The Scaleup Report

Global Scaleup Mapping

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The foremost data provider on startups, growth companies, and tech ecosystems globally. Dealroom.co works with many of the world’s most prominent investors, entrepreneurs and government organizations to provide transparency, analysis and insights on startups and venture capital activity. Here are the key facts and figures about the global scaleup landscape.


Key Numbers

  • 12.4K startups have received over $50 million in disclosed VC investment. See the list of startups which joined the scaleup club in 2023 here.
  • Startups founded between 2006 and 2016 account for more than half of all scaleups, with the 2013–2016 cohort the largest, with 3.7K scaleups.
  • 4.1K (33%) of all scaleups were founded by serial founders.
  • BioPharma is the leading industry by number of scaleups globally, with over 1.8K scaleups.
  • Fintech is a close second, with 1.7K scaleups globally.
  • There are 2.2K global Deep Tech scaleups, which includes scaleups from a variety of industries.
  • 1.1K scaleups are impact-focused (9% of the global total)
  • 2.4K scaleups have been acquired (19% of the global total).
  • 1.6K scaleups have IPO'd (13% of the global total).

Geographical Distribution

  • 7.5K (60%) of all global scaleups are based in North America.
  • 990 (8%) of all global scaleups are based in E.U. countries.
  • 9.9K (79%) of all scaleups are based in OECD countries.
  • The U.S., China, and the U.K. are the top countries by number of total scaleups , with 7.1K based in the U.S. That’s 4.8x more scaleups than China and 11.5x more than the U.K.
  • 623 scaleups are based in the U.K., 35% of the European total.
  • 65 scaleups were founded or are currently based in Africa.
  • 103 scaleups were founded or are currently based in Australia or New Zealand.



Startup Output

  • Startups that have become scaleups since 2021 account for 2% of the total stock of currently active funded startups in North America.
  • 6% of North America's active and funded startups have become scaleups since 2021.


*Startup output is calculated as new scaleups since December 2020 / all funded startups.

**China is excluded from this analysis as the numbers are skewed by our limited reach of VC funding at early stage for Chinese startups, which results in a higher startup output result, mainly driven by the smaller pool of funded startups in China.


Scaleups by Industry

  • BioPharma (the sum of Biotech and Pharma) is the leading industry by number of scaleups globally, with over 1.8K scaleups.
  • Fintech is a close second industry, with 1.7K scaleups globally.
  • There are 2.2K Deep Tech scaleups, which includes scaleups from a variety of industries (from energy to robotics to transportation to space, etc.)
  • 1.1K scaleups are categorized as Impact, with 360 qualifying as both Impact and Deep Tech.
  • Approximately 18% of all global scaleups are Deep Tech and ~9% are Impact.


VC Investment in Scaleups

  • VC investment into scaleups surged to $576B in 2021, up 2.2x from 2020.
  • 2022 remains the second best year on record with $338 billion raised despite a drop of 41% since 2021. This is a more significant decrease than for overall global VC (32%).
  • Over $114 billion has been raised so far in 2023.
  • The top countries for VC investment into scaleups are the U.S., China, India, the U.K., and Germany.
  • North America makes up 55% of all VC investment raised in scaleups, with the U.S. alone contributing 53%. Since 2020, the U.S. has received more VC investment than the rest of the world combined.
  • Asia concentrates 31% of all VC investment raised, and Europe makes up 12%


Scaleup Valuation

  • Scaleups are now worth $17 trillion — 53% of the value of all tech companies.
  • The top countries by combined scaleup valuation are the U.S., China, India, the U.K., and Canada.
  • North American scaleups are worth $11 trillion, or 65% of global scaleup valuation, a share increase of 5% since 2018. The U.S. is worth 64% of total global valuation in 2023 so far.
  • Asian scaleups are now worth $4.2 trillion, 25% of global scaleup valuation and a share decrease of 7% since 2018. China is worth 17% of total global valuation in 2023 so far.
  • European scaleups are now worth $1.3 trillion, 8% of global scaleup valuation and a share increase of 2% since 2018.