Private company valued at $1B+
A unicorn is a privately held startup company that has achieved a valuation of $1 billion or more. The term was coined by VC Aileen Lee in 2013. Companies valued at $10B+ are called decacorns; $100B+ are hectocorns.
Figma, Notion, and Vercel are all unicorns. As of 2026, there are over 1,200 unicorns globally.