Stockholm Tech by the Numbers

Several interesting statistics and stories about the Stockholm tech scene have emerged recently. We thought it would be convenient to gather some of that data in one post. What follows are some key figures about Stockholm and tech. If you have any datapoints you would like to add, please reach out via twitter: @sthlmitregion

Number of tech companies in Stockholm: 22,000

A recent study by Sweco shows that there are 22,000 tech companies in Stockholm. In all of Sweden there are a bit more than 42,000 tech companies according to the official Swedish statistics agency Statistics Sweden. This means that more than half of all tech companies in Sweden are located in the county of Stockholm.

Number of people working in tech in Stockholm: 197,000

A Google funded a study examined high-tech employment in the European Union and found that 18% of the workforce in Stockholm work in high-tech related jobs. That is the highest percentage in Europe. The same study shows that there are 197,000 people working in tech in Stockholm. [1]

tech_workforce_stockholm

Programmer is the most common job in Stockholm

The most common and popular job in Stockholm is programmer [2]. Data from Statistics Sweden shows that programmer and systems developer tops the list of the most common jobs in Stockholm overall.

Sweden has one of the highest shares of VC funding in Europe

The amount of VC funding in relation to GDP shows that Sweden has among the highest shares of VC funding in Europe. [3] For such a small country (by population), there are an amazing number of companies attracting venture funding. Data shows that in 2011, well over 300 million USD was invested in Sweden [3], that number has grown to $457 million in 2013:

Amount invested in Swedish companies during 2013: $457M

This amount was invested in 69 separate funding round during 2013. A majority of those where in seed rounds, followed by A-rounds and a few B-rounds. [4]

Sweden has 2% of population in Europe but received 15% of tech investments

This figure comes from Northzone but I couldn’t find the exact source (it is mentioned here). Either way, the point is that considering the size of the country, a proportionally large piece of tech investments are made here. It goes hand in hand with the previous datapoints.

Number of tech investors in the Nordics: At least 120

Broadening the scope to the Nordics, we find that there are at least 120 active tech investors here. Of those, over 80% are VCs, Investment companies (investing their own capital) and corporates. 28% are from Sweden, while 16% are from UK and 11% from Germany. [5]

Amount invested in the Nordics during 2013: $686 million

For the nordics, data shows that $686 million (€501 million) was invested in startups last year. This is 60% higher than the year before. Comparing the data for Sweden we find that more than 66% of the investment amount in the Nordics went to Swedish companies. [6]

nordic_investment_amount_2013

Notable recent investments

Here is a short list of recent investment in Stockholm tech companies/startups. These investments were all made in the past four months (feb-may 2014). The investors range from high-profile American VC firms like Sequoia Capital to media conglomerates like Bauer Media to local investors like Creandum and Northzone.

  • iZettle – $55 million
  • Lifesum – $6.7 million
  • Bloglovin – $ 7 million
  • Lookback – $ 2.2 million
  • Klarna – $123 million
  • Campanja – $5 million
  • Tictail – $8 million
  • Truecaller – $19 million

Unicorns – Billion dollar valuations

Sweden is a relatively small country, but still there are a number of billion dollar tech startups (unicorns) with their roots right here in Stockholm. Here is a list of some notable example (please keep in mind that this list is not scientific or exact, but it does serve as a good indicator. Valuations change over time and companies move around. These companies are either based here or have strong ties to Stockholm).

  • Spotify ­ – $4 billion  [7]
  • Klarna – $1 billion [8]
  • King - $7 billion [9]
  • Mojang – $1 billion [10]
  • Skype – ­ $8.5 billion [11]
  • Mysql – $1 billion [12]

 

Sources:

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