In 2024, 38 startup unicorns were born, including Farcaster, Monad, io.net, and EigenLayer from the crypto sector.
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In 2024, 38 startup unicorns were born, including Farcaster, Monad, io.net, and EigenLayer from the crypto sector.
Companies in AI startups, cybersecurity, health tech, and fintech have performed exceptionally well.
Navigating Web3 tides with focused insightsAuthor: Dominic-Madori Davis
Translation: TechFlow
Despite challenges in the venture capital market, new unicorns continue to emerge every month.
Based on data from Crunchbase, CB Insights, and PitchBook, TechCrunch has tracked this year’s newly minted unicorn companies. The list includes Elon Musk’s xAI, which has reached a staggering $24 billion valuation, along with numerous other AI startups. Companies in cybersecurity, health tech, and fintech are also performing strongly. This list will be updated throughout the year—stay tuned for more high-performing startups in 2024!
July
Aven — $1B: Founded in 2019, Aven is a consumer credit card company. According to CB Insights, it reached a $1 billion valuation after securing a $142 million Series D round led by Khosla Ventures and General Catalyst.
Flo Health — $1B: As reported by TechCrunch, the fertility tracking app announced a $200 million Series C funding round, pushing its valuation above $1 billion. Founded in 2015, the company has raised over $290 million from investors including General Atlantic.
Altana Technologies — $1B: This global supply chain management company, founded in 2018, closed a $200 million Series C, reaching a $1 billion valuation. Investors include Salesforce Ventures and U.S. Innovation Technology Fund. PitchBook notes that the company has raised approximately $322 million to date.
Chainguard — $1.1B: This cybersecurity firm announced a $140 million Series C, bringing its valuation to $1.12 billion. Founded in 2021, Chainguard has raised over $256 million from investors including Redpoint Ventures, Lightspeed Venture Partners, and Sequoia Capital, according to reports.
Harvey — $1.5B: Legal AI platform Harvey raised $100 million from investors including Google Ventures, OpenAI, Kleiner Perkins, and Sequoia Capital, achieving a $1.5 billion valuation. It has now raised a total of $206 million.
Saronic Technologies — $1B: Saronic, a defense technology company building autonomous surface vessels, secured a $175 million Series B led by Andreessen Horowitz, reaching a $1 billion valuation. Other investors include 8VC, Caffeinated Capital, and Elad Gil. According to PitchBook, the company has raised $244.5 million to date.
June
Huntress — $1.55B: This managed cybersecurity startup offering extended detection and response (EDR) technology completed a $150 million Series D, bringing its valuation to $1.55 billion. To date, the company has raised over $300 million. Founded in 2015, its investors include Kleiner Perkins and Sapphire Ventures, according to PitchBook.
xAI — $24B: Elon Musk’s AI startup, founded last year, reached a $24 billion valuation after completing a $6 billion Series B with investors including Andreessen Horowitz, Craft Ventures, Fidelity Investments, and Sequoia Capital. xAI offers Grok, a multimodal large language model.
BillionToOne — $1B: This genetic testing company focused on disease screening completed a $130 million Series D, reaching a $1 billion valuation, according to Crunchbase.
May
Altruist — $1.5B: This fintech startup, founded in 2018, provides investment management services for independent registered investment advisors. In May, it closed a $169 million Series E led by ICONIQ Growth, reaching a $1.5 billion valuation. According to PitchBook, the company has also received backing from Insight Partners and Endeavor Catalyst, raising over $450 million to date.
Weka — $1.6B: This SaaS data storage company focused on AI use cases completed a $140 million Series E, reaching a $1.6 billion valuation, according to PitchBook. Founded in 2013, the company has raised approximately $375 million to date, with investors including Valor Equity Partners, Generation Investment Management, and Nvidia.
Farcaster — $1B: This open-source blockchain social media startup closed a $150 million Series A led by Paradigm, achieving a $1 billion valuation. Founded in 2021, the company has support from a16z and Union Square Ventures, having raised over $180 million to date, according to PitchBook.
Sigma Computing — $1.5B: This AI-driven big data analytics startup reached a $1.5 billion valuation after a funding round in May. According to Crunchbase, the company has raised nearly $560 million to date.
Humanity Protocol — $1B: This blockchain-based palmprint identity verification startup, founded in 2023, completed a $30 million seed round, reaching a $1 billion valuation. Overall, the company has raised only $30 million from investors including hedge fund Ash Park Capital and Aza Ventures, according to PitchBook.
April
Cyera — $1.5B: Data security provider Cyera raised $300 million in a Series C in April, reaching a $1.5 billion valuation, according to PitchBook. Founded in 2021, the company has raised $460 million from investors including Redpoint Ventures and Accel.
Monad Labs — $3B: Monad is developing a faster version of the Ethereum blockchain. In April, it closed a $225 million Series A, achieving a $3 billion valuation. To date, the company has raised over $244 million from investors including Amber Group and Artichoke Capital.
Nexamp — $1.5B: This clean energy company raised $520 million in April through a mix of debt and venture financing, reaching a $1.08 billion valuation, according to PitchBook. Founded in 2007, the company has raised over $1.31 billion to date.
Grow Therapy — $1.4B: This health tech company, founded in 2020 to help users find suitable therapists, completed an $88 million Series C in April, valuing the company at $1.4 billion. To date, it has raised nearly $180 million from investors including Sequoia Capital, Goldman Sachs, and actress Anna Kendrick.
