Business Wire

Truffle Capital Unveils the Results of the 14th Truffle 100 Ranking: Software Companies Approach the Next Investment Cycle With Confidence


Truffle Capital unveils the results of its 14th Truffle 100 ranking. This is the barometer that is most frequently followed by software companies, and the most consistent software trends observatory.

Carried out in partnership with Teknowlogy, the study paints a picture of a group of French companies in good health, with good growth prospects, looking to the future with confidence.

  • Confidence in the future, because software companies are continuing to invest heavily in R&D and, in anticipation of future growth, are recruiting researchers.
  • Confidence in the potential of the French ecosystem, as 75% of managers surveyed do not expect to relocate their business (compared to 70% last year).
  • Confidence in their capacity to find finance for their growth plans. The numerous delistings show that software companies are finding the investment resources they need in other finance niches, where procedures take better account of the valuations and specific features of their operations.

While growth in turnover was only 3%, taking it to €9.3 billion, with investment of €1.2 billion in R&D over the year, profits increased by 4.6%. These figures show that the long history of almost uninterrupted growth highlighted by the Truffle 100 since 2004 is continuing.

Dassault Systèmes, Sopra Steria and Murex take the top three spots in the ranking, accounting between them for total turnover from publishing of €5.4 billion, and reflecting a trend towards consolidation within the sector.

Disaffection with the stock exchange is apparent. Since 1 January 2019, we have seen the exit of Harvest (in 52nd place) and Coheris (in 78th place), bringing the number of listed companies down to 14, its lowest historic level since the creation of the Truffle 100.

Bernard-Louis Roques, General Manager and Co-founder of Truffle, commented on the results: 'Business growth demonstrates that the sector is highly resilient. Not only are French software companies growing more rapidly than GDP, but their investment in jobs and R&D is growing faster than their sales. This continuous focus on investment, particularly in research, and the resistance to relocation are helping French technology to flourish, translating into confidence in its ability to build future growth. From this viewpoint, the fact that ten of them have been delisted over two years reflects two things: software companies are not satisfied with the valuation the market gives them, and they know they are supported by strategic shareholders, particularly from the private equity sphere, who are ready to invest. No doubt many surprises lie in store over the coming years, and Truffle Capital, through the Truffle 100, will be best placed to monitor them.'

The 14th edition of the Truffle 100, and rankings from previous years, are available at:


About Truffle Capital

Established 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. Headed by Patrick Kron, alongside Dr Philippe Pouletty and Bernard-Louis Roques, Co-founders and General Managers, Truffle Capital manages assets of €500 million. Since it was created, it has raised nearly €1 billion and has supported over 75 companies in the digital technology and life sciences sectors. At the end of 2017, Truffle Capital successfully closed its first two new institutional funds, Truffle Financial Innovation Fund and Truffle BioMedTech Fund, and also closed an RIF (retirement income fund).

For more information: – Twitter: @trufflecapital

The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.

Contact information

Maud Lazare |

DGM Conseil | +33 1 40 70 11 89

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Investment in Identity Management Grows by 45 Percent Year-Over-Year, Highlighting its Increasing Importance to Organizations Globally17.9.2019 23:00:00 EESTPress release

Optiv Security, in partnership with Momentum Cyber, has announced findings from its 2019 Security Technology Spend Insights Report, the leading barometer for evaluating technology buying trends. The report also includes Optiv’s top five technology trends and technology areas to watch, based on engagements with 7,000 Optiv clients across industries worldwide. The 2019 Security Technology Spend Insights Report examines the rise in spending on various security disciplines from 2017 to 2018: Identity Management Spending on Identity Management (IM) as a category grew by more than 45 percent Two subsets of IM saw significant individual growth as well, privileged access management (PAM) grew by 25% and Identity and Access Management (IAM) grew by over 55% Vulnerability Management and Email Security Spending on each grew by more than 30% Data Protection and Cloud Security Spending on each grew by more than 25% “While the strong spending growth on identity management is not surprising, the magni

Libelium’s IoT Technology Helps to Achieve the Sustainable Development Goals of the United Nations17.9.2019 22:00:00 EESTPress release

Following the United Nations call for the Sustainable Development Goals (SDGs), Libelium promotes IoT technology as a tool to achieve prosperity while protecting the planet. Libelium values and encourages the prioritization of sustainability goals to maximize the impact that the IoT provides for a better world. Nowadays, IoT technology is contributing to the improvement of citizens’ quality of life and companies’ competitiveness. Investing in IoT technology directly impacts in manufacturing cost reduction, better use of natural resources preservation, product quality improvement and regulatory compliance. The report published by Libelium summarizes how IoT technology works in favour of the SDGs and which projects have been deployed worldwide according to each objective. Libelium has identified the benefits that IoT technology offers for goals such as zero hunger, good health, clean water, sustainable cities, industry, climate action, life on land and life below water. The objective of

