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Let's get straight to the punchline. Dealroom's analysis found that a Seed-funded company building from Europe has the same probability of scaling to a $1B+ valuation as the average Seed-funded company building from the US. According to the funnel analysis, 13 of the 1,064 companies in the starting cohort have gone on to achieve a $1B+ valuation, equivalent to 1.2%. In other words, a company raising a Seed round of funding in Europe has about a 1-in-a-100 shot of becoming a unicorn.

Becoming a unicorn

1 in 100
company raising a Seed round have a shot of becoming a unicorn

Share of companies in initial cohort that reached a $1B+ valuation or higher, by region


  • Europe
  • United States