Home Business NewsBusinessBusiness Growth News The 76 companies that reached unicorn, $1bn status in 2020

The 76 companies that reached unicorn, $1bn status in 2020

by LLB Finance Reporter
17th Nov 20 11:30 am

Automated payable system Tipalti hit a valuation of more than $2bn last month, bringing total funding raised to date to around $280m.

Millions of startups spring up each year, but only a handful ever make a success of it, which is why a private billion-dollar startup is so rare, also known as a unicorn. 

As 2020 draws to a close, Tipalti has taken a look at some of the other businesses that have joined this elite club in the last year.

The analysis revealed that 76 new companies have joined the exclusive unicorn club in 2020 – that’s 60% down from last year, with none of those 76 quite reaching ‘decacorn’ status yet (that’s a privately owned startup with a valuation of over $10m).

The top ten most valuable companies which have reached unicorn status in 2020:

Rank Company Valuation ($B) Date Joined Country Industry
1 National Stock Exchange of India $6.50 July India Fintech
2 Arrival $3.92 January United Kingdom Auto & transportation
3 GoPuff $3.90 October United States E-commerce & direct-to-consumer
4 HyalRoute $3.50 May Singapore Mobile & telecommunications
5 MessageBird $3 October Netherlands Mobile & telecommunications
6 Waterdrop $2.88 August China Fintech
7 Snyk $2.60 January United States Cybersecurity
8 Cazoo $2.50 June United Kingdom E-commerce & direct-to-consumer
9 Skydance Media $2.30 February  United States Other
10 Via Transportation $2.25 March United States Auto & transportation

The most valuable of these companies which reached unicorn status this year is the National Stock Exchange of India, at a value of $6.5m, with other notable new unicorns including the learning marketplace Udemy, fitness clothing brand Gymshark, and of course, Tipalti.

Fintech (17%), e-commerce (14%), and internet software and services (12%) were the industries which saw the most unicorn companies this year.

The top 5 countries with the most unicorns:

Rank Country Number of Unicorn Companies Number of Unicorn Companies (%)
1 United States 235 48%
2 China 119 24.3%
3 India 24 4.9%
4 United Kingdom 23 4.7%
5 Germany 12 2.4%


Almost half (48%) of the world’s unicorn companies were formed in the US, with 235, including 50% of the world’s decacorns too. 

The country with the second-highest amount of unicorns was China, with 119 (24.3%), including fashion brand SHEIN and ByteDance, the world’s only ‘hectocorn’ (valued at over $100bn).

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