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Eleven companies joined The ¸½½üÉÏÃÅ ¸½½üÉÏÃÅ in April 2024 — a big jump up from the six companies 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 companies to the board, data shows.

Of the 11 new unicorns created last month, six are U.S.-based, with one each from Germany, France, Brazil, Cayman Islands and Australia.

The largest round among the new unicorns was raised by , which announced an initial funding of $1 billion as it launched out of stealth.

Two of the new April unicorn companies were valued at a billion in their first year: Xaira Therapeutics and .

Two unicorn companies also exited the board at valuations above their last private value. Cybersecurity company and cash reward company both went public in April on the .

And four companies already listed as unicorns increased valuation from prior rounds. , a secure browser company, doubled its valuation from its previous funding round six months ago. And , and each raised up rounds from prior fundings.

Let’s look at the new unicorns in April by sector.

AI

• , maker of Devin, an AI software engineering teammate, raised a $175 million Series A funding led by . The less than 1-year-old San Francisco company was valued at $2 billion.
• San Francisco-based raised a $63 million funding led by , former lead of AI at . The 1-year-old company was valued at $1 billion.

E-commerce

• Berlin-based , an online auto parts dealer, raised a minority funding led by . The 15-year-old company was valued at $2.5 billion.
• Social video commerce app raised a $144 million Series C led by . The 4-year-old company based in Los Angeles was valued at $1.2 billion.

Web3

• Blockchain platform , a 2-year-old company based in the Cayman Islands, raised a $100 million Series B. The funding, led by and , valued the company at $1.5 billion.
• New York-based , a 1-year-old company, raised a $225 million Series A funding. The company is a layer 1 blockchain that can .  The funding was led by crypto investor and was valued at $1 billion.

Healthcare

• AI drug discovery platform , based in San Francisco, launched with a   $1 billion Series A funding. The company was incubated by and , which led the funding.

Security and privacy

• New York-based data security platform raised a $300 million Series C led by . The 2-year-old company was valued at $1.4 billion.

Professional services

• Paris-based business forecasting platform raised a $144 million Series D that valued the company at $1 billion. The funding was led by . The 4-year-old company announced it had and doubled its customer base in the last year.

Financial Services

• São Paulo-based , a financial services infrastructure company, raised an undisclosed amount in a Series B extension led by that valued the 5-year-old company at $1 billion. General Atlantic also led its $200 million Series B funding six months earlier. QI Tech provides businesses with the ability to offer credit and banking services to customers.

Food and beverage

• New South Wales-based , a Mexican-themed restaurant chain in Australia, raised $135 million at a value of $1.7 billion. The 17-year-old company plans to expand to the U.S. market.

Related ¸½½üÉÏÃÅ unicorn queries

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Methodology

The ¸½½üÉÏÃÅ ¸½½üÉÏÃÅ is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on ¸½½üÉÏÃÅ data. New companies are 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 .

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. ¸½½üÉÏÃÅ 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 ¸½½üÉÏÃÅ long after the event was announced, foreign currency transactions are converted at the historic spot price.

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