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

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

With AI igniting an investor frenzy, every month, more startups acquire unicorn standing. 

Using data from Crunchbase and PitchBook, TechCrunch tracked down the VC-backed startups that turned unicorns in 2025. While most are AI-related, a shocking quantity are centered in other industries like satellite tv for pc house firms Loft Orbital and blockchain-based buying and selling web site Kalshi.   

This checklist might be up to date throughout the 12 months, so check back and see the latest powerhouse startups that are now price over $1 billion. 

December   

Heven Aerotech —$1 billion: This startup, based in 2019, is creating hydrogen-powered drones. It last raised a $100 million Series B, and has raised $115.2 million in complete capital to this point. Investors embody IonQ, according to PitchBook.  

Unconventional AI — $4.5 billion: This startup, based in 2025 by Databricks former head of AI, Naveen Rao, is engaged on an energy-efficient pc for AI. It last raised a $475 million seed round from buyers including Andreessen Horowitz and Lightspeed, Rao told Bloomberg.  

Saviynt — $3 billion: This id administration cybersecurity startup, launched in 2010, last raised a $700 million Series B. It has raised $740 million in funding to this point from buyers, including KKR, according to PitchBook.  

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Serval — $1 billion: This startup creates AI brokers to assist IT professionals full duties. Founded in 2024, the company last raised a $74.8 million Series B. It has raised round $126 million in funding to this point from buyers including Sequoia and Redpoint, according to PitchBook.   

Chai Discovery — $1.3 billion: This startup creates fashions that assist predict the construction of biochemical molecular constructions. Founded in 2024, the company last raised a $130 million Series B. It has raised near $230 million in funding to this point from buyers including General Catalyst and Thrive Capital, according to PitchBook.   

MoEngage — $1.1 billion: This buyer analytics platform, based in 2014, last raised a $280 million Series F. It has raised round $450 million in funding to this point, from buyers including A91 Partners and Goldman Sachs Asset Management, according to PitchBook.   

Radiant — $1.8 billion: This nuclear renewable vitality company appears to be like to supply a substitute for diesel. Founded in 2019, this company last raised a $300 million Series D and has raised more than $500 million in funding to this point from buyers including Draper Associates and Andreessen Horowitz, according to PitchBook.   

Imprint — $1.2 billion: This fee processing company, based in 2020, last raised a $149 million Series D. It has raised more than $420 million in funding to this point from buyers including Khosla and Kleiner Perkins, according to PitchBook.   

HawkEye 360 — $2 billion: This defense-tech company, based in 2015, last raised a $150 million Series E. It has raised nearly $500 million in funding to this point from buyers 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 round $650 million in funding to this point from buyers including SPARZ Group Company and Resilience Reserve, according to PitchBook.   

Erebor — $4.3 billion: This crypto financial institution for crypto shoppers raised a $350 million seed round. Founded in 2025, this company’s buyers embody Lux Capital, according to PitchBook.  

November 

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

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

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

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

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

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

PDWQ — $1.2 billion: This company makes use of AI to create and function drones. It last raised a $35 million Series B3. Founded in 2019, it has raised $60 million in funding to this point from buyers including Ondas Holdings, according to PitchBook.  

Eight Sleep — $1.5 billion: This good mattress producer last raised a$100 million Series D, with buyers including Khosla Ventures and Founders Fund. Overall, the company has raised more than $250 million in funding to this point, according to PitchBook.   

Proof — $1 billion: This is an identity verification enterprise that helps firms confirm the identities of their customers. Founded in 2015, it last raised an $80 million Series E, with buyers including Canapi Ventures and Polaris Partners. The company has raised round $320 in enterprise funding to this point, according to PitchBook.   

Reflection — $8 billion: This company is constructing open basis fashions. Founded in 2024, it last raised a $2 billion Series B round, with buyers including Lightspeed Venture Partners and Sequoia, according to Pitchbook. The company has raised $2.2 billion in funding to this point.   

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

Reve — $1.9 billion: This company produces a tool that turns textual content to photographs without the want for superior immediate engineering, according to PitchBook. The company was based in 2023 and last raised a $350 million Series B. Investors embody Left Lane Capital.   

October 

Modal — $1.1 billion: This AI cloud computing platform, based 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 buyers and has raised round $110 million in funding to this point.   

Fireworks AI — $4 billion: This AI infrastructure platform for open source fashions, based 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 buyers and has raised more than $320 million in funding to this point.   

Substrate — $1 billion: This semiconductor fabrication company, based 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 buyers.   

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

New Limit — $1.6 billion: This precision medication company, based 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 this point.   

