There are roughly 1,400 unicorns in the world — a term that, in this case, rather than referring to magical creatures, is used to describe private companies with a valuation of more than $1 billion.
In the final quarter of 2022, however, the number of tech unicorns being created each quarter began trending downward after a pandemic period of rapid growth. High inflation and rising interest rates injected uncertainty into venture capital. Globally, only 37 new unicorns were formed in the most recent quarter, compared to 165 during the same period a year ago, according to data firm Crunchbase, which maintains a list of all the unicorns across the globe.
Despite the decline in valuations, six D.C.-area companies achieved valuations of more than $1 billion over the past year.
Topping the list is healthcare tech company Aledade Inc., which raised $123 million in June at a $3.1 billion valuation. The Bethesda firm helps medical practices find new ways to build health results into their…
Read the full story from the Washington Business Journal.
