In France, Business software went from strength to strength, garnering $7.1bn VC investment in 2022, from just $2.3bn two years earlier. However, over the last year investment has dropped by 59%. Business software investment in France increased by 40.6% to $7.2bn in 2022, surpassing the 7% increase in investment seen across Europe as a whole. Both France, and Europe saw a dramatic downturn in investment in 2023 of -59%

Venture capital investment ($bn) into all French tech companies (right) and French Business Software tech companies (left)

With strong investment in Business Software over the past few years, and a record value in 2022, French companies in this sector make up a lower proportion of the tech ecosystem value (17%) than the European average (30%) - illustrating room for growth. The diversity and strength of French tech as a whole provides fertile ground for an evermore competitive domestic business software ecosystem.

Business software value by company valuation in France (left) and all tech value by company valuation in France (right)

The value of French business software exits picked up in 2023, totalling $5.6bn, and representing 41% of all French tech realisations.

Value of Business software company and All tech exits in France (left) and number of Business software company exits in France (right)

Business software is an evolution from B2B SaaS and Cloud

Business software takes into account emerging technologies such as AI, quantum, and blockchain and their impact on our areas of business software focus, which include:

• future finance,
• industry OS,
• cloud computing, and
• modern enterprise

The French Business Software Report helps you to understand the headwinds, and tailwinds to continued growth in this area, through increasingly turbulent economic times.

To read more, download the report below.

2024 Outlook