Complete List of Unicorn Companies Globally in 2025
Last Updated: March 2025
As of 2025, there are over 1,565 unicorns globally, spanning around 53 countries and 291 cities. This marks a notable increase from previous years, with the number rising significantly since 2019, when there were only 494.
The U.S. remains a leader, hosting over half of the world’s unicorns (760) and claiming more than 61% of the total valuation for new U.S. unicorns at nearly $25 billion. Notably, the reports show that the San Francisco Bay Area remains a key hub, retaining its status as the world’s leading city for unicorn startups, with around 190.
What Does A Unicorn Company Mean?
When a venture capital company’s net worth reaches the billion-dollar mark, they are called a “unicorn” company. Aileen Lee, the founder of CowboyVC, popularised calling privately held companies that achieved this threshold as a Unicorn company.
What Features Do Startups Need to Become Unicorns in 2025?
It is not easy for a company to become a unicorn in 2025, startups need to focus on several key features and strategies. Here are the key notable features of a unicorn company in 2025.
- Technology Driven: A recent research shows that a majority of the companies that have managed to achieve the unicorn status are software and the rest are either hardware or product & services companies.
- Innovative products and service: It is commonly seen that companies that are the first to do something unique and different achieve unicorn status. They innovate and change the norms, creating a new necessity. Additionally, such companies regularly keep innovating over the lifetime of the company to stay ahead of their competitors.
- Consumer-focused companies: When looked at, around 62% of the unicorn startup companies are customer-focused. Their main aim is to make things easy and simple for the people, being a part of their daily lives. One example is Spotify, they made listening to music from every corner of the world easy.
- Adaptability and Sustainability: These companies stay adaptable and respond swiftly to changing market demands. Emphasize sustainability to attract investment and support.
How Many Unicorn Companies Are There Globally in 2025?
There are over 1500 unicorn companies globally today. With a failure rate of 70-80% of startups within the first five years of operations, achieving a billion-dollar net worth is not an easy task. However, some companies have managed to do so despite the hurdles. The world of venture capital is booming, leading to many startups and companies achieving this threshold.
Current Unicorn Companies’ Trends
Explore the latest trends and key insights that are shaping the future of the most valuable unicorn companies in 2025. This section highlights the significant emerging trends and industry shifts among the top 100 unicorns by market value as of January 2025.
- Current unicorns raised over $971B in over 7,000 financing rounds from 8000 investors and have a cumulative valuation of $5.2T.
- Software, Financial Services & IT are the top industries for unicorns, followed by Science & Engineering and Data & Analytics.
- The US holds over half of the global unicorns, with a strong presence in enterprise tech & healthcare.
- The US leads in unicorns, followed by China, India, UK & Germany.
- The top five US unicorns by value are OpenAI ($157B), SpaceX ($125B), Stripe ($65B), Databricks ($43B), and Juul ($38B).
- Top unicorn investors: Tiger Global, Accel, Andreessen Horowitz & Sequoia Capital. Their unicorn investments include Juul, Waymo, ByteDance, Databricks, and Stripe.
Funding Distribution and Valuation
The highest-funded unicorn companies have collectively raised approximately $136 billion in equity funding. US Companies dominate the list with 7 out of 10 entries, followed by China and India with one company each.
OpenAI has the highest post-money valuation at $157 billion while having raised the third-highest amount of funding ($18B). Ant Group follows closely with a $150 billion valuation and $19 billion in funding. SpaceX has achieved a $137 billion valuation with relatively less funding ($9B) compared to its valuation.
Investment Patterns
Tech unicorn startup companies lead the list, especially in AI (OpenAI, xAI), data (Databricks), and transportation tech (Waymo, Cruise). Corporate investors play a significant role in several companies: Google in Reliance Jio, Alphabet in Waymo, and General Motors in Cruise.
Andreessen Horowitz appears as a lead investor in multiple companies (Databricks, SpaceX, Stripe), showing prominence in high-value investments. Three companies tied at $9B funding (SpaceX, Stripe, and Cruise), showing a common funding threshold for mature tech companies.
Industry Focus
AI and machine learning companies represent a significant portion of the list (OpenAI, xAI, Databricks). Autonomous transportation shows strong investment interest (Waymo, Cruise).
Financial technology maintains strong representation with Ant Group and Stripe. Space technology (SpaceX) continues to attract significant investment despite high capital requirements.
