MARS Funding Intelligence · as of August 13, 2026
Every company on this page will need an investor-relations function. These are the 260 private companies our funding data flags as closest to the public markets — venture-backed, late-stage, and carrying a fresh billion-dollar-plus valuation.
Ranked by latest disclosed private valuation. Still private (no public ticker), priced in the last 24 months, integrity-verified. The future-IR-client shortlist, before the S-1.
The headline tier — the largest private companies in the world. When these file, it is front-page news; the IR mandate is contested well before the roadshow.
| # | Company | HQ | Latest round | Raised | Valuation | Lead backers |
|---|---|---|---|---|---|---|
| 1 | X.AI CORP.Artificial Intelligence | 🇺🇸 US | Equity InvestmentSep 2025 | $10.0B | $200.0B | — |
| 2 | AnthropicArtificial Intelligence | 🇺🇸 US | Series FSep 2025 | $13.0B | $183.0B | Iconiq, Fidelity Management & Research Company, Lightspeed Venture Partners |
| 3 | OpenAIArtificial Intelligence | 🇺🇸 US | Equity InvestmentJan 2025 | $25.0B | $157.0B | SoftBank |
| 4 | DatabricksData Analytics and AI | 🇺🇸 US | Equity FinancingFeb 2026 | $5.0B | $134.0B | Goldman Sachs, Glade Brook Capital, Morgan Stanley |
| 5 | WaymoAutonomous Vehicles | 🇺🇸 US | Series DJan 2026 | $16.0B | $110.0B | Alphabet, Dragoneer, Sequoia Capital |
| 6 | AndurilDefense Technology | 🇺🇸 US | Series HMay 2026 | $5.0B | $61.0B | Thrive Capital, Andreessen Horowitz |
| 7 | Cursor (Anysphere Inc.)Software Development / AI Tools | 🇺🇸 US | Series UnknownNov 2024 | $2.3B | $60.0B | Nvidia, Google |
| 8 | DeepSeekArtificial Intelligence | 🇨🇳 CN | Venture RoundMay 2025 | $7.0B | $52.0B | — |
| 9 | Figure Inc.Robotics and AI | 🇺🇸 US | Series CSep 2025 | $1.0B | $39.0B | Parkway Venture Capital, Brookfield Asset Management, NVIDIA |
| 10 | VAST DataAI Infrastructure | 🇺🇸 US | Series FApr 2026 | $1.0B | $30.0B | Drive Capital, Access Industries, Fidelity Management & Research Company |
| 11 | Scale AIArtificial Intelligence | 🇺🇸 US | Strategic InvestmentJun 2025 | $14.0B | $28.6B | Meta |
| 12 | CognitionArtificial Intelligence | 🇺🇸 US | Venture RoundMay 2026 | $1.0B | $26.0B | Lux Capital, General Catalyst, Founders Fund |
| 13 | RampFinancial Technology | 🇺🇸 US | Series E-2Jul 2025 | $500M | $22.5B | ICONIQ, Founders Fund, D1 Capital Partners |
| 14 | Kalshi Inc.technology | 🇺🇸 US | Series FMay 2026 | $1.0B | $22.0B | Coatue, Sequoia Capital, Andreessen Horowitz |
| 15 | Crypto.comCryptocurrency and financial services | — | Strategic InvestmentJul 2026 | $400M | $20.0B | Citadel Securities |
| 16 | HelsingDefense Technology | 🇸🇪 SE | Series EJul 2026 | $1.8B | $18.0B | JPMorgan Chase, Lightspeed Venture Partners, Iconiq |
| 17 | Fluidstack LtdAI Infrastructure | 🇺🇸 US | Venture RoundApr 2026 | $1.0B | $18.0B | — |
| 18 | AlteraSemiconductors | — | Strategic InvestmentApr 2025 | $8.8B | $17.5B | Silver Lake |
| 19 | Fireworks AISoftware | 🇺🇸 US | Series DJul 2026 | $1.5B | $17.5B | Atreides Management, Index Ventures, TCV |
| 20 | RipplingHR Technology / SaaS | 🇺🇸 US | Series GMay 2025 | $450M | $16.8B | Baillie Gifford, Elad Gil, Goldman Sachs Growth |
| 21 | Helion EnergyFusion Energy | 🇺🇸 US | Series GJun 2026 | $465M | $15.5B | Thrive Capital, Alta Park Capital, Anti Fund |
| 22 | Sierra Co LLCArtificial Intelligence | 🇺🇸 US | Venture RoundMay 2026 | $950M | $15.0B | Tiger Global, GV |
| 23 | Applied IntuitionDefense Technology / Autonomous Systems | 🇺🇸 US | Series FJun 2025 | $600M | $15.0B | BlackRock-managed funds and accounts, Kleiner Perkins, Franklin Templeton |
| 24 | NscaleAI Infrastructure | 🇬🇧 GB | Series CMar 2026 | $2.0B | $14.6B | Aker ASA, 8090 Industries, Astra Capital Management |
| 25 | Mistral AIArtificial Intelligence | 🇫🇷 FR | Venture RoundSep 2025 | $2.6B | $14.0B | — |
| 26 | Skild AIArtificial Intelligence / Robotics | 🇺🇸 US | Venture RoundJan 2026 | $1.4B | $14.0B | SoftBank Group, NVIDIA Ventures, Macquarie Capital |
| 27 | Eni CCUS HoldingOil & Gas | 🇮🇹 IT | Growth EquityMar 2025 | $3.2B | $13.1B | KKR |
| 28 | BasetenArtificial Intelligence | 🇺🇸 US | Venture RoundJun 2026 | $1.5B | $13.0B | Sands Capital, Wellington Management, Blackbird VC |
| 29 | Kraken TechnologiesEnergy Software / Utilities Technology | 🇬🇧 GB | Equity InvestmentDec 2025 | $1.0B | $13.0B | — |
| 30 | Shield AI IncArtificial Intelligence / Defense Technology | 🇺🇸 US | Series GMar 2026 | $2.0B | $12.7B | Advent International, Strategic Investment Group of JPMorgan Chase & Co’s Security and Resiliency Initiative |
| 31 | NinjaOneIT Software / Endpoint Management | 🇺🇸 US | Series CJun 2026 | $400M | $12.3B | Wellington Management, Teachers’ Venture Growth, Sequoia Capital |
| 32 | OpenEvidenceMedical AI / Clinical Decision Support | 🇺🇸 US | VentureJan 2026 | $700M | $12.0B | Thrive Capital, DST Global |
| 33 | CyeraData Security and AI Security | 🇺🇸 US | Venture RoundJun 2026 | $450M | $12.0B | Evolution Equity Partners |
| 34 | SambaNova SystemsArtificial Intelligence | 🇺🇸 US | Series FJul 2026 | $1.0B | $11.0B | General Atlantic, Seligman Ventures, T. Rowe Price |
| 35 | OuraWearable Health Technology | 🇫🇮 FI | Series EOct 2025 | $900M | $11.0B | Fidelity Management & Research Company, ICONIQ, Whale Rock |
| 36 | Eleven Labs Inc.Artificial Intelligence / Technology | 🇺🇸 US | Series DFeb 2026 | $500M | $11.0B | Sequoia Capital, Andreessen Horowitz (a16z), Iconiq |
| 37 | AirwallexFintech / Financial Services | 🇦🇺 AU | Series HJun 2026 | $320M | $11.0B | Addition, T. Rowe Price, Hummingbird |
| 38 | Bilt RewardsFinancial Services / Rewards Program | 🇺🇸 US | Series BJul 2025 | $250M | $10.8B | General Catalyst, GID, United Wholesale Mortgage |
| 39 | SupabaseSoftware Development | 🇺🇸 US | Series FJun 2026 | $500M | $10.5B | GIC, Stripe, Georgian |
| 40 | EtchedSemiconductors | 🇺🇸 US | Series CJul 2026 | $300M | $10.3B | Sequoia, a16z, Jane Street |
| 41 | WHOOPWearable Technology / Health & Fitness | 🇺🇸 US | Series GApr 2026 | $575M | $10.1B | Collaborative Fund, 2PointZero Group, Qatar Investment Authority (QIA) |
| 42 | QuinceE-commerce | 🇺🇸 US | Series EMar 2026 | $500M | $10.1B | ICONIQ, Basis Set Ventures, Wellington Management |
| 43 | CrusoeArtificial Intelligence / Cloud Computing | 🇺🇸 US | Series EOct 2025 | $1.4B | $10.0B | Valor Equity Partners, Mubadala Capital, 137 Ventures |
| 44 | GrammarlySoftware | 🇺🇸 US | Growth EquityMay 2025 | $1.0B | $10.0B | General Catalyst |
| 45 | MercorTechnology/AI | 🇺🇸 US | Series COct 2025 | $350M | $10.0B | Felicis Ventures, Benchmark, General Catalyst |
The prospect sweet spot. Large enough that an IPO is the logical next step, early enough that the IR relationship is still open. Most of these will test the public markets inside 12–24 months. Top 45 of 215 shown, ranked by valuation.
