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Andrew Dunn
Updated
2020-01-22T19:39:00Z
- CB Insights compiled a list of artificial intelligence companies that have reached a valuation of at least $1 billion, including several businesses that surpassed that mark in 2019.
- These AI unicorns are using the technology across industries like cybersecurity, transportation, healthcare, agriculture, retail and finance.
- The AI industry saw record-high funding levels in 2019, with total deal value exceeding $26 billion, according to a CB Insights report released Wednesday.
- Read the full list of all 46 companies which includes Babylon Health, Dataminr, Argo AI, and ByteDance.
- Click here for more BI Prime stories.
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Funding for artificial intelligence startups surpassed record-high levels in 2019, with more than 2,200 deals totaling nearly $27 billion, CB Insights found in a report released Wednesday.
Those funding levels are up about 20% from a year ago, and an increase of more than 500% over the past five years as the AI space has exploded.
Last year also brought a historic number of exits for these private companies, with the firm tracking 231 M&A deals and 10 initial public offerings. And other AI startups are just arriving, with 24 surpassing a $1 billion valuation in 2019, the analysis found.
The research group alsocompiled a list of every AI company that has reached so-called unicorn status. CB Insights included companies focused on AI-related algorithms, hardware, software-as-a-service or consultancies.
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Read more: One sector has emerged as the hottest area for AI investment. A top investor at Andreessen Horowitz told us why it's the 'natural next step' for the industry.
Take a look at all 46 private AI unicorns, spanning the business world from transportation to healthcare to agriculture. The list also includes the year they were founded some of the their most prominent backers.
This article was originally published on August 8, 2019. It has been updated. Clarrie Feinstein contributed to an earlier version of this article.
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iCarbonX - $1 billion
What it does: An AI platform that facilitates research related to the treatment of diseases, preventive care and nutrition, and is used to develop personalized medicine.
Where it's based: China
Year founded: 2015
Key investors: China Bridge Capital, Tencent Holdings, Vcanbio
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Icertis - $1 billion
What it does: It provides cloud-based contract lifecycle management services to other companies.
Where it's based: US
Year founded: 2009
Key investors: Eight Roads Ventures, Greycroft, Ignition Partners
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DataRobot - $1 billion
What it does: Works with organizations to help them use AI with its enterprise machine learning platform.
Where it's based: US
Year founded: 2012
Key investors: New Enterprise Associates, Accomplice, IA Ventures
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Lightricks - $1 billion
What it does: Lightricks sells subscriptions to Facetune and Enlight, content creation apps that use AI to fine-tune selfies.
Where it's based: Israel
Year founded: 2013
Key investors: Viola Ventures, Insight Partners, ClalTech, Goldman Sachs
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Scale AI - $1 billion
What it does: The company helps develop AI applications by turning raw information into the human-labeled training data.
Where it's based: US
Year founded: 2016
Key investors: Accel, Y Combinator, Index Ventures
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Anduril - $1 billion
What it does: Its border control technology, including towers and cameras, uses AI to track movement
Where it's based: US
Year founded: 2017
Key investors: Andreessen Horowitz, Founders Fund, Revolution Ventures
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Faire - $1 billion
What it does: Its free platform lets retailers find and A/B test new products for their stores.
Where it's based: US
Year founded: 2017
Key investors: Khosla Ventures, Forerunner Ventures, Sequoia Capital
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Intellifusion - $1 billion
What it does: The company offers facial recognition technology and is accelerating visual recognition in IP cameras, robots and cloud.
Where it's based: China
Year founded: 2014
Key investors: BOC International, TopoScend Capital, Hongxiu VC
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Globality - $1 billion
What it does: The company is a marketplace for business services, and can help link large companies with small and midsize service providers.
Where it's based: US
Year founded: 2015
Key investors: SoftBank Group
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Momenta - $1 billion
What it does: The company develops driving technology for self-driving cars.
Where it's based: China
Year founded: 2016
Key investors: Sinovation Ventures, Tencent Holdings, Sequoia Capital China
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Meero - $1 billion
What it does: A platform for photography that uses AI to enhance images.
Where it's based: France
Year founded: 2016
Key investors: Aglae Ventures, Global Founders Capital, Alven Capital
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OrCam Technologies - $1 billion
What it does: The company created an eyeglasses device that can read words to people who can't see.
