasing a new game every week.
• Data analysis: They use extensive data analytics to identify which games have the potential to become hits based on metrics like retention rates and cost per install.
• Scaling successful games: Once a game shows promise, Voodoo invests heavily in user acquisition to rapidly scale its user base.
• Cross-promotion: Voodoo promotes its new games within its existing portfolio of successful games.
• Publishing partnerships: The company also publishes games developed by external studios, sharing revenue with these partners.

Key Offerings

• Hyper-casual mobile games (e.g., Helix Jump, Hole.io, Paper.io 2)
• Game publishing services for independent developers
• Data analytics and user acquisition expertise
• Cross-promotion network across its game portfolio

Key Management

• Alexandre Yazdi: Co-founder and CEO
• Laurent Ritter: Co-founder

Investment Timeline

• May 2018: $200 million investment from Goldman Sachs, valuing the company at over $1 billion
• August 2020: Tencent acquires a minority stake, valuing Voodoo at $1.4 billion
• August 2021: Groupe Bruxelles Lambert acquires a 16% stake for €266 million, valuing Voodoo at €1.7 billion

Mistral AI

• Valuation: $2B
• Industry: Enterprise Tech
• Investors: Lightspeed Venture Partners, General Catalyst, Andreessen Horowitz
• Unicorn Milestone Date: 12/10/2023

About

Mistral AI is a French generative artificial intelligence (AI) startup based in Paris. Founded in May 2023, Mistral AI quickly achieved unicorn status, reaching a valuation of approximately €2 billion within seven months. The company specialises in developing open-source language models that can be used for various AI applications, such as chatbots and search engines. As one of the newest unicorn companies in France, Mistral AI positions itself as a European rival to major AI players like OpenAI and Google, emphasising an open, responsible, and decentralised approach to AI technology.

Target Audience

Mistral AI primarily targets:

• Developers and Businesses: Offering cutting-edge AI models that can be customised and integrated into various applications.
• Enterprises: Particularly those in sectors like healthcare, finance, retail, and manufacturing, looking to incorporate advanced AI solutions.
• AI Community: Researchers and developers interested in open-source AI technologies.

Business Model

Mistral AI operates on a business model that leverages open-source generative AI technologies. The company provides its AI models under the Apache 2.0 license, allowing for free use and customisation. This approach fosters trust, transparency, and decentralisation in AI development. Mistral AI generates revenue through:

• API Access: Offering serverless APIs and cloud services for deploying AI models.
• Custom Solutions: Providing tailored AI solutions and consulting services to help businesses integrate AI into their operations.
• Partnerships: Collaborating with tech giants like Microsoft and IBM to expand their market reach and offer exclusive models on platforms like Azure.

Key Offerings

• Mistral 7B: A 7 billion parameter model known for its efficiency and performance.
• Mixtral 8x7B and Mixtral 8x22B: Sparse Mixture-of-Experts models designed for high performance with fewer active parameters.
• Mistral Large: The flagship model offering top-tier reasoning capabilities.
• Codestral: A model specialised in code generation tasks.
• Mistral Embed: A model for extracting semantic representations of text.

Key Management

• Arthur Mensch: Co-founder and CEO
• Guillaume Lample: Co-founder
• Timothee Lacroix: Co-founder and Chief Technology Officer

Investment Timeline

• November 2023: Raised nearly €500 million.
• December 2023: Achieved unicorn status with a valuation of €2 billion after raising €385 million.
• June 2024: Secured €600 million in funding from investors including Nvidia and Salesforce, pushing the valuation to approximately €6 billion.

BlaBlaCar

• Valuation: $2B
• Industry: Consumer & Retail
• Investors: Accel Partners, Index Ventures, Insight Venture Partners
• Unicorn Milestone Date: 9/16/2015

About

BlaBlaCar is a French unicorn startup based in Paris that operates an online marketplace for carpooling. Founded in 2006, it connects drivers with empty seats to passengers travelling in the same direction for long-distance journeys. BlaBlaCar has grown to become the world's leading community-based travel platform, operating in 21 countries and serving 27 million active members annually. 

