These 16 companies just became the first unicorns of 2018 by landing valuations of $1 billion or more

Amid the tech landscape, unicorns are few and far between.

Last year, CB Insights tallied the odds of becoming a unicorn — a company valued at $1 billion or more — at under 1%.

But already, within the first few months of 2018, a total of 16 companies have overcome those odds and crossed the billion-dollar valuation mark. These companies, which were originally rounded up in a recent report by Pitchbook, are working to transform industries like transportation, medicine, entertainment, data analysis, and farming.

While most of the companies to reach unicorn status are located within the US, China was a notable contender with four companies making the list, and Romania celebrated its first unicorn to date, a robotic automation company called UI Path.

Here's the full roundup of 2018's freshly-minted unicorns: 

16 PHOTOS
16 companies passing the $1B valuation mark
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16 companies passing the $1B valuation mark

Canva is an Australian company that provides graphic designers with an intuitive platform.

Year founded: 2012

Total raised: $96 million

Currently valued at: $1 billion

What it does: Canva complements graphic design projects with easy-to-use design software and a comprehensive selection of graphic elements like stock photos and fonts. 

Photo credit: Getty

The Chinese company Meicai created an app that connects farmers to restaurants.

Year founded: 2014

Total raised: $477 million

Currently valued at: $2.8 billion

What it does: Meicai, which translates to "buy vegetables," runs its application on inexpensive cellphones so that Chinese farmers can distribute fresh produce to restaurants in their area. 

Photo credit: Getty

Caocao Zhuanche is a Chinese-based ride-share company that operates a fleet of electric and hybrid cars in China.

Year founded: 2015

Total raised: $380 million

Currently valued at: $1.6 billion

What it does: Caocao has been fighting its way into China's colossal ride-share market. The company offers taxi hailing services, car rental services, and private car touring options. 

Photo credit: Caocao

Cabify is a ride-share service similar to Uber, but it works exclusively in Spanish and Portuguese-speaking countries like Ecuador, the Dominican Republic, and Portugal.

Year founded: 2011

Total raised: $410 million

Currently valued at: $1.4 billion

What it does: Cabify's competitive edge lies in the rapport the company has developed with local businesses and clients, which the company says will allow them to continue to pay its drivers fairly. 

Photo credit: Getty 

Snowflake provides a way for corporations to store and analyze data using cloud-based hardware and software. 

Year founded: 2012

Total raised: $473 million

Currently valued at: $1.8 billion

What it does: Snowflake helps big businesses back up their data using cloud-based technologies. 

Photo credit: Reuters

HeartFlow is a competitive medical technology company that has received funding from investors like US Venture Partners and GE Ventures. 

Year founded: 2007

Total raised: $467 million

Currently valued at: $1.5 billion

What it does: HeartFlow develops tools that help doctors analyze blocked coronary arteries without requiring invasive surgery. 

Photo credit: HeartFlow 

MedMen is the largest marijuana retailer in Southern California.

Year founded: 2010

Total raised: $57 million

Currently valued at: $1 billion

What it does: MedMen operates 18 cannabis dispensaries in Southern California, Las Vegas, and New York. The company's sleek retail outposts are styled similarly to an Apple store, and the concept is taking off among millennials. 

Photo credit: Reuters

OrCam is a Jerusalem-based company that has spent the last eight years developing technology for the seeing-impaired. 

Year founded: 2010

Total raised: $91 million

Currently valued at: $1 billion

What it does: OrCam creates AI-equipped technology that lets seeing-impaired people hear printed text, differentiate between products, and recognize faces. 

Photo credit: Reuters

DoorDash's most recent $535 million cash infusion was led by SoftBank.

Year founded: 2013

Total raised: $722 million

Currently valued at: $1.4 billion

What it does: DoorDash is a food delivery service that connects restaurants with hungry customers.

Photo credit: Reuters

Brazilian financial company Nubank has been growing by leaps and bounds — in just one year, the startup saw its revenue triple and its user base double. 

Year founded: 2013

Total raised: $329 million

Currently valued at: $1 billion

What it does: Nubank offers a no-fee credit card that's managed exclusively on the company's mobile app.

Source: Reuters 

Photo credit: NuBank

UIPath is a Romanian company that helps companies automate routine tasks.

Year founded: 2005

Total raised: $149 million

Currently valued at: $1.1 billion

What it does: UI Path specializes in robotic process automation, an AI-based service that records and automates mundane computer office tasks. The company is considered Romania's first unicorn

Photo credit: UiPath

Chinese gaming platform Douyu has 13 million active users.

Year founded: 2005

Total raised: $1.1 billion

Currently valued at: $1.5 billion

What it does: Douyu is a live-stream gaming and entertainment platform similar to Amazon's Twitch.

Source: PocketGamer 

Photo credit: Getty

In under two years, Chinese entertainment site Qutoutiao has raised $100 million.

Year founded: 2016

Total raised: $100 million

Currently valued at: $1.4 billion

What it does: Qutoutiao is a news and entertainment app centered on short, sensational news items

Photo credit: Qutoutiao

In March, Samsara closed a $50 million funding round which included investors Andreessen Horowitz and General Catalyst.

Year founded: 2015

Total raised: $130 million

Currently valued at: $1.4 billion

What it does: Samsara creates internet-connected sensors that deliver data like location and temperature on trucking fleets, an industry that's currently evolving with the arrival of autonomous trucking.

Source: TechCrunch 

Photo credit: Getty

Chicago-based Tempus uses clinical data to improve cancer care.

Year founded: 2015

Total raised: $158 million

Currently valued at: $1.1 billion

What it does: Tempus collects molecular and clinical data to create more efficient treatment for cancer patients. 

Photo credit: Getty

Customer engagement company Intercom has raised nearly a quarter billion in funding in 3 years. 

Year founded: 2015

Total raised: $240 million

Currently valued at: $1.3 billion

What it does: Intercom helps businesses connect with their customers using its data-driven messaging system. Famed venture capitalist Mary Meeker recently joined the company's board. 

Photo credit: Intercom

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