5 startups broke the $1 billion market cap barrier last quarter, and you've probably never heard of most of them
AppLovin
What it's does: AppLovin is a mobile marketing platform founded in Palo Alto, California in 2012. Under CEO Adam Foroughi, the startup has gained a foothold in the online gaming space by helping game app designers track analytics and monetize their apps.
What it's worth now: $2 billion
Total funding: $944 million
Who's invested: AppLovin was originally backed by angel investors including Maynard Webb, of eBay and Yahoo fame. Its latest valuation comes from a $400 million private equity investment from Kohlberg Kravis Roberts, better known as KKR.
BenevolentAI
What it's does: The London-based Benevolent AI was founded in 2013. The startup uses AI to advance medical research. It's a rising star in the biotech and drug discovery field.
What it's worth now: $2 billion
Total funding: $203 million
Who's invested: BenevolentAI has been funded by private equity since the beginning. In April, it raised $115 million from investors at Lansdowne Partners, Lundbeck, Nortrust Nominees, Upsher-Smith Laboratories and Woodford Investment Management.
Bird
What it's does: Since its founding in 2017, the Santa Monica, California-based Bird has taken over cities with its flocks of app-activated electric scooters which commuters use to buzz around metropolitan areas.
What it's worth now: $2 billion
Total funding: $415 million
Who's invested: Bird has rapidly found itself infused with cash, thanks to multiple funding rounds in its short lifetime. Its biggest-named investors include Sequoia Capital and Accel. Its most recent $150 million round in June valued the company at $2 billion.
Automation Anywhere
What it's does: Founded in 2003, Automation Anywhere makes software for robots which lets companies automate repetitive and routine tasks. But it's not about machinery so much as software bots, which can be trained to do tasks on applications.
What it's worth now: $1.8 billion
Total funding: $250 million
Who's invested: The startup raised its first round, a $250 million Series A, in July led by New Enterprise Associates (NEA) and Goldman Sachs.
Aihuishou.com
What it's does: Aihuishou is a Chinese platform, founded in 2011, that lets users bid on recycled and second-hand electronics. The company focuses on popular items like cellphones and laptops.
What it's worthnow: $1.5 billion
Total funding: $278 million
Who's invested: An investment from Tiger Global Management and JD.com in July gave Aihuishou its mega-sized valuation, though the company has a long history of venture capital funding, starting with MorningSide Venture Capital's investment in 2011.
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