Target Audience

BlaBlaCar caters to two main groups:

• Drivers looking to share the cost of long-distance trips by offering empty seats in their vehicles.
• Passengers seeking affordable and sustainable travel options for intercity journeys.

Business Model

BlaBlaCar generates revenue primarily through a commission-based model:

• Service Fees: The company charges a service fee of 10-12% on each ride booked through the platform.
• BlaBlaBus: An intercity bus service that complements the carpooling offering.
• Insurance Products: Offering travel insurance to users.
• Subscription Model: Premium memberships with additional benefits.
• Expansion Strategy: BlaBlaCar focuses on international growth, using a mix of strategies including acqui-hires (acquiring local companies for their teams), spin-offs, and building local teams from scratch.
• Trust-Building: The platform emphasises creating a trusted community through user ratings, reviews, and identity verification measures.

Key Offerings

• Long-distance carpooling services
• BlaBlaBus intercity bus service
• Travel insurance products
• Premium membership subscriptions

Key Management

• Frédéric Mazzella: Co-founder and Chairman
• Nicolas Brusson: Co-founder and CEO
• Francis Nappez: Co-founder and CTO

Investment Timeline

• 2009: €600,000 seed funding from founders, friends, and family
• 2010: €1.25 million from ISAI
• 2012: €7.5 million from Accel Partners, ISAI, and Cabiedes & Partners
• July 2014: $100 million from Index Ventures
• September 2015: $200 million, primarily from Insight Venture Partners, valuing the company at $1.6 billion and officially reaching unicorn status
• November 2018: $114 million from SNCF and previous investors
• April 2021: $115 million funding round

Ankorstore

• Valuation: $1.98B
• Industry: Consumer & Retail
• Investors: Global Founders Capital, Aglae Ventures, Alven Capital
• Unicorn Milestone Date: 01/10/2022

About

Ankorstore is a Paris-based wholesale marketplace that connects independent brands with local retailers across Europe. Founded in 2019 by Pierre-Louis Lacoste, Nicolas Cohen, Nicolas d’Audiffret, and Mathieu Alengrin, Ankorstore aims to support local businesses by providing a platform where they can easily discover and purchase products from a wide range of brands. As one of the notable unicorn companies in France, Ankorstore reached unicorn status with a valuation of €1.75 billion after raising €250 million in Series C funding.

Target Audience

Ankorstore primarily targets:

• Independent retailers: Small to medium-sized shops looking for unique products to stock.
• Independent brands: Manufacturers and producers seeking to expand their reach and sell to a broader audience without the complexities of traditional wholesale processes.

Business Model

Ankorstore operates on a B2B2C (business-to-business-to-consumer) model. It does not hold inventory or operate warehouses. Instead, it acts as an intermediary, facilitating transactions between brands and retailers. Key aspects of its business model include:

• Commission-based revenue: Brands pay a commission on sales made through the platform.
• Flexible payment terms: Retailers can pay up to 60 days after ordering, easing cash flow constraints.
• Low order minimums: Retailers can place orders with a minimum value of €100, reducing the risk of overstocking.

Key Offerings

• Wide selection: Access to over 30,000 brands across various categories such as homeware, fashion, beauty, and more.
• Risk-free discovery: Retailers can explore new products with low minimum orders and first-order free shipping.
• Flexible payment options: Retailers can pay later or in instalments, while brands receive payment upon delivery.
• Streamlined processes: Simplified ordering and administrative processes, allowing retailers to focus on their core business.

Key Management

• Pierre-Louis Lacoste: Co-founder and Chief Business Officer (CBO)
• Nicolas Cohen: Co-founder and Co-CEO
• Nicolas d’Audiffret: Co-founder and Co-CEO
• Mathieu Alengrin: Co-founder

Investment Timeline

• 2020: Raised €84 million in Series B funding
• 2021: Sales volume increased by 950%
• 2022: Raised €250 million in Series C funding, reaching a €1.75 billion valuation.

