Individual InvestorsEmployee Shareholders Institutional InvestorsPrivate Companies Accredited InvestorsSeed & Angel InvestorsAsset Managers & Hedge FundsFamily OfficesVenture Capital FirmsWealth Managers & RIAsWho We Serve Trading Data Liquidity Programs Retirement Individual InvestingForge MarketplaceFind new private company investment opportunities​Browse CompaniesInstitutional TradingForge ProTrade private companies with Forge’s institutional brokerage tool​Forge PriceA proprietary indicative price, calculated daily, for approximately 200 pre-IPO companiesForge DataAnalyze private markets via Forge’s intuitive web application​Forge Private Market Index​Monitor a benchmark for actively traded private companies ​Forge Accuidity Private Market Index​Invest in an institutionally-managed diversified basket of private companies (QPs only)​Liquidity ProgramsRetain and reward employees with company-sponsored liquidity solutions like tender offers and customized programsSelf-Directed IRAForge TrustInvest in private companies and other alternative assets through a tax-advantaged Self-Directed IRAWhat We Do All insights Reports and highlights News and trends Private market education Tips and tutorials Forge Investment OutlookPrivate Market UpdatesIPO calendarPrivate Magnificent 7Emerging trendsPrivate company newsUpcoming IPOsAll guidesPrivate market basicsPrivate shares transactionsValuations, pricing and market trendsSelling in the private marketFAQsGlossaryCompany page and tradesProof of ownershipBid and ask submissionsForge fund offeringsInsights About UsLeadershipPeople & CultureCareers About
Log InSign Up
Who We Serve
What We Do
Insights
About

Q1’s Unicorns: From sleep optimization to blockchain intelligence

The first quarter of 2026 has already produced a new cohort of unicorns spanning health tech, AI infrastructure, climate intelligence, biotech manufacturing and crypto compliance.

From sleep optimization to blockchain intelligence, this latest group of companies reaching $1 billion valuations reflects a broader shift toward businesses embedding intelligence into real-world systems.

Below, we highlight five companies that achieved coveted unicorn status in Q1 2026.

Eight Sleep, an AI-powered sleep system

New York City-based Eight Sleep is first on the list, having achieved unicorn status in Q1 2026. In March, the company closed a $50 million Series D funding round, bringing its post-money valuation to $1.5 billion.1

Founded in 2014, Eight Sleep develops AI-powered sleep systems, including its flagship “Pod,” which integrates biometric sensors and temperature regulation to optimize sleep performance.2 The company noted that the latest capital raise will support expansion into clinical validation, FDA pathways, and a broader vision of proactive health monitoring, effectively transforming the bedroom into a continuous health data platform.3

Eight Sleep has also been expanding its global footprint. In 2025, the company entered the Asia market with a suite of products launched in China and Singapore, and at the time indicated potential plans for a future public listing.4

As of March 31, 2026, Eight Sleep’s Forge Price™ is $3.50, implying a valuation of $653.80 million. Notable investors include Valor Equity Partners, Y Combinator, Founders Fund and SoftBank.

Talos, a digital portfolio management platform

New York City-based Talos is next on the list, reaching unicorn status following a Series B funding round in January 2026 that valued the company at $1.5 billion.

Founded in 2018, Talos provides trading and portfolio management software for institutional investors operating in digital asset markets. Its platform connects liquidity providers, exchanges and custodians into a unified system, enabling more efficient execution and streamlined risk management.5

Since its founding, Talos has reportedly supported over $727 billion in trading volume, underscoring its growing role in institutional crypto infrastructure. The company plans to use its latest capital infusion to accelerate product development and expand its offerings across multiple digital asset classes.6

Talos’ last price per share was $50.02 as of its most recent funding round (Series B) on January 29, 2026.7 Notable investors include General Atlantic, PayPal Ventures, Fidelity and Wells Fargo.

Cellares, a healthcare company

In January 2026, healthcare company Cellares reached unicorn status after closing a $257 million Series D funding round at a $1.37 billion valuation.

Founded in 2019, Cellares is a cell therapy manufacturer focused on developing scalable solutions to accelerate treatment access for patients across a range of diseases. The company noted that its latest capital raise will support the commercial launch of its cell therapies, with the goal of expanding access to thousands of patients each year.8

Central to its platform is the Cell Shuttle, an automated system that enables end-to-end manufacturing of cell therapies. The technology was recognized as one of TIME’s Best Inventions of 2025.9

San Francisco-based Cellares reported a price per share of $11.99 as of its Series D round. Notable investors include BlackRock, Eclipse Ventures, T. Rowe Price and Bristol Myers Squibb.

Tomorrow.io, a weather intelligence firm

Boston-based Tomorrow.io reached unicorn status in February 2026 after closing a $175 million Series F funding round, bringing its post-money valuation to $1 billion.