List of Unicorn Companies 2025
There are 1565 unicorn companies globally today. Here is the list of the top 110 unicorn companies:
| Sr. No | Company | Post Money Value | Total Equity Funding | Lead Investors Include | Country |
|---|---|---|---|---|---|
| 1 | ByteDance | $220B | $8B | Kohlberg Kravis Roberts Japan, Sequoia Capital | China |
| 2 | OpenAI | $157B | $18B | Thrive Capital | United States |
| 3 | Ant Group | $150B | $19B | GIC, Temasek Holdings | China |
| 4 | SpaceX | $137B | $9B | Andreessen Horowitz | United States |
| 5 | Reliance Retail | $100B | $8B | Abu Dhabi Investment Authority | India |
| 6 | Shein | $66B | $4B | General Atlantic, HongShan | China |
| 7 | Stripe | $65B | $9B | Andreessen Horowitz, Baillie Gifford | United States |
| 8 | Databricks | $62B | $14B | Andreessen Horowitz, DST Global | United States |
| 9 | Reliance Jio | $58B | $20B | India | |
| 10 | xAI | $50B | $12B | X (formerly Twitter) | United States |
| 11 | Revolut | $45B | $2B | Woodford Investment Management | United Kingdom |
| 12 | Waymo | $45B | $11B | Alphabet | United States |
| 13 | Checkout.com | $40B | $2B | Tiger Global Management | United Kingdom |
| 14 | JUUL | $38B | $15B | Altria | United States |
| 15 | Canva | $32B | $580M | Stack Capital | Australia |
| 16 | Fanatics | $31B | $5B | Clearlake Capital Group | United States |
| 17 | Cruise | $30B | $9B | General Motors | United States |
| 18 | Alibaba Bendi Shenghuo Fuwu Gongsi | $30B | $4B | Alibaba Group, SoftBank Vision Fund | China |
| 19 | Chime | $25B | $2B | Sequoia Capital Global Equities | United States |
| 20 | CoreWeave | $23B | $2B | Coatue | United States |
| 21 | Epic Games | $23B | $8B | The Walt Disney Company | United States |
| 22 | BYJU'S | $22B | $5B | Qatar Investment Authority | India |
| 23 | Envision Group | $21B | $2B | GIC, HongShan | China |
| 24 | J&T Express | $20B | $5B | EWTP Arabia Capital | Indonesia |
| 25 | FNZ | $20B | $1B | CPP Investments, Motive Partners | United Kingdom |
| 26 | ChangXin Memory Technologies | $19B | $5B | - | China |
| 27 | Anthropic | $18B | $8B | Amazon | United States |
| 28 | JD Digits | $18B | $5B | APOFCO, CICC | China |
| 29 | Miro | $18B | $476M | ICONIQ Growth | United States |
| 30 | Xiaohongshu | $17B | $918M | Temasek Holdings, Tencent | China |
| 31 | Yuanfudao | $17B | $4B | YF Capital | China |
| 32 | Trendyol Group | $17B | $2B | General Atlantic, SoftBank Vision Fund | Turkey |
| 33 | Yinwang Smart Technology | $16B | $3B | Seres Group | China |
| 34 | Discord | $15B | $979M | Dragoneer Investment Group | United States |
| 35 | Gopuff | $15B | $3B | Robert Iger | United States |
| 36 | Rapyd | $15B | $770M | Tal Ventures, Target Global | United Kingdom |
| 37 | Genki Forest | $15B | $721M | Temasek Holdings | China |
| 38 | CloudKitchens | $15B | $1B | Saudi Arabia's Public Investment Fund | United States |
| 39 | Bitmain | $15B | $765M | Crimson Ventures | China |
| 40 | GAC Aion New Energy Automobile | $14B | $3B | - | China |
| 41 | Anduril Industries | $14B | $4B | Founders Fund, Sands Capital Ventures | United States |
| 42 | Scale AI | $14B | $2B | Accel | United States |
| 43 | Rippling | $14B | $1B | Coatue | United States |
| 44 | Plaid | $13B | $734M | Altimeter Capital | United States |
| 45 | OpenSea | $13B | $427M | Coatue, Paradigm | United States |
| 46 | Grammarly | $13B | $400M | Baillie Gifford, BlackRock | United States |
| 47 | Devoted Health | $13B | $2B | Fearless Ventures, GIC | United States |
| 48 | Celonis | $13B | $2B | Qatar Investment Authority | Germany |
| 49 | Faire | $13B | $2B | Shopify | United States |
| 50 | Figma | $13B | $749M | Durable Capital Partners | United States |
| 51 | Brex | $12B | $1B | Greenoaks, TCV | |
| 52 | Infinite Reality | $12B | $3B | - | United States |
| 53 | PhonePe | $12B | $3B | General Atlantic | India |