LIWEST Becomes Latest Austrian Operator to Evolve IPTV Security with Verimatrix and Ocilion17.9.2019 20:31:00 EESTPress release

IBC 2019 (#5.A59) – Verimatrix, (Paris:VMX), a global provider of security and business intelligence solutions that protect content, devices, applications and communications, today announced that LIWEST Kabelmedien has deployed Ocilion’s IPTV solutions integrated with Verimatrix security to enable more flexible and future-proof video delivery models. LIWEST joins kabelplus and Salzburg AG as the third Austrian operator to leverage the combined strengths of the partner companies in recent months. Facing a rise in streaming, LIWEST modernized its IPTV technology to stay at the forefront of a highly competitive market. The operator selected Ocilion and Verimatrix, recognizing how the partnership would essentially provide a flexible, one-stop shop solution. In addition to supporting set-top box (STB), tablet and smartphone delivery, the deployment marks a milestone for Ocilion in enabling Amazon Fire TV and Apple TV streaming. “As Austrian subscriber behaviors shift away from traditional l

Compute Express Link Consortium (CXL) Officially Incorporates; Announces Expanded Board of Directors17.9.2019 19:34:00 EESTPress release

Today, Alibaba, Cisco, Dell EMC, Facebook, Google, Hewlett Packard Enterprise, Huawei, Intel Corporation and Microsoft announce the incorporation of the Compute Express Link (CXL) Consortium, and unveiled the names of its newly-elected members to its Board of Directors. The core group of key industry partners announced their intent to incorporate in March 2019, and remain dedicated to advancing the CXL standard, a new high-speed CPU-to-Device and CPU-to-Memory interconnect which accelerates next-generation data center performance. The five new CXL board members are as follows: Steve Fields, Fellow and Chief Engineer of Power Systems, IBM; Gaurav Singh, Corporate Vice President, Xilinx; Dong Wei, Standards Architect and Fellow at ARM Holdings; Nathan Kalyanasundharam, Senior Fellow at AMD Semiconductor; and Larrie Carr, Fellow, Technical Strategy and Architecture, Data Center Solutions, Microchip Technology Inc. Chairman of the CXL Consortium, Jim Pappas, discussed the recent developmen

Community Welcomes Two New Premium Media Brands17.9.2019 19:00:00 EESTPress release

Community, powered by Xandr, welcomes two additional premium media brands; Bloomberg and Vudu, building upon previously announced partners. Current Community partners include, WarnerMedia’s CNN, TNT, TBS, truTV, B/R Live, Otter Media, and Warner Bros., as well as A+E Networks, AMC Networks, Cheddar, VICE, Hearst Magazines, Newsy, Philo, Tubi, and Xumo. Built on Xandr’s powerful technology and consumer insights, Community simplifies and enhances an advertiser’s connection to unique audiences. Community enables advertisers to reach their audiences at scale in a brand-safe, privacy-protected, and premium video environment. “Community is successful because of its partners and the premium content they produce every day,” said Brian Lesser, CEO of Xandr. “Together with our Community partners, we are helping advertisers reach interested consumers on whatever device they watch their favorite show. With Xandr’s powerful technology and unique consumer insights, combined with the best content in

EP Henry Introduces World’s First Precast Products Manufactured with CO2-Cured Solidia Concrete17.9.2019 18:40:00 EESTPress release

EP Henry, the leading manufacturer of unit concrete products in North America, in collaboration with Solidia Technologies®, a cement and concrete technology start-up, has introduced the world’s first products made with low-carbon Solidia Concrete™. Using LafargeHolcim’s Solidia Cement™ as its base, which requires lower temperatures during production and thereby emits less carbon, Solidia Concrete products are cured with CO2 instead of water, reducing their overall carbon footprint up to 70% compared to traditional concrete. This press release features multimedia. View the full release here: EP Henry's CO2-cured Solidia Concrete™ pavers made from low-carbon Solidia Cement™ at the Elsmere, Delaware Fire Company (Photo: Business Wire) “Our reputation as the leader in the industry has led to some significant partnerships in new product and technology development,” said EP Henry President Eric Long. “This most recent—and perhaps most

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom