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Unicorns & thoroughbreds

The companies that prove the power law

From the funded-startup funnel down to the unicorns, decacorns and gigacorns that anchor the global outcome universe. Filter by sector, region, revenue milestone or valuation tier — and open selected company profiles.

Dealroom tracks 3,621 unicorns ($1–10B), 362 decacorns ($10–100B), 31 centicorns ($100B+) and 7 gigacorns ($1T+) — plus 2,962 thoroughbreds with $100M+ annual revenue. 165 companies became unicorns since May 2026.

Mach Industries$3.7B · Sep 2026Fab2$3.7B · Sep 2026AfterQuery$3.2B · Sep 2026Z.ai | Zhipu AI$1B rev · 2026Gimlet Labs$3B · Sep 2026David$2.2B · Sep 2026The Exploration Company$1.8B · Sep 2026Polymarket$1B rev · 2026Lyte$1.6B · Sep 2026Micronano Core$1.1B · Sep 2026Guardio$1.1B · Sep 2026Cognition | Devin AI$900M rev · 2026Encoded Therapeutics, Inc.$1.1B · Sep 2026TAR$1B · Sep 2026Thrive Holdings$12B · Aug 2026MiniMax AI$800M rev · 2026Lancium$10B · Aug 2026Lumilens$5.5B · Aug 2026Source Foundry$5B · Aug 2026Cloover$350M rev · 2026River AI$4.4B · Aug 2026Sharpa$3B · Aug 2026Sunrise$2.8B · Aug 2026Modal$300M rev · 2026Instinct$2.5B · Aug 2026Neros$2.5B · Aug 2026Volta$2.4B · Aug 2026Domyn$220M rev · 2026DEEP X$2.2B · Aug 2026Wispr Flow$2B · Aug 2026Horizon 3 AI$2B · Aug 2026Runway$200M rev · 2026Shadowfax Technologies$1.9B · Aug 2026Mariana Minerals$1.5B · Aug 2026CodeRabbit$1.5B · Aug 2026Genspark$200M rev · 2026Shanghai Fangqing Technology$1.5B · Aug 2026Muon Space$1.5B · Aug 2026HubX$1.3B · Aug 2026Koho$183M rev · 2026HappyRobot$1.2B · Aug 2026Moss$1.1B · Aug 2026Obsidian Security$1.1B · Aug 2026Proton$183M rev · 2026Emerald AI$1.1B · Aug 2026Resulticks$1.1B · Aug 2026Gravis Robotics$1B · Aug 2026InSilico Medicine$177M rev · 2026Rillet$1B · Aug 2026Fasset$1B · Aug 2026HKC$20.8B · Jul 2026Coralogix$175M rev · 2026Crypto.com$20B · Jul 2026Atoms$6.8B · Jul 2026Oxylabs$3.6B · Jul 2026Waterdrop$165M rev · 2026Xsight Labs$2.8B · Jul 2026Proxima Fusion$2.6B · Jul 2026Antora Energy$2.5B · Jul 2026Legora$150M rev · 2026Ligachem Bio$2.4B · Jul 2026LimX Dynamics$2.2B · Jul 2026Simile$2B · Jul 2026Eightfold$150M rev · 2026Cover Genius$1.9B · Jul 2026Standard Nuclear$1.8B · Jul 2026Vi$1.6B · Jul 2026Amprius$141M rev · 2026Ominimo$1.5B · Jul 2026Rokae$1.5B · Jul 2026Oratomic$1.5B · Jul 2026SiFive$135M rev · 2026Emergent Labs$1.5B · Jul 2026Meshy$1.5B · Jul 2026Forte Biosciences$1.4B · Jul 2026ARS Pharmaceuticals$132M rev · 2026Cathedral$1.4B · Jul 2026Astrodyne TDI$1.4B · Jul 2026Humanoid$1.4B · Jul 2026River$132M rev · 2026InoBat$1.3B · Jul 2026Glow$1.2B · Jul 2026Norm AI$1.2B · Jul 2026LatchBio$130M rev · 2026Flex$1.2B · Jul 2026Sharon AI$1.2B · Jul 2026Genius AI$1.1B · Jul 2026Satispay$128M rev · 2026Walden Robotics$1.1B · Jul 2026Myricx Bio$1.1B · Jul 2026Ambiq$1.1B · Jul 2026Amperity$125M rev · 2026Moneybox$1.1B · Jul 2026HiDream.ai | Beijing Zhixiang Future Technology$1.1B · Jul 2026Alebund Pharmaceuticals$1.1B · Jul 2026Joby Aviation$121M rev · 2026Moqi Intelligent Technology$1B · Jul 2026Augustus$1B · Jul 2026Kraken Technology$1B · Jul 2026Etched$120M rev · 2026Even Realities$1B · Jul 2026Venice.ai$1B · Jul 2026Oasis Security$1B · Jul 2026Zip$120M rev · 2026Eliyan$1B · Jul 2026Fora$1B · Jul 2026Spectro Cloud$1B · Jul 2026ICON Technology$120M rev · 2026Multiverse Computing$501M · Jul 