Ledger

• Valuation: $1.47B
• Industry: Financial Services
• Investors: Digital Currency Group, Draper Esprit, Korelya Capital
• Unicorn Milestone Date: 06/10/2021

About

Ledger is a French unicorn startup based in Paris, specialising in security and infrastructure solutions for digital assets. Founded in 2014, Ledger has become a global leader in the cryptocurrency and blockchain security space, known for its hardware wallets and enterprise solutions. The company aims to provide secure ways for individuals and institutions to buy, store, swap, and manage their digital assets.

Target Audience

• Individual cryptocurrency users who need secure storage solutions for their digital assets.
• Institutional investors such as banks, hedge funds, and high-net-worth individuals requiring robust security for large-scale digital asset management.
• Businesses and enterprises looking to integrate blockchain technology and secure digital asset management into their operations.

Business Model

Ledger operates on a mixed business model that includes both B2C (Business-to-Consumer) and B2B (Business-to-Business) components:

• B2C Model: Ledger sells hardware wallets directly to consumers through its website and various resellers. These wallets are designed to securely store cryptocurrencies and NFTs offline, protecting them from online threats.
• B2B Model: Ledger offers enterprise solutions through its Ledger Enterprise platform, which provides tools for self-custody, governance, treasury management, and secure digital asset operations. This platform is tailored for businesses needing advanced security and compliance features.

Key Offerings

• Ledger Nano S Plus: An entry-level hardware wallet for managing cryptocurrencies and NFTs
• Ledger Nano X: A Bluetooth-enabled hardware wallet for secure, on-the-go management of digital assets.
• Ledger Stax: An advanced hardware wallet with a curved E Ink® touchscreen for enhanced user experience.
• Ledger Live App: A companion app for managing cryptocurrencies, staking, and accessing various DeFi services.
• Ledger Vault: A SaaS solution for enterprises to manage large-scale digital assets with high security and governance controls.
• Ledger Enterprise API: Tools for businesses to automate operations and interact with web3 at scale.

Key Management

• Pascal Gauthier: CEO
• Nicolas Bacca: Co-Founder & Innovation Lead

Investment Timeline

• 2014: Ledger was founded.
• 2021: Raised $380 million in a Series C funding round, becoming a unicorn with a valuation of over $1.5 billion.
• 2023: Continued to expand its product line and enterprise solutions, securing additional investments to fuel growth.

Spendesk

• Valuation: $1.50B
• Industry: Enterprise Tech
• Investors: Index Ventures, Eight Roads Ventures, General Atlantic
• Unicorn Milestone Date: 1/18/2022

About

Spendesk is a Paris-based financial technology startup that offers a comprehensive spend management solution for small and medium-sized businesses (SMBs). Founded in 2016, Spendesk has grown rapidly, becoming a unicorn with a valuation exceeding €1 billion. As one of the prominent unicorn companies in France, the platform integrates various financial tools into a single solution, including corporate cards, invoice payments, expense reimbursements, budgets, approval workflows, reporting, compliance, and pre-accounting. Spendesk aims to streamline and automate the entire spending process, providing businesses with full visibility and control over their expenditures.

Target Audience

Spendesk primarily targets finance teams within SMBs. The platform is designed to cater to businesses that need efficient and scalable solutions for managing their financial processes. It is particularly beneficial for companies looking to automate expense management, gain real-time visibility into spending, and improve financial control.

Business Model

Spendesk operates on a subscription-based business model. Businesses pay a recurring fee to access the platform, which includes various features designed to simplify and automate spend management. There are no hidden fees or setup costs, making it an attractive option for companies looking to manage their expenses more effectively. The platform's ability to integrate with existing accounting systems and provide real-time insights into spending helps businesses make smarter financial decisions and reduce administrative burdens.

