Mission French Tech has unveiled the 2024 class of the French Tech Next40/120 program, featuring 120 leading French technology companies. The program, launched in 2019, aims to nurture technology leaders capable of competing on an international scale.
A particularly competitive selection based on income criteria
The French Tech Next40/120 Class of 2024 stands out for the spectacular revenue growth of the companies selected. The selection criteria have been rigorously revised, particularly with regard to sales. While the entry threshold based on fundraising remains similar to that of 2023 (around 40 million euros), the sales threshold has been significantly raised. Last year, 31 companies posted net sales in excess of 100 million euros, compared with 19 in 2023.
To join the French Tech 120, companies had to achieve net sales of at least 40 million euros in 2023, compared with 20 million euros for the previous class. In total, the 120 companies in the class of 2024 generated net sales of over 10 billion euros, an increase of 32.5% on the previous year.
Growth that creates jobs
Despite a difficult economic climate and tighter funding, companies in the Class of 2024 continued to recruit in 2023. They employed 36,900 people at the start of 2023, and this figure rose by +8.4% to 40,000 employees, including 27,700 in France.
Diversified growth models
Major fund-raising in key sectors
The French Tech ecosystem was boosted by solid investment, rising from 7 unicorns in 2019 to 33 in 2024, already surpassing the target of 25 unicorns set by the French President for 2025. Although 2023 saw a consolidation with 8.3 billion euros raised, down -38.5% on 2022, France maintained its top position within the European Union.
Notable fundraisings took place in key sectors such as ecological transition (Verkor), Artificial Intelligence (Mistral AI), and quantum (Pasqal). Together, the top 10 start-ups in the French Tech Next40 with the highest fundraising figures since 2021 have raised 6.3 billion euros.
Growth without major fund-raising
Some companies have distinguished themselves by their ability to grow without major financing rounds. The class of 2024 includes 11 companies that are self-financed or have raised less than €10 million since their creation, representing almost 10% of the class, all of which have annual revenues in excess of €40 million.
Start-up profitability
Nearly a third of the start-ups in the Class of 2024 (excluding DeepTech) are profitable, confirming the relevance of their business model. Companies like Weezevent and Ilek, included in the Next40 on the basis of their sales figures, show that innovation can be synonymous with commercial success.
International expansion
French Tech Next40/120 start-ups continue to strengthen their international presence. In 2024, 88% of these companies have a physical presence or commercial activity abroad. They generate 35.6% of their revenues abroad, or 3.7 billion euros in 2023.
External growth
Nearly half of the companies in the French Tech Next40/120 have already carried out external growth operations to accelerate their development. In 2023, they made 22 acquisitions, including 5 abroad.
Diversity and innovation
The Class of 2024 covers 11 major business sectors, illustrating the diversity and vibrancy of innovation in France. The GreenTech sector is particularly well represented, with 24 companies, demonstrating France's commitment to the challenges of the ecological transition.
Digital sovereignty and DeepTech
DeepTech companies account for over 20% of the French Tech Next40/120, reflecting the ambition of France 2030. These companies are innovating in key sectors such as Artificial Intelligence, quantum and healthcare, contributing to France's technological and industrial transformation.
The French Tech Next40/120 start-ups are key players in the French economy, capable of meeting the challenges of tomorrow. The diversity of their sectors and their capacity to innovate make this promotion a pillar of France's economic sovereignty.
The French Tech Next40/120 class of 2024 is a testament to the vitality and innovation of French start-ups. With companies active in a wide range of sectors crucial to France's economic and technological sovereignty, this new generation of leaders is well positioned to contribute to tomorrow's major challenges, both at home and abroad.
