We’re so excited to welcome Ivan Zhou as our newest early-stage partner

This is a homecoming for Ivan, who was founder and CEO of Mayhem, a social gaming platform we’d backed building AI-insights and analytics for gamers. Following their acquisition by Niantic, he led product for their game platform and built out new social and community features natively across their ecosystem. Put simply, Ivan has spent years thinking about the formative themes shaping how we build consumer applications and technology today.

I was fortunate to back Ivan with my first series A check at Accel, and feel even more so today as he begins as a partner with our early-stage team. His journey to Accel maps to a common pattern for us: a deep, trusted relationship, a history of collaboration, and a mutual drive for excellence.

Ivan is already a trusted advisor to our early investments and company-building efforts. His blend of persistent truth-seeking and infectious optimism makes him a natural partner to founders. It’s why so many have found their way to him for guidance and why we’re confident in the impact he’ll make on our firm and the companies he invests in.

We’re thrilled to welcome Ivan to the team, and excited for the road ahead.

– Amit and the Accel Partners

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

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Welcome, Zhenya Loginov!

At a glance

1,451

59%

55%