Employment in Amsterdam’s tech sceneReport commissioned & supported by:

November, 2017

Dealroom helps corporations, investment firms and governments to track innovative companies and identify

strategic opportunities, through data-driven software

Contents

1. Introduction

2. Headline employment data

3. Employment growth

About this report

4

Introduction

▪ Amsterdam rapidly became a top-tier tech hub in Europe. The city is home to world-class tech companies such as Adyen, Takeaway.com, Booking.com, TomTom and rising stars like Picnic, MessageBird and Bux

▪ Leading global tech companies have made Amsterdam their European HQ such as: Uber, Netflix, Tesla

▪ What’s the impact on the overall Amsterdam job market? How many people work at startups, scaleups, and other tech companies in Amsterdam?

Data

▪ This report is prepared by Dealroom and commissioned by StartupAmsterdam, who also provided hands-on support with data and data-cleaning

▪ A bottom-up approach (company-by-company) was applied by using Dealroom’s own database as foundation, with additional desktop research

▪ StartupAmsterdam provided valuable input and made supporting data available

Scope

▪ This report focuses exclusively on tech-centric companies in Amsterdam, Schiphol Airport and Amsterdam Zuid-Oost, between 2015 to 2017

▪ Included are startups (2-50 people), scaleups (51-500 people), grownups (500+) and foreign tech companies with significant presence in Amsterdam

▪ Excluded are companies with one employee. Not counted are tech jobs at multinational companies (Shell, Philips, ING…)

Feedback

▪ Most of the data used in this report is available for free via he Amsterdam Startupmap, a crowd-sourced & free resource, powered by Dealroom

▪ Dealroom anticipates doing recurring updates of this study to monitor the evolution of Amsterdam’s tech ecosystem

▪ Feedback or questions on this report are encouraged, via support@dealroom.co. Finally, please feel free to share this report!

Tech is a major driver of job growth & other insights

5

▪ Insight #1: About 60K people work at 1,052 tech companies in Amsterdam, thus representing 11% of the total 527K job market in Amsterdam (1)

▪ Insight #2: 756 companies were identified as startups (2-50 people), 263 as scaleups (51-500 people), and 33 as grownups (500+ people)

▪ Insight #3: Booking.com, TomTom and Adyen together employ nearly 6K people in Amsterdam. The 30 largest home-grown companies represent 16K jobs (= 48% of home-grown jobs and 26% of total jobs)

▪ Insight #4: 859 companies are home-grown, representing 55% of all 60K jobs, while 184 companies are major foreign tech companies with presence in Amsterdam (Uber, Netflix, ….) representing 45% of jobs

▪ Insight #5: The main job growth drivers are home-grown startups & scaleups, growing jobs by 13% per year between 2015 and 2017, and foreign tech companies growing jobs by another 9% per year (2)

▪ Insight #6: Over 10K jobs were added in two years, making tech a major driver of job growth, matched only by the hospitality sector (restaurants, bars, hotels), well ahead of finance and other major sectors

▪ Insight #7: Venture capital investment activity in Amsterdam has tripled in the past four years. At least 288 startups & scaleups in Amsterdam are backed by venture capital funds

▪ Insight #8: Venture capital has a visible positive impact on job growth. In 2016 Dutch VCs raised records amounts of capital which is now available to be invested in future rounds

Source: Dealroom.co custom research. Numbers should be treated as indicative estimates. Exact numbers are provided for transparency & reconciliation.1. City of Amsterdam’s ARRA database.2. Foreign tech company data based on ARRA numbers spanning years 2011 to 2016.

Job market

Composition

Growth

Venture capital

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Get in touch with us for more information

Julien Puls

Analyst

julien@dealroom.co

Phoenix Bajaj

Analyst

phoenix@dealroom.co

Marco Squarci

Analyst

marco@dealroom.co

Yoram Wijngaarde

Founder & CEO

yoram@dealroom.co

If you like this report and are hungry for more data, get in touch with the authors:

6

Contents

1. Introduction

2. Headline employment data

3. Employment growth

Over 60K jobs at tech companies in Amsterdam, of

which more than 55% jobs at home-grown companies

Source: Dealroom.co custom research, City of Amsterdam. Numbers should be treated as indicative estimates. Exact numbers are provided for transparency & reconciliation.1. Indicative estimates only. For more info see https://app.dealroom.co/lists/public/companies/10586 or https://startupmap.iamsterdam.com/lists/public/companies/10586

8

Local tech giants

(grownups)

Startups &

scaleups

Selected finance &

media companies

Foreign tech

companies (1) Multinationals Total jobs

Tech companies with >500

employees and HQ in Amsterdam

Tech-centric companies with

2-500 employees and HQ in

Amsterdam

Predominantly tech-driven sectors:

media, financial trading

Foreign tech companies with a

major presence in Amsterdam

Multinational corporations with HQ

in Amsterdam and major tech teams

Companies include:

Booking, TomTom, Adyen

856 companies including:

MessageBird, Picnic, Bux,

Ticketswap

Nine identified companies

including: Euronext, Flow

Traders, TMG, Binck

184 companies including:

Uber, Netflix, Tesla, Amazon,

Dell, Microsoft

Includes companies such as:

Shell, ING, ABN AMRO,

Philips, Randstad

5,628 22,171 5,342 27,123 n.a. = 60,264People:

5,628

27,799

33,141

60,264 -- 60,264

1,052 tech companies identified: startups, scaleups,

foreign tech majors and tech-heavy media & finance

9

Source: Dealroom.co and LinkedIn.Startups = home-grown tech companies with 2-50 people. Scaleups = home-grown tech companies with 51-500 people and foreign tech companies with 2-200 people.Grownups = home-grown tech companies more than 500 people and foreign tech companies with more than 8 people.1. Source: City of Amsterdam’s ARRA database.