Where it's based: Israel
Year founded: 2010
Key investors: Intel Capital, Aviv Venture Capital
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SoundHound - $1 billion
What it does:The company specializes in using AI technology to understand sounds. It offers an app that can identify music when a user hums or sings a melody into their phone.
Where it's based:US
Year founded:2005
Key investors: Tencent Holdings, Walden Venture Capital, Global Catalyst Partnera
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TuSimple - $1 billion
What it does: The company uses AI technology to make trucking safer and more efficient, by introducing self-driving trucks.
Where it's based: US
Year founded: 2015
Key investors: Sina Weibo Fund, Zhiping Capital, Composite Capital Partners
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ZipRecruiter - $1 billion
What it does: The company runs an online jobs marketplace which uses some AI technology.
Where it's based: US
Year founded: 2010
Key investors: Basepoint Ventures,Industry Ventures, and Institutional Venture Partners
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Coveo - $1.1 billion
What it does:Improving search and recommendaitons with its cloud-based, AI-powered technology.
Where it's based: Canada
Year founded: 2005
Key investors: Fonds de Solidarite FTQ, Propulsion Ventures, BDC Venture Capital
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Outreach - $1.1 billion
What it does: The company offers a sales engagement platform that aims to improve customer interactions.
Where it's based: US
Year founded: 2014
Key investors: Mayfield Fund, M12, Trinity Ventures
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Unisound - $1.2 billion
What it does: The company offers speech recognition technology for devices like wearables, navigation tools, and smart appliances.
Where it's based: China
Year founded: 2012
Key investors: Qiming Venture Partners, China Internet Investment Fund, Qualcomm Ventures
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4Paradigm - $1.2 billion
What it does: The company provides AI technology and services, helping financial firms detect fraud, reduce risk, and improve efficacy.
Where it's based: China
Year founded: 2014
Key investors: Sequoia Capital China, China Construction Bank, Bank of China
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Infi - $1.25 billion
What it does: Its EmpathAI platform builds predictive algorithms with machine learning, offering insights into people's traits, feelings and motivations.
Where it's based: Israel
Year founded: 2013
Key investors: Pacific Century Group
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Butterfly Network - $1.25 billion
What it does: The company created a handheld ultrasound scanner called the Butterfly iQ.
Where it's based: US
Year founded: 2011
Key investors: Bill & Melinda Gates Foundation, Aeris Capital
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Trax - $1.3 billion
What it does: Uses computer vision to work with retail companies to boost how their products look and perform on the shelf.
Where it's based: Singapore
Year founded: 2010
Key investors: Hopu Investment Management, Boyu Capital, DC Thomson Ventures
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C3.ai - $1.4 billion
What it does: The company provides AI software for functions like fraud detection, supply network optimization, and energy management.
Where it's based: US
Year founded: 2009
Key investors: Makena Capital Management, TPG Growth, Breyer Capital
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Dataminr - $1.6 billion
What it does: The company provides alerts about important or breaking news and events in real time.
Where it's based: US
Year founded: 2009
Key investors: Venrock, Institutional Venture Partners, Goldman Sachs
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Darktrace - $1.65 billion
What it does: Darktrace helps defend companies against cyberattacks.
Where it's based: UK
Year founded: 2013
Key investors: KKR, Ten Eleven Ventures, Summit Partners
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XANT - $1.7 billion
What it does:Previously known as InsideSales.com until November 2019, the company sells services to boost sales, marketing and account performance teams.
Where it's based: US
Year founded: 2004
Key investors: Microsoft Ventures, US Venture Partners, Kleiner Perkins Caufield & Byers
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Pony.ai - $1.7 billion
What it does: The company is building technology to create self-driving vehicles.
Where it's based: US
Year founded: 2016
Key investors: Sequoia Capital China, IDG Capital, DCM Ventures
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Graphcore - $1.7 billion
What it does: The company created a chip and software to help power AI technology.
Where it's based: UK
Year founded: 2016
Key investors: Dell Technologies Capital, Pitango Venture Capital, Amadeus Capital Partners
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Afiniti - $1.8 billion
What it does: The company has developed AI for customer call centers that can match customers with agents based on behavioral patterns.
Where it's based: US
Year founded: 2006
Key investors: GAM Holding
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Babylon Health - $2 billion
What it does: The digital healthcare company connects patients and doctors within minutes with video consultations, phone calls and texts.
