After the global pandemic of 2020 and the economic slowdown it engendered, French startups are back on their feet.
2022 was a year rich in fund-raising, enabling various French startups to pass the $1 billion valuation mark without being listed on the stock market.
Which startups became unicorns in 2022? What funding have they received? What does the future hold for them? Focus on the French companies that made their mark in 2022.
Doctolib, the medical appointment scheduling app
During the covid-19 crisis, its name was on everyone's lips. Doctolib enabled millions of French people to book appointments with their doctor directly via an app. At a time when all physical contact between people was controlled and doctors' surgeries were overcrowded, Doctolib emerged as a very interesting alternative for French citizens.
Last March, Doctolib raised raised 500 million euros in financing to reach a valuation of 5.8 billion euros. The company thus became the biggest unicorn in France. Its CEO, Stanislas Niox-Château, has announced that he intends to take advantage of this investment to create 3,500 new jobs in France and abroad.
Contentsquare, a benchmark in web user behavior analysis
Artificial intelligence has been on the rise for several years now. More and more companies are integrating it into their applications to offer their customers a quality experience. Whether we like it or not, the future will be shaped by AI, and Contentsquare has understood this. This French start-up proposes to use artificial intelligence to analyze the behavior of Internet users. In this way, marketplaces can better understand their customers' needs and offer them tailored services.
An idea that's sure to please, since the startup already counts world-famous brands such as Fnac, Leroy Marlin, Calzedonia and Rakuten among its customers. In addition to these major brands, Contentsquare's project has also attracted a number of investors. Eurazeo, Bpifrance, KKR and Liontree Bank took part in a financing round that brought in 600 million dollars to the French start-up. Thanks to these investments, Contentsquare has doubled its valuation to $5.6 billion. The funds obtained should enable the unicorn to invest in research intoExperience Analytics research and to offer an ever more technologically advanced tool.
Exotec, an industrial unicorn
When we think of unicorns, we often think of FinTechs specializing in new technologies. Of all the unicorns in France, the majority are related to this sector. However, one industrial company has just joined the list of companies valued at over a billion dollars: Exotec. Its aim is to promote "a collaborative approach between humans and robots, which increases warehouse productivity tenfold by improving working conditions", according to co-founder Romain Moulin. The concept is working, as Exotec continues to expand internationally, and is looking forward to becoming a major player in the field. one of the leaders in logistics robotics.
To achieve this, Exotec intends to take advantage of the financing it received last January: 335 million dollars raised by Goldman Sachs Asset Management and Bpifrance. This round of financing enabled Exotec to become the 25th French unicorn, with a valuation of $2 billion. A real tour de force for this robotics specialist, which looks set to continue its ascent in the years to come.
Payfit, the very first French unicorn in 2022
Managing payments can be a real headache for companies. What's more, human error and wasted time can sometimes be the cause of unnecessary expenses for companies. To alleviate this problem, Payfit decided to launch in 2016 a payroll and human resources management platform designed to facilitate the work of business owners and their accountants: the new unicorn promises a "reliable, simple and automated solution for payroll management". Specializing in small and medium-sized businesses, Payfit now has over 9,500 customers.
In 2022, Payfit is the first company to achieve unicorn status, thanks to a €254 million round of financing on January 6. This round of financing gave the company a valuation of $1.82 billion, making it France's 23rd unicorn. Payfit's objective is to use these investments to develop its offering and strengthen its presence among SMEs. In addition, the firm has announced the recruitment of 400 new employees, who we hope will help it achieve its objectives.
NW Groupe, specialist in electricity storage
With fuel prices on the rise and the urgency of climate change, more and more French people are turning to electric vehicles. More economical and more environmentally friendly, sales of these vehicles are booming, and NW Groupe intends to take full advantage. The company has already installed charging stations for electric cars in France and aims to continue its roll-out throughout the country.
To join the closed circle of French unicorns, the group benefited from 300 million euros in financing for its subsidiary NW Storm. Determined to play a major role in the energy transition, NW Groupe plans to install 250 IECharge stations over the next 18 months, representing 1,000 high-power recharging points. In addition, the unicorn intends to continue deploying 2,000 JBoxes in France and abroad over the next four years. With its fast, economical recharging system, NW Groupe should continue to win over environmentally conscious users.
EcoVadis, the CSR performance unicorn
Sustainable development and the ecological transition have been at the heart of debates for several years, which is why companies must now comply with certain rules to help improve our societies. This set of rules is known as CSR, for "corporate social responsibility". EcoVadis works with various companies to enable them to improve their CSR performance and help them improve their carbon footprint or energy costs. A service that seems to be working, since the new unicorn already has more than 95,000 corporate customers worldwide.
In 2022, the company completed a financing round of $500 million (approximately 486 million euros). This financing, led by private equity fund Astorg and BeyondNetZero among others, enabled EcoVadis to achieve unicorn status. Even if the company remains discreet about its valuation, CEO Frédéric Trinel asserts that his company is the first unicorn specialized in CSR data in France. The greentech now aims to continue its ascent by expanding even further internationally and strengthening its artificial intelligence tools.
Qonto, the bank for SMEs and the self-employed
The main aim of this new-generation bank is to facilitate transactions for SMEs and the self-employed, by offering an all-in-one financial solution. Thanks to it, you can open an online account in a matter of minutes, facilitate your accounting or take advantage of the best "FinTech" and "SaaS" tools. In other words, Qonto simplifies your banking transactions by offering an intuitive, high-performance platform, as stated on its web page: "Qonto is simpler, faster and its pricing is more transparent than that of a traditional bank".
To join the closed circle of French unicorns, last January Qonto raised Series D financing round of 486 million euros. The deal even put the company at the top of the unicorn rankings for a few hours, with a valuation of 4.4 billion euros. This financing should help the company to strengthen its workforce by recruiting 2,000 new employees between now and 2050. Thanks to them, Qonto hopes to continue its development on the Old Continent and offer its customers ever more tailored services.
Ankorstore, the marketplace for independent retailers
Specialized in e-commerce, the Ankorstore already brings together 200,000 independent retailers and 15,000 brands. The company's meteoric rise attracted the attention of many investors.
Since January 10, 2022, Ankorstore has been a French unicorn, thanks to 250 million euros raised from Tiger Global and Bond from Tiger Global and Bond, reaching a valuation of $1.98 billion. This boost should enable the company to strengthen its workforce in Europe and continue its development.
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