Tech Unicorns 2025: Top 100 New Billion-Dollar Startups
With AI igniting an investor frenzy, every month, more startups obtain unicorn status.
using data from Crunchbase and pitchbook, TechCrunch tracked down the VC-backed startups that became unicorns in 2025. While most are AI-related, a surprising number are focused in other industries like satellite space companies Loft Orbital and blockchain-based trading site Kalshi.
This list will be updated throughout the year, so check back and see the latest powerhouse startups that are now worth over $1 billion.
december
Heven Aerotech -$1 billion: This startup,founded in 2019,is creating hydrogen-powered drones. It last raised a $100 million Series B, and has raised $115.2 million in total capital to date. Investors include IonQ, according to PitchBook.
Unconventional AI – $4.5 billion: This startup, founded in 2025 by Databricks former head of AI, Naveen Rao, is working on an energy-efficient computer for AI. It last raised a $475 million seed round from investors including Andreessen Horowitz and Lightspeed, Rao told Bloomberg.
Saviynt – $3 billion: This identity management cybersecurity startup, launched in 2010, last raised a $700 million Series B. It has raised $740 million in funding to date from investors, including KKR, according to PitchBook.
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Serval – $1 billion: This startup creates AI agents to help IT professionals complete tasks. Founded in 2024, the company last raised a $74.8 million Series B. It has raised around $126 million in funding to date from investors including Sequoia and Redpoint, according to PitchBook.
Chai Discovery – $1.3 billion: This startup creates models that help predict the structure of biochemical molecular structures. Founded in 2024,the company last raised a $130 million Series B. it has raised close to $230 million in funding to date from investors including General Cat
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. 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 fundi
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
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
May
Ferrer – $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.
Pathos – $1.6 billion: This drug progress 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 ra
January
Hightouch – $1.2 billion: Hightouch is a data platform that enables companies to activate their data in the tools their teams use daily. The company was founded in 2019 and has raised $125 million to date, with investors including Sequoia and Fifth Down Capital.
Assured
Assured – $1 billion: Assured is an AI company that helps process claims and achieved a $1 billion valuation after a $23 million Series B funding round. Launched in 2019, the company has raised over $26 million, with ICONIQ Capital and Kleiner Perkins among its investors.
February
Abridge – $2.8 billion: Abridge, a medtech company founded in 2018, reached a $2.75 billion valuation following a $250 million Series D funding round, according to PitchBook. The company has secured more than $460 million in funding, with Elad Gil and IVP as investors.
OpenEvidence – $1 billion: OpenEvidence, a medtech company established in 2017, attained a $1 billion valuation after a $75 million Series A funding round, as reported by PitchBook. The company has raised a total of $135 million in funding, with Sequoia Capital as an investor.