Founded in 2015, Tomorrow.io is a weather intelligence company focused on delivering hyper-local, short-term forecasts. Its real-time solutions support decision-making across industries including aviation, logistics and government.10

The company’s differentiated approach combines proprietary data collection, such as satellite infrastructure, with AI-driven forecasting models. In January, Tomorrow.io unveiled “DeepSky,” a constellation of satellites designed to provide atmospheric data to power AI models.11

As of its most recent funding round (Series F) on February 3, 2026, Tomorrow.io’s share price was $5.45 12 Notable investors include Activate Capital, Square Peg Capital and HarbourVest.

TRM Labs, an AI-powered crypto detective

San Francisco-based TRM Labs joined the unicorn ranks in February 2026 after closing a $70 million funding round that valued the fintech company at $1 billion.

Founded in 2017, TRM Labs provides AI-powered tools that help governments, law enforcement and financial institutions detect and prevent illicit crypto activity. As digital asset adoption accelerates and regulatory scrutiny intensifies, the company is emerging as a critical infrastructure layer for financial integrity and national security.13

More recently, TRM Labs introduced Co-Case Agent™, an AI investigative assistant designed to translate natural language prompts into actionable intelligence, streamlining complex blockchain investigations.14

TRM Labs’ last price per share was $24.74 as of its latest Series C funding round, February 4,2026.15 Notable investors include Blockchain Capital, Goldman Sachs, Bessemer Venture Partners and Y Combinator.

About the Author

Chris Cannon develops lifecycle programs that engage Forge’s existing client base. Prior to joining Forge, he led audience engagement programs and newsletter operations at Investopedia, the global financial and investing media company. Chris received his MBA from East Carolina University and a BA in History from the University of North Carolina at Greensboro. Read more from Chris.

Please Read These Important Legal Notices & Disclosures

Criteria for companies to be included in the Private Magnificent 7 include a minimum implied valuation of $10B, secondary market liquidity, brand awareness, and relative price performance.

The information and material presented in this article is provided for your informational purposes only and does not constitute an offer by Forge Global, Inc., Forge Securities LLC or any of its affiliates (collectively, "Forge") to sell, or a solicitation of an offer to buy any securities and may not be used or relied upon in connection with any offer or sale of securities. An offer or solicitation can be made only through the delivery of final offering document(s) and purchase agreement and will be subject to the terms and conditions and risks delivered in such documents.

To the extent information about or defining specific terms is provided herein, Forge makes no representations as to its accuracy and has no duty to update such information. Such information is based on Forge’s experience and the meanings and connotations of terms as Forge typically uses and interprets them. Others may construe such terms differently, and you should do your own research and consult with financial, legal and tax professionals regarding any such concepts included herein.

This article does not constitute an offer to provide investment advice or service. Registered representatives of Forge Securities LLC do not (1) advise any member on the merits or prudence of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services. Securities referenced in this article may be offered by Forge Securities LLC, member FINRA/SIPC.

Forge Securities LLC is a wholly owned subsidiary of Forge Global, Inc. Certain affiliates may act as principals in such transactions. Forge Data LLC is an affiliate of Forge Global, Inc. and Forge Securities LLC.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative, involving a high degree of risk, and investors should be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and investors should conduct their own, independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or investment advice. Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment. Past performance Is not indicative of future results.

Forge Price™ is calculated and disseminated by Forge Data LLC (“Forge Data”). All rights reserved. Forge Price™ is designed to reflect the up-to-date price performance of venture-backed, late-stage companies. Forge Price™ is determined based on a proprietary model incorporating the pricing inputs from primary founding round information and secondary market transactions, including indications of interest (IOIs). Secondary market transactions are sourced from Forge Securities LLC (an affiliate of Forge Data), a leading market platform, and data collected from other private market trading platforms. The Forge Price™ is a mark of Forge Data. The Forge Price™ is solely for informational purposes and is based upon information from sources believed to be reliable, however Forge Data makes no assurance as to the accuracy or reliability of this data. Forge Data is not an investment adviser and makes no representation regarding the advisability of investing in any asset or asset class. Private company securities are highly illiquid, and the Forge Price™ may rely on a very limited number of trade and/or IOI inputs in its calculation. Brokerage products and services are offered by Forge Securities LLC, a registered broker-dealer and member FINRA/SIPC. Neither reference to company names, nor calculation of Forge Price™ for a particular company(ies) implies any affiliation between Forge or its affiliates and any company, any endorsement or sponsorship of Forge or its affiliates by any company or vice versa, or any partnership, joint venture or other commercial relationship between Forge or its affiliates and any company. Rights with respect to any company marks referred to herein are, as between Forge and its affiliates and such company, owned by the company.