In 2024, 38 unicorn companies have emerged. Which companies in the crypto sector made the list?

Author: Dominic-Madori Davis

Compiled by: Deep Tide TechFlow

Despite challenges in the venture capital market, unicorn companies continue to emerge every month.

According to data from Crunchbase, CB Insights, and PitchBook, TechCrunch has tracked the newly established unicorn companies this year. The list includes Elon Musk's xAI, which has reached an astonishing valuation of $24 billion, along with many other AI startups. Companies in the cybersecurity, health tech, and fintech sectors have also performed well. This list will be updated throughout the year, so stay tuned for this year's strong enterprises!

July

Aven --- $1 billion: Founded in 2019, Aven is a consumer credit card company. According to CB Insights, it reached a valuation of $1 billion after completing a Series D funding round of $142 million led by Khosla Ventures and General Catalyst.

Flo Health --- $1 billion: According to TechCrunch, this fertility tracking app announced the completion of a $200 million Series C funding round, bringing the company's valuation to over $1 billion. Founded in 2015, the company has raised over $290 million from investors including General Atlantic.

Altana Technologies --- $1 billion: This global supply chain management company, founded in 2018, completed a Series C funding round of $200 million, bringing its valuation to $1 billion. Investors include Salesforce Ventures and the U.S. Innovation Technology Fund. PitchBook notes that the company has raised approximately $322 million.

Chainguard --- $1.1 billion: This cybersecurity company announced the completion of a $140 million Series C funding round, bringing its valuation to $1.12 billion. Chainguard was founded in 2021 and has raised over $256 million from investors including Redpoint Ventures, Lightspeed Venture Partners, and Sequoia Capital to date.

Harvey --- $1.5 billion: The legal AI platform Harvey raised $100 million from investors including Google Ventures, OpenAI, Kleiner Perkins, and Sequoia Capital to reach a valuation of $1.5 billion. It has now raised a total of $206 million.

Saronic Technologies --- $1 billion: Saronic is a defense tech company manufacturing autonomous surface vessels, which completed a $175 million Series B funding round led by Andreessen Horowitz, reaching a valuation of $1 billion, with other investors including 8VC, Caffeinated Capital, and Elad Gil. According to PitchBook, the company has raised $244.5 million to date.

June

Huntress --- $1.55 billion: This managed cybersecurity startup providing extended detection and response (EDR) technology completed a $150 million Series D funding round, bringing its valuation to $1.55 billion. The company has raised over $300 million to date. Founded in 2015, its investors include Kleiner Perkins and Sapphire Ventures, according to PitchBook.

xAI --- $24 billion: Founded by Elon Musk last year, this AI startup reached a valuation of $24 billion after completing a Series B funding round of $6 billion, with investors including Andreessen Horowitz, Craft Ventures, Fidelity Investments, and Sequoia Capital. xAI offers a multimodal large language model called Grok.

BillionToOne --- $1 billion: This disease screening genetic testing company completed a $130 million Series D funding round, bringing its valuation to $1 billion, according to Crunchbase.

May

Altruist --- $1.5 billion: This fintech startup provides investment management services for independent registered investment advisors and was founded in 2018. In May, it completed a Series E funding round of $169 million, bringing its valuation to $1.5 billion. According to PitchBook, the company has also received investments from Insight Partners and Endeavor Catalyst, raising over $450 million to date.

Weka --- $1.6 billion: This SaaS data storage company focused on AI use cases completed a Series E funding round of $140 million, bringing its valuation to $1.6 billion, according to PitchBook. Founded in 2013, the company has raised approximately $375 million to date, with investors including Valor Equity Partners, Generation Investment Management, and Nvidia.

Farcaster --- $1 billion: This open-source blockchain social media startup completed a Series A funding round of $150 million led by Paradigm, bringing its valuation to $1 billion. Founded in 2021, the company has raised over $180 million to date from supporters including a16z and Union Square Ventures, according to PitchBook.

Sigma Computing --- $1.5 billion: This AI-driven big data analytics startup completed a funding round in May, bringing its valuation to $1.5 billion. According to Crunchbase, the company has raised nearly $560 million to date.

Humanity Protocol --- $1 billion: This blockchain-based biometric identity startup, founded in 2023, completed a $30 million seed funding round, bringing its valuation to $1 billion. Overall, the company has raised $30 million from investors including hedge funds Ash Park Capital and Aza Ventures, according to PitchBook.

April

Cyera --- $1.5 billion: Data security provider Cyera successfully raised a Series C funding round of $300 million in April, bringing its valuation to $1.5 billion, according to PitchBook. Founded in 2021, the company has raised $460 million to date from investors including Redpoint Ventures and Accel.

Monad Labs --- $3 billion: Monad is developing a faster version of the Ethereum blockchain and completed a $225 million Series A funding round in April, bringing the company’s valuation to $3 billion. To date, the company has raised over $244 million from investors including Amber Group and Artichoke Capital.

Nexamp --- $1.5 billion: This clean energy company raised $520 million in April, combining debt and venture financing, bringing its valuation to $1.08 billion, according to PitchBook. Founded in 2007, the company has raised over $1.31 billion to date.

Grow Therapy --- $1.4 billion: This health tech company focuses on helping users find the right therapists and was founded in 2020. In April, it completed an Series C funding round of $88 million, bringing the company's valuation to $1.4 billion. To date, the company has raised nearly $180 million from investors including Sequoia Capital, Goldman Sachs, and actress Anna Kendrick.

Cognition AI --- $2 billion: Cognition is developing AI software engineers named Devin and reportedly raised $175 million in a Series B funding round in April, bringing the company's valuation to $2 billion. According to PitchBook, the company was founded in 2023 and has raised $196 million to date, with investors including Founders Fund, Khosla Ventures, and Pear.

