Accel has been actively investing in emerging technology companies for nearly four decades. Over time, we have seen incredible innovation across verticals like cloud, open-source, security, and fintech – and we believe developers are at the heart of this change.

Developers are key decision-makers in what technology is adopted, often responsible for testing, buying, and evangelizing new products. Their ability to work quickly and with precision also directly impacts a company’s success, so in the last decade, an entire ecosystem of developer-focused tools and platforms have emerged to empower them, AssemblyAI, Mux, Sentry, Snyk, Tailscale, and Vercel to name a few. Many were designed by developers themselves. When developers build for developers, magic happens. They intimately understand their customer, and can quickly amass a cult-like following.

Recent studies estimate the number of developers worldwide will reach 45 million by 2030. The majority of these developers will enter the field early in their careers. Some will further the success of existing solutions, some will go on to build their own exceptional companies. Either way, it is clear that the importance of the developer is unmatched, and we look forward to what’s to come.

Announcing DX 2022: The Developer Experience

On July 21st in San Francisco, we are hosting DX 2022, an intimate event for developer-focused companies to gather and discuss the future of the modern developer. Attendees will have the opportunity to meet industry peers and hear experts at companies like Chainguard, Mux, Sentry, Shippo, Snyk, Tailscale, and Vercel discuss the developer experience.

Registration is now open for anyone in the developer space to request to join us. We hope to see you there!

Europe and Israel’s startup founder factories

Former employees of European and Israeli unicorns are founding the next wave of startups as the region’s flywheel of talent continues to spin. Join us as we explore trends from the emergent companies, and examine the journey from unicorn employee to tech founder. Download the report below.

Download the latest founder factories report

At a glance

1,451

The number of tech-enabled startups founded by former employees of 248 European and Israeli unicorns

59%

The percentage of these new startups that have already gone on to secure private funding

55%

More than half of companies built by former employees were founded in the same city as the unicorn, resulting in thriving tech hubs developing in cities where unicorns have been created

Insights

“

The European and Israeli tech ecosystem continues to be a powerhouse of innovation and ambition. Despite a difficult macroeconomic climate, we're seeing a surge in entrepreneurial talent, particularly in sectors such as fintech and AI. Our data shows a striking trend: nearly 1,500 startups sprouted from the roots of European and Israeli unicorn companies, once again demonstrating that they continue to be thriving founder factories. This region is not just launching startups; it's creating seasoned founders equipped with deep industry insights and, in the current environment, the experience to build enduring and resilient businesses that can achieve sustainable growth.”

Harry Nelis, Partner at Accel

2023 Key takeaways

While Spotify, Delivery Hero, Zalando and Criteo continue to top the list, producing 151 tech-enabled startups between them, a new wave of founder factories is on the rise
Fintech unicorns dominate the top 10 as Revolut, Klarna, N26 and Wise rank fifth, sixth, seventh and ninth respectively
35% of tech startups to spring out of fintech unicorns were also in fintech

Click here to read more takeaways and insights from the 2023 report