| 54 | GoodLeap | $12B | $0 | - | United States |
| 55 | Biosplice Therapeutics | $12B | $778M | aMoon Fund, Eventide | United States |
| 56 | Xingsheng Youxuan | $12B | $5B | Ontario Teachers' Pension Plan | China |
| 57 | Wiz | $12B | $2B | SoftBank Vision Fund | Israel |
| 58 | Deel | $12B | $679M | Coatue | United States |
| 59 | Northvolt | $12B | $4B | Caisse de Depot et Placement du Quebec | Sweden |
| 60 | Airtable | $12B | $1B | XN | United States |
| 61 | Dunamu | $12B | $741M | IMM Investment | South Korea |
| 62 | The Access Group | $12B | $1B | Hg, TA Associates | United Kingdom |
| 63 | Notion | $10B | $343M | Coatue, Sequoia Capital | United States |
| 64 | Alchemy | $10B | $564M | Lightspeed Venture Partners, Silver Lake | United States |
| 65 | Black Banx | $10B | $382M | Gastauer Family Office | Canada |
| 66 | KuCoin | $10B | $180M | Susquehanna International Group (SIG) | Seychelles |
| 67 | Digital Currency Group | $10B | $0 | OMERS Ventures | United States |
| 68 | Ripple | $10B | $294M | Tetragon Financial Group Limited | United States |
| 69 | Zuoyebang | $10B | $3B | FountainVest Partners, Tiger Global Management | China |
| 70 | Chehaoduo | $10B | $4B | H Capital Advance, HongShan | China |
| 71 | Talkdesk | $10B | $497M | Viking Global Investors | United States |
| 72 | Thrasio | $10B | $2B | Advent International, Silver Lake | United States |
| 73 | Lalamove | $10B | $2B | Hillhouse Investment, HongShan | Hong Kong |
| 74 | Mahindra Electric Automobile | $10B | $388M | Temasek Holdings | India |
| 75 | Gusto | $10B | $746M | Friends & Family Capital | United States |
| 76 | Navan | $9B | $1B | Greenoaks | United States |
| 77 | Tata Passenger Electric Mobility | $9B | $988M | TPG Rise Climate Fund | India |
| 78 | N26 | $9B | $2B | Coatue, Third Point Ventures | Germany |
| 79 | Tanium | $9B | $775M | Salesforce Ventures | United States |
| 80 | Yanolja | $9B | $2B | SoftBank Vision Fund | South Korea |
| 81 | Perplexity | $9B | $665M | IVP, Wayra | United States |
| 82 | HeyTea | $9B | $594M | Coatue, Hillhouse Investment | China |
| 83 | VAST Data | $9B | $381M | Fidelity | United States |
| 84 | Niantic | $9B | $770M | Coatue | United States |
| 85 | Octopus Energy | $9B | $3B | CPP Investments | United Kingdom |
| 86 | EV Co | $9B | $486M | - | India |
| 87 | Ping An Healthcare Management | $9B | $1B | SBI Group, SoftBank Vision Fund | China |
| 88 | Kavak | $9B | $2B | General Catalyst | Mexico |
| 89 | Nuro | $9B | $2B | Tiger Global Management | United States |
| 90 | Personio | $8B | $724M | Greenoaks | Germany |
| 91 | Bolt | $8B | $2B | Fidelity, Sequoia Capital | Estonia |
| 92 | Tipalti | $8B | $549M | G Squared | United States |
| 93 | The CrownX | $8B | $750M | Alibaba Group, BPEA EQT | Vietnam |
| 94 | DJI | $8B | $105M | Accel | China |
| 95 | Flexport | $8B | $2B | Shopify | United States |
| 96 | Fireblocks | $8B | $1B | D1 Capital Partners, Spark Capital | United States |
| 97 | THG Ingenuity | $8B | $2B | SoftBank | United Kingdom |
| 98 | FalconX | $8B | $474M | B Capital, GIC | United States |
| 99 | StarkWare Industries | $8B | $261M | Alameda Research, Coatue | Israel |
| 100 | Dream11 | $8B | $1B | Alpha Wave Global, D1 Capital Partners | India |
| 101 | Caris Life Sciences | $8B | $1B | Sixth Street | United States |
| 102 | Hopin | $8B | $1B | Altimeter Capital, Arena Holdings | United Kingdom |
| 103 | CALB | $8B | $2B | - | China |
| 104 | AutoStore | $8B | $0 | - | Norway |
| 105 | Ramp | $8B | $1B | Founders Fund, Khosla Ventures | United States |
| 106 | Circle | $8B | $1B | Coinbase | United States |
| 107 | Leapmotor | $8B | $3B | Stellantis | China |
| 108 | Jiedaibao | $8B | $694M | - | China |
| 109 | Dapper Labs | $8B | $613M | Coatue | Canada |
| 110 | Netskope | $8B | $1B | Morgan Stanley | United States |
Data sourced from Crunchbase on Jan 10, 2025.
