Ten new unicorns globally added more than $18 billion in value to The Crunchbase Unicorn Board in February, but in a sign that the long-term status of many companies on the board are in flux, one startup fell off completely after its valuation was slashed to less than a third of a unicorn valuation.
Two companies from China joined the board after raising around a billion dollars in funding each: a year-old foundation model company and a 6-year-old satellite network company.
The next-largest funding for a new February unicorn was raised by a 2-year-old U.S.-based robotics company.
The artificial intelligence theme was evident again on the board last month: Two of the new companies on the board are in the AI sector, and many of the other newcomers have the technology woven into their products.
Four of the new unicorns hail from the U.S., three from China and one each from France, The Netherlands and Italy.
Now let’s take a closer look at the new unicorns of February 2024 and the sectors from which they hail.
While 10 new companies joined the board, one fell off.
Online checkout company Bolt was removed from the unicorn board as the company initiated a share buyback plan at a mere $300 million valuation, as reported by The Information. In that move, the company shaved 97% off its value from its last known valuation of $11 billion in January 2022.
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
Ten new unicorns globally added more than $18 billion in value to The Crunchbase Unicorn Board in February, but in a sign that the long-term status of many companies on the board are in flux, one startup fell off completely after its valuation was slashed to less than a third of a unicorn valuation.
Two companies from China joined the board after raising around a billion dollars in funding each: a year-old foundation model company and a 6-year-old satellite network company.
The next-largest funding for a new February unicorn was raised by a 2-year-old U.S.-based robotics company.
The artificial intelligence theme was evident again on the board last month: Two of the new companies on the board are in the AI sector, and many of the other newcomers have the technology woven into their products.
Four of the new unicorns hail from the U.S., three from China and one each from France, The Netherlands and Italy.
Now let’s take a closer look at the new unicorns of February 2024 and the sectors from which they hail.
While 10 new companies joined the board, one fell off.
Online checkout company Bolt was removed from the unicorn board as the company initiated a share buyback plan at a mere $300 million valuation, as reported by The Information. In that move, the company shaved 97% off its value from its last known valuation of $11 billion in January 2022.
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