More than 100 new tech unicorns were minted in 2025 — here they are

HawkEye 360 — $2 billion: This defense-tech company, founded in 2015, last raised a $150 million Series E. It has raised almost $500 million in funding to date from investors including BlackRock and Insight Partners.

Oishii — $1.2 billion: This vertical farming company, launched in 2016, last raised a $450 million Series C. It has raised around $650 million in funding to date from investors, including SPARZ Group Company and Resilience Reserve, according to PitchBook.

Erebor — $4.3 billion: This crypto bank for crypto clients raised a $350 million seed round. Founded in 2025, this company’s investors include Lux Capital, according to PitchBook.

November

Main Func — $1.25 billion: This company builds AI agents to automate white-collar worker tasks. It raised a $275 million Series B, giving it a $1.25 billion valuation, according to Forbes. Backers include Emergence Capital Partners and LV Technology Ventures. The company was founded in 2023, according to PitchBook.

Gamma — $2.1 billion: This company, which creates AI-generated visuals, such as websites, announced a $68 million Series B led by a16z, giving it a $2.1 billion valuation, TechCrunch previously reported. The company launched its first product in 2022.

Curative — $1 billion: This health insurance provider startup last raised a $153 million Series B. Founded in 2020, it has raised more than $160 million in funding to date, with investors including DCVC.

Harmonic — This mathematical reasoning engine, founded in 2023, last raised a $120 million Series C. It has raised more than $290 million in funding to date from investors including Sequoia Capital and Kleiner Perkins, according to PitchBook.

Luma — $4 billion: This AI video generation company, founded in 2021, last raised a $900 million Series C. It has raised $1 billion in funding to date from investors including Andreesen Horowitz and Amazon Web Services, according to PitchBook.

Suno — $2. 5 billion: This company, founded in 2022, creates AI music. It last raised a $250 million Series C and has raised $375 million to date from investors including Lightspeed and Menlo Ventures, according to PitchBook.

PDWQ — $1.2 billion: This company uses AI to create and operate drones. It last raised a $35 million Series B3. Founded in 2019, it has raised $60 million in funding to date from investors including Ondas Holdings, according to PitchBook.

Eight Sleep — $1.5 billion: This smart bed manufacturer last raised a$100 million Series D, with investors including Khosla Ventures and Founders Fund. Overall, the company has raised more than $250 million in funding to date, according to PitchBook.

Proof — $1 billion: This is an identity verification business that helps companies verify the identities of their consumers. Founded in 2015, it last raised an $80 million Series E, with investors including Canapi Ventures and Polaris Partners. The company has raised around $320 in venture funding to date, according to PitchBook.

Reflection — $8 billion: This company is building open foundation models. Founded in 2024, it last raised a $2 billion Series B round, with investors including Lightspeed Venture Partners and Sequoia, according to Pitchbook. The company has raised $2.2 billion in funding to date.

EXU — $1.2 billion: Founded in 2025, this company is a crypto trading platform. It raised a $120 million Series B, with investors including Sequoia and The Goldman Sachs Group, according to PitchBook. It has raised $160 million in funding to date.

Reve — $1.9 billion: This company produces a tool that turns text to images without the need for advanced prompt engineering, according to PitchBook. The company was founded in 2023 and last raised a $350 million Series B. Investors include Left Lane Capital.

October

Modal — $1.1 billion: This AI cloud computing platform, founded in 2021, last raised an $87 million Series B, giving it a $1.1 billion valuation, according to PitchBook. It counts Lux Capital and Redpoint Ventures as investors and has raised around $110 million in funding to date.

Fireworks AI — $4 billion: This AI infrastructure platform for open source models, founded in 2022, last raised a $250 million Series C giving it a $4 billion valuation, according to PitchBook. It counts Benchmark Capital and Index Ventures as investors and has raised more than $320 million in funding to date.

Substrate — $1 billion: This semiconductor fabrication company, founded in 2022, last raised a $100 million seed round giving it a $1 billion valuation, according to Pitchbook. It countsValor Equity Partners and Founders Fund as investors.

LangChain — $1.3 billion: This agent engineering platform, founded in 2022, last raised a $125 million Series B giving it a $1.3 billion valuation, according to PitchBook. It has raised around $160 million to date and counts Sequoia and Benchmark Capital as investors.

New Limit — $1.6 billion: This precision medicine company, founded in 2021, last raised a $45 million round valuing it $1.6 billion, according to PitchBook. It counts Kleiner Perkins as an investor and has raised more than $240 million in funding to date.