2026Lingyi iTECH$14B · Jun 2026Neura Robotics$7B · Jun 2026Productboard$120M rev · 2026IPE Universal$3.6B · Jun 2026Ionic Digital$3B · Jun 2026EigenQ$3B · Jun 2026Snorkel AI$120M rev · 2026Generalist AI$3B · Jun 2026X Square$2.8B · Jun 2026CuspAI$2.6B · Jun 2026Enable$120M rev · 2026Flourish$2.5B · Jun 2026PhysicsX$2.4B · Jun 2026General Intuition$2.3B · Jun 2026RapidSOS$120M rev · 2026Allen Control Systems$2.2B · Jun 2026LibLib$2B · Jun 2026Morpho$2B · Jun 2026Cyberhaven$120M rev · 2026Vast | Tripo AI$1.6B · Jun 2026Whop$1.6B · Jun 2026Nearfield Instruments$1.6B · Jun 2026Mark43$120M rev · 2026TensorWave$1.6B · Jun 2026Sarvam AI$1.5B · Jun 2026D-Fend Solutions$1.5B · Jun 2026Xvivo perfusion$120M rev · 2026Odyssey$1.4B · Jun 2026AGILINK$1.4B · Jun 2026Securitize$1.3B · Jun 2026Envoy$115M rev · 2026Epos Now$1.3B · Jun 2026Factorial Energy$1.3B · Jun 2026Twenty$1.2B · Jun 2026SeekOut$115M rev · 2026Assort Health$1.2B · Jun 2026Quantum Space$1.2B · Jun 2026Riverpoint Medical$1.2B · Jun 2026Genfit$110M rev · 2026Openpayd$1.1B · Jun 2026SiliconFlow$1.1B · Jun 2026FINN$1.1B · Jun 2026Hippocratic AI$110M rev · 2026Nesto$1.1B · Jun 2026Robseek Intelligence$1B · Jun 2026Mirendil$1B · Jun 2026Spotter$110M rev · 2026Collate$1B · Jun 2026Firefly Bio$1B · Jun 2026RunPod$1B · Jun 2026Pilot$110M rev · 2026Standard Bots$1B · Jun 2026Elroy Air$1B · Jun 2026Pupu$400M · Jun 2026Astronomer$110M rev · 2026ERockJun 2026VoltaGrid$10B · May 2026OpenRouter$7.5B · May 2026Solace$110M rev · 2026Hark$6B · May 2026ADATA Technology$4.8B · May 2026Recursive Superintelligence$4.7B · May 2026Mesh Connect$110M rev · 2026Mirus$4.4B · May 2026Corgi$4B · May 2026Terra Quantum$3.5B · May 2026Mashgin$105M rev · 2026Forus$3B · May 2026USA Rare Earth$2.4B · May 2026Armada$2.2B · May 2026Stream$101M rev · 2026Exa$2.2B · May 2026Pragmatik Labs$2B · May 2026Cowboy Space Corporation$2B · May 2026Pliant$100M rev · 2026Empower Semiconductor$1.5B · May 2026Septerna$1.4B · May 2026Blitzy$1.4B · May 2026Payhawk$100M rev · 2026Nord Quantique$1.4B · May 2026TJ Robotics$1.4B · May 2026Viewtrix Technology$1.3B · May 2026Skild$100M rev · 2026Oishii$1.2B · May 2026Kela Technologies$1.2B · May 2026Enter$1.2B · May 2026Apptronik$100M rev · 2026LDRobot$1.2B · May 2026Prior Labs$1.1B · May 2026CMBlu Energy$1.1B · May 2026Hightouch | Carry Technologies$100M rev · 2026Core Automation$1B · May 2026Amca$1B · May 2026Panthalassa$1B · May 2026Owner$100M rev · 2026Socket$1B · May 2026SendCutSend$1B · May 2026Focused Energy$1B · May 2026Inari$100M rev · 2026Nyobolt$1B · May 2026Modretro$1B · May 2026Farther$1B · May 2026Roofstock$100M rev · 2026RADAR$1B · May 2026Tomorrow.io$1B · May 2026Fresha$1B · May 2026Writer$100M rev · 2026Vishay Precision Group$786M · May 2026TOPNC$748M · May 2026Skyroot Aerospace$7M · May 2026Ultima Genomics$100M rev · 2026Arena$100M rev · 2026Cresta$100M rev · 2026ShopMy$100M rev · 2026Public$100M rev · 2026Offchain Labs$100M rev · 2026TruMid$100M rev · 2026Quizlet$100M rev · 2026Reserv$100M rev · 2026Savvy Wealth$100M rev · 2026SemiAnalysis$100M rev · 2026turbopuffer$100M rev · 2026
01 · Startup funnel

From funded cohort to gigacorn

The full global funnel — every sector, every region — narrowing through each round and outcome tier, Pre-Seed at the wide end, gigacorns at the tip. Pick a sector or region to zoom in. Source: Dealroom Power Law funnel sheet.