Tempo — $5 billion: This blockchain funds 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 based in 2025.   

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

Stoke — $2 billion: This sustainable rocket company, based 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 buyers and has raised round $1 billion in funding to this point.   

 Apex — $1 billion: This company, which makes use of off-the-shelf parts for constructing satellites, was based 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 buyers and has raised more than $500 million in funding to this point.   

September  

You.com — $1.5 billion: This company enterprise AI platform sells AIs to assist companies use AI more successfully. It last raised a $100 million Series C giving it a $1.5 billion valuation, according to PitchBook. It was based in 2020, counts Time Ventures and Cox Enterprises as buyers, and has raised more than $190 million in funding to this point.   

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

Filevine — $3 billion: This authorized case administration startup last raised a $260 million Series E, counting Accel and Insight Partners as buyers, according to Crunchbase. It was based in 2014.  

Baseten — $2.2 billion: This AI company focuses on mannequin inference to assist companies build and deploy their AI fashions more successfully. 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 buyers and has raised more than $280 million in funding to this point.   

Invisible — $2 billion: This AI technology integrates into manufacturing software to assist analyze motion, like from people or robots, on manufacturing unit flooring. It was based in 2015, last raised a $100 million round giving it a $2 billion valuation, according to PitchBook. It counts Vanara Capital as buyers and has raised more than $120 million in funding to this point.   

Flying Tulip — $1 billion: This decentralized buying and selling platform, based 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 buyers.   

Distyl — $1.8 billion: This platform generates and deploys AI native workflows into enterprise operations. It was based 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 buyers and has raised more than $200 million to this point.   

Modular — $1.6 billion: This AI infrastructure platform lets enterprises update AI programs without impacting the entire system. It counts General Catalyst and GV as buyers, last raised a $250 million round giving it a $1.6 billion valuation, according to PitchBook. It was based in 2022 and has raised round $380 million to this point.   

Thyme Care — $1.5 billion: This oncology platform helps present customized cancer care. It was based in 2020, last raised a $97 million Series D, giving it a $1.5 billion valuation. It counts a16z and Concord Health Partners as buyers and has raised round $280 million in funding to this point, according to PitchBook.   

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

Base — $4 billion: This company equipes house with backup house batteries. It was based 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 buyers and has raised more than $1.3 billion in funding to this point.   

Eve – $1.1 billion — This authorized AI platform helps with duties such as consumption and analysis, and drafting pre-litigation letters. It counts a16z and Lightspeed Venture Partners as buyers, last raised a $103 million Series B, giving it a $1.1 billion valuation, according to PitchBook. It was based in 2020 and has raised more than $160 million in funding to this point.   

Posthog — $1.4 billion: This platform that makes devops instruments, based 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 buyers, has raised more than $180 million in funding to this point.   

August 

Shrapnel — $1.1 billion: This video game developer, based in 2014, has raised more than $38 million in funding to this point from buyers 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 builders create pictures, video, and audio. It was based in 2021, has raised more than $440 million in funding to this point, from buyers including a16z, Kindred Ventures, and Sequoia Capital. The company last raised an round $250 million late late-stage round, giving it a $4 billion valuation.   

CompanyCam — $2 billion: This project administration platform makes use of AI to assist make job web site administration more environment friendly. It was based in 2015, has raised more than $450 million in funding to this point from buyers 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 firms autonomously function robots. Founded in 2023, this company has raised more than $500 million in funding to this point, according to PitchBook, from buyers 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 materials science company announced a $300 million seed with a16z as an investor, giving it a $1 billion valuation, PitchBook estimates. It was based just this 12 months.   

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

July 

Castellion — $2.8 billion: This company creates army programs to scale and manufacture strike programs. It has raised more than $460 million in funding to this point, according to PitchBook. Investors in the company, based in 2022, embody 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 electrical mobility company, based in 2025, has raised more than $300 million to this point, according to PitchBook, with buyers including Greenoaks Capital and Eclipse Ventures. It was initially incubated in the electrical automobile company Rivian. The company last raised a $200 million round giving it a $1 billion valuation.   

MaintainX — $2.5 billion: This administration software company helps companies assess team performance and handle work orders. It was based in 2018, and has raised more than $240 million to this point, according to PitchBook, with buyers 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 customized healthcare company makes use of AI to assist present digital care. It was based in 2025, has raised more than $100 million to this point. The company permits clinicals to make use of AI brokers to diagnose and deal with sufferers and last raised a $100 million seed giving it a $1.2 billion valuation.   

Substack — $1.1 billion: This publication platform, based in 2017, has raised more than $200 million to this point, according to PitchBook, with buyers including a16z. The company last raised a $100 million Series C giving it a $1.1 billion valuation.   

