The Cream of the Venture Crop: 472 Companies with $100M Plus Valuations

Call them the cream of the venture crop, the 472 high-flying U.S.-based technology companies with valuations above $100 million and exciting businesses to justify them.

They are a diverse lot, with names such as Square, Airbnb, Dropbox, Pinterest, Twitter, Box, Etsy, Eventbrite, Palantir, Evernote and Fab.

And they are largely funded by venture capitalists, including big name investors Sequoia Capital and Intel Capital, but not exclusively. Almost 20% have taken money from traditional private equity shops during expansion rounds and private transactions, including Blackboard and Sabre Holdings.

They also are the subjects of a new study by CB Insights, which found that  together they have raised $40 billion and appear well down the path to IPOs if they make good on their promise. The CB Insights study discovered that some have just crossed the threshold into the high valuation club while others are worth billions of dollars, including Palantir, SurveyMonkey and Coupons.com.

Eighty percent target their products and services at businesses and 50% are Internet companies. Less than 20% follow a B2C business model, the study found. In all, 34 of the upstarts hope to make a living at e-commerce and another 32 play in ad-tech. Twenty-six call telecom services their sweet spot.

Perhaps most interesting is who has funded them. At the top of the list are Sequoia and Intel, both with 35 companies. New Enterprise Associates has 34, and Accel Partners put money into 32, the CB Insights study shows.

Next on the list is Kleiner Perkins Caufield & Byers, with 31; DAG Ventures, 25; Goldman Sachs, 23; Greylock Partners, 22; and Benchmark Capital, Menlo Ventures and Institutional Venture Partners, each with 21.

The average funding per company is $84.7 million and the median money raised per company is $75.8 million. Almost 50% call California home. New York and Massachusetts are in a close battle for second place, with New York ahead by one company, 41 to 40. Texas and Washington state complete the top five with Florida trailing close behind.

Photo courtesy of Shutterstock.

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6 Comments

  • I’m curious how sustainable these valuations are. Thoughts?

  • [...] many times we look for needles in haystacks.  What about the haystacks?  Here are companies with 100+M [...]

  • Mark, where can I find this list?
    Thanks.

  • There is a link in the story to the Web site where the study can be purchased. They want to charge for the list.

  • Mark, this is a very interesting post! I would like to know if the valuations are based upon initial funding, or if they are appraised values.

    I thought that I would post this link to temper the optimism of the valuations.

    http://online.wsj.com/article/SB10000872396390443720204578004980476429190.html

  • Sorry to be so slow in getting back. Placing a valuation on a private company is both an art and a science. Typically a new financing round is used to reset valuations. So a new investor coming in at a higher share price would lift a company’s value. Without a new financing, adjusting a company’s value to respond to a sharp fall in public stock prices, for instance, is a bit more nebulous. To answer your question, I’m sure investors are using a variety of methods to value their companies. We outsiders don’t know which are best grounded in reality.

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