Top 5 Unicorn Companies in 2025
As of 2025, the global landscape of unicorn companies—privately held startups valued at $1 billion or more—continues to grow and diversify. Companies attain unicorn status driven by investor confidence in their growth potential and disruptive business models. With strategic funding rounds and a focus on innovation, scalability, and market expansion, startups can gallop into the unicorn club.
ByteDance
ByteDance became a unicorn through innovative products, strategic funding, and an engaged user base. Its ability to rapidly develop and launch successful apps, along with its use of algorithms for personalization, has positioned it as a leader in the tech industry.
ByteDance received significant funding rounds, including a $3 billion investment in 2018 led by SoftBank, which valued the company at $75 billion. By 2021, its valuation had grown to $220 billion, making it the world’s largest unicorn.
Open AI
OpenAI achieved its unicorn status through a combination of innovative technology, strategic partnerships, and significant investments. The company’s development of AI technologies(ChatGPT) captured attention from the public and investors. Partnership with Microsoft provided financial backing and enhanced OpenAI’s technological capabilities.
OpenAI’s valuation reached $157 billion after a $18 billion funding round in 2024. This rapid growth and high demand for AI solutions propelled OpenAI to unicorn status, solidifying its position as a leader in the AI industry.
Ant Group
Ant Group achieved unicorn status through rapid growth and strategic expansion in the fintech sector. Initially, Alipay was rebranded as Ant Group Services in 2014, and by 2015, Ant Group raised $4.5 billion in funding, valuing it at about $45 billion. The company continued to grow, reaching a valuation of $60 billion by early 2017.
Ant Group’s success was driven by its dominance in Alipay and its expansion into other financial services. By 2020, Ant Group was poised to conduct the largest IPO in history.
SpaceX
SpaceX achieved unicorn status through innovative technologies, strategic funding rounds, and successful business ventures. SpaceX secured key contracts with NASA for resupply missions to the International Space Station, establishing its credibility and financial stability. The development of reusable rocket technology significantly reduced launch costs, increasing efficiency.
The company expanded into new markets with its Starlink satellite constellation, providing global internet services and attracting substantial investment. Through private funding rounds, SpaceX’s valuation grew rapidly, reaching $33.3 billion by 2019 and eventually surpassing $137 billion by December 2024, making it one of the most valuable private companies globally.
Reliance Retail
Reliance Retail achieved unicorn status through a combination of strategic expansions, acquisitions, and investments. Key milestones of the company include the launch of its online fashion platform AJIO in 2016 and the introduction of JioMart in 2020, which expanded its digital presence.
In 2020, Reliance Retail raised $54.35 billion from global investors, valuing the company at $48.415 billion. The company’s valuation doubled over the next three years, reaching a pre-money valuation of $95.45 billion, by 2023. Driven by further investments and strategic partnerships, such as the acquisition of Future Group’s retail assets and partnerships with international brands like 7-Eleven and Gap.
Top 10 Companies’ Total Funding Amounts (2025)
Some of the most successful startups get funding from different sources. Funding can come from VCs, angel investors, and other investors looking to invest in promising projects. The following table shows the 10 highest total funding amounts that some companies have received:
| Sr. No | Company | Post Money Value | Total Equity Funding | Lead Investors Include | Country |
|---|---|---|---|---|---|
| 1 | Reliance Jio | $58B | $20B | India | |
| 2 | Ant Group | $150B | $19B | GIC, Temasek Holdings | China |
| 3 | OpenAI | $157B | $18B | Thrive Capital | United States |
| 4 | JUUL | $38B | $15B | Altria | United States |
| 5 | Databricks | $62B | $14B | Andreessen Horowitz, DST Global | United States |
| 6 | xAI | $50B | $12B | X (formerly Twitter) | United States |
| 7 | Waymo | $45B | $11B | Alphabet | United States |
| 8 | SpaceX | $137B | $9B | Andreessen Horowitz | United States |
| 9 | Stripe | $65B | $9B | Andreessen Horowitz, Baillie Gifford | United States |
| 10 | Cruise | $30B | $9B | General Motors | United States |
How to Become a Unicorn Company?
The evolving innovation landscape has made it more achievable to become a unicorn startup company in 2025. With the right combination of vision, determination, and strategy, today’s startups have the potential to become billion-dollar disruptors in the future. The question is—will your company be the next unicorn? Whether you’re an entrepreneur with a groundbreaking idea or an investor looking for the next big thing, the journey to unicorn status begins now. Are you prepared to make it happen?
Eqvista offers services that benefit companies of all sizes as they navigate growth and operational complexities on their path to becoming the next unicorn. We specialize in providing valuation reports, which are essential for every company seeking to attract investors or prepare for future funding rounds. Eqvista’s cap table management software automates the tracking and management of equity ownership.
Don’t wait any longer! Contact us to discover how our services can help untangle ownership structures and drive growth in today’s dynamic market environment.
