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The Rise Of The Ultra-Unicorns: $5B+ Startups Are Leading The Private-Market Herd In 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. Read more articles about seed funding, Series B trends, the rise of megafunds and the unicorn backlog over the decade. 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. The trends suggest that the top tier of...

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