Tempo — $5 billion: This blockchain payments company, which counts Thrive Capital as an investor, last raised a $500 million Series A, giving it a $5 billion valuation, according to PitchBook. It was founded in 2025.

Lila — $1.3 billion: This life scientific discovery company, founded in 2023, last raised a $350 million Series A giving it around a $1.3 billion valuation, according to Pitchbook. It counts Braidwell and Collective Global as investors and has raised more than $550 million in funding to date.

Stoke — $2 billion: This sustainable rocket company, founded in 2019, last raised a $610 million Series D, giving it a $2 billion valuation, according to PitchBook. It counts MaC Venture capital, and the US Innovation Technology Fund as investors and has raised around $1 billion in funding to date.

 Apex — $1 billion: This company, which uses off-the-shelf components for building satellites, was founded in 2022 and last raised a $200 million Series D, giving it a $1 billion valuation, according to PitchBook. It counts Andreessen Horowitz and 8VC as investors and has raised more than $500 million in funding to date.

September 

You.com — $1.5 billion: This company enterprise AI platform sells AIs to help businesses use AI more effectively. It last raised a $100 million Series C giving it a $1.5 billion valuation, according to PitchBook. It was founded in 2020, counts Time Ventures and Cox Enterprises as investors, and has raised more than $190 million in funding to date.

Enveda — $1.2 billion: This drug discovery analytics platform, which counts Lux Capital and True Ventures as investors, last raised a $150 million Series D giving it a $1.2 billion valuation, according to PitchBook. It was founded in 2019 and has raised $520 million to date in funding.

Filevine — $3 billion: This legal case management startup last raised a $260 million Series E, counting Accel and Insight Partners as investors, according to Crunchbase. It was founded in 2014.

Baseten — $2.2 billion: This AI company focuses on model inference to help businesses build and deploy their AI models more effectively. Founded in 2019, it last raised a $150 million Series D, giving it a $2.2 billion valuation, according to PitchBook. It counts Greylock and Spark Capital as investors and has raised more than $280 million in funding to date.

Invisible — $2 billion: This AI technology integrates into manufacturing software to help analyze movement, like from humans or robots, on factory floors. It was founded in 2015, last raised a $100 million round giving it a $2 billion valuation, according to PitchBook. It counts Vanara Capital as investors and has raised more than $120 million in funding to date.

Flying Tulip — $1 billion: This decentralized trading platform, founded in 2025, last raised a $200 million seed round giving it a $1 billion valuation, according to PitchBook. It counts CoinFund Management and Susquehanna Capital as investors.

Distyl — $1.8 billion: This platform generates and deploys AI native workflows into business operations. It was founded in 2022, last raised a $175 million Series B, giving it a $1.8 billion valuation, according to PitchBook. It counts Khosla Ventures and Lightspeed Venture Partners as investors and has raised more than $200 million to date.

Modular — $1.6 billion: This AI infrastructure platform lets enterprises update AI systems without impacting the whole system. It counts General Catalyst and GV as investors, last raised a $250 million round giving it a $1.6 billion valuation, according to PitchBook. It was founded in 2022 and has raised around $380 million to date.

Thyme Care — $1.5 billion: This oncology platform helps provide personalized cancer care. It was founded in 2020, last raised a $97 million Series D, giving it a $1.5 billion valuation. It counts a16z and Concord Health Partners as investors and has raised around $280 million in funding to date, according to PitchBook.

Strive Health — $1.8 billion: This kidney care company works with clinicians to help care for those with kidney disease. It last raised a $300 million Series D counting NEA as investors, according to Crunchbase, giving it a $1.8 billion valuation. It was founded in 2018.

Base — $4 billion: This company equipes home with backup home batteries. It was founded in 2023, last raised a $1 billion Series C, giving it a $4 billion valuation, according to PitchBook. It counts a16z and Valor Equity Partners as investors and has raised more than $1.3 billion in funding to date.

Eve – $1.1 billion — This legal AI platform helps with tasks such as intake and evaluation, and drafting pre-litigation letters. It counts a16z and Lightspeed Venture Partners as investors, last raised a $103 million Series B, giving it a $1.1 billion valuation, according to PitchBook. It was founded in 2020 and has raised more than $160 million in funding to date.

