The Unicorn Stampede: Over 80 New Tech Giants Minted in 2025

AI Startups Achieving Unicorn Status Every Month

Investor interest in AI has been on the rise, leading to a surge in startups reaching unicorn status. Using data from Crunchbase and PitchBook, TechCrunch has been tracking VC-backed startups that have achieved unicorn status this year. While many of these startups are AI-related, some are making waves in other industries like satellite space companies such as Loft Orbital and blockchain-based trading platforms like Kalshi.

The list of unicorn startups is continuously updated throughout the year, showcasing the latest powerhouse startups now valued at over $1 billion.

November

Genspark— $1.25 billion: Genspark is a company that develops AI agents to automate tasks. With a $275 million Series B funding round, it has reached a valuation of $1.25 billion. Notable investors include Emergence Capital Partners and LV Technology Ventures. The company was established in 2023.

Gamma— $2.1 billion: Gamma specializes in creating AI-generated visuals, like websites. A $68 million Series B led by a16z has propelled its valuation to $2.1 billion. Gamma introduced its first product in 2022.

Modal— $1.1 billion: Modal is an AI cloud computing platform founded in 2021. Its recent $87 million Series B funding round has given it a valuation of $1.1 billion. Lux Capital and Redpoint Ventures are among its investors.

Fireworks AI— $4 billion: Fireworks AI focuses on AI infrastructure for open-source models. Founded in 2022, it raised a $250 million Series C, reaching a valuation of $4 billion. Investors include Benchmark Capital and Index Ventures.

Substrate— $1 billion: Substrate is a semiconductor fabrication company founded in 2022. A $100 million seed round has valued the company at $1 billion. Investors include Valor Equity Partners and Founders Fund.

Shop My— $1.5 billion: Shop My is a marketing and affiliate platform established in 2020. With a $70 million Series B, it has reached a valuation of $1.5 billion. Investors include Bain Capital Ventures and Bessemer Venture Partners.

LangChain— $1.3 billion: LangChain is an agent engineering platform founded in 2022. A $125 million Series B has valued the company at $1.3 billion. Investors include Sequoia and Benchmark Capital.

New Limit— $1.6 billion: New Limit is a precision medicine company founded in 2021. With a $45 million funding round, it has reached a valuation of $1.6 billion. Kleiner Perkins is one of its investors.

Tempo— $5 billion: Tempo is a blockchain payments company that recently raised a $500 million Series A, valuing the company at $5 billion. Thrive Capital is among its investors, and it was founded in 2025.

Lila— $1.3 billion: Lila is a life scientific discovery company founded in 2023. A $235 million Series A has valued the company at around $1.3 billion. Investors include Braidwell and Collective Global.

Reflection— $8 billion: Reflection is a developer of open foundation models founded in 2024. With a $2 billion Series B, the company’s valuation has reached $8 billion. Investors include Light Speed Venture Partners, Nvidia, and Sequoia.

Stoke— $2 billion: Stoke is a sustainable rocket company founded in 2019. A $610 million Series D has valued the company at $2 billion. Investors include MaC Venture Capital and the US Innovation Technology Fund.

Apex— $1 billion: Apex is a company that uses off-the-shelf components for building satellites. Founded in 2022, it recently raised a $200 million Series D, reaching a valuation of $1 billion. Investors include Andreessen Horowitz and 8VC.

September

You.com— $1.5 billion: You.com is an enterprise AI platform that provides AIs to help businesses utilize AI more effectively. With a $100 million Series C, it has reached a valuation of $1.5 billion. Time Ventures and Cox Enterprises are among its investors.

Enveda— $1.2 billion: Enveda is a drug discovery analytics platform that recently raised a $150 million Series D, valuing the company at $1.2 billion. Lux Capital and True Ventures are among its investors.

Filevine— $3 billion: Filevine is a legal case management startup that raised a $260 million Series E, reaching a valuation of $3 billion. Investors include Accel and Insight Partners, and the company was founded in 2014.

Baseten— $2.2 billion: Baseten is an AI company focused on model inference to help businesses build and deploy AI models more effectively. With a $150 million Series D, it has reached a valuation of $2.2 billion. Investors include Greylock and Spark Capital.

PsiQuantum— $7 billion: PsiQuantum is a quantum computing company aiming to build one of the world’s first useful quantum computers. With a $1 billion Series E, the company’s valuation has reached $7 billion. Investors include BlackRock, Founders Fund, and Redpoint Ventures.

Invisible— $2 billion: Invisible integrates AI technology into manufacturing software to analyze movement on factory floors. Founded in 2015, the company recently raised a $100 million round, valuing it at $2 billion. Investors include Vanara Capital.

