March delivered a strong boost to the global startup ecosystem, with $200 billion in value added to existing unicorns and 11 fresh startups joining the unicorn club. These new additions brought in an estimated $16 billion in new value, while the month also saw major exits through IPOs and acquisitions—adding momentum to what’s been a quieter venture market overall.
Strong Exits Signal Investor Confidence
Seven unicorns exited the board in March, collectively worth around $48 billion at the time of their exit. Among the most notable was CoreWeave, a New Jersey-based AI data center provider. Valued at $23 billion privately, CoreWeave went public at roughly the same valuation, marking a high-profile debut in the infrastructure AI space.
Meanwhile, China’s Mixuebingcheng, a fast-growing beverage chain brand, also made its public market entrance at a $9.8 billion valuation—more than triple its last private valuation of just over $3 billion.
M&A activity was just as heated. Google made waves by acquiring cybersecurity leader Wiz for $32 billion, marking the largest-ever acquisition of a private tech company. Other major deals included:
- Moveworks, a task automation firm, acquired by ServiceNow for $2.9 billion
- Next Insurance, picked up by Ergo Group for $2.6 billion
- Weights & Biases, bought by CoreWeave for $1.8 billion ahead of its IPO
- Saxo Bank, sold to J. Safra Sarasin for $1.2 billion
These exits reflect continued interest in high-performing unicorns, even in a cautious market.
Massive Valuation Jumps: OpenAI and Anthropic Lead the Pack
In addition to the exits, existing unicorns added massive value through up rounds. OpenAI stole headlines with a new $300 billion valuation in a round led by SoftBank, nearly doubling its previous $157 billion valuation from October 2024. This alone added $143 billion in value to the board.
Anthropic followed closely, climbing to $61.5 billion in a Lightspeed-led round, up from $18.4 billion just a few months ago. Together, these AI giants contributed $186 billion in fresh value—underscoring the sector’s outsized impact.
Other valuation climbs included:
- Flock Safety: Now at $7.2 billion after a round led by Andreessen Horowitz (up from $4 billion in 2022)
- Shield AI: Gained $2.5 billion in valuation over the past year
- Cognition: Added $2 billion in under 12 months
Meet the 11 Startups That Became Unicorns in March
Nine of the month’s new unicorns are U.S.-based, with one each from Mexico and Hong Kong. The group spans a wide mix of industries, from fintech and AI to robotics and web3. Four companies—Nerdio, Fleetio, Celestial AI, and Insilico Medicine—have already raised over $500 million in total funding.
Here’s a look at the newest unicorns by sector:
Financial Services
- Plata (Mexico): This digital bank raised $160 million in a Series A led by Kora, reaching a $1.5 billion valuation shortly after securing its banking license in late 2024.
- Assured Insurance Technologies (Palo Alto): An insurtech startup now valued at $1 billion following its latest growth-stage funding.
AI Infrastructure
- Celestial AI (Santa Clara): Specializing in optical interconnects for AI data center chips, it raised $250 million in a Fidelity-led Series C, pushing its value to $2.5 billion.
Govtech
- Peregrine Technologies (San Francisco): A platform supporting crime prevention and disaster response for local governments, Peregrine reached a $2.5 billion valuation in a $190 million Sequoia-led round.
Robotics
- The Bot Co. (San Francisco): A robotics startup for household tasks—still pre-product—raised $150 million from Greenoaks, hitting a $2 billion valuation just one year after launch.
Logistics
- Fleetio (Alabama): Raised $450 million in a Series D round to acquire Auto Integrate and offer full-service fleet maintenance. Valued at $1.5 billion.
Media & Entertainment
- Underdog Fantasy (New York): A sports gaming platform that hit a $1.3 billion valuation in a $70 million Series C led by Spark Capital.
Cloud Services
- Nerdio (Chicago): Offers remote IT management for Microsoft environments. Reached a $1.2 billion valuation after a $500 million round led by General Atlantic.
SaaS
- BuildOps (Santa Monica): This contractor-focused workflow automation startup raised $127 million and joined the unicorn club at a $1 billion valuation.
Web3
- Endless (Hong Kong): Helps Web2 companies transition to Web3, with a $110 million round led by Foresight Ventures bringing its value to $1 billion.
Healthcare
- Insilico Medicine (Massachusetts): An AI-powered drug discovery firm focused on cancer and aging, now valued at $1 billion after a $110 million Series E.
March’s activity shows the unicorn club is still growing—especially in sectors like AI, govtech, and fintech—even amid continued market caution.