Posthog — $1.4 billion: This platform that makes devops tools, founded in 2020, last raised a $75 million Series E, giving it a $1.4 billion valuation, according to PitchBook. The company, which counts GV and YC as investors, has raised more than $180 million in funding to date.

August

Shrapnel — $1.1 billion: This video game developer, founded in 2014, has raised more than $38 million in funding to date from investors including Gala Games and Griffin Gaming Partners, according to PitchBook. The company last raised a $19.5 million Series A, giving it a $1.1 billion valuation.

Fal — $4 billion: This platform helps developers create images, video, and audio. It was founded in 2021, has raised more than $440 million in funding to date, from investors including a16z, Kindred Ventures, and Sequoia Capital. The company last raised an around $250 million late late-stage round, giving it a $4 billion valuation.

CompanyCam — $2 billion: This project management platform uses AI to help make job site management more efficient. It was founded in 2015, has raised more than $450 million in funding to date from investors including B Capital Group and Insight Partners. It last raised a $415 million Series C, giving it a $2 billion valuation.

Field AI — $2 billion: This AI company helps companies autonomously operate robots. Founded in 2023, this company has raised more than $500 million in funding to date, according to PitchBook, from investors including Khosla Ventures and Bezos Expeditions. The company last raised a $315 million round, giving it a $2 billion valuation.

Periodic Labs — $1 billion: This material science company announced a $300 million seed with a16z as an investor, giving it a $1 billion valuation, PitchBook estimates. It was founded just this year.

Polymarket — $9 billion: Founded in 2017, this trading and betting company has raised more than $2 billion in funding, according to PitchBook, from investors including General Catalyst and Founders Fund.

July

Castellion — $2.8 billion: This company creates military systems to scale and manufacture strike systems. It has raised more than $460 million in funding to date, according to PitchBook. Investors in the company, founded in 2022, include a16z and Lightspeed Venture Partners. The company last raised a $350 million Series B, giving it a $2.8 billion valuation.

Also — $1 billion: This electric mobility company, founded in 2025, has raised more than $300 million to date, according to PitchBook, with investors including Greenoaks Capital and Eclipse Ventures. It was originally incubated in the electric vehicle company Rivian. The company last raised a $200 million round giving it a $1 billion valuation.

MaintainX — $2.5 billion: This management software company helps businesses assess team performance and manage work orders. It was founded in 2018, and has raised more than $240 million to date, according to PitchBook, with investors including Bain Capital Ventures, and Bessemer Venture Partners. The company last raised a $150 million Series D, giving it a $2.5 billion valuation.

Tala Health — $1.2 billion: This personalized healthcare company uses AI to help provide virtual care. It was founded in 2025, has raised more than $100 million to date. The company allows clinicals to use AI agents to diagnose and treat patients and last raised a $100 million seed giving it a $1.2 billion valuation.

Substack — $1.1 billion: This newsletter platform, founded in 2017, has raised more than $200 million to date, according to PitchBook, with investors including a16z. The company last raised a $100 million Series C giving it a $1.1 billion valuation.

Erebor — $2 billion: This company, currently in stealth, was founded in 2025 and has raised more than $250 million according to PitchBook, from investors including Founders Fund. The bank works with crypto clients and startups. The company last raised a $250 million seed giving it a $2 billion valuation.

Reka — $1 billion: This AI model builder company, founded in 2022, has raised more than $160 million to date in funding, according to PitchBook, with investors including Snowflake and Nvidia. The company last raised a $110 million early-stage round giving it a $1 billion valuation.

OnXmaps — $1.4 billion: This mobile mapping company, founded in 2009, has raised more than $380 million in funding to date, according to PitchBook, from investors including Summit Partners. The company marks property boundaries to help users stay on permitted paths as they travel. It last raised a $280 million Series C giving it a nearly $1.4 billion valuation.

Ambience — $1.25 billion: This AI medical scribe, founded in 2020, has raised more than $340 million to date, according to PitchBook, with investors including OpenAI Startup Fund, a16z, and Kleiner Perkins. The company last raised a $243 million Series C, giving it a $1.25 billion valuation.

Anaconda — $1.5 billion: This AI platform, which offers open source workflow solutions, was founded in 2012 and has raised more than $220 million in funding to date, according to PitchBook, from investors including General Atlantic and GIC Private. The company last raised a $150 million Series C, giving it a $1.5 billion valuation.