Xaira Therapeutics --- $2.7 billion: This AI drug discovery startup, founded in 2023, launched with a massive $1 billion Series A funding round in April, bringing its valuation to $2.7 billion. The company has raised a total of $1 billion from investors including ARCH Venture Partners, Foresite Capital, Menlo Ventures, Lux Capital, and New Enterprise Associates.

Flip --- $1.19 billion: This social e-commerce platform, founded in 2019, raised $144 million in a Series C funding round in April, bringing its valuation to $1.19 billion, according to PitchBook. To date, the company has raised over $300 million from investors including ad tech giant AppLovin, Streamlined VC, and Mubadala Sovereign Wealth Fund to date.

March

io.net --- $1 billion: This cloud service puts data center and cryptocurrency miner GPUs into a decentralized network for AI model use, founded in 2019. (It was initially aimed at quantitative trading.) According to PitchBook, it completed a $33 million Series A funding round in March, bringing the company's valuation to $1 billion. The company has raised only $35 million to date, with investors including 6th Man Ventures, Foresight Ventures, and ArkStream Capital.

Perplexity --- $1 billion: This well-known AI search engine raised a Series B funding round of $73.6 million in January, with a valuation of $520 million, and then added $62.7 million in April, doubling Perplexity’s valuation to $1.04 billion. The company has raised $165 million to date.

Octane --- $1.1 billion: Octane provides instant financing for lawnmowers and recreational vehicles, raising $50 million in April, bringing its valuation to $1.11 billion. Founded in 2014, the company has raised approximately $250 million to date, with investors including Progressive and Gaingels.

Celestial AI --- $1.2 billion: This AI company raised $175 million in a Series C funding round in March, bringing its valuation to $1.2 billion, led by billionaire Thomas Tull's USIT fund. The company has raised $339 million to date from investors including Koch Disruptive Technologies, Temasek, AMD, Samsung Catalyst Fund, and Porsche Automotive Holdings.

IntraBio --- $1 billion: IntraBio is a company focused on drug discovery for neurodegenerative diseases, raising $40 million in funding in March, with a valuation of approximately $1 billion, according to Crunchbase. To date, the company has raised over $50 million.

Liquid Death --- $1.4 billion: TechCrunch reported that the last funding round for this beverage startup was a $67 million round, bringing its valuation to $1.4 billion. According to Crunchbase, Liquid Death has raised over $260 million to date.

February

Blink Health --- $1.3 billion: Founded in 2014, this online pharmacy received $81 million in private equity funding, bringing its valuation to $1.28 billion. The company has now received a mix of private equity and venture capital funding, raising over $250 million to date, with investors including 8VC and BoxGroup, according to PitchBook.

NinjaOne --- $1.9 billion: This mobile device management and security company raised a Series C funding round of $231 million in February, bringing its valuation to $1.9 billion. The company has raised $282.7 million to date from investors including ICONIQ Growth, according to PitchBook.

Ascend Elements --- $1.6 billion: This sustainable battery company raised $162 million in funding in February, bringing its valuation to $1.61 billion, according to PitchBook. To date, the company has raised over $1 billion from investors including Just Climate, Clearvision Ventures, and Irongrey to date.

Lambda --- $1.5 billion: This GPU cloud computing platform for AI raised $320 million in a Series C funding round in February, with a valuation of $1.52 billion. According to PitchBook, it raised another $800 million in July. The company has raised nearly $900 million in total, with investors including Garry Tan, Bloomberg Beta, and Alumni Ventures.

EigenLayer --- $1.1 billion: EigenLayer is a new project on Ethereum called staking, involving the use of Ethereum tokens as collateral. Founded in 2021, the company raised $100 million in a Series B funding round in February, led by a16z, bringing its valuation to $1 billion, according to PitchBook. The company has raised over $160 million in venture capital, with other supporters including Blockchain Capital and Apollo Crypto.

Figure --- $2.6 billion: This humanoid robotics company raised a Series B funding round of $675 million in February, bringing its valuation to $2.6 billion. According to PitchBook, Figure has raised nearly $850 million in venture capital, with investors including Bezos Expeditions, Calm Ventures, Intel, Nvidia, OpenAI, and Microsoft.

Together AI --- $1.25 billion: This company raised $675 million in a Series B funding round in February and $106 million in funding, led by Salesforce Ventures, bringing the company's valuation to $1.25 billion. According to PitchBook, Together AI has raised over $232 million in venture capital from investors including Hugging Face, NEA Partners, and 137 Ventures.

Bugcrowd --- $1 billion: This crowdsourced vulnerability remediation cybersecurity platform raised $102 million in Series E funding in February, led by General Catalyst, bringing the company's valuation to $1 billion, according to Crunchbase. To date, the company has raised over $180 million.

January

ElevenLabs --- $1 billion: This AI text-to-speech generation startup focused on voice dubbing raised $80 million in a Series B funding round in January, bringing its valuation to $1 billion. According to Crunchbase, ElevenLabs has raised $101 million to date, with investors including a16z, Sequoia Capital, and SV Angel.

Quantinuum --- $5.3 billion: Founded in 2021, this quantum computing cloud service raised $300 million in January, led by Honeywell, bringing its valuation to $5.3 billion, according to Crunchbase. PitchBook shows that IMB Ventures and JPMorgan Chase are also supporters of the company.

Zūm --- $1.3 billion: This school transportation fleet management startup completed a $140 million Series E funding round in January, led by Singapore's GIC, bringing Zūm’s valuation to $1.3 billion. According to Crunchbase, the company has raised a total of $350 million.

This article updates the valuation figures for Huntress and corrects the names of Forsite and Lambda.