Some Unicorns Are In A Funding Drought, And Black-Founded Startups Lose Ground

Discusses trends in venture funding, focusing on unicorns, Black-founded startups, construction robotics, tech layoffs, celebrity crypto investments, and the media/entertainment/gaming industry.

March 2, 2024 A Growing List Of Unicorns Haven’t Raised Funding For 3-Plus Years Using Crunchbase data, we identified a sample set of 28 private companies that have a peak valuation of $1 billion or more but haven’t raised a round for years. Mos

March 2, 2024 8:00 AM

newsletter@email.crunchbase.com

Some Unicorns Are In A Funding Drought, And Black-Founded Startups Lose Ground

Discusses trends in venture funding, focusing on unicorns, Black-founded startups, construction robotics, tech layoffs, celebrity crypto investments, and the media/entertainment/gaming industry.

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width:300px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:0px solid transparent; padding:5px 0px 5px 0px"><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:13px; line-height:1.2; word-break:break-word; text-align:right; margin:0"><span style="line-height:inherit; color:#000000; font-size:13px"><strong style="line-height:inherit">March 2, 2024</strong></span></p></div></div></div></div></div></div></div></div><div style="line-height:inherit; background-color:transparent"><div class="block-grid " style="line-height:inherit; min-width:320px; max-width:600px; word-wrap:break-word; word-break:break-word; margin:0 auto; background-color:transparent"><div style="line-height:inherit; border-collapse:collapse; display:table; width:100%; background-color:transparent"><div class="col num12" style="line-height:inherit; min-width:320px; max-width:600px; display:table-cell; vertical-align:top; width:600px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:00px solid #000000; padding:0px"><div align="center" class="img-container center autowidth" style="line-height:inherit; padding-right:0px; padding-left:0px"><a href="#" rel="noopener" tabindex="-1" target="_blank" style="line-height:inherit; outline:none"><img align="center" alt="1" border="0" class="center autowidth" src="https://news.crunchbase.com/wp-content/uploads/quarterly-no-banner-1.jpg" title="1" width="600" style="line-height:inherit; text-decoration:none; height:auto; border:0; width:100%; max-width:600px; display:block"></a> </div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:30px 20px 20px 20px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="line-height:1.2; word-break:break-word; margin:0"><strong style="line-height:inherit"><span style="line-height:inherit; font-size:24px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; color:#0f66ff">A Growing List Of Unicorns Haven’t Raised Funding For 3-Plus Years</a></span></strong></p></div></div><div style="color:#000000; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px 20px 20px 20px"><div style="line-height:1.2; font-size:12px; color:#000000; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:16px; line-height:1.2; word-break:break-word; margin:0"><span style="line-height:inherit; font-size:16px">Using Crunchbase data, we identified a sample set of 28 private companies that have a peak valuation of $1 billion or more but haven’t raised a round for years. Most closed their last round between three and four years ago.</span></p></div></div><div align="left" class="button-container" style="line-height:inherit; padding:10px 20px 40px 20px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; display:inline-block; color:#ffffff; background-color:#408bcb; border-radius:4px; -webkit-border-radius:4px; -moz-border-radius:4px; width:auto; padding-top:5px; padding-bottom:5px; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; text-align:center; word-break:keep-all; border:1px solid #408bcb"><span style="line-height:inherit; padding-left:20px; padding-right:20px; font-size:16px; display:inline-block"><span style="font-size:16px; line-height:2; word-break:break-word">Unicorn Funding Drought →</span></span></a> </div></div></div></div></div></div></div><div style="line-height:inherit; background-color:transparent"><div class="block-grid " style="line-height:inherit; min-width:320px; max-width:600px; word-wrap:break-word; word-break:break-word; margin:0 auto; background-color:transparent"><div style="line-height:inherit; border-collapse:collapse; display:table; width:100%; background-color:transparent"><div class="col num12" style="line-height:inherit; min-width:320px; max-width:600px; display:table-cell; vertical-align:top; width:600px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:00px