June

Linear — $1.25 billion: This software development product management tool last raised an $82 million Series C, valuing the company at $1.25 billion, according to PitchBook. The company, founded in 2019, has raised more than $130 million in funding to date from investors, including Accel and Sequoia Capital.

Gecko — $1.62 billion: This company makes data-gathering robotics that climb, crawl, swim, and fly. Founded in 2013, the company last raised a $121 million Series D, valuing it at $1.6 billion, according to PitchBook. Gecko has raised more than $340 million in funding to date from investors, including Cox Enterprises and Drive Capital.

Meter — $1.25 billion: This company, which offers managed internet infrastructure service to enterprises, last raised a $170 million Series C, valuing the company at $1.25 billion, according to PitchBook. The company, founded in 2015, has raised more than $250 million in funding to date, from investors including General Catalyst, Sequoia Capital, Sam Altman, and Lachy Groom.

Teamworks — $1.25 billion: This sports software company last raised a $247 million Series F, valuing the company at $1.25 billion, according to PitchBook. The company, founded in 2006, has raised more than $400 million in funding to date from investors, including Seaport Capital and General Catalyst.

Thinking Machines — $10 billion: This AI research company, founded just last year by OpenAI alum Mira Murati, raised a $2 billion seed round, valuing the company at $10 billion, according to PitchBook. The company’s investors include a16z and Nvidia.

Kalshi — $2 billion: The popular prediction markets company, founded in 2018, last raised a $185 million Series C, valuing the company at $2 billion, according to PitchBook. The company has raised more than $290 million in funding to date, from investors including Sequoia and Global Founders Capital.

Decagon — $1.5 billion: This customer service AI agent company, founded in 2023, last raised a $131 million Series C, valuing the company at $1.5 billion, according to PitchBook. The company has raised more than $231 million in funding to date from investors, including a16z and Accel.

May

Pathos — $1.6 billion: This drug development company, founded in 2020, last raised a $365 million Series D, valuing the company at $1.6 billion, according to PitchBook. The company has raised more than $460 million to date from investors, including General Catalyst and Altimeter Capital Management.

Statsig — $1.1 billion: This product development platform, founded in 2021, last raised a $100 million Series C, valuing the company at $1.1 billion, according to PitchBook. The company has raised around $153 million to date from investors, including Sequoia, Madrona, and ICONIQ.

Function — $2.5 billion: This health tech company, founded in 2020, last raised a $200 million round, according to PitchBook, valuing the company at $2.5 billion. The company has raised more than $250 million in funding to date from investors, including a16z.

SpreeAI — $1.5 billion: This company has raised $80 million, valuing the company at $1.5 billion. The company, founded in 2020, has investors including the Davidson Group, according to Pitchbook.

Owner — $1 billion: This restaurant marketing software company, founded in 2018, last raised a $120 million Series C, valuing the company at $1 billion, per PitchBook. The company has raised more than $180 million in funding to date from investors, including Headline, Redpoint Ventures, SaaStr Fund, and Meritech Capital.

Awardco — $1 billion: This employee engagement platform last raised a $165 million Series B, valuing the company at $1 billion, per PitchBook. The company, founded in 2012, has raised more than $230 million in funding to date from investors, including General Catalyst.

April

Nourish — $1 billion: This dietitian telehealth company last raised a $70 million Series B, according to PitchBook, valuing the company at $1 billion. The company, founded in 2020, has raised more than $100 million in funding to date from investors, including Index Ventures and Thrive Capital.

Chapter — $1.38 billion: This Medicare guide health tech company, founded in 2013, last raised a $75 million Series D, valuing it at $1.38 billion, according to PitchBook. The company has raised $186 million in funding to date, with investors including XYZ Venture Capital and Narya.

Threatlocker — $1.2 billion: This Orlando-based data protection company last raised a $60 million Series E, valuing the company at $1.2 billion, according to PitchBook. The company, founded in 2017, has raised more than $200 million in funding to date from investors, including General Atlantic and StepStone Group.

Cyberhaven — $1 billion: This data detection company last raised a $100 million Series D in April, according to PitchBook, valuing the company at $1 billion. The company, launched in 2015, has raised more than $200 million in funding to date, with investors including Khosla Ventures and Redpoint Ventures.

March

Fleetio — $1.5 billion: This Alabama-based startup creates software to help make fleet operations easier. It last raised a $454 million Series D at a $1.5 billion valuation, according to PitchBook. It was launched in 2012 and has raised $624 million in funding to date, with investors including Elephant and Growth Equity at Goldman Sachs Alternatives.

