Scaleup programmes
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Accel
Finance and Risk Capital
Impact for scaleups
32
UK companies backed
54%
Follow-on investments
19%
Investments outside of London
30
Growth-stage investments
Key sectors
Describing itself as a “global partnership to work with the most innovative companies,” Accel is an early and growth-stage VC firm which invests in technology companies in the US, Europe and India.
Between January 2015 to June 2022, the fund participated in 70 fundraisings for 32 UK-based companies.
It has recently invested in UK scaleups such as the fintechs OpenGamma, Genesis, SuperPayments, Monzo and Soldo, the car buying platform Carwow, design and collaboration platform Gravity Sketch, and zero food waste app Olio. The great majority of Accel’s investments in the UK are in companies based in London but it has also supported the north-west software development platform Raycast.
Between January 2015 to June 2022, the average turnover of companies supported by Accel was £89.7m with an estimated average number of 245 employees.
In 2022, the firm closed a $4bn global, later-stage fund to provide expansion capital to promising companies within the firm’s global portfolio.
With offices in San Francisco, London and India, the firm uses its network to enable portfolio companies to hire senior leaders, expand into new markets, and provide introductions to new customers. Accel runs events for its portfolio to encourage the sharing of good practice, such as its global SaaStock event, and publishes its annual Euroscape which lists the top 100 SaaS companies in Europe and Israel.
