SAP Acquires Ghent Scale-Up Techwolf in Major European AI Deal
German software giant SAP has acquired Ghent-based artificial intelligence scale-up Techwolf, marking what the startup’s chief executive calls the largest venture capital-backed software acquisition in Belgian history. Founded in 2017 by Mikaël Wornoo, Andreas De Neve, and Jeroen Van Hautte, Techwolf uses artificial intelligence to help global employers map and analyze workforce skills.
Techwolf Expands from Student Project to SAP Buyout
Techwolf expanded rapidly from its origins as a student project aimed at matching students with jobs based on competencies. Today, the firm provides employee skill insights to multinational corporations including HSBC, PayPal, and Booking.com. Major regional financial and industrial institutions such as KBC and Engie adopted the software by 2022, the same year Techwolf secured a 10 miljoen euro capital round. A subsequent 40 miljoen euro funding injection followed two years later alongside the opening of a New York office, leading directly to the current buyout by SAP.
Ghent Positioned as a Leading Startup Hub
The acquisition shows that Ghent's technology ecosystem has matured, ranking tenth globally for startup density according to Dealroom data. Four of Belgium’s seven unicorn companies—firms valued at over one billion dollars—originated in the East-Vlahemian capital. Established local successes such as Teamleader, Showpad, and acquired firms like Silverfin and Henchman highlight a dense regional network that continually recycles capital and entrepreneurial talent back into new ventures.
Future Independence Within the SAP Group
Techwolf will operate as an independent entity under the leadership of Andreas De Neve following the integration. De Neve noted in the acquisition announcement that organizations are actively trying to understand how artificial intelligence transforms daily labor, providing the foundational evidence layer necessary to answer those workforce questions. By retaining this specialized capability within Europe through SAP, the transaction keeps valuable artificial intelligence assets anchored on the continent amid broader debates over technology competitiveness.
When Was Techwolf Founded?
When was Techwolf founded?
Techwolf was founded in 2017 by Mikaël Wornoo, Andreas De Neve, and Jeroen Van Hautte after originating from student research at university.
Which major companies use Techwolf software?
Global corporations including HSBC, PayPal, Booking.com, KBC, and Engie utilize the platform to analyze workforce skills.
How much financing did Techwolf raise prior to the SAP acquisition?
The company secured a 10 miljoen euro capital round in 2022, followed by an additional 40 miljoen euro two years later.