We’re excited to lead the Series B in Radar, a location data platform company. They’re fast becoming the standard for how developers manage and express location-based experiences in mobile apps, all in a privacy-first way.

That need is growing immeasurably. So many real-world actions now start in an app: ordering food, hailing a car, checking in at the gym — apps today mediate all kinds of real world outcomes. Location is fast becoming a core input for anyone delivering engaging, personalized customer experiences. But getting there requires abstractions that handle the shape and complexity of location data. To do so in a way that honors user privacy is a complex technical challenge. For this, Radar guides the way.

Per our "APX" (APIs x everything) thesis, great product teams focus on their core value propositions, handing off complex pieces of an application to the experts. We've seen breakout abstractions in payments (Braintree, Stripe), messaging (Messagebird, Twilio), data (Segment) and infrastructure (AWS). There are no better location services experts than Radar. Nick, Coby and Tim met building products at Foursquare, the OG for this generation of location data. We led Radar’s seed in 2016 and are lucky to be leading their Series B.

Radar has a rich product roadmap, and lots to do as it builds the community. We're hiring across the board in to execute on it. Come find us in Brooklyn!

Vas

37.782170, -122.394750

(Accel's San Francisco office :)

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

Our Continued Investment in Corelight: The Industry Standard for Open Network Detection and Response

Our Series A in Vorlon: Detect and Remediate API Security Threats

Our investment in Sprinto: Turning Compliance into a Driver of Growth for Businesses

At a glance

1,451

59%

55%