Key Offerings

• Corporate Cards: Both physical and virtual cards for secure and controlled spending.
• Expense Reimbursements: Seamless reimbursement processes for employee expenses.
• Invoice Payments: Automated management of supplier invoices to avoid late fees.
• Budgets: Tools to empower teams to manage and adhere to budgets.
• Approval Workflows: Customisable workflows to ensure accountability and control over spending.
• Reporting and Compliance: Real-time reporting and compliance features to maintain financial integrity.
• Pre-accounting: Automation of receipt collection and integration with accounting systems.

Key Management

• Rodolphe Ardant: CEO and Co-founder

Investment Timeline

• Series C Extension (January 2022): Raised an additional €100 million, bringing the total for the Series C round to €200 million. This round was led by Tiger Global, with participation from existing investors such as General Atlantic, Eight Roads Ventures, Index Ventures, and eFounders.

Vestiaire Collective

• Valuation: $1.18B
• Industry: Consumer & Retail
• Investors: Eurazeo, IDInvest Partners, Balderton Capital
• Unicorn Milestone Date: 03/01/2021

About

Vestiaire Collective is a French unicorn startup founded in 2009 that operates a global online marketplace for buying and selling pre-owned luxury fashion items. The platform allows users to purchase and sell authenticated second-hand designer clothing, accessories, and shoes. Vestiaire Collective achieved unicorn status in 2021 with a valuation of over $1 billion, making it one of the leading players in the circular fashion economy.

Target Audience

Vestiaire Collective primarily targets fashion-conscious millennials and Gen Z consumers who are interested in sustainable and affordable luxury fashion. The platform appeals to both buyers looking for discounted designer items and sellers wanting to monetise their unused luxury goods.

Business Model

Vestiaire Collective operates on a peer-to-peer marketplace model, facilitating transactions between buyers and sellers of pre-owned luxury fashion items. The company generates revenue through commission fees charged to sellers on successful sales. The fee structure varies by country and item price, but typically ranges from 12% to 25% of the sale price.

Key features of the business model include:

• Authentication process: Vestiaire Collective employs a team of experts to verify the authenticity of items before they are shipped to buyers, ensuring trust and quality control.
• Global reach: The platform operates in over 70 countries, connecting buyers and sellers worldwide.
• Curation: The company carefully selects and curates the items listed on its platform, maintaining a focus on desirable luxury brands.
• Sustainability focus: By promoting the resale of pre-owned items, Vestiaire Collective contributes to reducing waste in the fashion industry.
• Brand partnerships: The company collaborates with luxury brands to offer exclusive resale services and collections.

Key Offerings

• Online marketplace for buying and selling pre-owned luxury fashion items
• Authentication services for all items sold on the platform
• Mobile app for easy listing and purchasing of items
• Concierge service for high-value items
• Direct shipping option for certain verified sellers
• Vestiaire Collective-branded packaging for a premium unboxing experience

Key Management

• Maximilian Bittner - CEO
• Fanny Moizant - Co-founder and President
• Sophie Hersan - Co-founder and Fashion Director
• Sebastien Fabre - Founder

Investment Timeline

• 2013: Raised €20 million in Series B funding
• 2015: Raised €33 million in Series D funding
• 2017: Raised €58 million in Series F funding
• 2019: Raised €40 million in funding
• 2021: Raised €178 million, achieving unicorn status with a valuation of over $1 billion. Kering (luxury group) invested in the company

Younited

• Valuation: $1.16B
• Industry: Financial Services
• Investors: Weber Investissements, Schibsted Growth
• Unicorn Milestone Date: 12/08/2022

About

Younited is a French FinTech company specialising in providing instant credit solutions. Founded in 2009 by Charles Egly and Geoffroy Guigou, Younited offers a seamless and fast credit experience to consumers and businesses across Europe. As one of the notable unicorn companies in France, the company is valued at €1.1 billion, making it the 27th French unicorn as of December 2022. Younited operates in five European countries: France, Italy, Spain, Portugal, and Germany, and is known for its innovative approach to consumer loans, instalment payments, and financial coaching.

