Amid market turmoil, European B2B SaaS companies raised €3.4B in June, reaching its highest level since January. In addition, 246 deals were closed, reaching the all-time-high of the last 12 months. The average round size was €14M.
Rounds of €1M to €5M were most common with 82 deals (37%) announced in that category, followed by deals of less than €1M which accounted for 23% (50), and deals of €5-15M (22% or 46 deals.)
Deals between €40-250M accounted for almost half of the money deployed in European B2B SaaS firms last month. Rounds larger than €250M became less common if we look at April and the cumulative value of last year, when these ticket size rounds represented more than 20% of the money raised on average. Unlike in May, when there were no large deals of €250M or more, in June, there was one round larger than €250M, which accounted for the 14% capital deployed.
June’s largest rounds were raised by the unicorn EcoVadis (€455), reaching a one billion valuation, followed by Trade Republic (€250) and CoachHub (€200). Besides Ecovadis, Backbase was the second unicorn minted last month, raising €120 and reaching a valuation of €2.8B.
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