Flying Tulip— $1 billion: Flying Tulip is a decentralized trading platform founded in 2025. With a $200 million seed round, the company has reached a valuation of $1 billion. Investors include CoinFund Management and Susquehanna Capital.

Distyl— $1.8 billion: Distyl is a platform that generates and deploys AI-native workflows into business operations. With a $175 million Series B, the company’s valuation has reached $1.8 billion. Investors include Khosla Ventures and Lightspeed Venture Partners.

Modular— $1.6 billion: Modular is an AI infrastructure platform that allows enterprises to update AI systems without impacting the whole system. With a $250 million round, the company has reached a valuation of $1.6 billion. Investors include General Catalyst and GV.

Thyme Care— $1.5 billion: Thyme Care is an oncology platform that provides personalized cancer care. With a $97 million Series D, the company’s valuation has reached $1.5 billion. Investors include a16z and Concord Health Partners.

Strive Health— $1.8 billion: Strive Health is a kidney care company that collaborates with clinicians to care for individuals with kidney disease. With a $300 million Series D, the company’s valuation has reached $1.8 billion. Investors include NEA.

Base— $4 billion: Base equips homes with backup home batteries. With a $1 billion Series C, the company’s valuation has reached $4 billion. Investors include a16z and Valor Equity Partners.

Eve— $1.1 billion: Eve is a legal AI platform that assists with tasks like intake, evaluation, and drafting pre-litigation letters. With a $103 million Series B, the company’s valuation has reached $1.1 billion. Investors include a16z and Lightspeed Venture Partners.

Posthog— $1.4 billion: Posthog is a platform that develops DevOps tools. With a $75 million Series E, the company’s valuation has reached $1.4 billion. Investors include GV and YC.

August

Shrapnel— $1.1 billion: Shrapnel is a video game developer founded in 2014. With a $19.5 million Series A, the company’s valuation has reached $1.1 billion. Investors include Gala Games and Griffin Gaming Partners.

Fal— $4 billion: Fal is a platform that helps developers create images, video, and audio. With a $250 million late-stage round, the company’s valuation has reached $4 billion. Investors include a16z, Kindred Ventures, and Sequoia Capital.

CompanyCam— $2 billion: CompanyCam is a project management platform that uses AI to streamline job site management. With a $415 million Series C, the company’s valuation has reached $2 billion. Investors include B Capital Group and Insight Partners.

Field AI— $2 billion: Field AI helps companies autonomously operate robots. With a $315 million round, the company’s valuation has reached $2 billion. Investors include Khosla Ventures and Bezos Expeditions.

Periodic Labs— $1 billion: Periodic Labs is a material science company that recently raised a $300 million seed round, valuing the company at $1 billion. The company was founded this year.

Polymarket— $9 billion: Polymarket is a trading and betting company that has raised over $2 billion in funding. Investors include General Catalyst and Founders Fund.

July

Castellion— $2.8 billion: Castellion creates military systems for scaling and manufacturing strike systems. With a $350 million Series B, the company’s valuation has reached $2.8 billion. Investors include a16z and Lightspeed Venture Partners.

Also— $1 billion: Also is an electric mobility company founded in 2025. With a $200 million round, the company’s valuation has reached $1 billion. Investors include Greenoaks Capital and Eclipse Ventures.

MaintainX— $2.5 billion: MaintainX is a management software company that helps businesses assess team performance and manage work orders. With a $150 million Series D, the company’s valuation has reached $2.5 billion. Investors include Bain Capital Ventures and Bessemer Venture Partners.

Tala Health— $1.2 billion: Tala Health is a personalized healthcare company that uses AI to provide virtual care. With a $100 million seed round, the company’s valuation has reached $1.2 billion.

Substack— $1.1 billion: Substack is a newsletter platform founded in 2017. With a $100 million Series C, the company’s valuation has reached $1.1 billion. Investors include a16z.

Erebor— $2 billion: Erebor is a company in stealth mode founded in 2025. With a $250 million seed round, the company’s valuation has reached $2 billion. Investors include Founders Fund.

Reka— $1 billion: Reka is an AI model builder company founded in 2022. With a $110 million early-stage round, the company’s valuation has reached $1 billion. Investors include Snowflake and Nvidia.

OnXmaps— $1.4 billion: OnXmaps is a mobile mapping company founded in 2009. With a $280 million Series C, the company’s valuation has reached nearly $1.4 billion. Investors include Summit Partners.

Ambience— $1.25 billion: Ambience is an AI medical scribe founded in 2020. With a $243 million Series C, the company’s valuation has reached $1.25 billion. Investors include OpenAI Startup Fund, a16z, and Kleiner Perkins.