Erebor — $2 billion: This company, presently in stealth, was based in 2025 and has raised more than $250 million in accordance to PitchBook, from buyers including Founders Fund. The financial institution works with crypto shoppers and startups. The company last raised a $250 million seed giving it a $2 billion valuation.   

Reka — $1 billion: This AI mannequin builder company, based in 2022, has raised more than $160 million to this point in funding, according to PitchBook, with buyers 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 cell mapping company, based in 2009, has raised more than $380 million in funding to this point, according to PitchBook, from buyers including Summit Partners. The company marks property boundaries to assist customers keep on permitted paths as they journey. It last raised a $280 million Series C giving it a practically $1.4 billion valuation.   

Ambience — $1.25 billion: This AI medical scribe, based in 2020, has raised more than $340 million to this point, according to PitchBook, with buyers 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 presents open source workflow options, was based in 2012 and has raised more than $220 million in funding to this point, according to PitchBook, from buyers 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 administration tool last raised an $82 million Series C, valuing the company at $1.25 billion, according to PitchBook. The company, based in 2019, has raised more than $130 million in funding to this point from buyers, 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 this point from buyers, including Cox Enterprises and Drive Capital. 

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

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

Thinking Machines — $10 billion: This AI research company, based just last 12 months by OpenAI alum Mira Murati, raised a $2 billion seed round, valuing the company at $10 billion, according to PitchBook. The company’s buyers embody a16z and Nvidia. 

Kalshi — $2 billion: The fashionable prediction markets company, based 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 this point, from buyers including Sequoia and Global Founders Capital. 

Decagon — $1.5 billion: This customer support AI agent company, based 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 this point from buyers, including a16z and Accel. 

May

Pathos — $1.6 billion: This drug development company, based 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 this point from buyers, including General Catalyst and Altimeter Capital Management. 

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

Function — $2.5 billion: This health tech company, based 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 this point from buyers, including a16z. 

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

Owner — $1 billion: This restaurant advertising software company, based 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 this point from buyers, including Headline, Redpoint Ventures, SaaStr Fund, and Meritech Capital. 

Awardco — $1 billion: This worker engagement platform last raised a $165 million Series B, valuing the company at $1 billion, per PitchBook. The company, based in 2012, has raised more than $230 million in funding to this point from buyers, 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, based in 2020, has raised more than $100 million in funding to this point from buyers, including Index Ventures and Thrive Capital. 

Chapter — $1.38 billion: This Medicare information health tech company, based 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 this point, with buyers including XYZ Venture Capital and Narya. 

Threatlocker — $1.2 billion: This Orlando-based data safety company last raised a $60 million Series E, valuing the company at $1.2 billion, according to PitchBook. The company, based in 2017, has raised more than $200 million in funding to this point from buyers, 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 this point, with buyers including Khosla Ventures and Redpoint Ventures.

March 

Fleetio — $1.5 billion: This Alabama-based startup creates software to assist make fleet operations simpler. 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 this point, with buyers 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 based in 2024, has raised $300 million to this point 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 buyers. It has raised more than $580 million in capital to this point, per PitchBook. 

Underdog Fantasy — $1.3 billion: The sports activities gaming company last raised a $70 million Series C valuing the company at $1.3 billion, according to Crunchbase. The company, based in 2020, has raised more than $100 million in capital to this point, per PitchBook. Investors embody 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 complete, according to PitchBook, with buyers 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 this point in capital, and counts Lilly Ventures and Value Partners Group as buyers. 

Olipop — $2 billion: This fashionable probiotic soda company last raised a $137.9 million Series C at a $1.96 billion valuation. It was based in 2018 and has raised $243 million to this point, with buyers 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 this point, according to PitchBook, with buyers including Sequoia and Fifth Down Capital. 

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

February 

Abridge — $2.8 billion: This medtech company, based 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 this point in funding and counts Elad Gil and IVP as buyers. 

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

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

January

Kikoff — $1 billion: This private finance platform last raised an undisclosed quantity that valued it at $1 billion, according to PitchBook. The company, based in 2019, has raised $42.5 million to this point and counts Female Founders Fund, Lightspeed Venture Partners, and basketballer Steph Curry as buyers. 

Netradyne — $1.35 billion: Founded in 2015, this pc imaginative and prescient 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, based in 2023, creates healthcare fashions. 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 buyers embody 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 this point and counts Sequoia, First Round, Boldstar, and Box Group as buyers.  

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

Loft Orbital — $1 billion: Founded in 2017, the satellite tv for pc 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 initially revealed in February and is up to date periodically with new info.

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