Meet The 9 Newcomers To Join The Emerging Unicorn Board In April

Last month, nine companies joined The Crunchbase Emerging Unicorn Board, a curated list of global private companies on the path to achieving unicorn status. 

The board currently lists 305 companies, each with a disclosed valuation of $500 million or above, but less than $1 billion. The current cohort has altogether raised $62.6 billion and is collectively valued at $207 billion. 

Of the nine newcomers to join the board, three each hailed from the United States and India, and one each from Israel, Brazil and the U.K. Fewer companies achieved emerging unicorn status in April than in March, however, when 19 companies joined the board.1

Here are the companies that raised funding with disclosed valuations of between $500 million and $1 billion in April 2022.

Fintech

• Seven-year-old India-based insurtech platform Turtlemint raised $120 million, valuing the company at more than $900 million. The round was led by Bay Area-based Nexus Venture Partners, and Singapore-based investors Jungle Ventures and Amansa Capital.
• London-based small business trade financing platform Stenn, a 7-year-old company, raised a $50 million Series A. This valued the company at $900 million. The round was led by New York-based PE firm Centerbridge Partners.
• Three-year-old Sao Paulo-based debit card issuer Stark Bank raised a $45 million Series B that valued the company at $500 million. The round was led by fintech investor Ribbit Capital and Bezos Expeditions. Investor Lachy Groom, previously at Stripe, led the Series A. 
• The smallest funding was raised by 1-year-old Parallel Finance. The San Francisco-based startup, a decentralized finance (DeFi) protocol that offers lending and staking services, raised a $5 million venture round that valued the company at $500 million. Coinbase, StarkWare and Section 32—founded by Bill Maris, previously at GV—invested. 

Transportation

• Of the companies that joined the board in April, Bangalore-based Rapido is the most capitalized, having raised more than $300 million. Six-year-old Rapido, a service that offers bike taxis for delivery, raised a $180 million Series D valuing it at $830 million. The funding was led by food delivery company Swiggy, which already utilizes Rapido’s services and is itself a unicorn.

Professional services

• Boston-based LinkSquares, a 7-year-old company that offers contract management tools for in-house legal teams, raised a $100 million Series C. Now valued at $800 million, the company’s funding was led by Chicago-based growth firm G Squared.

Health care

• Mumbai-based Medikabazaar, a 7-year-old B2B marketplace for medical supplies and equipment, raised a $65 million Series D that values it at $700 million. The funding was led by Mumbai-based crossover investor Lighthouse Funds.

Marketing tech

• San Francisco-based Mutiny, a 3-year-old company that helps marketers convert free users to paid with personalized website copy using machine learning, raised a $50 million Series B valuing the company at $600 million. The funding was led by New York growth equity firms Tiger Global Management and Insight Partners.

Cybersecurity

• Israel-based Coro, a 7-year-old cybersecurity company that serves mid-market companies, raised a $60 million Series C that valued the company at $500 million. The funding was led by London-based venture firm Balderton Capital.

Graduates

Eight companies graduated from the Emerging Board to The Crunchbase Unicorn Board in April 2022. 

These include (from youngest to oldest);

• AI company Anthropic;
• Restaurant supplier Choco;
• Insurtech Newfront Insurance; 
• Elon Musk’s underground tunneling company The Boring Company;
• Digital therapeutics company Biofourmis;
• Smart box delivery company Instabox;
• Wellness ring ŌURA; and  
• Sports media platform OneFootball.

Note: Please reach out to our Senior Data Editor Gené Teare at gene@crunchbase.com if you have any questions or feedback on The Crunchbase Emerging Unicorn Board, or if you spot any data that’s missing or inaccurate.

Illustration: Dom Guzman

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