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

With AI igniting an investor frenzy, every month, more startups obtain unicorn status.

Using data from Crunchbase andPitchBook, TechCrunch tracked down the VC-backed startups that became unicorns in 2025. While most are AI-related, a surprising number are focusedinother 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.

Savage — $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.

On the edge — $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 Catalyst and Thrive Capital, according to PitchBook.

MoEngage — $1.1 billion: This customer analytics platform, founded in 2014, last raised a $280 million Series F. It has raised around $450 million in funding to date, from investors including A91 Partners and Goldman Sachs Asset Management, according to PitchBook.

Radiant — $1.8 billion: This nuclear renewable energy company looks to provide an alternative to diesel. Founded in 2019, this company last raised a $300 million Series D and has raised more than $500 million in funding to date from investors including Draper Associates and Andreessen Horowitz, according to PitchBook.

Imprint — $1.2 billion: This payment processing company, founded in 2020, last raised a $149 million Series D. It has raised more than $420 million in funding to date from investors including Khosla and Kleiner Perkins, according to PitchBook.

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 billionvaluation,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.

sun — $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 billionvaluation, 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 foropen sourcemodels, founded in 2022, last raised a $250 million Series C giving it a$4 billionvaluation, 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 seedroundgiving it a$1 billionvaluation, according to Pitchbook.ItcountsValorEquity 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 billionvaluation, 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 millionroundvaluing 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 billionvaluation, 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 billionvaluation, according to Pitchbook. It countsBraidwelland 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 billionvaluation,according toPitchBook.It countsMaCVenture capital, and the USInnovation Technology Fund as investorsandhas raised around$1 billionin funding to date.

Apex— $1 billion:Thiscompany, which uses off-the-shelfcomponentsfor building satellites,wasfounded in 2022andlast raised a $200 million Series D, giving it a$1 billionvaluation, according to PitchBook. It counts Andreessen Horowitzand 8VC as investors and has raised more than $500 million in funding to date.

September

You.com— $1.5 billion: Thiscompanyenterprise AI platform sells AIs to help businesses use AImore effectively. Itlast raised a $100 million Series C giving it a$1.5 billionvaluation, 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 drugdiscoveryanalyticsplatform, which counts Lux Capital and TrueVenturesas investors, last raised a $150 million Series D giving it a$1.2 billionvaluation, according to PitchBook.It was founded in 2019 and has raised $520 million to date in funding.

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

The basset hound—$2.2 billion: ThisAI company focuses on model inference to helpbusinessesbuild and deploy their AI models more effectively. Founded in 2019,itlast raised a $150 million Series D, giving it a$2.2 billionvaluation, 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: ThisAI technology integrates into manufacturing software to helpanalyze movement,like fromhumans or robots, on factory floors. It wasfounded in 2015, last raised a $100 millionroundgiving it a$2 billionvaluation, according to PitchBook.It counts Vanara Capital as investors and has raised more than$120million in funding to date.

Flying Tulip—$1 billion: This decentralized trading platform, founded in 2025, last raised a $200 million seedroundgiving it a$1billionvaluation, according to PitchBook.It countsCoinFundManagement and Susquehanna Capitalas investors.

Disturbed—$1.8 billion: Thisplatform generates and deploys AI native workflowsinto business operations. Itwasfoundedin 2022, last raised a $175million Series B, giving it a$1.8 billionvaluation, 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 platformlets enterprises update AI systems withoutimpactingthewhole system. Itcounts General Catalyst and GV asinvestors,last raised a $250 million round giving it a$1.6 billionvaluation, according to PitchBook.It was founded in 2022 and has raisedaround $380 million to date.

Thyme Care— $1.5 billion: This oncology platformhelps provide personalized cancer care. It was foundedin 2020, lastraised a $97 million Series D, giving it a$1.5 billionvaluation. 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 companyworks withcliniciansto help care for those with kidney disease. Itlast raised a $300 million Series D countingNEA as investors, according to Crunchbase, giving it a$1.8 billionvaluation.It was founded in 2018.

