Collectively, US unicorns are worth approximately $372B. Combined, these companies have raised just over $67B.

The United States is home to 98 unicorn companies that are each valued at $1B+. As of 12/19/2016, nine private US companies are worth over $10B. The three most valuable unicorns in the US are Uber ($68B), Airbnb ($30B), and Palantir Technologies ($20B), and all of them are located in California, the state with by far-and-away the most unicorns. Ten other US states are also home to at least one company worth $1B+. Rounding out the top three are New York and Massachusetts.

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Using the CB Insights database and our real-time global unicorn tracker we visualized the locations of every US-based unicorn in the map below.

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USA of Unicorns body image 3

Key insights about the companies in this map:

  • Collectively, US unicorns are worth approximately $372B.
  • Combined, these companies have raised just over $67B.
  • After California, New York, and Massachusetts, Illinois ranks fourth and Utah and Florida tie for fifth in terms of number of unicorns.
  • The top five most well-funded US unicorns are: Uber ($12.5B raised), Airbnb ($3.9B), Infor ($2.6B), Snap ($2.6B), and Palantir Technologies ($1.9B). Infor is the only unicorn out of the top 5 based outside California; it is located in New York.
  • The oldest unicorn in the US is the greentech company Bloom Energy, which reached a valuation above $1B in 2009.
  • The newest unicorn in the US is the travel tech company JetSmarter, which became a unicorn in December 2016.
  • The three most active investors in US-based unicorns, by total number of deals to these companies, are the VC firms Sequoia Capital, Andreessen Horowitz, and Khosla Ventures.

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  • stanfordcrane

    The geographical reason for my Plan 182.

  • stanfordcrane

    Snap did $59M after raising $2.6B? I can do $200M on $50M in less than 9 months.

  • Amiddlepath?

    All this is funny money valuations until we see corporate revenue numbers, which is conveniently confidential at this point. That said,word on the street is most of these Unicorns are far from profitable…

  • Justin Fyles

    I want to see this exact same map in 5 years, with every company that no longer exists crossed out.

  • Doug

    How many make money? Assuming you are regarding to IOT based companies needing capital as all companies actually don’t need second raises or finds to push their investments higher. A fool and his money is soon parted, Uber has paved the way for a more profitable organization to take back as most these companies, top line is 3.7Bn in SALES but losses well over 2.2Bn this year alone, what does it take for an App to make money? Uber didn’t even structure the 50 states in America or probably 1/3rd by the time their Executives think they could take on the world paving the way for non debt ridden companties, I cannot value a company that if fails, never can recover as other are out their like Postmaster, Curb combining Cable companies backed by a OEM Fleet, financials for cheaper access to capital. The private companies making these 3rd-6th rounder supporting there real positions with blind followers almost on a ego basis.

    Real economics do not apply to a majority of these companies, while innovative most miss one thing, real management, self restrained operations following a profit model 1st and formost.

    I’m an avid user of Uber but Lyft is earning clients with lessor capabilities but by Uber’s usability to manage, value it’s drivers, etc. as example but hard for people living in the the real world with real companies built upon foundation at the same time with scalability of an app driven concept.

    I want nothing more for Uber to succeed, Lyft, Postmastes as all are giving a future to many that would not or could not work within the constraints of more organized, less flexible jobs. Working around as if they are truly their own business is clearly not true nor sustainable, when do those financials show up?

    Unless their business model had these raises and show 10yrs of expected losses, I would not understand investments in these models past their model and results projected. I have not seen a model or vertical change suggesting further investments until the main core values, is valuable. Reinvest in verticles once your standing in the market place is well secured, singular focus is not expressed enough.

    Musk is one of the largest lost in the clouds dreamer, he is not andoing will not be a forefront to Mars. It’s been far invested and planned years before we knew his name. He is building pretty pictures for future cash advances, costly cash advances, that’s the real value of a Unicorn the dream and debt one can make, passing off to the others seeking that dream return but are only creating it from within.

    Planitar however is a collection of strong individuals and a business model for the most experienced to keep it at the forefront, reinvestment is growth capital not debt recovery capital.

    If I took 1Bn from a single investor that could make a reasonable decision to.cut it’s investment would you invest in a company even at a total restart of debt that does 3.7Bn in sales, with losses exceeding 60% of total sales, so with 5.5Bn in sales it will still be a losing Unicorn as expenses will rise with the increase.

