Internal valuations for many unicorn companies have fallen in the past two years as public company stock prices have also declined. However, most of those valuation declines are not yet reflected on the unicorn board, as the valuations here are those disclosed during an announced funding round, and many companies on the board have delayed raising additional capital during a down market.
As of April 2023, only about half of the more than 1,400 unicorn companies on this list had raised funding since the beginning of 2022.
Around 40% of these unicorn companies raised funding in 2020 and 2021. It’s likely that many of those companies will return to raise funding from the private markets soon, since startups typically need to raise funding every 18 months to two years. When they do, expect many of these highly valued unicorns to see their valuations reset at much lower valuations.