A total of 20 companies joined The Crunchbase Unicorn Board in October, adding $44.5 billion in value. This was the highest valuation amount added to the unicorn board for a new cohort in the past three years.
The number of new monthly entrants has ...
A total of 20 companies joined The Crunchbase Unicorn Board in October, adding $44.5 billion in value. This was the highest valuation amount added to the unicorn board for a new cohort in the past three years.
The number of new monthly entrants has picked up in recent months. The top 20 companies on the board have also been reshuffled and we’ve seen a marked increase in new decacorn-valued companies.
Of the 20 companies that joined in October, 11 came from the U.S. China added three new unicorns and Sweden contributed two. Europe, the U.K., Germany and Ukraine each minted one new unicorn, as did India.
Among the new entrants, New York-based open model developer Reflection and Austin-based residential battery operator Base Power each raised billion-dollar rounds that valued them as unicorns for the first time.
The highest valued among the new unicorns were Reflection, which was valued at $8 billion, and San Francisco-based payments blockchain Tempo, valued at $5 billion.
Exits
A pair of companies from the unicorn board were acquired in October: Passwordless authentication company Stytch was acquired by Twilio, and Nexthink, an IT employee experience platform was acquired by Vista Equity Partners. In another October exit, data management tooling company dbt Labs merged with Fivetran in an all-stock deal.
Three companies also went public: Silicon Valley-based travel and expense management company Navan, Shanghai-based e-commerce software platform Jushuitan Network Technology, and Beijing-based silicon wafer production company Eswin Materials.
New unicorns
Here are October’s 20 newly minted unicorns across multiple sections. AI led with four companies, transportation with three, and healthcare and financial services followed, each with two companies.
AI
Transportation
Healthcare and biotech
Financial services
Web3
Energy
Aerospace
Professional services
E-commerce
Sales and marketing
Defense tech
Beauty
Semiconductor
Related Crunchbase unicorn lists:
Related reading:
Methodology
The Crunchbase Unicorn Board is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on Crunchbase data. New companies are added to the Unicorn Board as they reach the $1 billion valuation mark as part of a funding round.
The unicorn board does not reflect internal company valuations — such as those set via a 409a process for employee stock options — as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.
Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to The Exited Unicorn Board.
Exits analyzed here only include the first time a company exits.
Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.
Illustration: Dom Guzman
Clarification: This story has changed since its original publication to correct an error in the Exits section.