Cognition AI — $2B: Cognition is developing Devin, an AI software engineer. It reportedly raised a $175 million Series B in April, achieving a $2 billion valuation. According to PitchBook, the company was founded in 2023 and has raised $196 million to date, with investors including Founders Fund, Khosla Ventures, and Pear.
Xaira Therapeutics — $2.7B: This AI drug discovery startup, founded in 2023, launched in April with a massive $1 billion Series A, reaching a $2.7 billion valuation. The company has raised a total of $1 billion from investors including ARCH Venture Partners, Foresite Capital, Menlo Ventures, Lux Capital, and New Enterprise Associates.
Flip — $1.19B: This social e-commerce platform, founded in 2019, raised $144 million in a Series C in April, reaching a $1.19 billion valuation, according to PitchBook. To date, the company has raised over $300 million from investors including ad-tech giant AppLovin, Streamlined VC, and Mubadala Sovereign Wealth Fund.
March
io.net — $1B: This cloud service aggregates GPUs from data centers and cryptocurrency miners into a decentralized network usable by AI models. Founded in 2019 (originally targeting quantitative trading), it closed a $33 million Series A in March, reaching a $1 billion valuation, according to PitchBook. The company has raised only $35 million to date, with investors including 6th Man Ventures, Foresight Ventures, and ArkStream Capital.
Perplexity — $1B: This well-known AI search engine raised $73.6 million in a Series B in January, valuing it at $520 million. An additional $62.7 million in April doubled its valuation to $1.04 billion. The company has raised $165 million to date.
Octane — $1.1B: Octane, which offers instant financing for lawnmowers and recreational vehicles, raised $50 million in April, bringing its valuation to $1.11 billion. Founded in 2014, the company has raised about $250 million to date, with investors including Progressive and Gaingels.
Celestial AI — $1.2B: This AI company raised a $175 million Series C in March, achieving a $1.2 billion valuation, led by billionaire Thomas Tull’s USIT Fund. The company has raised $339 million to date from investors including Koch Disruptive Technologies, Temasek, AMD, Samsung Catalyst Fund, and Porsche Automobil Holding.
IntraBio — $1B: IntraBio, a company focused on drug discovery for neurodegenerative diseases, raised $40 million in March, reaching a valuation of approximately $1 billion, according to Crunchbase. To date, the company has raised over $50 million.
Liquid Death — $1.4B: As reported by TechCrunch, this beverage startup’s latest funding round amounted to $67 million, bringing its valuation to $1.4 billion. According to Crunchbase, Liquid Death has raised over $260 million to date.
February
Blink Health — $1.3B: Founded in 2014, this online pharmacy secured $81 million in private equity funding, reaching a $1.28 billion valuation. The company has now received a mix of private equity and venture capital, raising over $250 million to date, with investors including 8VC and BoxGroup, according to PitchBook.
NinjaOne — $1.9B: This endpoint management and security company raised $231 million in a Series C in February, reaching a $1.9 billion valuation. According to PitchBook, the company has raised $282.7 million to date from investors including ICONIQ Growth.
Ascend Elements — $1.6B: This sustainable battery company raised $162 million in February, reaching a $1.61 billion valuation, according to PitchBook. To date, the company has raised over $1 billion from investors including Just Climate, Clearvision Ventures, and Irongrey.
Lambda — $1.5B: This GPU cloud computing platform for AI raised a $320 million Series C in February, reaching a $1.52 billion valuation. According to PitchBook, it raised another $800 million in July. The company has raised nearly $900 million in total, with investors including Garry Tan, Bloomberg Beta, and Alumni Ventures.
EigenLayer — $1.1B: EigenLayer is a new project on Ethereum known as restaking, involving the use of Ethereum tokens as collateral. Founded in 2021, the company secured a $100 million Series B in February led by a16z, reaching a $1 billion valuation, according to PitchBook. The company has raised over $160 million in venture funding, with other supporters including Blockchain Capital and Apollo Crypto.
Figure — $2.6B: This humanoid robotics company raised a $675 million Series B in February, reaching a $2.6 billion valuation. According to PitchBook, Figure has raised nearly $850 million in venture funding from investors including Bezos Expeditions, Calm Ventures, Intel, Nvidia, OpenAI, and Microsoft.
Together AI — $1.25B: This AI startup raised $106 million in February, led by Salesforce Ventures, achieving a $1.25 billion valuation. According to PitchBook, Together AI has raised over $232 million in venture funding from investors including Hugging Face, NEA Partners, and 137 Ventures.
Bugcrowd — $1B: This crowdsourced vulnerability remediation cybersecurity platform raised a $102 million Series E in February led by General Catalyst, reaching a $1 billion valuation, according to Crunchbase. To date, the company has raised over $180 million.
January
ElevenLabs — $1B: This AI text-to-speech generation startup focused on voice dubbing secured an $80 million Series B in January, reaching a $1 billion valuation. According to Crunchbase, ElevenLabs has raised $101 million to date, with investors including a16z, Sequoia Capital, and SV Angel.
Quantinuum — $5.3B: Founded in 2021, this quantum computing cloud service raised $300 million in January, led by Honeywell, reaching a $5.3 billion valuation, according to Crunchbase. PitchBook shows that IBM Ventures and JPMorgan Chase are also backers.
Zūm — $1.3B: This school transportation fleet management startup closed a $140 million Series E in January led by Singapore-based GIC, bringing Zūm’s valuation to $1.3 billion. According to Crunchbase, the company has raised $350 million in total.
This article has been updated with corrected figures for Huntress's valuation and corrections to the names of Foresite and Lambda.
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