solid #000000; padding:0px"><div align="center" class="img-container center autowidth" style="line-height:inherit; padding-right:0px; padding-left:0px"><a href="#" rel="noopener" tabindex="-1" target="_blank" style="line-height:inherit; outline:none"><img align="center" alt="2" border="0" class="center autowidth" src="https://news.crunchbase.com/wp-content/uploads/Black_Founders.jpg" title="2" width="600" style="line-height:inherit; text-decoration:none; height:auto; border:0; width:100%; max-width:600px; display:block"></a> </div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:30px 20px 20px 20px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="line-height:1.2; word-break:break-word; margin:0"><strong style="line-height:inherit"><span style="line-height:inherit; font-size:24px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; color:#0f66ff">Drop In Venture Funding To Black-Founded Startups Greatly Outpaces Market Decline</a></span></strong></p></div></div><div style="color:#000000; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px 20px 20px 20px"><div style="line-height:1.2; font-size:12px; color:#000000; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:16px; line-height:1.2; word-break:break-word; margin:0"><span style="line-height:inherit; font-size:16px">Venture funding to Black-founded U.S. startups last year totaled only $705 million — marking the first time since 2016 that the figure failed to even reach $1 billion, Crunchbase data shows.</span></p></div></div><div align="left" class="button-container" style="line-height:inherit; padding:10px 20px 40px 20px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; display:inline-block; color:#ffffff; background-color:#408bcb; border-radius:4px; -webkit-border-radius:4px; -moz-border-radius:4px; width:auto; padding-top:5px; padding-bottom:5px; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; text-align:center; word-break:keep-all; border:1px solid #408bcb"><span style="line-height:inherit; padding-left:20px; padding-right:20px; font-size:16px; display:inline-block"><span style="font-size:16px; line-height:2; word-break:break-word">Forgotten Founders →</span></span></a> </div></div></div></div></div></div></div><div style="line-height:inherit; background-color:transparent"><div class="block-grid two-up" style="line-height:inherit; min-width:320px; max-width:600px; word-wrap:break-word; word-break:break-word; margin:0 auto; background-color:transparent"><div style="line-height:inherit; border-collapse:collapse; display:table; width:100%; background-color:transparent"><div class="col num6" style="line-height:inherit; display:table-cell; vertical-align:top; max-width:320px; min-width:300px; width:300px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:00px solid #000000; padding:0px 20px 30px 20px"><div align="center" class="img-container center autowidth" style="line-height:inherit; padding-right:0px; padding-left:0px"><a href="#" rel="noopener" tabindex="-1" target="_blank" style="line-height:inherit; outline:none"><img align="center" alt="3" border="0" class="center autowidth" src="https://news.crunchbase.com/wp-content/uploads/AI_robotics_Facing_thm.jpg" title="3" width="260" style="line-height:inherit; text-decoration:none; height:auto; border:0; width:100%; max-width:260px; display:block"></a> </div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:20px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><strong style="line-height:inherit"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; color:#0f66ff">Why VCs Are Betting Robots Will Help Build Your Next Home</a></strong></p></div></div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><span style="line-height:inherit; color:#000000">Amid a period of widespread construction labor shortages and rising building costs, investors have poured hundreds of millions into startups at the intersection of construction and robotics, Crunchbase data shows.