Truffle Capital and tecknowlogy Group Unveil the Results of the 15th "Truffle 100" Ranking
On the face of it, the "Truffle 100" 2020 has drawn the curtain on a decade of continuous growth, which has been abruptly halted by the Covid-19 pandemic:
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- Several records were set in 2019: cumulative turnover for the sector was €10.8bn, total workforce in the sector stood at 157,000 jobs including 25,000 in R&D. Profitability at 11.1 % is very close to its historical high of 2006-2007. Moreover, buybacks and stock market transactions were sharply higher.
Despite the fact that the solid foundations built over the last decade will be exposed to a brutal shock in 2020, the Truffle 100 clearly shows that the areas in which software publishers have invested the most extensively are those that will be the most vital to withstand the current crisis and support the economic recovery:
- Thanks to their profit margins, which have returned to previous levels, software publishers have been able to ensure continuous research in crucial areas (in particular, the Cloud and artificial intelligence, which are the two major market trends) to support the transition to teleworking in the economy of tomorrow.
While 62% of software publishers forecast a downturn in 2020, 94% expect a return to growth in 2021.
Commenting on the 15th edition of the "Truffle 100", Bernard-Louis Roques, General Manager and Co-founder of Truffle, declared: "Software is a digital business and software publishers have been among the quickest to adapt to the crisis. In just a few months, Covid-19 brought about a forced acceleration in terms of the company's digital transition, with an irreversible digitalization of uses and organizations. Publishers will play a vital role in the development of the "post-Covid world". Finally, I would like to thank Cédric Ô, the French Secretary of State for the Digital Economy, for agreeing to sponsor the 15th edition of the "Truffle 100", which is more than a just an overview of the past, it is a leading indicator of the future."
Xavier Negiar, Chairman of the consulting and analysis firm teknowlogy Group which carried out the study and analysis, added:
"As grey as this picture may be, there has been a major trend in this software market to prepare for the end of the crisis. Now is the time to develop programs that are capable of reviving the market. And to achieve this, surely the best approach is to help companies find their own way out of this crisis."
Cédric Ô, the French Secretary of State for the Digital Economy concluded:
"Software publishers are at the core of all these changes taking place in our societies. They act as stakeholders as well as sentinels and open up new pathways for improvement for the companies they support, the employees who use their solutions and for each and every citizen, which result in significant transformations to life and work. It is this key role that explains the economic strength and resilience of this strategic sector, which is central to France's entrepreneurial fabric and excellence.
The 15th edition of the "Truffle 100", as well as the previous editions, can be viewed on the following website: https://www.truffle100.fr/
About Truffle Capital
Founded in 2001, Truffle Capital is an independent European venture capital company, specializing in life sciences (BioTech and MedTech) and breakthrough technologies in the IT sectors (FinTech and InsurTech). Truffle Capital’s mission is to support the creation and development of young innovative companies capable of becoming tomorrow’s leaders. The company is chaired by Patrick Kron and managed by Dr Philippe Pouletty and Bernard-Louis Roques, co-founders and General Managers. Since its creation, Truffle Capital has raised nearly €1.1 billion and has supported over 70 companies in the digital technology and life sciences sectors. In 2019, Truffle Capital announced it had raised nearly €400 million in new institutional funds.
About teknowlogy Group
For more than 45 years, PAC and CXP have been providing visionary and meticulous support, helping stakeholders to grow and adapt in what has become today's IT ecosystem, as well as assisting companies seeking to accelerate their digitalization process. PAC's M&A teams serve the investment fund community both with regard to acquisitions and in the analysis of the coherence of the BP (Business Plan) of their holdings in view of market trends. PAC's teams of analysts also advise ESNs, software publishers and IT service providers in terms of deciphering technological needs to enable them to adapt their strategy to offer solutions and services, owing to their oversight of European and international markets. Thanks to SITSI®, its international platform for real-time monitoring, PAC maintains an up-to-date vision of technologies and markets, and provides its customers with strategic analyses and solution benchmarks for a 360° outlook of the IT market. CXP's Project Consulting teams support TIEs and SMEs in drafting specifications, identifying IT service providers, selecting and implementing solutions adapted to their digital transformation challenges. Thanks to the MyTeknow site - CXP's platform - users now have access to a real-time monitoring of the IT services on offer in France to TIEs and SMEs.
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