Startup Trends: 5 companies make list of newly minted Unicorns for Q4 2024
In the fourth quarter of 2024, at least five private companies achieved “Unicorn status” by passing a billion dollars in value. This year, 56 U.S. companies reached Unicorn status, according to TechCrunch. The 2024 Unicorns include many AI startups, cybersecurity, health tech and fintech firms.
Here’s the latest list of companies listed on Forge Global that have achieved the rank of Unicorn.
Halcyon, a cybersecurity company
Halcyon helps companies prevent and recover from ransomware attacks. In November 2024, the company announced it raised $100 million in Series C funding, bringing its total value to $1 billion. The funding was led by Evolution Equity Partners, with participation by Bain Capital Ventures, SYN Ventures, Harmony Group, Corner Capital Management, Dropbox Ventures, ServiceNow Ventures and existing investors.
According to the Austin, Texas-based company, ransomware victims paid more than $1 billion in 2023 to regain access to their data and assets. Halcyon says its ransomware prevention engine constantly examines enterprise endpoints for ransomware attack precursors to stop them in real-time and intercepts encryption keys generated during an attack to protect the broader organization.
According to Forge Global, Halcyon’s share price is $0.59 based on its last funding round in November 2024.
Writer, a developer of AI for enterprises
Writer, which offers a full-stack generative AI platform for enterprises, announced in November 2024 that it raised $200 million in Series C funding, giving it a valuation of $1.9 billion. The funding round was co-led by Premji Invest, Radical Ventures, and existing investor ICONIQ Growth, with participation from Adobe Ventures, B Capital, Citi Ventures, IBM Ventures, Salesforce Ventures and Workday Ventures.
San Francisco-based Writer helps corporations embed AI into workflows to achieve efficiency and scale. Writer’s customers include Ally Bank, Franklin Templeton, Kenvue, Lennar, Prudential, Qualcomm, Salesforce and Uber. The company will use the new funding to expand its offerings of quick-start AI applications for time-intensive workflows in healthcare, retail and financial services.
According to Forge Global, Writer’s share price is $52.03 based on its last funding round in November 2024.
Flex, a rent payment fintech
Flex, developer of a rent payment portal for renters and landlords, raised a $200 million Series D round in November, valuing it at $1.75 billion, TechCrunch reported, citing Pitchbook data.
Renters can pay Flex a monthly fee for options including paying rent in installments or using their rent payments to improve their credit scores. For landlords, Flex’s offerings help ensure they receive full rent payments on time, improving resident retention and freeing staff time from chasing late payments. The New York-based company has processed over $8 billion in rent payments and partners with property managers overseeing more than 6 million rental units.
Flex’s Forge Price™ is $7 as of December 18, 2024, giving it an implied valuation of $617.22 million, a 65% discount from its last funding round in November.
EvenUP, a legal technology company
EvenUP, a technology firm for personal injury lawyers, announced in October 2024 it raised $135 million in Series D financing, bringing its valuation to over $1 billion. Bain Capital Ventures led the round, which also included Premji Invest, Lightspeed Venture Partners, Bessemer Venture Partners, SignalFire, and B Capital Group.
San Francisco-based EvenUP uses machine learning and AI to reduce effort and maximize case outcomes for personal injury law firms.
More than 1,000 law firms use EvenUp systems, which have helped those firms claim over $1.5 billion in damages, according to the company. Their tools help with case preparation, including finding missing documents, reviewing records, and preparing for negotiations.
According to Forge Global, EvenUP’s price per share is $21.51 and puts its valuation at $1.03 billion, based on the October funding.
Physical Intelligence, an AI company
Physical Intelligence, a company that is bringing AI into the physical world, raised $400 million from investors including Amazon founder Jeff Bezos, along with Thrive Capital, Lux Capital, OpenAI, Redpoint Ventures and Bond, The New York Times reported in November 2024. The funding values the company at $2 billion, according to the article.
The San Francisco-based company is working to develop artificial physical intelligence, so that users can ask robots to perform any physical task they want, similar to making requests of large language models and chatbot assistants.
Physical Intelligence’s price per share is $134.70, based on its last funding round in November 2024.
