Private Markets & Unicorns
The companies without a ticker. Unicorns carry their last-raise valuations (CB Insights) and private giants an estimated value, both softer numbers than a market close.
snapshot 2026-10-31 · 1,364 unicorns · 372 private giants
The biggest unicorns
Last-raise valuations, with the industry and the metro each is run from.
| # | Company | Valuation |
|---|---|---|
| 1 | Anthropic | $965B |
| 2 | OpenAI | $840B |
| 3 | ByteDance | $480B |
| 4 | Databricks | $190B |
| 5 | Stripe | $159B |
| 6 | VAST Data | $80B |
| 7 | Revolut | $75B |
| 8 | DeepSeek | $50B |
| 9 | Moonshot AI | $50B |
| 10 | Cognition | $48B |
| 11 | Ramp | $44B |
| 12 | Ramp | $44B |
| 13 | Project Prometheus | $41B |
| 14 | Ripple | $40B |
| 15 | Figure | $39B |
| 16 | Canva | $32B |
| 17 | Fanatics | $31B |
| 18 | Crusoe | $31B |
| 19 | Safe Superintelligence | $30B |
| 20 | OKX | $25B |
Unicorn capitals
Metros by number of resident unicorns.
Where the money believes
Industries by combined unicorn valuation.
| Enterprise Tech | 502 | $3.9T |
| Financial Services | 225 | $902B |
| Media & Entertainment | 78 | $722B |
| Industrials | 206 | $669B |
| Consumer & Retail | 204 | $606B |
| Healthcare & Life Sciences | 124 | $321B |
| Insurance | 22 | $45B |
| Industrial | 1 | $21B |
| West Palm Beach | 1 | $4B |
| Health | 1 | $1B |
The newest members
Most recent arrivals at a $1B valuation.
| Element Labs | $4B | 2026-06-29 |
| xsquare | $3B | 2026-06-29 |
| Assort Health | $1B | 2026-06-24 |
| FINN | $1B | 2026-06-24 |
| Redo | $1B | 2026-06-23 |
| Nearfield Instruments | $2B | 2026-06-22 |
| LiblibAI | $2B | 2026-06-18 |
| CtrlS | $5B | 2026-06-17 |
| Odyssey | $1B | 2026-06-17 |
| DeepSeek | $50B | 2026-06-16 |
The graduates
Unicorns that reached the public markets - last private valuation against what the market says now.
| Company | Last private | Public now |
|---|---|---|
| Firefly Aerospace | $2B | $3B |
| Ionic Digital | $2B | $3B |
| Mercor | $10B | $32M |
Most-cited early investors
Andreessen Horowitz (80) · Accel (74) · Sequoia Capital (64) · General Catalyst (51) · Tiger Global Management (48) · Lightspeed Venture Partners (46) · Insight Partners (46) · Sequoia Capital China (39) · Bessemer Venture Partners (37) · Index Ventures (36) · Khosla Ventures (32) · Google Ventures (30)
The private giants
The biggest companies that never listed: family firms, trading houses, state-adjacent groups.
Why these are estimates
| # | Company | Est. value |
|---|---|---|
| 1 | Vitol | $1.2T |
| 2 | Trafigura Group | $733B |
| 3 | Schwarz Group | $542B |
| 4 | Cargill | $462B |
| 5 | Koch Industries | $375B |
| 6 | Aldi | $363B |
| 7 | E.Leclerc | $309B |
| 8 | Suning Holdings Group | $309B |
| 9 | REWE Group | $299B |
| 10 | Huawei | $297B |
| 11 | Robert Bosch | $297B |
| 12 | Amer International Group | $267B |
| 13 | HNA Group | $266B |
| 14 | State Farm | $247B |
| 15 | Hengli Group | $242B |
| 16 | Pacific Construction Group | $231B |
| 17 | Nippon Life Insurance | $222B |
| 18 | Deloitte | $202B |
| 19 | Ineos | $195B |
| 20 | Publix Super Markets | $179B |
| 21 | CMA CGM | $168B |
| 22 | PwC | $166B |
| 23 | Mars | $165B |
| 24 | Auchan Holding | $164B |
| 25 | Ernst & Young | $154B |