| # | Company | HQ | Latest round | Raised | Valuation | Lead backers |
|---|---|---|---|---|---|---|
| 46 | VercelTechnology / Cloud Infrastructure | 🇺🇸 US | Series FSep 2025 | $300M | $9.3B | Accel |
| 47 | Saronic TechnologiesMaritime Defense | 🇺🇸 US | Series DMar 2026 | $1.8B | $9.2B | Advent International, Bessemer Venture Partners, DFJ Growth |
| 48 | ReplitDeveloper Tools | 🇺🇸 US | Series DMar 2026 | $400M | $9.0B | Georgian, G Squared, Prysm Capital |
| 49 | WayveAutonomous Driving Technology | 🇬🇧 GB | Series DFeb 2026 | $1.2B | $8.6B | Eclipse, Balderton, SoftBank Vision Fund 2 |
| 50 | PolymarketPrediction Markets / Online Betting | 🇺🇸 US | Equity InvestmentOct 2025 | $2.0B | $8.0B | Intercontinental Exchange |
| 51 | Quantum SystemsDefense, Security, Unmanned Systems | — | Series DJul 2026 | $1.2B | $8.0B | Blackstone, Noteus, Airbus |
| 52 | ZiplineDrone logistics and healthcare delivery | 🇺🇸 US | Venture RoundJan 2026 | $600M | $7.6B | Fidelity Management & Research Company, Baillie Gifford, Valor Equity Partners |
| 53 | iCapitalFinancial Services | 🇺🇸 US | Equity FinancingJul 2025 | $820M | $7.5B | T. Rowe Price, SurgoCap Partners, State Street |
| 54 | GleanEnterprise Software | 🇺🇸 US | Series FJun 2025 | $150M | $7.2B | Wellington Management, Khosla Ventures, Bicycle Capital |
| 55 | ZeptoTechnology | 🇮🇳 IN | Equity RoundOct 2025 | $450M | $7.0B | CalPERS |
| 56 | CohereArtificial Intelligence | 🇺🇸 US | Series DAug 2025 | $500M | $6.8B | Radical Ventures, Inovia Capital, AMD Ventures |
| 57 | Peregrine Technologies— | 🇺🇸 US | Series DJun 2026 | $250M | $6.8B | Fifth Down Capital, Sequoia Capital, OG Venture Partners |
| 58 | ArmisCybersecurity | 🇺🇸 US | Growth EquityNov 2025 | $435M | $6.1B | Growth Equity at Goldman Sachs Alternatives, CapitalG, Evolution Equity Partners |
| 59 | HarkSoftware | 🇺🇸 US | Series AMay 2026 | $700M | $6.0B | Parkway Venture Capital, NVIDIA, Align Ventures |
| 60 | Firmus (Firmus Technologies)AI Infrastructure | 🇦🇺 AU | Venture RoundNov 2025 | $500M | $6.0B | — |
| 61 | NuroAutonomous Vehicles | 🇺🇸 US | Series EAug 2025 | $203M | $6.0B | Uber, Baillie Gifford, Icehouse Ventures |
| 62 | LegoraLegal Technology | — | Series DMar 2026 | $550M | $5.5B | Accel, Benchmark, Bessemer Venture Partners |
| 63 | HarnessDevOps, Software Development Tools, Cloud Infrastructure, AI | 🇺🇸 US | Series EDec 2025 | $240M | $5.5B | Goldman Sachs Alternatives, IVP, Menlo Ventures |
| 64 | SunoAI Music Generation | 🇺🇸 US | Series DJun 2026 | $400M | $5.4B | Bond Capital, IVP, Forerunner |
| 65 | MERCURY INCFintech | 🇺🇸 US | Series DMay 2026 | $200M | $5.2B | TCV, Andreessen Horowitz, Coatue |
| 66 | MetropolisSoftware | — | Series DNov 2025 | $1.6B | $5.0B | LionTree, J.P. Morgan |
| 67 | Safe Superintelligence Inc.Artificial Intelligence / Technology | 🇺🇸 US | Venture RoundSep 2024 | $1.0B | $5.0B | Andreessen Horowitz, Sequoia Capital, DST Global |
| 68 | ApptronikRobotics | 🇺🇸 US | Series AFeb 2026 | $520M | $5.0B | B Capital, Google |
| 69 | Banco PlataFinancial Services | MX | Series CApr 2026 | $405M | $5.0B | Bicycle Capital, Qatar Investment Authority (QIA), BTG Pactual |
| 70 | TemporalSoftware / Workflow Orchestration / AI Infrastructure | 🇺🇸 US | Series DFeb 2026 | $300M | $5.0B | Andreessen Horowitz, Lightspeed Venture Partners, Sapphire Ventures |
