A privately held startup company with over $1 billion value is known as a unicorn. But what is a soonicorn? A soonicorn is a soon-to-be unicorn, meaning startups with the potential for growth and the chance to become members of the soonicorn club. A venture capitalist or angel investor provides the majority of funding and financing for the soonicorn company. They develop a business valuation based on future predictions regarding the industry market and company valuations, which exceeds the startups’ current value and aims to project on it value in the future.
Let’s look at a list of 6 soonicorn startups that are crazy fascinating!
Spike is a leading email platform that wants to change how businesses use email. Your email transforms into a chat, with group chats and video meetings. You can collaborate with team members and clients and increase productivity with enhanced task management tools. As the future of email, Spike is on its way to becoming a unicorn. They have seen tremendous business growth in the past year, growing their employee count by 48 percent. The company has raised a total of $32 Million from some of the worlds leading investors that include: Insight partners, Mozilla corp, Nfx, Eric Yuan Zoom’s CEO, Wix capital, Guy Gamzu, Aryeh Mergi and others.
With valuations skyrocketing, 2021 has been significant for entrepreneurs providing buy now, pay later services. If the market’s enthusiasm persists, Billie, specializing in B2B enterprises, might join the list of unicorns already operating in Europe. In a 2021 funding round, Billie raised $100 million, roughly doubling its valuation to $640 million.
Pitch is a Berlin-based startup transforming how presentations are created as it was designed for collaboration and with modern companies in mind. Pitch makes it easy for teams to collaborate to create stunning presentations, pitch decks, and conference keynotes by emphasizing real-time communication, clever workflows, and customizable templates.
Popular brands that use Pitch include Slack, Framer, and MetaLab. Pitch has subsequently raised $137.7 million in funding.
Without being present on-site, the OpenSpace platform strives to make it simple for project stakeholders to collaborate on building projects. The company’s AI-driven software automatically takes a visual record of each area. Using a 360-degree camera attached to their hardhat, builders on the platform can begin by exploring a construction site like they typically would. After the footage has been uploaded to the cloud, a digital floor plan is produced using the company’s computer vision technology. Following a $102M Series D, OpenSpace is approaching unicorn status. The company is now valued at $902 million with the most recent raise.
5. Flo Health
Flo Health’s app for women’s health helps women at every step of the reproductive cycle. Menstruation, cycle prediction, ovulation planning, pregnancy, early motherhood, and menopause are all monitored. Having raised $75.5 million in funding, Flo Health has a company value of $800 million.
Biweekly salary payments aren’t always enough. Waiting to get paid can make a person feel anxious when bills need to be paid. Earnin aims to solve this dilemma. This innovative venture in California allows you to access your income as you earn it, whenever you want, from your smartphone. Earnin doesn’t impose a subscription fee or interest. Instead, it allows customers to pay what they consider appropriate with each transaction. Earnin has raised $190.1 million in funding since its inception.
The startup industry is constantly changing, and many soonicorn companies may easily switch to unicorn status over a year. Keep your eye out on our list of 6 soonicorn startups – they may join the unicorn club faster than we think!