Where Are The 2021 Unicorns Today? 60% Are Stuck In Limbo, Per Carta
SaaStr
MARCH 1, 2025
So there’s an uncomfortable truth that VCs don’t discuss outloud that often, but everyone has sort of accepted. Everyone resisted in 2022 and into 2023, but by 2024 they began to capitulate. That a lot of unicorns that hit $1B+ valuations in 2020-2021 … probably aren’t really unicorns anymore. How many? Over 60% haven’t raised funding since 2021 and likely never achieved the scale to do so, or have seen growth slow: Per Carta, a , : 374 of the original 616 pool ha
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