Target Audience

Younited primarily targets:

• Individual consumers seeking quick and transparent credit solutions for personal projects such as home refurbishments, vacations, or purchasing electronics.
• Retailers, telcos, banks, and fintechs looking to offer instant credit solutions to their customers.
• Professional investors interested in a new asset class with competitive risk-adjusted returns.

Business Model

Younited operates on a B2B2C (Business-to-Business-to-Consumer) and B2C (Business-to-Consumer) model:

• Direct-to-Consumer (DTC) Channel: Younited offers personal loans directly to consumers through its online platform. These loans are up to €50,000 with terms up to 84 months. The application process is quick, often taking under six minutes for a final decision.
• Partnerships Channel: Younited collaborates with merchants and financial institutions to integrate its instant credit solutions into their platforms. This allows partners to offer their customers financing options for purchases, enhancing the customer experience and potentially increasing sales.
• Investment Platform: Younited provides a platform for professional investors to invest in unsecured consumer loans, offering a new asset class with low correlation to traditional investments.

Key Offerings

• Instant Credit Solutions: Quick and transparent credit decisions for consumers.
• Installment Payments: Flexible payment plans for purchases, available both online and in-store.
• Financial Coaching: Free financial advice and budget management tools.
• Insurance Products: Embedded insurance options to protect customers and their projects.
• Savings Opportunities: Financial coaching to help customers save money.

Key Management

• Charles Egly: Co-founder and Chairman of the Management Board
• Geoffroy Guigou: Co-founder

Investment Timeline

• 2022: Raised €60 million from investors including Eurazeo, Crédit Mutuel Arkéa, Bpifrance, and Goldman Sachs.

Pigment

• Valuation: $1B
• Industry: Enterprise Tech
• Investors: FirstMark Capital, Meritech Capital Partners, Institutional Venture Partners
• Unicorn Milestone Date: 04/03/2024

About

Pigment is a Paris-based business planning platform founded in 2019 that has achieved unicorn status. The company provides an innovative solution for strategic financial planning, forecasting, and reporting, aiming to replace traditional spreadsheets and legacy planning tools. Pigment's platform combines intuitive user experience with powerful data processing capabilities, allowing organisations to make better-informed decisions and adapt quickly to changing business environments.

Target Audience

Pigment primarily caters to finance and revenue teams in fast-growing companies, enterprises, and soon-to-be unicorns. Its platform is designed for various departments, including finance, sales, HR, and supply chain, making it suitable for cross-functional collaboration.

Business Model

Pigment operates on a Software-as-a-Service (SaaS) model, offering its business planning platform to customers on a subscription basis. The company generates revenue by charging for access to its platform, with pricing likely based on factors such as the number of users, features, and data volume. Pigment's success is driven by its ability to provide a more efficient, collaborative, and insightful alternative to traditional planning tools like Excel and legacy enterprise software.

The company focuses on product innovation and customer acquisition, particularly in the North American market, which has become its largest. Pigment's growth strategy includes expanding its partner network, collaborating with leading consulting firms, and continuously enhancing its platform with new features and AI capabilities.

Key Offerings

• Real-time data consolidation and aggregation from multiple sources
• Dynamic modeling and scenario planning
• Collaborative planning and forecasting tools
• AI-powered insights and reporting
• Intuitive visualisations and dashboards
• Integration with existing tech stacks (e.g., NetSuite, SAP, Salesforce)
• Workforce planning and HR modules
• Sales planning and quota management tools
• Supply chain planning features

Key Management

• Eléonore Crespo: Co-founder and Co-CEO (former Google analyst and Index Ventures investor)
• Romain Niccoli: Co-founder and Co-CEO (former co-founder and CTO of Criteo)

Investment Timeline

• 2021: €63.7 million Series B funding round
• 2023: €80 million Series C funding round led by ICONIQ Growth
• 2024 (April): $145 million (€133 million) Series D funding round led by ICONIQ Growth, reaching unicorn status

EcoVadis

• Valuation: $1B
• Industry: Enterprise Tech
• Investors: Astorg Partners, Princeville Global, Beyond Net Zero
• Unicorn Milestone Date: 6/14/2022

About

EcoVadis is a French unicorn startup founded in 2007 that provides business sustainability ratings and intelligence. The company offers a global platform for evaluating and improving the environmental, social, and ethical performance of companies across supply chains. As one of the key unicorn companies in France, EcoVadis has become a leading provider of sustainability ratings, helping organisations assess and enhance their sustainability practices.

