Top 100 European Software Companies Revenue up 20% in year

The top 100 European Software companies in the Truffle Partners 7th Annual Report, ‘European software vendors ranking 2012‘, revenues have grown an average of 20% in the year since its last report was produced to 37.2 €B for Truffle 100 in 2012. Revenue was concentrated in the larger businesses though with 76% of revenues derived from the Top 25 companies, up from 63 % last year.

Germany, home of SAP, dominates the list of countries by revenue, accounting for 49% of the revenue of all companies in the 100. The list of companies with six; SAP, Dassault Systemes, Sage UK, Wincor Nixdorf, Hexagon achieving sales of over €1 billion per annum. Only 2 out of 5 companies has sales of over €100 million Euros however and this poses serious questions about the ability of technology companies in Europe to scale.

“If the Truffle 100 was just one company it would not be as big as Microsoft MSFT, and its growth is no faster. We are not closing the gap.

“If you compare the size of the industry in Europe compared to GDP, and compare it with the U.S., Europe [industry] should be five or six times bigger. There is a lack of support in most geographies. France is an example, but it is not alone.” Bernard-Louis Roques, Managing Partner, Truffle Partners quoted in Ben Rooney, Wall Street Journal.

Who will fund such a small group of potential public and private companies in Europe?

Meet some of them at our forthcoming BLN CEO Tales: Funding growth technology companies in Europe – the IPO option. Drinks networking and discussion debate. 21st November, 2012, 6-9pm.

We will hear from speakers; entrepreneur, angel/VC, public market investor and adviser – all with strong points of view on this critical issue.

  • 21st November, 6-9pm.
  • Drinks networking, panel discussion and audience Q&A, drinks networking.


  • Stuart O’Gorman, director of Technology Investment, Henderson Global Investors
  • Robin Klein, Index Ventures, The Accelerator Group.
  • Peter Campbell, CFO, Mimecast.
  • Ting Le Deng, Director Technology, UBS Investment Bank

Our supporters for this CEO Tales: Funding growth technology companies in Europe – the IPO option, are: