Startup Trends: 5 potential “soonicorns”

A private company is considered a “Unicorn” when it surpasses one billion dollars in value. In 2024, 56 U.S. companies reached Unicorn status, according to TechCrunch, down from 86 in 2023. Many of these firms are in AI, cybersecurity, and health tech.

While there is no guarantee of what future valuations will be for a private company in the future, here are five companies listed on Forge Global that could potentially achieve Unicorn status in 2025. Dubbed “Soonicorns,” these companies have achieved past or current valuations of $600 million or more, but as of today are below the $1 billion threshold to be considered a unicorn company.

Cresta, an AI platform for contact centers

Cresta is an end-to-end AI generative platform for company contact centers. According to Cresta, firms are under pressure to drive down call center costs while improving customer loyalty and revenue. Cresta’s platform for human and AI agents lets clients uncover real-time insights and best practices from human agents and automate mundane tasks with virtual agents.

In the past two years, Cresta has nearly quadrupled its annual recurring revenue and doubled its customer base. Current clients include Brinks Home, CarMax, and Intuit. The Palo Alto, California-based company was founded in 2017. 

The company announced in November 2024 that it closed $125 million in Series D financing, led by new investors World Innovation Lab and QIA and with participation from existing investors Accenture, Andreessen Horowitz, and Greylock Partners.

Cresta’s Forge Price™ is $4.51 as of February 11, 2025, which implies a valuation of $750.8 million, unchanged from its last funding round in November 2024.

Gecko Robotics, an AI and robotics firm

Gecko Robotics is a firm that leverages AI and robotics to help organizations build, operate, and maintain infrastructure. The company uses robots that can climb, crawl, swim, and fly to collect information on equipment used in defense, oil and gas, steel, mining, and other industries. Data that the robots gather is then combined with AI insights to provide a “single source of truth” on the equipment’s condition for clients. 

In 2024, the company announced an expansion of its work with the U.S. Navy, helping to maintain surface ships, aircraft carriers, and nuclear-powered submarines. Investors in Gecko Robotics include the US Innovative Technology Fund, XN, and Founders Fund. Gecko was founded in 2013 and is based in Pittsburgh, Pennsylvania.

Gecko Robotics’ Forge Price™ is $30.63 as of February 11, 2025, which implies a valuation of $613.6 million, a 3% discount to its last funding round in December 2023. 

Cybereason, a cybersecurity company

Cybereason is a cybersecurity firm that provides software and consulting services to prevent and analyze online attacks. 

The company provides firms with detailed insights into any cyberattack, telling the full story of the attack from cause to impacted users and devices. According to Cybereason, that approach significantly reduces investigation and remediation periods. The San Diego, California-based company was founded in 2012. Investors include Charles River Ventures, Lockheed Martin Ventures, Neuberger Berman, and SoftBank Corp. 

In November 2024, the company announced a merger with Trustwave, a cybersecurity and managed security services provider. The two firms will operate independently but collaborate on value-added services and capabilities, helping clients stay ahead of emerging risks and optimize technology investments. 

Cybereason’s Forge Price™ is $0.58 as of February 11, 2025, which implies a valuation of $733.3 million, a 26% premium to its last funding round of $581.7 million in April 2023. 

RapidAI, a healthcare AI company 

RapidAI is a company that uses AI to perform brain imaging analysis, aiming to help improve patient care for strokes, aneurysms, and pulmonary embolisms. Through the Rapid Enterprise Platform, physicians can make faster decisions around critical care to help improve patient outcomes. The company’s tools have been used in 14 million scans in more than 2,200 hospitals in 100 countries. 

RapidAI is based in San Mateo, California, and was founded in 2012. The company’s leadership includes neurologists, radiologists, and technologists. Investors in RapidAI include Cullom Capital, Lennertz & Co., Listwin Ventures, and Vista Credit Partners.

RapidAI’s Forge Price™ is $35 as of January 31, 2025, which implies a valuation of $421.4 million, a 37% discount to its last funding round in July 2023. Its post-money valuation in July 2023 stood at $667.5 million putting it into “Soonicorn” status at the time.

Alto Pharmacy, a digital pharmacy

Alto Pharmacy is an online pharmacy that delivers medicine to customers’ homes. The company provides same-day delivery in 12 major metro areas and home delivery of fertility medications in all 50 states. Since its founding in 2015, San Francisco, California-based Alto has filled 7.5 million prescriptions. According to Alto, four in ten prescriptions on its platform can be scheduled for delivery within two minutes.

In October 2024, the company launched Alto Technologies, a suite of pharmacy technologies combining pharmacist expertise with automation and AI to drive efficiencies in providing prescription drugs. The company says automating traditional manual pharmacy processes will improve medication access, convenience, and cost. In August 2024, Alto said it would partner with Pfizer to provide pharmacy services as part of its new PfizerforAll digital platform. The company’s investors include 10x Capital, DST Global, Greenoaks Capital, and Softbank Vision Fund. 

Alto Pharmacy’s Forge Price™ is $6.22 as of January 31, 2025, which implies a valuation of $292.7 million, a 63% discount to its last funding round in September 2023. Its post-money valuation in 2023 stood as high as $799.9 million, clearly at “Soonicorn” status.