Anaconda— $1.5 billion: Anaconda is an AI platform that offers open-source workflow solutions. With a $150 million Series C, the company’s valuation has reached $1.5 billion. Investors include General Atlantic and GIC Private.

June

Linear— $1.25 billion: Linear is a software development product management tool that recently raised an $82 million Series C, valuing the company at $1.25 billion. Investors include Accel and Sequoia Capital.

Gecko— $1.62 billion: Gecko creates data-gathering robotics that climb, crawl, swim, and fly. With a $121 million Series D, the company’s valuation has reached $1.6 billion. Investors include Cox Enterprises and Drive Capital.

Meter— $1.25 billion: Meter offers managed internet infrastructure services to enterprises. With a $170 million Series C, the company’s valuation has reached $1.25 billion. Investors include General Catalyst, Sequoia Capital, Sam Altman, and Lachy Groom.

Teamworks— $1.25 billion: Teamworks is a sports software company that recently raised a $247 million Series F, valuing the company at $1.25 billion. Investors include Seaport Capital and General Catalyst.

Thinking Machines— $10 billion: Thinking Machines is an AI research company founded by OpenAI alum Mira Murati. With a $2 billion seed round, the company’s valuation has reached $10 billion. Investors include a16z and Nvidia.

Kalshi— $2 billion: Kalshi is a prediction markets company founded in 2018. With a $185 million Series C, the company’s valuation has reached $2 billion. Investors include Sequoia and Global Founders Capital.

Decagon— $1.5 billion: Decagon is a customer service AI agent company founded in 2023. With a $131 million Series C, the company’s valuation has reached $1.5 billion. Investors include a16z and Accel.

May

Pathos— $1.6 billion: Pathos is a drug development company founded in 2020. With a $365 million Series D, the company’s valuation has reached $1.6 billion. Investors include General Catalyst and Altimeter Capital Management.

Statsig— $1.1 billion: Statsig is a product development platform founded in 2021. With a $100 million Series C, the company’s valuation has reached $1.1 billion. Investors include Sequoia, Madrona, and ICONIQ.

Function— $2.5 billion: Function is a health tech company founded in 2020. With a $200 million round, the company’s valuation has reached $2.5 billion. Investors include a16z.

SpreeAI— $1.5 billion: SpreeAI recently raised an undisclosed round, valuing the company at $1.5 billion. The company, founded in 2020, has raised more than $20 million to date.

Owner— $1 billion: Owner is a restaurant marketing software company founded in 2018. With a $120 million Series C, the company’s valuation has reached $1 billion. Investors include Headline, Redpoint Ventures, SaaStr Fund, and Meritech Capital.

Awardco— $1 billion: Awardco is an employee engagement platform that raised a $165 million Series B, valuing the company at $1 billion. Founded in 2012, the company has raised more than $230 million in funding to date.

April

Nourish— $1 billion: Nourish is a dietitian telehealth company that recently raised a $70 million Series B, valuing the company at $1 billion. Founded in 2020, the company has raised more than $100 million in funding to date.

Chapter— $1.38 billion: Chapter is a Medicare guide health tech company founded in 2013. With a $75 million Series D, the company’s valuation has reached $1.38 billion. Investors include XYZ Venture Capital and Narya.

Threatlocker— $1.2 billion: Threatlocker is a data protection company based in Orlando. With a $60 million Series E, the company’s valuation has reached $1.2 billion. Investors include General Atlantic and StepStone Group.

Cyberhaven— $1 billion: Cyberhaven is a data detection company that recently raised a $100 million Series D, valuing the company at $1 billion. Founded in 2015, the company has raised more than $200 million in funding to date.

March

Fleetio— $1.5 billion: Fleetio is a startup in Alabama that creates software to simplify fleet operations. With a $454 million Series D, the company’s valuation has reached $1.5 billion. Founded in 2012, Fleetio has raised $624 million in funding to date.

The Bot Company— $2 billion: The Bot Company is a robotics platform that recently raised a $150 million early-stage round, valuing it at $2 billion. Founded in 2024, the company has raised $300 million in funding to date.

Celestial AI— $2.5 billion: Celestial AI raised a $250 million Series C led by Fidelity, valuing the company at $2.5 billion. Founded in California in 2020, Celestial AI has raised more than $580 million in capital.

Underdog Fantasy— $1.3 billion: Underdog Fantasy is a sports gaming company that recently raised a $70 million Series C, valuing the company at $1.3 billion. Founded in 2020, the company has raised over $100 million in funding to date.

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