Nearly half of America’s 857 unicorn startups haven’t raised fresh funding in three years, PitchBook data shows.
Startups that last raised in 2021 are worth 68% less on average, PitchBook found, while those that last raised in 2022 have seen their valuations decline 52%.
More than 220 companies that once hit billion-dollar valuations are now considered “fallen unicorns” — including Glossier, Savage X Fenty, AG1 and The Farmer’s Dog, according to PitchBook, which provided a list of the companies exclusively to CNBC.