Target Audience

EcoVadis primarily serves:

• Global corporations
• Supply chain companies
• Financial institutions
• Public organisations

Business Model

EcoVadis operates on a subscription-based model, offering its sustainability intelligence platform to businesses. Companies pay to access EcoVadis' ratings, scorecards, and improvement tools. The platform uses a proprietary methodology to assess and score companies on various sustainability criteria. EcoVadis generates revenue by:

• Selling subscriptions to its platform
• Providing sustainability assessments and ratings
• Offering improvement and benchmarking tools
• Facilitating collaboration between buyers and suppliers on sustainability initiatives

Key Offerings

• Sustainability Ratings: Evidence-based assessments of companies' sustainability performance
• Scorecards: Detailed reports providing insights and benchmarks
• Improvement Tools: Guidance and resources for enhancing sustainability practices
• Risk and Compliance Management: Tools to identify and mitigate sustainability risks in supply chains
• Sustainable Finance Solutions: Ratings and data to support sustainable investment decisions
• Sector Initiatives: Collaborative programs to drive sustainability improvements in specific industries

Key Management

• Frédéric Trinel: Co-Founder and Co-CEO
• Pierre-François Thaler: Co-Founder and Co-CEO

Investment Timeline

• 2016: Raised $32 million in Series B funding
• 2020: Raised $200 million from CVC Growth Partners
• 2022: Raised $500 million, reaching a valuation of $1 billion and achieving unicorn status

Meero

• Valuation: $1B
• Industry: Media & Entertainment
• Investors: Aglae Ventures, Global Founders Capital, Alven Capital
• Unicorn Milestone Date: 6/18/2019

About

Meero is a French tech startup founded in 2016 that has achieved unicorn status, reaching a valuation of over $1 billion in just three years. The company provides a suite of tools and services designed to enhance the lives of photographers by increasing their revenue and streamlining their work processes. Meero's platform connects photographers with clients worldwide, primarily in the food and travel industries, while also offering tools for business management and professional development.

Target Audience

Meero caters to two main groups:

• Photographers: Freelance and professional photographers looking to monetise their time and skills more effectively.
• Businesses: Companies in various industries (e.g., food delivery, travel, e-commerce, real estate) that require high-quality, consistent visual content.

Business Model

Meero operates on a platform model that connects photographers with clients while providing value-added services:

• Photographer Marketplace: Meero connects photographers with clients, taking a commission on each completed project.
• Client Services: The company manages large-scale photography projects for businesses, handling everything from photographer assignment to post-production.
• Software as a Service (SaaS): Meero offers free online software for photographers to manage their business operations.
• AI-Powered Post-Production: The company uses artificial intelligence to streamline and automate photo editing processes.
• Community and Education: Meero provides free masterclasses and organises events for photographers, building a loyal user base.

Key Offerings

• Photographer-client matching platform.
• AI-powered photo editing and post-production services.
• Business management software for photographers (CRM, marketing automation, accounting tools).
• Free educational resources and masterclasses.
• Community events and networking opportunities for photographers.
• Large-scale photography project management for businesses.

Key Management

• Gaétan Rougevin-Baville: Current Chief Executive Officer
• Thomas Rebaud: Co-founder and former CEO

Investment Timeline

• 2019: Raised $230 million, achieving unicorn status with a valuation of over $1 billion

Shift Technology

• Valuation: $1B
• Industry: Insurance
• Investors: Griffin Gaming Partners, Andreessen Horowitz, Battery Ventures
• Unicorn Milestone Date: 05/06/2021

About

Shift Technology is a Paris-based insurtech unicorn specialising in AI-powered decision automation and optimisation solutions for the insurance industry. Founded in 2014 by David Durrleman, Eric Sibony, and Jeremy Jawish, the company aims to revolutionise insurance processes by leveraging artificial intelligence to enhance operational efficiency, mitigate fraud, and improve policyholder experiences. Shift Technology's solutions are designed to automate and optimise critical decisions across the insurance policy lifecycle, from underwriting to claims processing.

