Tech unicorns are becoming more and more common with several dozen minted every year. However, for companies hitting or exceeding a $1 billion valuation, this is a milestone worth celebrating. This notable valuation reinstills confidence in a company’s product and tech and secures them as a tech unicorn.
These four Seattle tech companies hit or exceeded a $1 billion valuation in 2022 and secured the coveted unicorn status. (Want to know which local companies became tech unicorns last year? Read more here.)
Over $1B Valuation as of July
Flexe is Seattle’s newest tech unicorn. In early July, the company closed a $119 million Series D round that pushed the company over the $1 billion valuation. Flexe is a logistics tech company with B2B distribution, warehousing, inventory and e-commerce fulfillment services aimed at helping companies improve their supply chains. Many of its services are used by enterprise-level customers including several of the largest retailers.
$1.5B Valuation as of February
E-commerce platform fabric secured tech unicorn status back in February when it closed a $140 million Series C round, pushing its valuation to $1.5 billion. The Seattle-based startup creates APIs for companies looking to revamp their digital storefronts. With the funding, fabric was looking to develop new products that would improve its platform and customer experience.
$1.5B Valuation as of February
Also in February, Temporal secured unicorn status with a $1.5 billion valuation when it raised $103 million in a Series B round. The company launched in 2019 by two former Amazon engineers and has helped several large companies like Snap and Dropbox rework their database structures. Prior to the Series B round, Temporal had raised $25.5 million in venture funding.
$1.2B Valuation as of January
SeekOut was the first Seattle company to become a tech unicorn 2022. In January, the recruiting platform closed a $115 million round at a $1.2 billion valuation. SeekOut’s platform helps large companies recruit talent and also reduces racial hiring bias during the process. After it secured unicorn status, SeekOut announced it would be making several executive appointments to advance the company.
