// SECTOR DOSSIER
Software Unicorns
Every Software unicorn we track — 53 private companies valued $1B or more, tiered by paper valuation. Combined balance sheet myth: $398B.
TIER 2 // PRIORITY TARGETS
The Decacorns $10B – $99B · 11
TIER 3 // STANDING HORDE
The Unicorn Herd $1B – $9.9B · 42
- OutSystems$9.5BPORTUGAL
- Gitlab$8BUNITED STATES
- Dropbox$8BUNITED STATES
- Postman$5.6BUNITED STATES
- Dataiku$4.6BUNITED STATES
- Houzz$4BUNITED STATES
- Contentful$3BGERMANY
- Wildlife$3BBRAZIL
- JFrog$3BUNITED STATES
- Pendo$2.6BUNITED STATES
- DriveNets$2.5BISRAEL
- Kingsoft$2.4BCHINA
- Gamma$2.1BUNITED STATES
- Sword Health$2BPORTUGAL
- Meitu$2BCHINA
- Lightricks$1.8BISRAEL
- Productboard$1.725BUNITED STATES
- dLocal$1.5BURUGUAY
- Andela$1.5BUNITED STATES
- MuleSoft$1.5BUNITED STATES
- WhatsApp$1.5BUNITED STATES
- Hellobike$1.47BCHINA
- Zeta$1.45BUNITED STATES
- Yugabyte$1.3BUNITED STATES
- Flywire$1.2BUNITED STATES
- Workhuman$1.2BUNITED STATES
- Ada$1.2BCANADA
- Nexthink$1.1BSWITZERLAND
- Flutterwave$1BUNITED STATES
- Shippo$1BUNITED STATES
- Heptagon$1BFINLAND
- Acronis$1BSINGAPORE / SWITZERLAND
- Truecaller$1BSWEDEN
- Redis Labs$1BUNITED STATES
- Pentera$1B
- Pantheon Systems$1BUNITED STATES
- Tekion$1BUNITED STATES
- Scandit$1BSWITZERLAND
- VTS$1BUNITED STATES
- Zenoti$1BUNITED STATES
- CRF Health$1BFINLAND
- Shazam$0B