Pre-Seed
66.6K
Seed
54K
Series A
42.8K
Series B
21.7K
Series C
12K
Unicorn
3,621
Decacorn
362

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Fetching sector data.

— Pool of Funded Startups
$100K+ total funding
03 · Unicorn timeline

When & where unicorns are minted

Every company that ever reached a verified $1B+ valuation or exit, timed by the year it became a unicorn. Compare countries, cities or whole regions — as a cumulative stock or new unicorns per year — then copy a link that reproduces the exact view.

Unicorns minted over time

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Quick picks
Comparing
Tier
Mode
Location
Years –
Source: Dealroom.co. Unicorn = a verified $1B+ valuation or exit, ever — exited and since-deflated unicorns stay counted. Decacorn = ever worth $10B+, dated by the first year the company's priced valuation history crosses $10B. Unicorns minted before 2005 (or with an unknown year) sit in the cumulative baseline. “HQ or founding” credits relocated companies to both places. Bay Area and New Palo Alto follow Dealroom’s city-region definitions. The current year is year-to-date.

Europe's decacorns, by the year each crossed $10B

Opens on the 53 European companies worth $10B+ today, stacked by country of HQ or founding — 56 counting the three that count in both. Switch the metric, the grouping or the location basis below, or see them all on the Europe decacorns map.
04 · Head to head

Compare any two ecosystems. Or three.

Line up countries against cities, whole sectors against single hubs, or combinations — New York fintech vs London fintech. Unicorns minted over time, plus efficiency ratios like unicorns per $B of VC and per million people.

Ecosystem head-to-head

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Tier
Display
Location
Years
—
Source: Dealroom.co. Unicorn = a verified $1B+ valuation or exit, ever — exited and since-deflated unicorns stay counted. Sector is Dealroom's simplified classification of each company's taxonomy tags; cross-cutting taxonomy filters such as Deep Tech use the closest available outcome buckets here, while "Per $B of VC" uses the matching live VC tag scope. Per-capita rows use metro-area population for cities. The current year is year-to-date.
05 · Sector overview

Unicorns & thoroughbreds by sector

A sector breakdown of the Power Law universe. Use the four filters below the table to scope by region, ownership, VC backing or exit status — counts update inline.

Unicorns & thoroughbreds by sector

A sector overview table calculated from the underlying Power Law company sheet. Counts are inclusive: a company can appear in revenue and valuation columns when it qualifies for both. Valuation columns bucket each company by the highest tier it ever reached, VC-backed is the default lens, and every count covers companies founded since 1990. The four filters below scope the sector counts but don't affect the market map further down.

Region
Ownership
VC backing
Exit status
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06 · Unicorn valuations

Where unicorns are biggest

The typical latest valuation of $1B+ companies, broken out two ways — by sector × region, and by host city. Toggle between the median, top quartile and top decile to see where the heavy-tail outcomes cluster.

a · Sectors

Median unicorn valuation by sector & region

Latest valuation across $1B+ companies in each sector, split by region. Cell shade scales with the column maximum so you can scan which regions punch above their weight.

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b · Locations

Top unicorn cities — count vs. median valuation

Each dot is a city in the top 25 by unicorn count. Horizontal axis: number of unicorns. Vertical axis: median latest valuation. Colour groups by region — so you can see where the heavy-tail outcomes cluster.

07 · EV constellation

Private unicorns & thoroughbreds are worth $10T+

Every unicorn and $100M+ revenue thoroughbred plotted as a bubble, sized by latest valuation and grouped by region. Click any region bubble to split it into sub-regions, or switch the ownership toggle to public companies or both.

08 · Market map

Power Law company market map

Every sector sized by its share of the matching outcomes, each block split into its largest subcategories. Covers companies founded since 1990; tiers reflect the highest valuation a company ever reached. Only selected companies are named on this public page; the +N chips count the outcomes behind them, which full Dealroom access opens up.

Tier
Region
VC backing
Group by
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Selected company profiles

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Outcome definition

Revenue outcomes ($100M+ thoroughbreds) and valuation outcomes (unicorn tiers) are separate. A company can be both — Revolut is a thoroughbred and a centicorn. Valuation tiers bucket each company by the highest valuation it ever reached.

Unicorn timeline

The timeline chart counts companies with a verified $1B+ valuation or exit by the year they became unicorns, straight from Dealroom's live unicorn flag. The "HQ or founding" lens credits relocated companies to both places.

Revenue milestones

Thoroughbreds have $100M+ annual revenue. All counts cover companies founded since 1990, so a 19th-century conglomerate that later crossed a threshold stays out.

Public preview

Counts come from the Dealroom Power Law outcome sheet. The public page intentionally names only selected examples.

Need the complete outcome universe?

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