In August, six companies with disclosed valuations joined the Crunchbase Emerging Unicorn Board, a curated list of companies valued above $500 million but less than $1 billion. The board currently hosts 356 companies valued collectively at over $243 billion. 1

While this board is not comprehensive, it profiles companies that are raising at higher valuations in a shrinking funding market. Equity stakes for investors in these fundings range from 4% to 20%. Customer engagement and B2B fintech lead the way for August’s new emerging unicorns.

Fintech

AtoB provides financial tools to trucking companies with a fuel card that includes discounts and payroll management. The San Francisco-based company raised a $75 million Series B valued at $800 million. It was led by General Catalyst and angel investor Elad Gil. AtoB’s seed funding in 2020 was led by Bloomberg Beta.

San Francisco-based Parafin, a provider of financing through platforms that serve small businesses, raised a $60 million round led by GIC. This Series B round values the company at $520 million. Parafin raised a $4 million seed investment in 2020 led by Ribbit Capital.

Marketing and sales

San Francisco-based Gorgias has built an integrated helpdesk for e-commerce companies. It raised a $30 million Series C with a $710 million valuation. The round was led by Shopify and Transpose Platform. Techstars led its pre-seed funding in 2015.

CleverTap is a customer engagement platform that can run real-time personalized campaigns. The Mountain View, California- and Mumbai-based company raised a $105 million Series D funding led by Caisse de Depot et Placement du Quebec, valuing the company at $775 million. Its seed round in 2014 was led by Accel.

Web3

Animoca Brands KK, a Japan-based subsidiary of Animoca Brands, raised a $45 million Series A at a $545 million valuation. The company is focused on digital property rights through NFTs in the Japanese market. The funding was led by MUFG Bank.

Sports entertainment

Brooklyn-based Overtime, a sports content developer that also builds sports leagues, raised a $100 million round valued at $500 million led by Liberty Media and Counterpoint Global. Greycroft led its seed funding in 2017.

Graduates

South Korea-based B2B agriculture marketplace Tridge, and New Delhi-based e-commerce platform for shipping Shiprocket both graduated from the emerging unicorn board to become billion-dollar valued companies in August 2022. Their prior funding, which valued them as emerging unicorns, were in 2021.

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Methodology

The curated Crunchbase Emerging Unicorn Board includes private companies with known valuations of $500 million or more but less than $1 billion, based on Crunchbase data. The list is updated whenever a new company reaches that valuation range or there is a change in valuation for a company already on the leaderboard. Companies that are subsequently valued at more than $1 billion will be removed from the board and promoted to The Crunchbase Unicorn Board. Companies that exit will also be removed from the Emerging Unicorn Board.

Illustration: Dom Guzman