The European and Israeli cloud ecosystem is accelerating as never before.
Back in 2016, Europe and Israel had only four public companies worth less than $9B combined and local cloud companies had raised just $900M throughout 2015. Today, Europe and Israel have generated 23 public companies worth $231B and private cloud financing reached c. $30B. The $900M of SaaS VC funding in 2015 now represents less than Europe's largest financing round, with Celonis raising $1B in June this year.
And the milestones don’t stop there:
- Europe generated the largest cloud IPO of 2021, with UiPath closing its first day of trading with a $36B market cap
- Europe and Israel minted the two fastest cloud companies to hit unicorn status, with Wiz (14 months) and Hopin (17 months)
So now feels like the right time to ask: