Meet the 53 most valuable enterprise tech startups, worth as much as $216 billion collectively

most valuable enterprise startups 2x1

Business Insider compiled a list of 53 of the most valuable enterprise technology startups in the US using data from technology market databases PitchBook and CB Insights.
The list includes startups worth more than $1 billion that sell technologies such as cloud computing, software, and developer tools.
The list turned up several cases of startups having to significantly cut staff, raise money at a lower valuation, or take other cost-saving measures to weather the pandemic.
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The enterprise tech unicorn club is bigger than ever.

Business Insider compiled a list of 53 of the most valuable enterprise technology startups in the US using data from technology market databases PitchBook and CB Insights and found that they're collectively worth as much as $216 billion.

We've defined "enterprise technology" fairly broadly for the purposes of this list: We focused on startups valued at more than $1 billion that are largely selling their technology to other companies in areas including — but not limited to — cloud computing, software, and developer tools.

PitchBook provided a list of its top 30 venture-backed enterprise technologies companies in the US, but Business Insider's definition means that some companies on the list, including SpaceX (valued at $35.8 billion), Waymo (valued at $30.75 billion), and DoorDash (valued at $16 billion) didn't make it onto this ranking.

We also search CB Insights' database of private companies valued at $1 billion or more and searched for companies that matched our definition.

Notably, the list of 53 enterprise startups includes only one led by a women: Magic Leap's newly appointed CEO Peggy Johnson, and she doesn't technically take over until next month. Silicon Valley Bank's 2019 Women in Technology Leadership study found that only 56% of startups have at least one woman executive and only 40 percent have at least one woman board director.

Men of color and women of all backgrounds also typically have a harder time raising startup funding: Black-founded startups, for example, accounted for just 1% of venture-capital-backed companies between 2014 and 2019, as noted in a recent Business Insider story on the challenges Black entrepreneurs face.

While enterprise startups are expected to be more insulated to the effects of the downturn than consumer technologies, our list turned up several cases of companies having to significantly cut staff, raise money at a lower valuation, or take other cost-saving measures to weather the pandemic, which we've noted accordingly.

Here are 53 of the most valuable enterprise technology startups, according to a Business Insider analysis of PitchBook and CB Insights estimates:

Stripe: $36 billion

Headquarters: San Francisco, California

Year founded: 2009

Total raised: $1.89 billion as of April 2020

Employees: 2,500 as of May 2020

What it does: Stripe builds a digital payments platform used by companies including Airbnb, Amazon, and Target. Cofounder and president John Collison recently spoke to Business Insider about raising $600 million amid the pandemic, and signing new customers like Mattel and NBC.

Source: PitchBook

Palantir Technologies: $20.33 billion

Headquarters: Palo Alto, California

Year founded: 2004

Total raised: $3.35 billion as of July 2020

Employees: 2,500 as of May 2020

What it does: Historically secretive Palantir, which creates software to help companies manage and analyze data, is preparing to go public.

It's best known for its cofounder, Peter Thiel, who is a Facebook board member and one of the biggest Donald Trump supporters in Silicon Valley, as Business Insider recently wrote in an in-depth explainer on the company.

Source: PitchBook

Snowflake: $12.4 billion

Headquarters: San Mateo, California

Year founded: 2012

Total raised: $1.4 billion as of June 2020

Employees: 1,650 as of April 2020

What it does: Snowflake helps companies store and manage data in the cloud. The startup is reportedly planning to go public in the near future. "It's going to be the blockbuster enterprise listing for 2020," as one analyst recently told Business Insider.

Source: PitchBook

UIPath: $10.2 billion

Headquarters: New York, New York

Year founded: 2012

Total raised: $1.2 billion as of July 2020

Employees: 3,000 as of July 2020

What it does: UIPath builds helps businesses automate common and routine tasks through a technology called robotic process automation (RPA). The startup is eyeing an IPO next year, as Business Insider recently reported.

Source: PitchBook and CB Insights

Tanium: $9 billion

Headquarters: Emeryville, California

Year founded: 2007

Total raised: $837.08 million as of June 2020

Employees: 1,500 as of April 2020

What it does: Tanium is a cybersecurity firm that works to make companies more secure by protecting so-called "endpoints" like desktops, laptops, and mobile devices. Salesforce signed a deal with Tanium in February to keep company information secure during the shift to remote work, which raised Tanium's valuation to $9 billion.

Source: PitchBook

Automation Anywhere: $6.8 billion

Headquarters: San Jose, California

Year founded: 2003

Total raised: $840 million as of November 2019

Employees: 2,600 as of May 2020

What it does: Automation Anywhere is another RPA startup that helps companies automate repetitive tasks. CEO Mihir Shukla recently told Business Insider that the startup can now "automatically discover" business tasks to be automated.

Source: PitchBook

Magic Leap: Last known valuation was $6.69 billion in 2019

Headquarters: Plantation, Florida

Year founded: 2012

Total raised: $3.48 billion as of May 2020

Employees: 1,500 as of June 2020

What it does: Once-hyped augmented reality startup Magic Leap is trying to reinvent itself after poor sales on its first product. Magic Leap laid off almost half its workforce in April, announced a pivot to the enterprise market, and just hired Microsoft's former top dealmaker Peggy Johnson as CEO.

Magic Leap raised $350 million in May amid the challenges, but it's unclear at what valuation.

Source: PitchBook

Unity: $6.28 billion

Headquarters: San Francisco, California

Year founded: 2004

Total raised: $699 million as of July 2019

Employees: 3,200 as of June 2020.

What it does: Unity Technologies makes a game engine and software tools that power a handful of popular games including "Pokémon Go" and "Mario Kart Tour." In July, the company announced plans to go public.

Source: PitchBook

Samsara: $5.4 billion, down from $6.3 billion

Headquarters: San Francisco, California

Year founded: 2015

Total raised: $930 million as of May 2020

Employees: 1,350 as of July 2020

What it does: Samsara builds sensors and cloud software for so-called "Internet of Things" connected devices and applications. While the startup is still one of the most valuable in the enterprise technology market, it's faced recent challenges.

The San Francisco Business Times reported in May that Samsara laid off 300 employees — about 18% of its workforce — and raised $400 million in funding at a lower valuation than it previously held, citing the economic crisis caused by the pandemic. Samsara confirmed the report to Business Insider, which a spokesperson said was to "ensure we can operate sustainably and reach full profitability, even under the worst case economic conditions or if a recession lasts for years."

Source: PitchBook

Plaid: $5.3 billion

Headquarters: San Francisco, California

Year founded: 2012

Total raised: $309.3 million as of January 2020

Employees: 500 as of July 2020

What it does: Plaid's payment infrastructure software connects users' bank accounts to financial applications like Robinhood and Credit Karma. Visa in January announced plans to acquire the company for a whopping $5.3 billion.

Source: PitchBook

HashiCorp: $5.27 billion

Headquarters: San Francisco, California

Year founded: 2012

Total raised: $349.53 million as of March 2020

Employees: 1,000 as of June 2020

What it does: HashiCorp sells a slew of cloud tools that assist in solving security and operational issues for cloud infrastructure developers. As for HashiCorp's future plans, CEO Dave McJannet recently told Business Insider it intends to be "large standalone independent company."

Source: PitchBook

Procore: $4.85 billion

Headquarters: Carpinteria, California

Year founded: 2003

Total raised: $640 million as of April 2020

Employees: 1,911 as of December 2019

What it does: Procore builds construction management software intended to simplify everyday tasks for construction workers, like creating job site schedules. Procore had plans to go public, according to Bloomberg, but has postponed those plans and instead completed a $150 million funding round in April.

Source: PitchBook

Toast POS: $4.9 billion

Headquarters: Boston, Massachusetts

Year founded: 2011

Total raised: $897.25 million as of February 2020

Employees: 3,000 in February, before cutting "roughly 50 percent through layoffs and furloughs" in April. Current employee count unclear.

What it does: Toast makes software for restaurants and had to cut half its staff in April after the coronavirus crisis hit the restaurant industry hard. The company had raised $400 million just before the crisis, and if it had not raised that round in February, it'd be in big trouble," investor Mitchell Green of Lead Edge Capital told Business Insider around the time of the layoffs.

Source: PitchBook

Zenefits: Last known valuation $4.5 billion in 2015.

Headquarters: San Francisco, California

Year founded: 2013

Total raised: $598.27 million as of March 2019

Employees: 450 as of May 2020

What it does: Zenefits offers human resources and payroll software for small and medium companies. As Business Insider reporter Rob Price writes, Zenefits was once one of the buzziest startups in Silicon Valley but dealt with various scandals and ultimately saw its valuation drop to $2 billion in 2016, replaced its CEO, and was fined by California regulators. Zenefits has laid off 15% of its staff in April; its current valuation is unknown.

Source: PitchBook

Airtable: Up to $4 billion

Headquarters: San Francisco, California

Year founded: 2012

Total raised: $170 million as of November 2018

Employees: 70 as of November 2018

What it does: Airtable builds tools to make it easier for people to build software applications without knowing how to code. Airtable CEO Howie Liu told Business Insider in March that the company has quadrupled its revenue since it raised a $100 million Series C round of funding in 2018, but declined to give actual figures.

CB Insights lists Airtable's valuation as $1.1 billion, what it was valued at the time of its last funding round in 2018, but PitchBook estimates the company is worth as much as $4 billion.

Source: PitchBook and CB Insights

TripActions: $4 billion

Headquarters: Palo Alto, California

Year founded: 2015

Total raised: $125 million as of June 2020

Employees: 900 as of June 2020

What it does: TripActions helps customers plan and pay for business trips without having to go through the arduous approval and reimbursement process that most companies use.

TripActions has faced challenges during the pandemic. As Business Insider's Megan Hernbroth writes, it cut roughly one-fourth of its global workforce in March, slashed benefits, closed offices, and cut its cofounders' pay in half.

Source: PitchBook and CB Insights

Gusto: $3.8 billion

Headquarters: San Francisco, California

Year founded: 2011

Total raised: $200 million as of July 2019

Employees: 800 as of May 2020

What it does: Gusto makes human resources software for small businesses.

Source: PitchBook

Freshworks: $3.5 billion

Headquarters: San Mateo, California

Year founded: 2010

Total raised: $401.1 million as of November 2019

Employees: 3,000 as of June 2020

What it does: Freshworks builds customer relationship management software. CEO Girish Mathrubootham recently told Business Insider the company has pledged not to hold any layoffs during the pandemic, though it has paused hiring.

Source: PitchBook and CB Insights

Rubrik: $3.3 billion

Headquarters: Palo Alto, CA

Year founded: 2014

Total raised: $553 million as of March 2020

Employees: 1,700 as of March 2020

What it does: Rubrik builds a cloud data management platform.

Source: PitchBook and CB Insights

C3.ai: Up to $3.3 billion

Headquarters: Redwood City, California

Year founded: 2009

Total raised: $355.74 million as of September 2019

Employees: 500 as of April 2020

What it does: C3.ai provides artificial intelligence-based tools to help companies with tasks such as fraud detection and energy management. C3.ai CEO Tom Siebel recently told Business Insider that the startup brought in $160 million in revenue last year, but won't go public until the economy is fully recovered.

PitchBook puts the company's valuation at $3.3 billion while CB Insights puts it at $1.4 billion.

Source: PitchBook and CB Insights

Netskope: $2.8 billion

Headquarters: Santa Clara, California

Year founded: 2012

Total raised: $744.3 million as of February 2020

Employees: 1,000 as of July 2020

What it does: Netskope builds a cloud security platform to help companies monitor how employees are using cloud software such as Slack and Google Drive — and make it more secure.

Source: PitchBook and CB Insights

GitLab: $2.75 billion

Headquarters: San Francisco, California

Year founded: 2011

Total raised: $413.82 million as of September 2019

Employees: 1,200 as of June 2020

What it does: Gitlab is a code-collaboration platform that rivals Microsoft-owned GitHub. GitLab in April said it would close job postings and only hire for critical positions to save money amid the coronavirus crisis.

Source: PitchBook

OneTrust: $2.7 billion

Headquarters: Atlanta, Georgia

Year founded: 2016

Total raised: $420.9 million as of July 2020

Employees: 1,500 as of May 2020

What it does: OneTrust builds a platform intended to help companies manage data privacy. The company in February told Business Insider that a recent California data privacy law was a big boost to its business.

Source: PitchBook and CB Insights

Cohesity: $2.5 billion

Headquarters: San Jose, California

Year founded: 2013

Total raised: $661 million as of April 2020

Employees: 1,300 as of May 2020

What it does: Cohesity builds a platform for storing and managing company data.

Source: PitchBook and CB Insights

Collibra: $2.36 billion

US headquarters: New York, New York

Year founded: 2008

Total raised: $389.96 million as of March 2020

Employees: 655 as of March 2020

What it does: Collibra builds a platform to help companies manage, track, and learn from their data. CEO Felix Van de Maele told Business Insider in April that he expects demand for data services to continue despite cuts to IT budgets during the pandemic.

Source: PitchBook and CB Insights

Uptake: Last known valuation was $2.3 billion in 2017.

Headquarters: Chicago, Illinois

Year founded: 2014

Total raised: $293 million as of December 2018

Employees: 750 as of February 2018

What it does: Uptake builds a predictive analytics platform to help companies gain insights from their data. The company was valued at $2.3 billion back in 2017. Crain's Chicago Business recently reported that Uptake had cut jobs as recently as December. Uptake has yet to respond to an email from Business Insider.

Source: PitchBook and CB Insights

ServiceTitan: $2.25 billion

Headquarters: Glendale, California

Year founded: 2007

Total raised: $399.78 million as of May 2020

Employees: 900 as of May 2020

What it does: ServiceTitan provides cloud software for residential home services businesses, like home repairs and housecleaning.

Source: PitchBook and CB Insights

Figma: $2.05 billion

Headquarters: San Francisco, California

Year founded: 2012

Total raised: $132.87 million as of April 2020

Employees: 209 as of April 2020

What it does: Figma is a project management tool for digital product designers.

Source: PitchBook and CB Insights

Postman: $2 billion

Headquarters: San Francisco, California

Year founded: 2014

Total raised: $208 million as of June 2020

Employees: 250 as of June 2020

What it does: Postman builds a collaboration platform offering application programming interfaces (APIs) that's used by Microsoft, Twitter, and Cisco.

Source: PitchBook and CB Insights

Auth0: $1.92 billion

Headquarters: Bellevue, Washington

Year founded: 2013

Total raised: $333.47 million as of July 2020

Employees: 700 as of July 2020

What it does: Auth0 is a cybersecurity software startup that manages user authentication and secures the login pages for large consumer and enterprise businesses.

Source: PitchBook and CB Insights

RigUp: $1.84 billion

Headquarters: Austin, Texas

Year founded: 2014

Total raised: $517.5 million as of March 2020

Employees: 180 as of March 2020

What it does: RigUp builds hiring and payroll software for the oil and gas industry. The startup laid off 25% of its staff in March.

Source: PitchBook and CB Insights

Sprinklr: Last known valuation was $1.81 billion in 2016.

Headquarters: New York, New York

Year founded: 2009

Total raised: $228.5 million as of June 2017

Employees: 1,800 as of May 2020

What it does: Sprinklr builds a platform to help enterprise businesses manage social media. Back early 2019, Sprinklr told Business Insider that it hit between $250 million to $300 million in revenue and was preparing to go public. It's been mostly quiet since.

Source: PitchBook and CB Insights

Afiniti: $1.8 billion

Headquarters: Washington, DC

Year founded: 2006

Total raised: $377.43 million as of July 2020

Employees: 1,000 as of June 2018

What it does: Afiniti builds an artificial intelligence and analytics platform that it says is used by companies in industries including telecommunications, financial services, and health care. The company is valued at $1.8 billion, according to CB Insights. PitchBook lists a $100 million valuation from October 2014.

Source: PitchBook and CB Insights

Verkada: $1.6 billion

Headquarters: San Mateo, California

Year founded: 2016

Total raised: $149.8 million as of January 2020

Employees: 380 as of January 2020

What it does: Verkada sells security cameras and software to help enterprise secure physical offices.

Source: PitchBook and CB Insights

Dataminr: $1.6 billion

Headquarters: New York, New York

Year founded: 2009

Total raised: $572.37 million as of October 2019

Employees: 650 as of April 2020

What it does: Dataminr has an artificial intelligence platform to track social media and has customers including American Airlines, McDonalds, and Home Depot. The Intercept recently reported that Dataminr helped police monitor protests following the police killing of George Floyd.

Source: CB Insights

Xant.ai: $1.58 billion

Headquarters: Provo, Utah

Year founded: 2004

Total raised: $299.3 million as of February 2020

Employees: 146 as of April 2020

What it does: Xant.ai builds a cloud sales platform that integrates with customer relationship management software.

Source: PitchBook and CB Insights

Podium: $1.5 billion

Headquarters: Lehi, Utah

Year founded: 2014

Total raised: $221.89 million as of April 2020

Employees: 750 employees as of June 2020

What it does: As Business Insider's Ben Pimentel writes, Podium builds a platform to makes it easier for a local business to communicate with customers, via email or text, and ask them to post a review on most of the popular review sites, such as Yelp and Google

Source: PitchBook and CB Insights

Asana: $1.5 billion

Headquarters: San Francisco, California

Year founded: 2008

Total raised: $213.51 million as of February 2020

Employees: 700 as of January 2020

What it does: Asana builds task management software to help teams keep track of work. Asana confidentially filed for an initial public offering with the SEC in February and plans to go public this year.

Source: PitchBook and CB Insights

Segment: $1.5 billion

Headquarters: San Francisco, California

Year founded: 2011

Total raised: $283.6 million as of April 2019

Employees: 500 as of March 2020

What it does: Segment builds data management and analysis software to help companies manage customer data. Segment cut more than 50 jobs from its workforce in May ,as Business Insider reported, citing as the pandemic-caused downturn.

Source: PitchBook and CB Insights

Cybereason: $1.5 billion

Headquarters: Boston, Massachusetts

Year founded: 2012

Total raised:$390 million of August 2019

Employees: 500 in January 2020

What it does: Softbank-banked Cybereason sells software to secures a company's network and the devices connected to it, like phones, laptops, and desktop computers, as Business Insider's Rosalie Chan writes. CB Insights lists a $1.5 billion valuation for the company while PitchBook lists a $1 billion valuation.

Source: PitchBook and CB Insights

JFrog: Up to $1.5 billion

Headquarters: Sunnyvale, California

Year founded: 2008

Total raised: $228 million as of October 2019

Employees: 600 as of April 2020

What it does: DevOps startup JFrog builds a platform to help companies manage software updates. JFrog cofounder and CEO Shlomi Ben Haim recently told Business Insider that it could go public as soon as this year. PitchBook lists a $426.85 million valuation for JFrog as of October 2019 while CB Insights values it at $1.5 billion.