| 71 | DDNStorage Technology | 🇺🇸 US | Equity InvestmentJan 2025 | $300M | $5.0B | Blackstone Tactical Opportunities |
| 72 | LMAX GroupFinancial Services | — | Strategic InvestmentJan 2026 | $150M | $5.0B | Ripple |
| 73 | WhatnotE-commerce | 🇺🇸 US | Series EJan 2025 | $265M | $5.0B | Avra, DST Global, Greycroft |
| 74 | IslandSoftware | 🇺🇸 US | Series EMar 2025 | $250M | $4.8B | Coatue Management, Canapi Ventures, Capital One Ventures |
| 75 | ModalAI Infrastructure / Cloud Computing | 🇺🇸 US | Series CMay 2026 | $355M | $4.7B | Redpoint Ventures, General Catalyst, Accel |
| 76 | Chaos IndustriesDefense Technology | — | Series DNov 2025 | $510M | $4.5B | Valor Equity Partners, 8VC, Accel |
| 77 | DecagonArtificial Intelligence | 🇺🇸 US | Series DJan 2026 | $250M | $4.5B | Coatue Management, Index Ventures, ChemistryVC |
| 78 | AlanHealth Insurance and Wellness | 🇫🇷 FR | Series FSep 2024 | $216M | $4.5B | Belfius, Ontario Teachers’ Pension Plan, Temasek |
| 79 | LightmatterHealthcare Technology | — | Series DOct 2024 | $400M | $4.4B | T. Rowe Price Associates, Inc., Fidelity Management & Research Company, GV (Google Ventures) |
| 80 | Nexthop AIArtificial Intelligence | — | Series BMar 2026 | $500M | $4.2B | Lightspeed Venture Partners, Andreessen Horowitz, Altimeter |
| 81 | VantaGovernance, Risk, and Compliance (GRC) Software | 🇺🇸 US | Series DJul 2025 | $150M | $4.2B | Wellington Management, Sequoia, Goldman Sachs Alternatives |
| 82 | Luma AIArtificial Intelligence | 🇺🇸 US | Series CNov 2025 | $900M | $4.0B | Humain, AMD Ventures, Andreessen Horowitz |
| 83 | Ricursive IntelligenceArtificial Intelligence | 🇺🇸 US | Series AJan 2026 | $300M | $4.0B | Lightspeed Venture Partners, DST Global, NVentures |
| 84 | SynthesiaSoftware | 🇬🇧 GB | Series EJan 2026 | $200M | $4.0B | GV (Alphabet), Evantic, Hedosophia |
| 85 | ZetwerkManufacturing | 🇮🇳 IN | Venture RoundDec 2024 | $90M | $4.0B | Khosla Ventures, Rakesh Gangwal, Baillie Gifford |
| 86 | Chai, Inc.Biotechnology | 🇺🇸 US | Series CJul 2026 | $400M | $3.8B | Index Ventures, Kleiner Perkins, Sequoia Capital |
| 87 | 4DMedicalMedical Imaging Software | 🇦🇺 AU | Equity FinancingJan 2026 | $101M | $3.8B | — |
| 88 | OxylabsWeb Data Collection & Proxies | — | Growth EquityJul 2026 | $130M | $3.6B | Warburg Pincus |
| 89 | VultrCloud Computing / Technology | 🇺🇸 US | Equity InvestmentDec 2024 | $3.5B | $3.5B | LuminArx Capital Management, AMD Ventures |
| 90 | ChainguardCybersecurity | 🇺🇸 US | Series DApr 2025 | $356M | $3.5B | IVP, Kleiner Perkins, Salesforce Ventures |
…and 170 more $1B+ companies in the full MARS dataset, filterable by sector, geography, backer, and round recency.
Sector mix across the full 260-company shortlist.
Method. Drawn from MARS canonical funding data: private companies (no public ticker) that priced a late-stage round in the trailing 24 months at a post-money valuation of $1B or more. Excludes secondary sales, debt, grants, already-public issuers, and investment vehicles. Valuations are the disclosed post-money from the most recent qualifying round; only rounds passing MARS integrity checks (verified / vouched tier) are shown. A private valuation is a point-in-time signal, not a guarantee of an offering.
Prepared for internal + client discussion. Not investment advice. © MARS 2026.