Target Audience

Shift Technology primarily targets:

• Insurance companies (Property & Casualty, Health, Life, Workers’ Compensation, and Travel insurers)
• Special Investigation Units (SIUs) within insurance companies
  Global insurers seeking to improve operational efficiency and customer satisfaction

Business Model

Shift Technology operates on a SaaS (Software as a Service) model, offering cloud-based AI solutions to insurers. The company provides a suite of products that integrate seamlessly with insurers' existing systems, enabling rapid deployment and fast return on investment (ROI). Shift charges subscription fees for access to its AI-driven tools, which help insurers automate decision-making processes, detect fraud, and optimise claims management. The business model focuses on continuous innovation and expansion into new markets, supported by significant investment in research and development.

Key Offerings

• Shift Claims Fraud Detection: Identifies hidden fraud in the claims process.
• Shift Subrogation Detection: Detects opportunities for subrogation and recovery.
• Shift Improper Payment Detection: Identifies improper payments to reduce losses.
• Shift Underwriting Risk Detection: Assesses underwriting risks to optimise policy pricing and reduce risk.
• Integrated Case Management: Provides end-to-end workflow for managing fraud investigations.

Key Management

• Jeremy Jawish: CEO and Co-founder
• David Durrleman: Co-founder

Investment Timeline

• 2019: Raised €53 million in a funding round
• 2021: Raised $220 million in a Series D round, achieving unicorn status with a valuation exceeding $1 billion
• Total Funding: $320 million as of the latest round

Dental Monitoaring

• Valuation: $1B
• Industry: Healthcare & Life Sciences
• Investors: Vitruvian Partners, Merieux Equity Partners, Straumann
• Unicorn Milestone Date: 10/21/2021

About

Dental Monitoring is a French healthtech unicorn founded in 2014 that provides AI-powered remote monitoring solutions for the dental and orthodontic industry. The company has developed an innovative platform that uses artificial intelligence to analyse smartphone photos of patients' teeth, enabling dentists and orthodontists to remotely monitor treatments and oral health.

Target Audience

Dental Monitoring primarily serves dental professionals, including dentists, orthodontists, and dental practices. Their solutions are designed to help these professionals monitor patients remotely, optimise workflows, and improve treatment outcomes.

Business Model

Dental Monitoring operates on a Software-as-a-Service (SaaS) model, providing its AI-powered platform to dental professionals on a subscription basis. The company offers various solutions that cater to different aspects of dental care, from patient engagement to treatment monitoring. Their business model relies on recurring revenue from subscriptions to their software platform and additional revenue from hardware devices like the ScanBox pro.

Key Offerings

• AI-powered remote monitoring solution for dental treatments
• Virtual consultation tools
• Treatment simulation software
• Practice management and workflow optimisation tools
• ScanBox pro device for at-home patient scans
• Patient engagement and communication platform

Key Management

• Philippe Salah: Co-founder and CEO
• Armelle Coquart: Founder

Investment Timeline

• 2021: Raised $150 million in a funding round led by Mérieux Equity Partners, achieving unicorn status with a valuation over $1 billion.

Lydia

• Valuation: $1B
• Industry: Financial Services
• Investors: NewAlpha, XAnge Private Equity, Tencent Holdings
• Unicorn Milestone Date: 12/08/2021

About

Lydia is a Paris-based fintech startup founded in 2013 by Cyril Chiche and Antoine Porte. It initially started as a peer-to-peer (P2P) payment app but has since evolved into a comprehensive financial services platform. Lydia achieved unicorn status in December 2020 after securing significant investment, including from notable investors like Tencent and Accel. The company aims to become a financial "superapp," providing a wide range of services from payments to investments.

