Healthcare And Security Led For New Unicorns In February

Nine companies joined The Crunchbase Unicorn Board in February with healthcare and cybersecurity the leading sectors for new unicorn companies.

While by itself it wasn’t the leading sector for unicorn creation last month, artificial intelligence was a significant technology in the new healthcare and cybersecurity sector unicorns, as well as for those companies in the sales and marketing industries.

Four of the new February unicorns are U.S.-based, and Saudi Arabia, China, Israel, Ireland and Canada each added one new unicorn last month.

Private equity continues to play an outsized role in private venture-backed companies. Of the nine new unicorns, growth equity firms led six of the funding rounds, with venture capital firms leading three of the rounds with new unicorn valuations.

Altogether, the nine new unicorn companies added $15.6 billion in value and $1.9 billion in funding to the board.

February’s minted unicorns

Here are the nine newly minted February unicorns, by sector.

Healthcare

• Abridge, an AI tool for recording patient-clinician conversations that support billing, raised a $250 million Series D led by Elad Gil and IVP. Adopted by 100 health systems, the 6-year-old Pittsburgh-based company was valued at $2.8 billion.
• OpenEvidence, provider of an AI copilot for doctors, raised a $75 million Series A led by Sequoia Capital. The 3-year-old Cambridge, Massachusetts-based company, used by 10,000 care centers across the U.S. and hundreds of thousands of doctors, was valued at $1 billion.

Privacy and security

• Tines, a no-code workflow automation tool for data and security oversight, raised a $125 million Series C led by Goldman Sachs Growth with participation from SoftBank Investment Advisers. The 6-year-old Dublin-based company used by Canva, Elastic, Kayak and Intercom, was valued at $1.1 billion.
• Dream Security, a national cybersecurity company for governments or countries, raised a $100 million Series B led by Bain Capital Ventures. The 2-year-old Tel Aviv, Israel-based company was valued at $1.1 billion. Its founders include Sebastian Kurz, the former prime minister of Austria, alongside cybersecurity experts.

Advertising

Food and beverage

• Olipop, a prebiotic soda company, raised a $50 million Series C led by J.P. Morgan Growth Equity Partners. The 7-year-old Oakland, California-based company, which reached $400 million in sales in 2024, was valued at $1.9 billion.

Sales and marketing

• Hightouch, which builds customer personalized messaging using data and AI, raised an $80 million Series C led by Sapphire Ventures. The 6-year-old San Francisco-based company was valued at $1.2 billion.

Chemical manufacturing

• Keyuan Petrochemicals, a chemical manufacturer, raised a Series D led by Fosun. The 7-year-old Ningbo, China-based company was valued at $1.1 billion.

Environmental engineering

Related Crunchbase unicorn lists

Related reading:

Methodology

The Crunchbase Unicorn Board is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on Crunchbase data. New companies are added to the Unicorn Board as they reach the $1 billion valuation mark as part of a funding round.

The unicorn board does not reflect internal company valuations — such as those set via a 409a process for employee stock options — as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to The Exited Unicorn Board.

Exits analyzed here only include the first time a company exits.

Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.

Illustration: Dom Guzman