The United States – Israel Business Alliance (USIBA) announced today that Israel has set a new record with 35 Israeli-founded unicorns in in California.
The 35 Israeli-founded unicorns headquartered in California are privately held companies valued at $1 billion or more, according to USIBA . Anchored by a dynamic cluster in Silicon Valley, the 35 Israeli-founded unicorns mark the most ever in a single state at one time.
“Despite a dizzying multi-year stretch that has seen disruptions to international travel, breaks in the global supply chain, and a shaky economy,” USIBA president Aaron Kaplowitz said. “California remains a prime destination for Israeli entrepreneurs to build powerhouse tech companies.”
The 35 Israeli-founded unicorn companies have combined to create some 31,985 direct jobs around the world, an average of 914 jobs per company. The five largest job creators are Armis (5,000), Navan (3,000), SpotOn (2,526), Deel (2,464), and Gusto (2,424).
“The mystique around the ‘Start-Up Nation’ is certainly an effective marketing tool,” Kaplowitz said. “Nevertheless, these companies are creating thousands of local jobs and enriching communities.”
The total valuation for all 35 unicorns amounts to $115 billion. That puts the average company value at $3.29 billion. The three Israeli-founded companies with the highest valuations in the U.S. all have their global or U.S. headquarters in California: Rapyd ($15 billion), Deel ($12 billion), and Gusto ($10 billion). Each of these companies also has a presence in multiple U.S. markets. Although Rapyd’s global headquarters is in London, it now maintains U.S. offices in San Francisco, San Jose, Denver, and Miami. Deel’s global headquarters is based in San Francisco and the HR platform provider also has a New York office. Gusto, also based in San Francisco, has offices in Denver, New York, and Scottsdale.
The newest unicorn members are Monte Carlo , a data observability platform that completed a raise based on a $1.6 billion value in May; StoreDot , an advanced battery maker that also surpassed the “three-comma” valuation milestone last May; and Visby Medical , a PCR-based health diagnostics company that closed a funding round at a $1.1 billion valuation in June. Soon after completing a $116 million capital raise at a $1.4 billion valuation last February, gaming developer Tripledot Studios acquired California-based Live Play Mobile to secure its California credentials.
Record 35 Israeli-Founded Unicorns Now Headquarter in California With 14 Israeli-founded unicorn headquarters, San Francisco has the most of any city in California. Nationally, San Francisco trails only New York City, which is currently home to 30 Israeli-founded unicorns . Palo Alto’s five Israeli-founded unicorns are the second-most in California, followed by San Jose, with four.
In contrast to the six Israeli-founded California unicorns that went public between April 27, 2021 and April 27, 2022 (Hippo , Innoviz , ironSource , Otonomo , SentinelOne , and WalkeMe ), no Israeli-founded California unicorn IPO’ed over the past year. California did, however, lose one unicorn. Wiz, a cloud security leader, moved its U.S. headquarters from Palo Alto to New York.
California’s Israeli-founded unicorn total represents a 10 percent increase from the state’s previous national record, set in 2022, of serving as the global or U.S. headquarters to 32 Israeli-founded unicorns.
The companies’ valuations and direct jobs created figures 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 .
Israeli-Founded Unicorns Based in California
Company Valuation Jobs Created City Solution
AppsFlyer $2,000,000,000
1,640
San Francisco
Mobile marketing analytics
Armis $3,500,000,000
5,000
San Francisco
Agentless device security
At-Bay $1,350,000,000
287
San Francisco
Cyber insurance
BigPanda $1,200,000,000
345
Redwood City
IT software solution
Cato Networks $2,500,000,000
696
San Jose
SaaS platform
Cloudinary $2,000,000,000
484
Santa Clara
Media experience platform
Deel $12,000,000,000
2,464
San Francisco
Payroll and compliance
Dremio $2,000,000,000
371
Santa Clara
Big data curation
Exabeam $2,400,000,000
724
Foster City
Security automation
Firebolt $1,400,000,000
154
San Francisco
Data warehousing
Fundbox $1,100,000,000
275
San Francisco
Cash flow optimization
Gong $7,250,000,000
1,458
Palo Alto
Revenue intelligence
Gusto $10,000,000,000
2,424
San Francisco
Payroll, benefits, and HR
Hailo $1,100,000,000
217
San Jose
AI chipmaker
HoneyBook $2,500,000,000
200
San Francisco
Workflow platform
Houzz $4,000,000,000
1,664
Palo Alto
Home design and decorating
Monte Carlo $1,600,000,000
199
San Francisco
Data monitoring
Navan $9,200,000,000
3,000
Palo Alto
Corporate travel management
NEXT Insurance $4,000,000,000
800
Palo Alto
Insurance for small businesses
Noname Security $1,000,000,000
386
San Jose
API security
Placer.ai $1,000,000,000
598
Los Altos
Foot traffic analytics
RapidAPI $1,000,000,000
200
San Francisco
API marketplace
Rapyd $15,000,000,000
850
San Francisco
Payments platform
Redis Labs $2,000,000,000
891
Mountain View
Database management
Salt Security $1,500,000,000
204
Palo Alto
API security
SpotOn $3,600,000,000
2,526
San Francisco
Restaurant & retail payment
StoreDot $1,500,000,000
128
Irvine
Advanced batteries
Sunbit $1,100,000,000
480
Los Angeles
Buy now, pay later
Tipalti $8,300,000,000
1,024
Foster City
Accounts payable
Trax $2,250,000,000
824
San Francisco
Retail analytics
Tripledot Studios $1,400,000,000
400
Los Angeles
Mobile games studio
Veev $1,000,000,000
255
Hayward
Home-building tech
Visby Medical $1,100,000,000
249
San Jose
PCR-based diagnostics
Viz.ai $1,200,000,000
403
San Francisco
AI disease detection & care
Wiliot $1,000,000,000
165
San Diego
IoT Platform
Aaron Kaplowitz
President
United States – Israel Business Alliance
www.usisrael.co
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