Source: PitchBook and CB Insights

Dataiku: $1.4 billion

Headquarters: New York, New York

Year founded: 2013

Total raised: $147.3 million as of January 2020

Employees: 400 as of February 2020

What it does: Dataiku's machine learning software helps companies turn large amounts of data into concrete insights. CB Insights lists Dataiku's valuation as $1.4 billion while PitchBook lists it as of November 2018 as $671 million.

Source: PitchBook and CB Insights

Outreach: $1.33 billion

Headquarters: Seattle, Washington

Year founded: 2011

Total raised: $287.96 million as of June 2020

Employees: 550 as of June 2020

What it does: Outreach is a sales automation startup that helps salespeople engage with customers more effectively by helping them determine the best action to take with prospective customers.

Source: PitchBook and CB Insights

Docker: $1.3 billion

Headquarters: Palo Alto, California

Year founded: 2010

Total raised: $314.81 million as of November 2019

Employees: 500 as of September 2019

What it does: Docker builds a container platform intended to make collaboration easier for coders.

Source: PitchBook and CB Insights

Actifio: As much as $1.3 billion

Headquarters: Waltham, Massachusetts

Year founded: 2009

Total raised: $461.13 million as of August 2018

Employees: 427 as of January 2020

What it does: Actifio creates enterprise cloud data management software. CB Insights lists Actifio's value as $1.1 billion and PitchBook estimates it is $1.3 billion.

Source: PitchBook and CB Insights

Qumulo: $1.2 billion

Headquarters: Seattle, Washington

Year founded: 2012

Total raised: $363.01 million as of July 2020

Employees: 315 as of July 2020

What it does: Qumulo is a hybrid cloud storage startup that helps customers manage data inside their own data centers and the cloud. Qumulo more than doubled its valuation in a recent funding round and told Business Insider that it shows how investors are betting big on digital transformation amid the pandemic.

Source: PitchBook and CB Insights

FiveTran: $1.2 billion

Headquarters: Oakland, California

Year founded: 2012

Total raised: $163.12 million as of June 2020

Employees: 350 as of June 2020

What it does: FiveTran builds a platform to bring together all of a company's data into a single dashboard.

Source: CB Insights

VAST Data: $1.2 billion

Headquarters: New York, New York

Year founded: 2016

Total raised: $180 million as of April 2020

Employees: 145 as of April 2020

What it does: As Business Insider's Joe Williams writes, VAST Data builds a storage solution intended to make it easier for companies to quickly and continuously analyze large sets of information.

Source: PitchBook and CB Insights

DigitalOcean: $1.15 billion

Headquarters: New York, New York

Year founded: 2011

Total raised: $595.6 million as of May 2020

Employees: 563 as of May 2020

What it does: Cloud computing company DigitalOcean competes with the big providers like Amazon Web Services, Microsoft, and Google, but targets small and medium businesses.

Source: PitchBook and CB Insights

SentinelOne: $1.1 billion

Headquarters: Mountain View, California

Year founded: 2013

Total raised: $429.52 million as of February 2020

Employees: 500 as of April 2020

What it does: SentinelOne is a cybersecurity startup that helps companies protect devices and servers.

Source: PitchBook and CB Insights

Sumo Logic: $1.19 billion

Headquarters: Redwood City, California

Year founded: 2010

Total raised: $345.5 million as of May 2019

Employees: 735 as of November 2019

What it does: Sumo Logic helps developers secure cloud software.

Source: PitchBook and CB Insights

Icertis: $1.15 billion

Headquarters: Bellevue, Washington

Year founded: 2009

Total raised: $171.5 million as of July 2019

Employees: 1,000 as of June 2020

What it does:Icertis builds a platform to help customers manage contracts in the cloud, which its leaders say increases a company's capacity for contracts, ensures those contracts comply with regulations and policies and reduces costs.

Source: PitchBook and CB Insights