Artificial intelligence Clean tech and energy Cybersecurity Fintech & e-commerce Health, Wellness & Biotech Transportation & Logistics Venture

Cybersecurity Sector Leads For New Unicorns In October, With Zero From Silicon Valley

Image to illustrate The Crunchbase Unicorn Board

While nine companies joined The Crunchbase Unicorn Board in October 2023, the majority of the existing unicorn companies that raised additional funding last month did so through extension rounds that came with no increase in value, an analysis of Crunchbase data shows.

Of the new unicorns, two focus on cybersecurity, while a single company was in the generative AI category, a startup based in Beijing that is less than a year old.

Interestingly, zero companies joined from Silicon Valley.

Two unicorn companies — Convoy, a trucking company, and health care claims management provider Olive AI — shuttered amid the current market funding pullback, while many companies on the board have values that would no longer hold in this funding environment.

Defense tech Shield AI, which joined the unicorn board in 2021, was one of the few existing unicorn companies to raise funding at an increased value last month, going from its 2022 valuation of $2.3 billion to $2.7 billion with its most recent raise.

Here are the companies that joined the Unicorn Board in October, by sector.








Health care

Of this list, three companies were founded in the last five years: Headway, Electric Hydrogen and Baichuan Intelligence.

Related Crunchbase unicorn queries


The Crunchbase Unicorn Board is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on Crunchbase data. New companies are added to the Unicorn Board as they reach the $1 billion valuation mark as part of a funding round.

The unicorn board does not reflect internal company valuations — such as those set via a 409a process for employee stock options — as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to The Exited Unicorn Board.

Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.

Illustration: Dom Guzman

Search less. Close more.

Grow your revenue with all-in-one prospecting solutions powered by the leader in private-company data.


Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Copy link