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National Report: 88 Israeli-Founded Unicorns Now Have U.S. Headquarters

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The 88 companies have combined to create 61,858 direct jobs worldwide

MIAMI, April 26, 2023 /PRNewswire/ — The United States is now home to 88 privately held, Israeli-founded companies that have reached or surpassed a $1 billion valuation, according to the United States – Israel Business Alliance. Each of these unicorns has at least one Israeli founder and its global or regional headquarters in the United States. The total number of Israeli-founded unicorns marks a 10% jump from last May.  

Israeli-founded unicorn headquarters are now based in 11 states.

“The rising number of Israeli-founded unicorns in the United States is a testament to the strategic value that this market continues to offer Israeli entrepreneurs,” USIBA president Aaron Kaplowitz said. “In recent years, there’s been better product-market fit between Israeli technological solutions and American enterprise challenges.”

The 88 Israeli-founded unicorns are the most ever to operate concurrently in the United States, up from 80 last May. The 11 states with Israeli-founded unicorn headquarters – also a record – are: California (35)New York (30)Massachusetts (10), Illinois (3), New Jersey (3), Florida (2), Georgia (1), Minnesota (1), Oregon (1), Texas (1), and Washington (1).

“States are competing harder than ever for Israeli know-how,” Kaplowitz said. “Governors are well-aware that attracting Israeli tech companies can strengthen their respective state’s reputation as a tech hub, boost the local innovation ecosystem, and position their communities for economic growth.”

According to recent trends, Israeli founders are discovering more U.S. markets. In 2022, Israeli-founded unicorns headquartered in nine states. This year, Georgia and Minnesota joined the fray. Landa, a 3D printing innovator, has its U.S. headquarters in Atlanta. NextSilicon, a semiconductor processing company, relocated from Texas to Minneapolis.

Based on research and analysis, USIBA estimates that these 88 unicorns have combined to create 61,858 direct jobs worldwide. The average number of direct jobs created worldwide by each company is 703. Armis, a cybersecurity unicorn based in San Francisco, is the largest employer, with some 5,000 direct jobs created.

The estimated total valuation for all 88 unicorns amounts to $233.7 billion. That puts the average value for these Israeli-founded unicorns at $2.66 billion, down from a $2.79 billion average last May. Rapyd, located in California, remains at the top of the list with a $15 billion valuation, followed by Deel ($12 billion), Gusto ($10 billion), Wiz ($10 billion), and Navan ($9.2 billion).

The Israeli-founded unicorn cohort in the U.S. has not been immune to the global economic downturn. Investments have slowed dramatically and many of the companies have announced layoffs in recent months. Liquidity Group, headquartered in Manhattan, is the only Israeli-founded unicorn in the U.S. to cross the billion-dollar threshold so far in 2023. By way of comparison, 14 current Israeli-founded unicorns achieved their billion-dollar or greater valuation in 2020; 38 reached the milestone in 2021; and 21 did so in 2022.

