European startup studio eFounders has looked back at the first half of 2020 to share some metrics about its portfolio companies. The startup studio that is focused on building software-as-a-service enterprise startups has now launched 25 companies in total. Those startups have raised $148 million in 2020 alone.
You may remember that the portfolio of eFounders reached a total valuation of $1 billion late last year. After those new funding rounds, the consolidated valuation of eFounders companies is now at $1.5 billion.
And because we’re talking about SaaS, the monthly recurring revenue has also doubled year over year compared to the first half of 2019. Overall, those companies now generate around $10 million in monthly recurring revenue.
Of course, some companies are doing better than others. In particular, Front and Aircall have raised $59 million and $65 million respectively. Back when I wrote on those stories, Front said its valuation had quadrupled compared to its previous funding round, while Aircall said it had done more than 3x on the valuation.
Slite, Bonjour, Folk, Cycle and Equify have also raised smaller funding rounds. Yousign, an e-signature startup, has also experienced an important growth bump with demand exploding.
eFounders seems particularly well positioned for the current situation. Due to lockdowns around the world, many companies have been looking at tools that help them work remotely and work more efficiently. “We build the future of work,” eFounders writes on its website.
“The changes that were naturally, but slowly, occurring in companies for a decade have accelerated in a matter of months. We've certainly gained a few years of digitalisation in the space of a quarter,” eFounders co-founder Thibaud Elziere said in a statement.
If you’re not familiar with eFounders, the company first comes up with an idea for a new company and hires a founding team. The core team works alongside the founders for a year or two to define product-market fit — eFounders keeps a stake in those startups.
After that initial launch, portfolio companies usually raise a seed round, which helps them build a solid team. eFounders can switch their focus and start working on new startups.
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