November Private Market Update
| Funding Date | Share Class | Amount Raised | Price Per Share | Post-Money Valuation 3 | Key Investors | |
|---|---|---|---|---|---|---|
| 11/20/2025 | Series B | $600MM | $271.56 | $5.6B | Capitalg, Index Ventures, Jeff Bezos, Lux Capital, Thrive Capital, T. Rowe Price | |
|
Price Per Share
$271.56
Shares Outstanding
2,209,462
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capitalg, Index Ventures, Jeff Bezos, Lux Capital, Thrive Capital, T. Rowe Price
|
||||||
| 11/04/2024 | Series A | $398.65MM | $134.70 | $2.4B | Bond Capital, Jeff Bezos, Khosla Ventures, Lux Capital, OpenAI, Redpoint Ventures, Sequoia Capital, Thrive Capital | |
|
Price Per Share
$134.70
Shares Outstanding
2,959,531
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bond Capital, Jeff Bezos, Khosla Ventures, Lux Capital, OpenAI, Redpoint Ventures, Sequoia Capital, Thrive Capital
|
||||||
| 11/04/2024 | Series A-1 | $4.67MM | $35.00 | $2.4B | Bond Capital, Jeff Bezos, Khosla Ventures, Lux Capital, OpenAI, Redpoint Ventures, Sequoia Capital, Thrive Capital | |
|
Price Per Share
$35.00
Shares Outstanding
133,333
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bond Capital, Jeff Bezos, Khosla Ventures, Lux Capital, OpenAI, Redpoint Ventures, Sequoia Capital, Thrive Capital
|
||||||
| 03/12/2024 | Series Seed | $69.65MM | $34.63 | $424.99MM | Khosla Ventures, Lux Capital, OpenAI, Sequoia Capital, Thrive Capital | |
|
Price Per Share
$34.63
Shares Outstanding
2,011,030
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Khosla Ventures, Lux Capital, OpenAI, Sequoia Capital, Thrive Capital
|
||||||
| 03/12/2024 | Series FF | $21.14 | $0.00 | $424.99MM | Khosla Ventures, Lux Capital, OpenAI, Sequoia Capital, Thrive Capital | |
|
Price Per Share
$0.00
Shares Outstanding
1,056,855
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Participating
Participation Cap
1000
Key Investors
Khosla Ventures, Lux Capital, OpenAI, Sequoia Capital, Thrive Capital
|
||||||
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.
Five firms from various industries — Form Energy, Physical Intelligence, Lightmatter, Beta Technologies and Writer — ranked among the highest in fundraising for the fourth quarter of 2024.
| Trade Metrics | Last Funding Round | |||||||
|---|---|---|---|---|---|---|---|---|
| Company | Forge Price | Last Matched Price | Share Class | Post-Money Valuation 3 | Price Per Share | Amount Raised | ||
 | Anthropic | $185.90 +$13.10 (7.58%) | $xx.xx | Series F-4 | $183B | $140.97 | $779.96MM | |
 | Databricks | $187.06 +$0.05 (0.03%) | $xx.xx | Series K | $100B | $150.00 | $1.13B | |
 | Glean | $61.00 +$0.45 (0.74%) | $xx.xx | Series F | $7.2B | $49.02 | $150MM | |
 | Groq | $34.85 +$0.12 (0.35%) | $xx.xx | Series D-3 | $6.9B | $32.16 | $750MM | |
 | OpenAI | $723.12 | $xx.xx | Tender Offer 3 | $500B | $723.12 | $6.6B | |
 | Perplexity | $695.44 +$65.95 (10.48%) | $xx.xx | Series E-6 | $20.3B | $695.44 | $500MM | |
 | SambaNova Systems | $17.58 +$0.04 (0.23%) | $xx.xx | Series D-3 | $5.11B | $95.02 | $38.68MM | |
 | Scale AI | $19.64 +$1.14 (6.16%) | $xx.xx | Series G-2 | $29.18B | $19.64 | $7.15B | |
 | Thinking Machines Lab | $286.24 +$2.83 (1.00%) | $xx.xx | Series Seed | $12B | $283.41 | $1.86B | |
 | xAI | $42.11 +$2.44 (6.15%) | $xx.xx | Corporate Round | $133B | $36.56 | -- | |
Updated on: Nov 22, 2025
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