</span></p></div></div><div align="left" class="button-container" style="line-height:inherit; padding:10px 10px 10px 0px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; display:inline-block; color:#ffffff; background-color:#408bcb; border-radius:4px; -webkit-border-radius:4px; -moz-border-radius:4px; width:auto; padding-top:5px; padding-bottom:5px; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif; text-align:center; word-break:keep-all; border:1px solid #408bcb"><span style="line-height:inherit; padding-left:20px; padding-right:20px; font-size:16px; display:inline-block"><span style="font-size:16px; line-height:2; word-break:break-word; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif">Robot Homebuilders →</span></span></a> </div></div></div></div><div class="col num6" style="line-height:inherit; display:table-cell; vertical-align:top; max-width:320px; min-width:300px; width:300px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:0px solid transparent; padding:0px 20px 30px 20px"><div align="center" class="img-container center autowidth" style="line-height:inherit; padding-right:0px; padding-left:0px"><a href="#" rel="noopener" tabindex="-1" target="_blank" style="line-height:inherit; outline:none"><img align="center" alt="4" border="0" class="center autowidth" src="https://news.crunchbase.com/wp-content/uploads/Layoff_Erase_thm.jpg" title="4" width="260" style="line-height:inherit; text-decoration:none; height:auto; border:0; width:100%; max-width:260px; display:block"></a> </div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:20px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><strong style="line-height:inherit"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; color:#0f66ff">Tech Layoffs Stay High As Extended Runways Reach Their Limit</a></strong></p></div></div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><span style="line-height:inherit; color:#000000">After tailing off a bit in December, job cuts picked up again in January, per the Crunchbase Tech Layoffs Tracker. February also brought a high number of mass layoffs, with both large-cap tech companies and startups reducing staff.</span></p></div></div><div align="left" class="button-container" style="line-height:inherit; padding:10px 10px 10px 0px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; display:inline-block; color:#ffffff; background-color:#408bcb; border-radius:4px; -webkit-border-radius:4px; -moz-border-radius:4px; width:auto; padding-top:5px; padding-bottom:5px; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif; text-align:center; word-break:keep-all; border:1px solid #408bcb"><span style="line-height:inherit; padding-left:20px; padding-right:20px; font-size:16px; display:inline-block"><span style="font-size:16px; line-height:2; word-break:break-word; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif">Continuing Layoffs →</span></span></a> </div></div></div></div></div></div></div><div style="line-height:inherit; background-color:transparent"><div class="block-grid two-up" style="line-height:inherit; min-width:320px; max-width:600px; word-wrap:break-word; word-break:break-word; margin:0 auto; background-color:transparent"><div style="line-height:inherit; border-collapse:collapse; display:table; width:100%; background-color:transparent"><div class="col num6" style="line-height:inherit; display:table-cell; vertical-align:top; max-width:320px; min-width:300px; width:300px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:00px solid #000000; padding:0px 20px 30px 20px"><div align="center" class="img-container center autowidth" style="line-height:inherit; padding-right:0px; padding-left:0px"><a href="#" rel="noopener" tabindex="-1" target="_blank" style="line-height:inherit; outline:none"><img align="center" alt="5" border="0" class="center autowidth" src="https://news.crunchbase.com/wp-content/uploads/Collapsing-Crypto-Jenga-thm-Superside.jpg" title="5" width="260" style="line-height:inherit; text-decoration:none; height:auto; border:0; width:100%; max-width:260px; display:block"></a> </div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:20px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><strong style="line-height:inherit"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; color:#0f66ff">Celebrity Crypto Backers Hit Pause On Startup Deals</a></strong></p></div></div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><span style="line-height:inherit; color:#000000">We used Crunchbase data to compare the investments of several of the most famous names associated with crypto, looking at funds provided by the likes of Shaquille O'Neal, Stephen Curry, Naomi Osaka and Tom Brady.