Eleven corporations joined the Crunchbase Unicorn Board in April 2024 – a large increase from the six corporations that joined in April 2023, but still a fraction of the 40 added to the board in April 2022.
The AI, Web3 and e-commerce sectors each added two corporations to the board, Crunch Base data shows.
Of the 11 new unicorns created last month, six are from the US and one each from Germany, France, Brazil, the Cayman Islands and Australia.
He raised the largest round among the new unicorns Xair therapywhich announced initial funding of $1 billion following a stealth launch.
Two of April’s new unicorn corporations were valued at $1 billion in their first yr: Xaira Therapeutics and Cognition.
Two unicorn corporations also left management after being valued above their last private value. Cybersecurity company Heading and a money prize company Ibotta each went public in April on New York Stock Exchange.
However, 4 corporations already listed as unicorns increased their valuations compared to the previous rounds. Island, a secure browser company, has doubled its valuation from its previous funding round six months ago. AND FloQast, Rippling AND Ramp each raised rounds from previous funds.
Let’s take a look at the new unicorns in April by sector.
artificial intelligence
- CognitionDevin’s creator, a member of the AI software engineering team, raised $175 million in Series A funding led by Founders Fund. The lower than a yr old San Francisco-based company was valued at $2 billion.
- Based in San Francisco AI embarrassment raised $63 million in funding under leadership Daniel Grossformer head of AI at Y Combinator. The year-old company was valued at $1 billion.
E-commerce
- Based in Berlin Autodoctoronline auto parts retailer, raised minority-led financing Apollo. The 15-year-old company was valued at $2.5 billion.
- Social video trading app Flip raised $144 million in Series C, led by: Streamlined endeavors. The 4-year-old Los Angeles-based company was valued at $1.2 billion.
Web3
Healthcare
Security and privacy
- New York-based data security platform White raised $300 million in Series C led by Coat. The 2-year-old company was valued at $1.4 billion.
Professional services
- A business forecasting platform based in Paris Pigment raised $144 million in a Series D round that valued the company at $1 billion. He managed the financing Iconiq development. The four-year-old company announced that it did tripled its revenues and has doubled its customer base over the past yr.
Financial services
- Based in São Paulo QI Techfinancial services infrastructure company, raised an undisclosed amount in a Series B extension led by General of the Atlantic which valued the five-year-old company at $1 billion. Six months earlier, General Atlantic also led $200 million in Series B financing. QI Tech provides corporations with the ability to offer credit and banking services to customers.
Food and drinks
- Based in New South Wales Guzman and Gomez, an Australian Mexican-themed restaurant chain, raised $135 million at a $1.7 billion valuation. The 17-year-old company plans to expand to the American market.
Methodology
The Crunchbase Unicorn Board is a curated list of private unicorn corporations with a post-money valuation of at least $1 billion, based on Crunchbase data. There are new corporations added to the Unicorn Board after it reached $1 billion in funding round.
The unicorn board does not reflect internal company valuations – corresponding to those determined through the 409a process for worker stock options – because they are different from the valued financing round and will probably be lower. We also do not adjust valuations based on investor write-downs, which change quarterly, because different investors won’t value the same company consistently in the same quarter.
Unicorn company financing includes all private financing of corporations designated as unicorns, in addition to those who have since transformed into Coming out unicorn board.
The exits analyzed here include only the firm’s first exit.
Please note that each one financing amounts are in US dollars unless otherwise noted. Crunchbase converts foreign currency echange to U.S. dollars at the spot rate in effect on the date financing rounds, acquisitions, IPOs and other financial events are reported. Even if these events were added to Crunchbase long after the event was announced, currency transactions are converted at the historical spot price.