Base—$4 billion: Thiscompany equipes home with backup home batteries. It was foundedin 2023, last raised a$1billionSeries C,giving ita$4billionvaluation, according toPitchBook. Itcounts a16z and Valor Equity Partners as investors and has raised more than$1.3 billionin funding to date.

Eve– $1.1 billion — This legal AIplatformhelps with tasks such as intake andevaluation,anddrafting pre-litigation letters.Itcounts a16z and Lightspeed Venture Partners as investors, last raised a $103 million Series B, giving it a$1.1 billionvaluation, according to PitchBook. It was founded in 2020 and hasraisedmore than $160 million in funding to date.

Posthog— $1.4 billion: Thisplatformthatmakesdevopstools,founded in 2020, last raised a $75 million Series E, giving it a$1.4 billionvaluation, 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: Thisvideo 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 toPitchBook.The company last raised a $19.5millionSeries A, giving it a$1.1 billionvaluation.

Fal—$4 billion: Thisplatform helps developers create images, video, and audio. It was founded in2021,has raised more than $440 million in funding to date, from investors including a16z, Kindred Ventures, and Sequoia Capital.The companylast raisedan around$250 millionlate late-stageround,giving it a$4 billionvaluation.

CompanyCam— $2 billion: Thisproject management platformuses AI to help make job site management more efficient. It wasfoundedin 2015, has raised more than $450millionin funding to date from investors including B Capital Group andInsightPartners. It last raised a $415 million Series C, giving it a$2 billionvaluation.

Field AI—$2 billion: This AI company helpscompanies autonomouslyoperaterobots. 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 millionround,giving it a$2 billionvaluation.

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

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

July

Castellion—$2.8 billion: This companycreates military systemsto scale andmanufacturestrike systems. It has raised more than $460 million in funding to date, according to PitchBook. Investors in the company, founded in2022, includea16zand Lightspeed Venture Partners.The company last raised a $350millionSeries B,giving it a$2.8billionvaluation.

Also—$1 billion:Thiselectric mobility company, founded in2025, has raised more than $300 million to date, according to PitchBook, with investors includingGreenoaksCapital and Eclipse Ventures.It was originally incubatedinthe electric vehicle company Rivian.The company last raised a $200 millionroundgiving it a$1billionvaluation.

MaintainX— $2.5 billion: Thismanagement software companyhelps businesses assess team performance and manage work orders.It wasfounded in2018,andhasraised 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 SeriesD, givingit a$2.5 billionvaluation.

Note Health—$1.2 billion: Thispersonalized healthcare companyuses AI to help provide virtual care. It was founded in2025,has raised more than $100 million to date. The companyallows clinicals to use AI agents to diagnose and treat patientsand last raised a $100 millionseedgiving it a$1.2billionvaluation.

Substack— $1.1 billion: Thisnewsletter platform,founded in2017, has raised more than $200 million to date, according to PitchBook, with investors including a16z.The company last raised a $100million Series Cgiving it a$1.1 billionvaluation.

Erebor— $2 billion: This company,currently instealth, was founded in 2025 and has raised more than $250 million accordingto PitchBook, from investors including Founders Fund. The bank works with crypto clients and startups.The company last raised a $250 millionseedgiving it a$2 billionvaluation.

Delicious— $1 billion:This AI modelbuildercompany, 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 millionearly-stageroundgivingit a$1 billionvaluation.

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 boundariestohelp users stay onpermittedpaths as they travel.It last raised a $280 million Series C giving it anearly$1.4 billionvaluation.

Ambience— $1.25billion:This AI medical scribe, founded in 2020, has raised more than $340 million to date, according to PitchBook, withinvestors including OpenAI Startup Fund, a16z, and Kleiner Perkins.The company last raised a $243millionSeriesC, givingit a$1.25 billionvaluation.

Anaconda— $1.5 billion:ThisAI platform, which offersopen sourceworkflowsolutions, 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 SeriesC, givingit a$1.5 billionvaluation.

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.

Stately — $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.

Olipap — $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.