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UL Solutions

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Applied safety science for product testing and certification.

Northbrook, United StatesFounded 1894Cybersecurity
Valuation $13B Market cap · 2026
Revenue $3.21B Latest reported FY
EBITDA $744M Latest reported FY

About UL Solutions

If you’ve ever looked at the back of an appliance and seen a small, circular "UL" logo, you've seen the mark of a company that has been quietly shaping our world for over a century. UL Solutions is a global leader in applied safety science, the company that tests, inspects, and certifies everything from consumer electronics to new mobility solutions to ensure they are safe, secure, and sustainable. It’s a mission born from one of the most exciting, and dangerous, moments in modern history. The story starts in 1893 at the Chicago World's Fair. The event was a dazzling showcase of electricity, but with it came a massive fire risk. An MIT-trained engineer named William Henry Merrill, Jr. was sent by fire underwriters to investigate. What he discovered was a chaotic landscape of unproven electrical components. Merrill saw the urgent need for a scientific, standardized approach to safety. A year later, in 1894, he founded the Underwriters' Electrical Bureau, the entity that would evolve into UL Solutions. The organization officially incorporated as Underwriters Laboratories in 1901. It introduced its first standard for tin-clad fire doors in 1903 and began its label service in 1906, placing the now-iconic UL Mark on products that passed its rigorous tests. For decades, UL operated as a nonprofit, expanding from fire and electrical safety into new fields like cybersecurity, autonomous vehicles, and sustainable energy. A major turning point came in 2022 when the parent organization restructured, creating UL Solutions as a distinct, for-profit business alongside two nonprofit entities. This set the stage for its Initial Public Offering in April 2024, when UL Solutions began trading on the New York Stock Exchange under the ticker "ULS." Today, UL Solutions continues its mission of "working for a safer world," helping companies navigate complex global supply chains and innovate with confidence, from advancing 5G to enabling a new era of AI-powered products.

Source: Dealroom company data

At a glance

Status
Listed
Founded
1894
Headquarters
Northbrook, United States
Listing
IPO 2024
Employees
13,635
Open positions
None listed
Dealroom signal
28.3/100
Industry
Security, Energy
Sub-industry
Clean Energy, Oil & Gas
Sector
Cybersecurity, Testing, Horizon Europe
Business model
Manufacturing, Marketplace & ecommerce, SaaS
Client focus
b2b
Investment activity
7 companies, latest Jul 2024
Capital deployed
$4.2M
Preferred round
ACQUISITION

Funding history

6 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
POST IPO DEBT✓Debt Oct 2025 $1B — Bank of America ↗
SECONDARY✓Other financing Sep 2024 $0 — Undisclosed ↗
Showing the latest 2 of 6 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthEBITDAMarginProfitMargin
2026 $3.2B +5.1% $744M 23.2% $325M 10.1%
2025 $3.1B +6.4% $744M 24.4% $325M 10.6%
2024 $2.9B +7.2% $629M 21.9% $326M 11.4%
2023 $2.7B +6.3% $567M 21.2%
2022 $2.5B +0.1% $542M 21.5%
2021 $2.5B — $430M 17.1%
Company filings, research estimates and Dealroom dataBook a demo for the full financial model →

Growth signals

UL Solutions website traffic

Latest recorded traffic for UL Solutions is 1.1M monthly website visits, down 21.4% over the last three months. UL Solutions's team grew 0% over the past year.

Latest monthly visits1.1M 3-month web change-21.4% 1-year team growth0%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investors

2 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later2 investors entered at this stage

  • Gallant Capital Partners
  • Bank of America
Team profiled 6 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators Hidden — book a demo quality score
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
🇺🇸 United States · Northbrook HQ
Book a demo for the full country breakdown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about UL Solutions on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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