Where it's based: United Kingdom
Year founded: 2013
Key investors: Kinnevik, Vostok New Ventures, Public Investment Fund of Saudi Arabia
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Avant - $2 billion
What it does: Using advanced algorithms and machine-learning, the company offers a customized approach to help online banking customers borrow money.
Where it's based: US
Year founded: 2012
Key investors: RRE Ventures, Tiger Global, August Capital
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Preferred Networks - $2 billion
What it does: The software development company applies real-time machine learning technologies to transportation, manufacturing, and biotech and healthcare.
Where it's based: Japan
Year founded: 2014
Key investors: Toyota Motor Corporation, Mizuho Financial Group, FANUC
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Cambricon - $2 billion
What it does: The company has developed a processor chip that simulates human nerve cells and brain processing to conduct deep learning.
Where it's based: China
Year founded: 2016
Key investors: Alibaba Entrepreneurs Fund, CAS Investment Management Co., Lenovo Ventures Group
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BenevolentAI - $2.1 billion
What it does: The company is an advanced AI technology platform that synthesizes and extracts important data from complex scientific data sets to help find potential new medical treatments.
Where it's based: UK
Year founded: 2013
Key investors: Woodford Investment Management
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Uptake Technologies - $2.3 billion
What it does: The company provides predictive analytic software that collects and interprets sensor data for clients from industries like mining, rail, energy, aviation, retail, and construction.
Where it's based: US
Year founded: 2014
Key investors: Revolution, New Enterprise Associates, Caterpillar
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YITU Technology - $2.4 billion
What it does: The company works on areas including computer vision, voice and face recognition, reasoning, and robotics.
Where it's based: China
Year founded: 2012
Key investors: Sequoia Capital China, Banyan Capital
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Horizon Robotics - $3 billion
What it does: The company offers AI technology that can analyze traffic patterns and road conditions and is also working on technology for cars.
Where it's based: China
Year founded: 2015
Key investors: Hillhouse Capital Management, Linear Venture, Morningside Venture Capital
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Zoox - $3.2 billion
What it does: The company is working on self-driving vehicles.
Where it's based: US
Year founded: 2014
Key investors: AID Partners, Draper Fisher Jurvetson
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CloudWalk - $3.3 billion
What it does: The company provides a payment network that processes transactions from credit and debit cards and other payment products.
Where it's based: US
Year founded: 2013
Key investors: Oriza Holdings, Guangdong Technology Financial Group
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Indigo Agriculture - $3.5 billion
What it does: The agricultural company uses microbiology and other technology to improve the growth of crops like cotton, wheat, corn, soybeans, and rice.
Where it's based: US
Year founded: 2016
Key investors:Activant Capital Group, Alaska Permanent Fund, Baillie Gifford & Co.
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Face++ - $4 billion
What it does: The company offers facial recognition technology to clients in government, retail and other sectors.
Where it's based: China
Year founded: 2011
Key investors: Ant Financial Services Group, Russia-China Investment Fund, Foxconn Technology Company
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UiPath - $6.4 billion
What it does: The company provides a software platform to help organizations automate business processes. It is used in industries like healthcare, finance, and human resources.
Where it's based: United States
Year founded: 2005
Key investors: Accel, capitalG, Earlybrid Venture Capital, Seedcamp
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Automation Anywhere - $6.8 billion
What it does: The company helps businesses automate key tasks like data collection and entry.
Where it's based: US
Year founded: 2003
Key investors:General Atlantic, Goldman Sachs, New Enterprise Associates
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Argo AI - $7 billion
What it does: The AI company is developing machine-learning software for self-driving cars.
Where it's based: US
Year founded: 2016
Key investors: Volkswagen Group, Ford Autonomous Vehicles
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SenseTime - $7.5 billion
What it does: The company offers AI technologies in areas ranging from image recognition to autonomous driving. It says its tech can be used in smart cities, mobile phones, online entertainment, and retail.
Where it's based: China
Year founded: 2014
Key investors: Star VC, IDG Capital, Infore Capital, Alibaba Group
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ByteDance - $75 billion
What it does: The company provides online creative content platforms. The company's most well known platform is TikTok, an app allowing users to share short videos.
Where it's based: China
Year founded: 2012
Key investors: Sequoia Capital China, SIG Asia Investments, Sina Weibo, Softbank Group
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