Unicorn watch: seven new US startups worth over $1bn in November
Unicorn companies are privately held startups with a market valuation of US$1bn. According to CB Insights, there are more than 260 unicorn companies in the world, with 85 companies achieving unicorn status in 2018, eight of which were in November. With the exception of $4bn Chinese unicorn Horizon Robotics, all the new unicorns in November are from the US.
Business Chief takes a look at the new members of one of the world’s most-exclusive groups. According to Business Insider, “in the U.S. alone, there are currently 19,550 venture-backed startups vying for those same massive valuations. At the same time, it's been estimated that each new startup only has a 0.00006% chance of becoming a billion dollar company.”
Asana - 11/29/2018
Started by Facebook co founder Dustin Moskovitz in 2008, Asana is a work management software company that reached a valuation of $1.5bn in 2018 after a decade-long struggle to take off. "It's really nice to cross over that concrete mark," Moskovitz told Business Insider this month. “But ultimately it's just a milestone on the way to something much bigger. The market opportunity in front of us is gigantic. We're still just getting started."
Airtable - 11/15/2018
Valued at $1.1bn, Airtable is a software company that turns “what seems like just a normal spreadsheet into a robust database tool, hiding the complexity of what's happening in the background while those without any programming experience create intricate systems to get their work done.” The company is based in San Francisco and has over 30 investors, including Caffeinated Capital, CRV and Founder Collective.
Service Titan - 11/14/2018
Based in Glendale, California, ServiceTitan uses a “mobile, cloud-based software platform that helps home service companies streamline operations, improve customer service, and grow their business. ServiceTitan's end-to-end solution for the multi-billion-dollar residential home services industry includes CRM, intelligent dispatch, comprehensive reporting, marketing management tools, mobile solution for field techs, and QuickBooks integration.” The company was valued at $1bn this month and its principal investors include: Bessemer Venture Partners, ICONIQ Capital and Battery Ventures.
Sweetgreen - 11/13/2018
Sweetgreen is a fast-casual restaurant chain based in Washington DC. Founded in 2007, the startup achieved unicorn status this month with a valuation of $1bn. Its principal investors include Red Sea Ventures, Fidelity Investments and Revolution.
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Netskope - 11/13/2018
Cloud access cybersecurity startup Netskope provides “discovery, deep visibility, and granular control of sanctioned and unsanctioned cloud apps” through its Netskope Active platform, allowing IT departments to “protect sensitive data, and ensure compliance in real-time, on any device, including native apps on mobile devices and whether on-premises or remote, and with the broadest range of deployment options in the market”. The company is valued at $1bn and its principal investors include Lightspeed Venture Partners, Social Capital and Accel.
TripActions - 11/8/2018
Headquartered in Palo Alto, California, TripActions is a business-oriented travel management service that “offers an end-to-end solution that combines booking technology, an inventory of travel options and a 24/7 customer support infrastructure.” The startup is valued at $1bn and its principal investors include Andreessen Horowitz, Lightspeed Venture Partners and Zeev Ventures.
Zume Pizza - 11/1/2018
Operating an on-demand automated pizza delivery service in Mountain View, California, Zume Pizza provides “an end-to-end, scalable platform that reduces the time and distance between clean food sources and dense population centers, using automation and transportation logistics.” Valued at $2.25bn, Zume Pizza is the most-valuable company to achieve unicorn status in November. Its principal investors include Japanese banking organization, Softbank Group, as well as AME Cloud Ventures and SignalFire.