Israeli-Founded Unicorns Based in the United States

Company

State

Valuation

Jobs Created

Solution

AppsFlyer

CA

$2,000,000,000

1,640

Mobile marketing analytics

Aqua Security

MA

$1,000,000,000

632

Cloud native security

Armis

CA

$3,500,000,000

5,000

Agentless device security

At-Bay

CA

$1,350,000,000

287

Cyber insurance

Augury

NY

$1,000,000,000

402

Machine health diagnostics

Axonius

NY

$2,600,000,000

700

Cybersecurity asset management

BigID

NY

$1,200,000,000

551

Data privacy & protection

BigPanda

CA

$1,200,000,000

345

IT software solution

Bringg

IL

$1,000,000,000

310

Delivery logistics

Capitolis

NY

$1,600,000,000

143

Tech for global capital markets

Cato Networks

CA

$2,500,000,000

696

SaaS platform

Cheq

NY

$1,000,000,000

292

Go-to-market security

Claroty

NY

$1,950,000,000

480

Industrial cybersecurity

Cloudinary

CA

$2,000,000,000

484

Media experience platform

Cybereason

MA

$400,000,000

1,250

Cyber detection & response

Deel

CA

$12,000,000,000

2,464

Payroll and compliance

Dremio

CA

$2,000,000,000

371

Big data curation

DriveNets

NJ

$2,500,000,000

371

Telecommunications service provider

Earnix

MA

$1,100,000,000

341

Critical systems for banks & insurers

eToro

NJ

$3,500,000,000

2,357

Social trading and multi-asset brokerage

Exabeam

CA

$2,400,000,000

724

Security automation

Fabric

NY

$1,000,000,000

485

Micro-fulfillment tech

Fireblocks

NY

$8,000,000,000

570

Digital assets platform

Firebolt

CA

$1,400,000,000

154

Data warehousing

Flow

FL

$1,000,000,000

62

Residential real estate

Formlabs

MA

$2,000,000,000

861

3D printing & manufacturing

Forter

NY

$3,000,000,000

627

Fraud detection for retailers

Fundbox

CA

$1,100,000,000

275

Cash flow optimization

Gong

CA

$7,250,000,000

1,458

Revenue intelligence

Gusto

CA

$10,000,000,000

2,424

Payroll, benefits, and HR

Hailo

CA

$1,100,000,000

217

AI chipmaker

Hibob

NY

$2,450,000,000

738

HR tech

HoneyBook

CA

$2,500,000,000

200

Workflow platform

Houzz

CA

$4,000,000,000

1,664

Home design and decorating

Immunai

NY

$1,000,000,000

139

Hi-Res profiling of immune system

Infinidat

MA

$1,600,000,000

485

Data storage

Insightec

FL

$1,600,000,000

419

Focused ultrasound equipment

Island

TX

$1,300,000,000

182

Secure browser for enterprise

K Health

NY

$1,500,000,000

397

Telemedicine

Landa

GA

$1,800,000,000

433

Digital printing & nanotech

Lightricks

IL

$1,800,000,000

564

Video & Image editing apps

Liquidity Group

NY

$1,400,000,000

111

Late-stage financing

Lusha

MA

$1,500,000,000

319

B2B sales & marketing

Melio

NY

$4,000,000,000

606

Accounts payable tool

Minute Media

NY

$1,000,000,000

372

Digital platform and content

Monte Carlo

CA

$1,600,000,000

199

Data monitoring

Navan

CA

$9,200,000,000

3,000

Corporate travel management

NEXT Insurance

CA

$4,000,000,000

800

Insurance for small businesses

NextSilicon

MN

$1,500,000,000

203

Semiconductor processing

Noname Security

CA

$1,000,000,000

386

API security

Oosto

NY

$1,000,000,000

157

Facial recognition

OpenWeb

NY

$1,500,000,000

330

Online community engagement

Optibus

NY

$1,300,000,000

381

Mass transit operations platform

Orca Security

OR

$1,800,000,000

462

Cybersecurity for cloud

OrCam

NY

$1,000,000,000

294

Device for visually impaired

OwnBackup

NJ

$3,350,000,000

850

Data management & analytics

Papaya Global

NY

$3,700,000,000

767

Workforce management

Pentera

MA

$1,000,000,000

262

Cyber penetration tests

Perimeter 81

NY

$1,000,000,000

250

Network security

Placer.ai

CA

$1,000,000,000

598

Foot traffic analytics

RapidAPI

CA

$1,000,000,000

115

API marketplace

Rapyd

CA

$15,000,000,000

850

Payments platform

Redis Labs

CA

$2,000,000,000

891

Database management

Salt Security

CA

$1,500,000,000

204

API security

Sisense

NY

$1,000,000,000

732

Business analytics

Snyk

MA

$7,400,000,000

1,065

Platform for securing code

SpotOn

CA

$3,600,000,000

2,526

Restaurant & retail payment

StoreDot

CA

$1,500,000,000

128

Advanced batteries

Sunbit

CA

$1,100,000,000

480

Buy now, pay later

Tanium

WA

$9,000,000,000

1,953

Endpoint management & protection

Tipalti

CA

$8,300,000,000

1,024

Accounts payable

Transmit Security

MA

$2,700,000,000

379

Passwordless authentication

TravelPerk

MA

$1,300,000,000

1,151

Business travel platform

Trax

CA

$2,250,000,000

824

Retail analytics

Tripledot Studios

CA

$1,400,000,000

400

Mobile games studio

Unit

NY

$1,200,000,000

159

Financial services platform

Vast Data

NY

$3,700,000,000

500

Storage software

Vayyar Imaging

IL

$1,000,000,000

330

4D imaging radar sensors

Veev

CA

$1,000,000,000

255

Home-building tech

Veho

NY

$1,500,000,000

547

Last mile delivery

Verbit

NY

$2,000,000,000

1,000

Transcription & caption platform

Vesttoo

NY

$1,000,000,000

135

Insurance risk transfer platform

Via

NY

$3,500,000,000

1,200

On-demand transit & software

Visby Medical

CA

$1,100,000,000

249

PCR-based diagnostics

Viz.ai

CA

$1,200,000,000

403

AI disease detection & care

Wiliot

CA

$1,000,000,000

165

IoT Platform

Wiz

NY

$10,000,000,000

833

Cybersecurity for cloud

Yotpo

NY

$1,400,000,000

819

E-commerce marketing

 

Cybereason, a Boston-based cyber detection and response company, recently took in a $100 million investment from SoftBank, based on an estimated $400 million valuation – down from a $2.8 billion valuation it notched in 2021. In July, New Jersey-based cryptocurrency lender Celsius Network filed for Chapter 11 bankruptcy amid the industry’s extreme volatility. According to USIBA research, in accordance with lower valuations that have spread across the global tech economy, roughly 55 percent of the U.S.-based Israeli-founded unicorns could raise at a $1 billion or greater valuation today.

“The days of unicorn valuations derived from overly generous revenue multiples are behind us,” Kaplowitz said. “Amid recession concerns, investors are returning to pre-pandemic standards, considering annual recurring revenue numbers more carefully, and investing in companies that have proven they can execute.”

According to Kaplowitz, while the global economic uncertainty does shed light on the dearth of newly minted Israeli-founded unicorns in 2023, it also helps explain why there are so many total unicorns at one time.

“Late-stage companies are no longer rushing to claim stock tickers,” Kaplowitz said. “They would rather optimize efficiencies and go public when the market environment is more favorable.”

Indeed, from USIBA’s inaugural national unicorn report, published last May, only two Israeli-founded unicorns with U.S. headquarters – Selina and Pagaya – have gone public.

Since last April, the U.S. has added 15 Israeli-founded unicorns. Each of these companies either reached the billion-dollar valuation milestone or had already achieved unicorn status abroad and established a U.S. headquarters.

The companies’ valuations and direct jobs creation figures mentioned in this report are estimates based on data resources, publicly available information, and conversations with executives and industry analysts. The estimates do not necessarily reflect the most current values.

About the United States – Israel Business Alliance The mission of the United States – Israel Business Alliance is to strengthen the economic relationship between individual states and Israel. Learn more about the impact Israeli-founded companies are having on local communities at www.usisrael.co.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/national-report-88-israeli-founded-unicorns-now-have-us-headquarters-301808161.html

SOURCE United States – Israel Business Alliance



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