</span></p></div></div><div align="left" class="button-container" style="line-height:inherit; padding:10px 10px 10px 0px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; display:inline-block; color:#ffffff; background-color:#408bcb; border-radius:4px; -webkit-border-radius:4px; -moz-border-radius:4px; width:auto; padding-top:5px; padding-bottom:5px; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif; text-align:center; word-break:keep-all; border:1px solid #408bcb"><span style="line-height:inherit; padding-left:20px; padding-right:20px; font-size:16px; display:inline-block"><span style="font-size:16px; line-height:2; word-break:break-word; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif">Celebrities Step Back →</span></span></a> </div></div></div></div><div class="col num6" style="line-height:inherit; display:table-cell; vertical-align:top; max-width:320px; min-width:300px; width:300px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:0px solid transparent; padding:0px 20px 30px 20px"><div align="center" class="img-container center autowidth" style="line-height:inherit; padding-right:0px; padding-left:0px"><a href="#" rel="noopener" tabindex="-1" target="_blank" style="line-height:inherit; outline:none"><img align="center" alt="6" border="0" class="center autowidth" src="https://about.crunchbase.com/wp-content/uploads/2024/02/Two_screens-noback.png" title="6" width="228" height="260" style="line-height:inherit; text-decoration:none; height:260px; border:0px; width:228px; max-width:260px; display:block"></a> </div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:20px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><strong style="line-height:inherit"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; color:#0f66ff">Report: Analysis of the Media, Entertainment, and Gaming Industry</a></strong></p></div></div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px 0px 10px 0px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:14px; line-height:1.2; word-break:break-word; margin:0"><span style="line-height:inherit; color:#000000">Between The Eras Tour and Barbenheimer, 2023 was a big year for consumers. Still, venture funding for the media, entertainment, and gaming industry declined. Discover the highs — and lows — of the sector as we break down the data.</span></p></div></div><div align="left" class="button-container" style="line-height:inherit; padding:10px 10px 10px 0px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:none; display:inline-block; color:#ffffff; background-color:#408bcb; border-radius:4px; -webkit-border-radius:4px; -moz-border-radius:4px; width:auto; padding-top:5px; padding-bottom:5px; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif; text-align:center; word-break:keep-all; border:1px solid #408bcb"><span style="line-height:inherit; padding-left:20px; padding-right:20px; font-size:16px; display:inline-block"><span style="font-size:16px; line-height:2; word-break:break-word; font-family:'Helvetica Neue',Helvetica,Arial,sans-serif">MEG Report →</span></span></a> </div></div></div></div></div></div></div><div style="line-height:inherit; background-color:transparent"><div class="block-grid " style="line-height:inherit; min-width:320px; max-width:600px; word-wrap:break-word; word-break:break-word; margin:0 auto; background-color:transparent"><div style="line-height:inherit; border-collapse:collapse; display:table; width:100%; background-color:transparent"><div class="col num12" style="line-height:inherit; min-width:320px; max-width:600px; display:table-cell; vertical-align:top; width:600px"><div class="col_cont" style="line-height:inherit; width:100%!important"><div style="line-height:inherit; border:00px solid #000000; padding:5px 0px 5px 0px"><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:12px; line-height:1.2; word-break:break-word; text-align:center; margin:0"><span style="line-height:inherit; font-size:12px"><a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:underline; color:#59a6b9">Privacy Policy</a> | <a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:underline; color:#59a6b9">Terms of Service</a> | <a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:underline; color:#59a6b9">View in Browser</a> | <a href="#" rel="noopener" target="_blank" style="line-height:inherit; text-decoration:underline; color:#59a6b9">Unsubscribe</a></span></p></div></div><div style="color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; line-height:1.2; padding:10px"><div style="line-height:1.2; font-size:12px; color:#555555; font-family:Helvetica Neue,Helvetica,Arial,sans-serif"><p style="font-size:12px; line-height:1.2; word-break:break-word; text-align:center; margin:0"><span style="line-height:inherit; font-size:12px; color:#7b7b7b">Crunchbase, Inc.</span><br style="line-height:inherit"><span style="line-height:inherit; font-size:12px; color:#7b7b7b">564 Market Street, Suite 700 San Francisco, CA 94104</span></p></div></div></div></div></div></div></div></div></td></tr></tbody></table><img border="0" width="1" height="1" alt="" src="http://sp.email.crunchbase.com/q/Ie5xBvFOyRYVo48XKVVonA~~/AARGbAA~/RgRnxcP8PlcDc3BjQgpl4vw-42WzYrhSUhVlbXVsaXN0MDFAb3V0bG9vay5jb21YBAAAADs~"> </body></html>

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