The Rise Of The Ultra-Unicorns: $5B+ Startups Are Leading The Private-Market Herd In 2025

The Rise Of The Ultra-Unicorns: $5B+ Startups Are Leading The Private-Market Herd In 2025

Of the nearly 1,600 companies on The Crunchbase Unicorn Board, a small but ultra-elite club of private companies valued at $5 billion or more is growing across multiple metrics, an analysis of the data shows. We take a look at them, their valuations and which sectors — and countries — rank the highest.

A look at the rise of $5B+ unicorns, which make up 13% of ~1,600 unicorns but hold $3.5T of $6T total valuation; 17 startups joined the $5B+ club in H1 2025

Gené Teare / Crunchbase News: A look at the rise of $5B+ unicorns, which make up 13% of ~1,600 unicorns but hold $3.5T of $6T total valuation; 17 startups joined the $5B+ club in H1 2025  —  Editor's note: This article is part of a series looking at how the venture and startup landscape has evolved over the past 10 years.