Home-grown tech companies

Foreign tech companies in Amsterdam

Selected (tech-focused) media & finance

Total

Companies Jobs Companies Jobs Companies Jobs Companies Jobs

2-10 people 445 2,164 14 140 – – 459 2,304

11-50 people 311 6,954 101 2,337 – – 412 9,291

51-200 people 84 8,329 45 4,516 – – 129 12,845

201-500 people 16 4,723 15 5,333 3 845 34 10,901

More than 500 3 5,628 9 14,797 6 4,497 18 24,922

Total 859 27,799 184 27,123 9 5,342 1,052 60,264

Startups 756 9,118 756 9,118

Scaleups 100 13,052 160 6,993 3 845 263 20,890

Grownups 3 5,628 24 20,130 6 4,497 33 30,255

Total 859 27,799 184 27,123 9 5,342 1,052 60,264

Total Amsterdam (1) 114,000 527,000

% of total Amsterdam 0.9% 11%

60K jobs in tech represents roughly 11% of the total

Amsterdam job market of 527K jobs (1)

10

1. City of Amsterdam’s ARRA database.Note: according to ARRA’s defition of “ICT” sector, there are 58,692 jobs in Amsterdam as of 2017. This includes sectors not included in Dealroom’s defition of tech (e.g. traditional telecom) and excludes some new data on emerging startups and scaleups.

65K

60K

46K

37K

28K 27K

Creative industries Technology Finance Restaurants, bars &hotels

Rental & other B2Bservices

Retail

Technology jobs relative to other major sectors in Amsterdam, 2017 (1)

Concentration: the 30 largest home-grown tech

companies represent 48% of local employment

11Source: Dealroom.co custom research, City of Amsterdam.

Grownups

Startups & scaleups

Media & finance

People

Contents

1. Introduction

2. Headline employment data

3. Employment growth

5K 5K

17K

23K

5K 5K

19K

25K

5K 6K

22K

27K

0K

5K

10K

15K

20K

25K

30K

Finance & media companies Local tech giants Startups & Scaleups Foreign tech

2015 2016 2017

Home-grown startups & scaleups grew employment

by 13% and foreign tech companies by another 9%

13Source: Dealroom.co custom research, City of Amsterdam.1. Source: City of Amsterdam (ARRA data). Based on ARRA numbers spanning years 2011 to 2016.

+4% per year

People

+6% per year

+13% per year

+9% per year

0.4K jobs added 0.6K jobs added 5K jobs added 4K jobs added

Over 10K jobs were added in two years, making tech

a major driver of job growth in Amsterdam

14Source: Dealroom.co custom research, City of Amsterdam.1. Source: City of Amsterdam (ARRA data).

+10K

+10K

+8K

+7K

+4K

+3K

Restaurants, bars & hotels

Technology

Creative industries

Rental & other B2B services

Finance

Retail

Net jobs added between 2015 and 2017

445

311

84

16

3

– 100 200 300 400 500

2-10

11-50

51-200

201-500

501+

Most startups & scaleups are size 2-50 people, while

most people are employed by 11-200 size companies

15Source: Dealroom.co custom research, City of Amsterdam.

Number of companies

Team

siz

e

Number of jobs

Most companies have a team size of 2-50 people

2,164

6,954

8,329

4,723

5,628

– 2,000 4,000 6,000 8,000 10,000

2-10

11-50

51-200

201-500

501+

Companies size 11-200 employ

the most people (15K)

Predominant industries: enterprise software, fintech,

education, travel, transportation and medical

161. Selected top categories based on Dealroom methodology. Includes home-grown startups & scaleups only. Companies can be in more than one category. Source: Dealroom.co.

Number of companies (1) Number of jobs (1)

214

110

73

72

47

45

42

33

33

31

21

– 50 100 150 200 250

Enterprise software

Fintech

Education

Travel

Transportation

Medical

Cleantech

Jobs recruitment

Fashion

Food

Hosting

5,585

4,968

3,763

1,680

969

848

796

760

725

498

484

– 1,000 2,000 3,000 4,000 5,000 6,000

Travel

Fintech

Enterprise software

Transportation

Cleantech

Food

Hosting

Education

Medical

Jobs recruitment

Fashion

Increased venture capital investment activity in

Amsterdam has had a positive impact on job growth

17Source: Dealroom.co.

6 12 27

108 122

Seed Series A Series B Series C Acquisition

Increased VC investment activity …

29

59

74

107104

2012 2013 2014 2015 2016

Biggest jump in

team size after

series C

15 36

65

114 126

231

€0M €2M €5M €10M €20M €50M

€2M €5M €10M €20M €50M & more

… resulting in bigger startup & scaleup teams

Venture capital investment

activity in Amsterdam has

grown over 3x in past four

years

Number of VC rounds

Team size by total funding stage

Team size by total funding amount

Click to open the Amsterdam Startupmap

Most of the data used in this report is available via the

Amsterdam Startupmap, a crowd-sourced & free resource, powered by

Dealroom