The unicorns of SoCal Tech: 15 startups valued at Greater than $1B

In the business world, it’s fairly simple to comprehend success. High quality growth, strong customer retention rates and reduced costs for customer acquisition all point to a company moving in the right direction. But in regards to status symbol, nothing indicates the existence of a giant rather enjoy a major valuation.

Given that Southern California’s startup ecosystem was very small until recent decades, not a lot of unicorns called the place home.

That’s no longer the situation.

From Carpinteria into Orange County, Southern California is one of the fastest-rising tech markets on the planet, and our ecosystem now includes 15 unicorns, with a number of hopefuls knocking on the door.

Procore Technologies

Post-money valuation: $1 billion (December 2016)

Since its launch in 2003, Procore has become one of the most-used construction management software platforms. Headquartered on the shore at Carpinteria, the business reached unicorn status at the end of 2016 by closing a $50 million round of funding, which also helped the company expand operations to Australia and Canada.

The Honest Company

Post-money valuation: $1.7 billion (August 2015)

There may not be a startup with a more “LA” backstory than The Honest Company. Founded by prolific regional investor Brian Lee and actress Jessica Alba — as well as Sean Kane and Christopher Gavigan, both UCLA grads with important technology experience — the e-commerce manufacturer sells and develops eco friendly and affordable products for young children and their households.

Tinder

Post-money valuation: $1 billion (May 2015)

Among numerous technology startups that call West Hollywood home, Tinder’s dating program is utilized all around the world. Headquartered right about the Sunset Strip, the company allegedly obtained a 5 billion evaluation back in 2014, but this information was quickly refuted.

Age of Learning

Post-money valuation: $1 billion (May 2016)

Headquartered in Glendale, Age of Learning combines educational technology and gaming components to make an extensive online program for pre-K, kindergarten and early elementary school applications. In May of 2016, the company raised $150 million, the second most significant round of funding of this year.

Ten-X company

Post-money valuation: $1.2 billion (January 2016)

Formerly called Auction.com, a Ten-X firm, the company now just goes from Ten-X. According to Irvine, the online real estate market reached unicorn status in March 2014, just seven years after launching.

CrowdStrike

Post-money valuation: $1 billion (May 2017)

The latest Southern California unicorn, CrowdStrike, attained the semi-mythical $1 billion evaluation just a few months past in May 2017. Launched in 2011, the Irvine-based cloud security startup was named among the top 100 digital companies in LA for 2016.

Cylance

Post-money valuation: $1.1 billion (June 2016)

Another security startup based in Irvine, Cylance needed a large 2016. The business was one of a number of LA companies called to Inc’s “Top 15 Companies of the Year” for 2016, and we named them among those startups to watch in 2017.

Hulu

Post-money valuation: $5.8 billion (August 2016)

Missing in all of the hubbub surrounding LA Tech, it’s easy to overlook that one of those planet’s premier media companies, Hulu, has been founded right here in Santa Monica. The video streaming website was founded back in 2007, also boasts some of the most persuasive watches on television right now.

NantOmics

Post-money valuation: $1.8 billion (June 2015)

NantOmics, a subsidiary of neighborhood wellness tech startup NantWorks, develops cloud-based molecular profiling tools that help guide cancer patients. Before this year, the Culver City-based firm reported a 72 percent increase in total net earnings.

Razer

Post-money valuation: $1.5 billion (May 2017)

Another Irvine-based startup, Razer, just took two years to reach unicorn status. The e-commerce firm has apparently cornered the market on equipment for players, but following a recent financing of somewhere between $50 to $100 million, the business has made it crystal clear that it has diversifying the brand in big ways.

SpaceX

Post-money Evaluation: $15 billion (June 2016)

Hawthorne-based SpaceX is one of the most intriguing transportation technology businesses on the planet. Founded by Elon Musk back in 2002, the company topped Built In LA’s list of leading 100 digital firms in LA for 2016 and struck the unicorn markers back in 2012. Since then, it is valuation has increased fifteenfold.

TechStyle Fashion Group

Post-money valuation: $1 billion (August 2016)

El Segundo-based e-commerce giant TechStyle Fashion Group rebranded from JustFab in late-2016. Regardless of what the company is called, it just took them four years to achieve the 1 billion valuation markers, which they did back in March 2014.

Snap

Last Personal Valuation: $19.3 billion (May 2016)

IPO Valuation: $33 billion (March 2017)

Of all of the successful tech startups that call LA house, there might be no more important one than Venice’s Snap. Following a year that saw the company increase $1.8 billion, Snap filed its IPO in February of the year.

Cornerstone OnDemand

Last Personal Valuation: $2 billion (July 2017)

Among the true cornerstones of LA Tech, Cornerstone OnDemand went public back in 2011. The Santa Monica-based firm, which develops cloud-based talent management software platform is also one of the largest companies in Santa Monica.

NantHealth

Last Personal Valuation: $1.7 billion (Jan 2016)

IPO Valuation: $1.7 billion (June 2016)

Another subsidiary of NantWorks — and also based in Culver City — NantHealth is a health technology startup using a clinical platform that delivers solutions to advance diagnostics, enhancing the capability to target disease characteristics and enhancing the delivery of clinical information. Back in 2014, the startup closed a $250 million Series B, less than six weeks following closing two rounds, value $100 million and $16 million, respectively. The company went public in June 2016.

Original Article Can Be Found Here.

Leave a Reply

Your email address will not be published. Required fields are marked *