    Could we see a chart of Unicorns that have an EPS? ROI and most important but very unlikely an ROA that would make a white labeled financial statement induce your investment. Blue Sky is easily lost when their is no major ability to not be replicated in fact how many cannot be copied without the same investments required for these so called Unicorns.

    I do not follow these companies as I have seen to many failures and do not believe in shot gun approaches, taking advantage of uneducated in business, underfunded of true innovators but not always greatest financial idealist, otherwise they would not give away 80% of their companies as they cannot get investments from investors knowing them the best, their for the product does not sell itself.

    What should occur is a CEO that knows the financial world and best packaging for that business, instead of a firm at a business they are for sure to be able to deeper take the company, earn their fees with almost no real work.

    I’m a pure entrepreneur but never could convince an unsustainable business model.unless truly structured for 10-20yrs of losses, development or whatever the foreseen business model is understood well enough before investments are made.or synergies guaranteeing success which do exist at levels.

    Not all great ideas or fulfilment of needs need to be doped by startups and my greatest fears for investors is a business where large companies do not announce their developments for capital raises only to enter the market overcoming or matching with ease and built trust, synergies within like Block chain against the larger legacy companies as Block chain isn’t a disruption just an added benefit within established companies or companies not established nor viable as clear valuable clients. ACH is instantaneous now, Block chain will be placed by a non-start up when making sense or possible small investments just to absorb on the back.of the innovator.

    We could write a boom sof I’ll stop here but if Unicorns can be show that if what it takes to double, triple 10x their earnings when does the cost of customer acquisition, satisfaction at the highest standard and abilities to grow without duplicating the unknown losses esspecially the next vertical created many rides to.cover the first.

    I as mentioned do not have experience and like/use many of the companies but like Jetsmarter, hemorrhaging cash raises again, new executives but easily duplicated when a Ponzi development losses are discussed by many, taking advantage until they cannot get reinvestment. The price point for entry is past ease of offerings, their is simply to many costs for their model to be sustainable yet easy seem that shuttles are created for development areas then changes are made rendering the “investment” made unsustainable, does their PPM included a risk clause of for examples a Securities Exchange clause especially supported in CA, NY as Uber’s main cities, in fact how many cities truly make the balance of their revenue, I believe this would show the 1st step in believing their position in the marketplace, compliance controlled and could easily handle major issues as Driver management wether Sexual misconduct, Theft, uncontrollable poor news worthy customer experiences and then the costs controls as the drivers can move from app to app, legally could not be told they cannot or employment issues would crash the companies financial projections overnight and easily enforced by 1 state which leads to trending.

    Are there everything isn’t rosey, risk based valuations created against these so called Unicorns? I would appreciate insight into companies with this knowledge before IPO’s are the only way the experience VChris firms control and have shown to not be correct within the marketplace or long term sustainability building off peopleso desires to be involved with services they enjoy but may not understand their capital and their use is the real cost of playing within these companies investment backups.

  • blackylawless

    Infor? Really. It’s a PE funded concern, not VC funded, and it’s a company whose product line is an ERP graveyard and maintenance revenue mine. You won’t find product differentiation here, though you’ll still find a hodgepodge of many different products–many.

    Anyway, California’s cleaning up. Maybe Infor should open a California outpost to tap into the innovation ecosystem. Oh, wait, they have (GT Nexus). Well they’re in for some indigestion, not that this is anything new for them.

  • Kwami Fox

    I would love to see that also!!!

  • Ricardo

    No magic here. About 90% of them will disappear after a couple of years.

  • Bob

    Most of the people who comment about failures here are just happy commenting, couch managers, financial analysts, who dont take risks or afraid to fail. Loosers who just dont do anything or do not attempt anything. These are the people who lived in caves and stopped the other guy from venturing outside the cave sighting the risks and calculations. I say let them all fail, that is what matters, success will rise like Phoenix from these ashes, and it may look different. Mankind is here because majority failed, and few succeeded, not because Majority succeeded, and as quoted from Independence day below

    “We will not go quietly into the night!
    We will not vanish without a fight!
    We’re going to live on!
    We’re going to survive!”

    That does not guarantee a success but, it gives you fighting spirit, to change the world.

  • David

    You missed one in Ohio. CoverMyMeds was bought for $1.1 billion this week.