Target Audience

Lydia primarily targets millennials and Gen Z users in France and other parts of Europe. These demographics are tech-savvy and prefer managing their finances through mobile applications. Lydia's user-friendly interface and comprehensive suite of financial services appeal to these younger generations who seek convenience and autonomy in their financial dealings.

Business Model

Lydia operates on a freemium model, offering basic financial services for free while charging for premium features and services. The company generates revenue through:

• Subscription Fees: Users can subscribe to premium plans that offer additional features and benefits.
• Transaction Fees: Lydia charges fees on certain transactions, such as international money transfers and trading activities.
• Partnerships and Commissions: The company partners with other financial institutions and earns commissions on services like loans, insurance, and investment products.

Key Offerings

• P2P Payments: Instant money transfers between users.
• Banking Services: Includes joint accounts, savings accounts, and VISA cards.
• Cashback: Users earn cashback on purchases made through Lydia.
• Micro-Loans: Small loans that can be quickly accessed through the app.
• Trading: Allows users to trade stocks, cryptocurrencies, rare materials, and ETFs.
• Insurance: Various insurance products tailored to user needs.
• Crypto Trading: Developed in partnership with Bitpanda, enabling users to trade cryptocurrencies.

Key Management

• Cyril Chiche: Co-founder and CEO
• Antoine Porte: Co-founder and COO

Investment Timeline

• December 2020: Achieved unicorn status with a $100 million funding round.
• Series B: Raised $133 million, with significant investments from Tencent and Accel.
• Series C: Raised $100 million, further solidifying its unicorn status.

OVH

• Valuation: $1B
• Industry: Enterprise Tech
• Investors: KKR, TowerBrook Capital Partners
• Unicorn Milestone Date: 8/15/2016

About

OVH (now known as OVHcloud) is a French cloud computing company founded in 1999 by Octave Klaba. Headquartered in Roubaix, France, OVHcloud has grown to become Europe's largest cloud computing provider and a global player in the industry. The company achieved unicorn status in 2016 with a valuation exceeding $1 billion. OVHcloud offers a wide range of cloud infrastructure services, including dedicated servers, virtual private servers, cloud hosting, and web hosting solutions.

Target Audience

OVHcloud caters to a diverse customer base, including:

• Small and medium-sized enterprises (SMEs)
• Large corporations
• Startups and scaleups
• Government organisations
• Individual developers and tech enthusiasts

Business Model

OVHcloud operates on a Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) model. The company generates revenue by providing cloud infrastructure and services to customers on a subscription or pay-as-you-go basis. Key aspects of their business model include:

• Vertical integration: OVHcloud designs and manufactures its own servers and operates its own data centres, allowing for cost control and customisation.
• Global infrastructure: The company maintains a network of data centres across multiple continents, ensuring low latency and data sovereignty options for customers.
• Open-source focus: OVHcloud emphasises the use of open-source technologies, promoting interoperability and avoiding vendor lock-in.
• Partner ecosystem: The company collaborates with technology partners and solution providers to expand its service offerings and reach new markets.
• Startup support: OVHcloud offers a Startup Program, providing free cloud credits and technical support to emerging companies.
• Sustainable approach: The company focuses on energy-efficient data centers and environmentally friendly practices, appealing to eco-conscious customers.

Key Offerings

• Bare Metal Cloud (dedicated servers)
• Public Cloud (virtual machines and object storage)
• Private Cloud (VMware-based solutions)
• Web Hosting
• Domain registration services
• VPS (Virtual Private Servers)
• Cloud storage solutions
• AI and Machine Learning platforms
• Managed Kubernetes
• Database-as-a-Service

Key Management

• Octave Klaba: Founder and Chairman
• Michel Paulin: Chief Executive Officer

Investment Timeline

• 2016: Received €250 million investment from KKR and TowerBrook Capital Partners, achieving unicorn status
• 2018: Raised €400 million in debt financing to fuel global expansion
• 2021: Completed initial public offering (IPO) on Euronext Paris, raising €350 million