The Bot Company — $2 billion: This robotics platform last raised a $150 million early-stage round, valuing it at $2 billion, according to PitchBook. The company, which was founded in 2024, has raised $300 million to date in funding.

Celestial AI — $2.5 billion: The AI company raised a $250 million Series C led by Fidelity that valued the company at $2.5 billion, per Crunchbase. The company, based in California, was launched in 2020 and counts BlackRock and Engine Ventures as investors. It has raised more than $580 million in capital to date, per PitchBook.

Underdog Fantasy — $1.3 billion: The sports gaming company last raised a $70 million Series C valuing the company at $1.3 billion, according to Crunchbase. The company, founded in 2020, has raised more than $100 million in capital to date, per PitchBook. Investors include Spark Capital.

Build Ops — $1 billion: This software company last raised a $122.6 million Series C, valuing it at $1 billion. Build Ops, which was launched in 2018, has raised $273 million in total, according to PitchBook, with investors including Founders Fund and Fika Ventures.

Insilico Medicine — $1 billion: The drug research company raised a $110 million Series E valuing the company at $1 billion, per Crunchbase. It launched in 2014, has raised more than $500 million to date in capital, and counts Lilly Ventures and Value Partners Group as investors.

Olipop — $2 billion: This popular probiotic soda company last raised a $137.9 million Series C at a $1.96 billion valuation. It was founded in 2018 and has raised $243 million to date, with investors including Scoop Ventures and J.P. Morgan Growth Equity Partners.

Peregrine — $2.5 billion: This data analysis and integration platform, launched in 2017, last raised a $190 million Series C with a valuation of $2.5 billion. It has raised more than $250 million in funding to date, according to PitchBook, with investors including Sequoia and Fifth Down Capital.

Assured — $1 billion: The AI company helps process claims and last raised a $23 million Series B, valuing the company at $1 billion. It was launched in 2019 and has raised a little more than $26 million to date, with investors including ICONIQ Capital and Kleiner Perkins.

February

Abridge — $2.8 billion: This medtech company, founded in 2018, last raised a $250 million Series D at a $2.75 billion valuation, per PitchBook. The company has raised more than $460 million to date in funding and counts Elad Gil and IVP as investors.

OpenEvidence — $1 billion: This medtech company, founded in 2017, last raised a $75 million Series A at a $1 billion valuation, per PitchBook. The company has raised $135 million to date in funding and counts Sequoia Capital as an investor.

Hightouch — $1.2 billion: The data platform, founded in 2018, last raised an $80 million Series C at a $1.2 billion valuation, per PitchBook. The company has raised $171 million to date in funding and counts Sapphire Ventures and Bain Capital Ventures as investors.

January

Kikoff — $1 billion: This personal finance platform last raised an undisclosed amount that valued it at $1 billion, according to PitchBook. The company, founded in 2019, has raised $42.5 million to date and counts Female Founders Fund, Lightspeed Venture Partners, and basketballer Steph Curry as investors.

Netradyne — $1.35 billion: Founded in 2015, this computer vision startup raised a $90 million Series D valuing it at $1.35 billion, according to Crunchbase. The round was led by Point72 Ventures.

Hippocratic AI — $1.6 billion: This startup, founded in 2023, creates healthcare models. It raised a $141 million Series B, valuing it at $1.64 billion, according to Crunchbase. The round was led by Kleiner Perkins.

Truveta — $1 billion: This genetic research company raised a $320 million round valuing it at $1 billion, according to Crunchbase. Founded in 2020, its investors include the CVCs from Microsoft and Regeneron Pharmaceuticals.

Clay — $1.25 billion: Founded in 2017, Clay is an AI sales platform. The company raised a $40 million Series B, valuing it at $1.25 billion, according to PitchBook. It has raised more than $100 million to date and counts Sequoia, First Round, Boldstar, and Box Group as investors.

Mercor — $2 billion: This contract recruiting startup raised a $100 million Series B valuing it at $2 billion. The company, founded in 2022, counts Felicis, Menlo Ventures, Jack Dorsey, Peter Thiel, and Anthology Fund as investors.

Loft Orbital — $1 billion: Founded in 2017, the satellite company raised a $170 million Series C valuing the company at $1 billion, according to Crunchbase. Investors in the round included Temasek, Uncork Capital, and Tikehau Capital.

This story was originally published in February and is updated periodically with new information.