The 30 startups whose value ballooned the most during the ‘steroid era’ of funding

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Alan Levine / Flickr

For the last four years, many startups have been chasing after a billion-dollar “unicorn” valuation.

Now that the steroid era of startup funding is coming to an end, these richly valued companies are in the spotlight. Many will end up being worth a lot less than their last valuation. A few will surpass it.

Business Insider worked with PitchBook to rank the companies that juiced up their valuations the most since 2012.

Here are the top 30 companies who saw their valuations rise by at least $1 billion during the past 4 years, ranked by how those valuations have grown:


30. InsideSales.com increased its valuation by $1.31 billion between 2012 and 2016.

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Insidesales.com CEO Dave Elkington
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Insidesales.com

InsideSales.com provides a cloud-based platform for sales reps to predict and accelerate a company’s revenue growth.

Post-money valuation pre-2012: $32 million

Pre-money valuation in 2016: $1.342 billion

Valuation increase: 3,941%

Total raised: $200 million from Salesforce Ventures, Microsoft, and Kleiner Perkins Caufield & Byers


29. AppNexus: $1.31 billion

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Robert Libetti/ Business Insider

AppNexus powers and optimizes online advertising spending.

Post-money valuation pre-2012: $191 million

Pre-money valuation in 2016: $1.501 billion

Valuation increase: 584%

Total raised: $313.17 million from Silicon Valley Bank, Venrock Associates, and First Round Capital, among other investors


28. Box: $1.49 billion (before it went public in 2015).

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Box

Box stores files online for personal and business accounts.

Post-money valuation pre-2012: $757 million

Last private valuation: $2.25 billion

Valuation increase: 97%

Total raised: $583.93 million from Draper Fisher Jurvetson, New Enterprise Associates, Andreessen Horowitz


27. MongoDB: $1.53 billion

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Flickr/garrettheath

MongoDB Inc. develops the free open-sourced MongoDB NoSQL database.

Post-money valuation pre-2012: $190 million

Pre-money valuation in 2016: $1.72 billion

Valuation increase: 705%

Total raised: $311.54 million from New Enterprise Associates, Goldman Sachs, T. Rowe Price, and Fidelity, among others.


26. WhatsApp: $1.54 billion (before Facebook bought it for $19 billion in 2014).

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David Ramos/Getty Images

WhatsApp is the creator of a free worldwide messaging app. The company was purchased by Facebook in October 2014.

Post-money valuation pre-2012: $40 million

Last valuation at time of Facebook acquisition: $1.576 billion

Valuation increase: 3712%

Total raised: $61.1 million from Sequoia Capital


25. Prosper Marketplace: $1.62 billion

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Twitter/Aaron Vermut

Prosper Marketplace is a peer-to-peer lending site where people can invest in personal loans or request money.

Post-money valuation pre-2012: $81 million

Pre-money valuation in 2016: $1.702 billion

Valuation increase: 1890%

Total raised: $360.9 million from Sequoia Capital, Credit Suisse, Draper Fisher Jurvetson, and the Omidyar Network, among others.


24. Domo: $1.67 billion

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Twitter/joshjames

Domo helps companies visualize what’s happening with their business.

Post-money valuation pre-2012: $127 million

Pre-money valuation in 2016: $1.8 billion

Valuation increase: 1219%

Total raised: $614.77 million from Benchmark, BlackRock, GGV Capital, and Andreessen Horowitz, among others.


23. AppDynamics: $1.70 billion

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AppDynamics

AppDynamics tracks how a company’s applications are performing.

Post-money valuation pre-2012: $46 million

Pre-money valuation in 2016: $1.742 billion

Valuation increase: 3613%

Total raised: $335 million from Greylock Partners, Lightspeed Venture Partners, Kleiner Perkins Caufield & Byers, and Institutional Venture Partners, among others.


22. Moderna Therapeutics: $2.53 billion

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Wikimedia Commons

Moderna Therapeutics is developing a new class of drugs using mRNA technology.

Post-money valuation pre-2012: $25 million

Pre-money valuation in 2016: $2.55 billion

Valuation increase: 10,020%

Total raised: $863.90 million from Flagship Ventures, Merck Ventures, and AstraZeneca.


21. Social Finance (SoFi): $2.57 billion.

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Mike Cagney of SoFi.
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SoFi

SoFi is a fintech startup that offer below-market-rate student loans and mortgage refinancing.

Post-money valuation pre-2012: $8 million

Pre-money valuation in 2016: $2.575 billion

Valuation increase: 31,988%

Total raised: $1.42 billion from SoftBank Capital, Institutional Venture Partners, and Baseline Ventures, among others


20. DocuSign: $2.57 billion.

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Docusign

DocuSign enables people to sign and send legal documents in the cloud.

Post-money valuation pre-2012: $196 million

Pre-money valuation in 2016: $2.767 billion

Valuation increase: 1212%

Total raised: $563.17 million from Comcast Ventures, GV, Accel Partners, and Visa Ventures, among others


19. Machine Zone: $2.68 billion.

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Screenshot

Machine Zone is a video game company, known for the hit “Game of War”.

Post-money valuation pre-2012: $44 million

Pre-money valuation in 2016: $2.725 billion

Valuation increase: 6061%

Total raised: $390 million from SV Angel, Menlo Ventures, JP Morgan, Y Combinator, and Baseline Ventures.


18. Fanatics: $2.94 billion

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Fanatics

Fanatics owns and operates more than 250 e-commerce sites for sports fans.

Post-money valuation pre-2012: $174 million

Pre-money valuation in 2016: $3.118 billion

Valuation increase: 1592%

Total raised: $620 million after its spin-off from eBay. It’s late-stage VC investors include Andreessen Horowitz, Silver Lake, and Alibaba Capital Partners.


17. CloudFlare: $3.0 billion

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Reuters

CloudFlare is a content delivery network that speeds up load times and protects websites against attack.

Post-money valuation pre-2012: $80 million

Pre-money valuation in 2016: $3.078 billion

Valuation increase: 3648%

Total raised: $181 million from Fidelity, Microsoft, Baidu, Union Square Ventures, Venrock, and New Enterprise Associates, among others.


16. Cloudera: $3.05 billion

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YouTube/Informatica Corporation

Cloudera helps companies install and maintain data analysis software.

Post-money valuation pre-2012: $318 million

Pre-money valuation in 2016: $3.371 billion

Valuation increase: 860%

Total raised: $1.04 billion from T. Rowe Price, Google Ventures, Accel Partners, and Greylock Partners.


15. Credit Karma: $3.31 billion

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Credit Karma

Credit Karma helps people keep track of their credit scores.

Post-money valuation pre-2012: $15 million

Pre-money valuation in 2016: $3.325 billion

Valuation increase: 22621%

Total raised: $370.27 million from Tiger Global Management, Google Capital, and 500 Startups, among others.


14. Pure Storage: $3.32 billion

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Pure Storage

Pure Storage sells arrays of high-speed solid state hard drives to the business market.

Post-money valuation pre-2012: $248 million

Pre-money valuation in 2016: $3.57 billion

Valuation increase: 1238%

Total raised: $528 million from T. Rowe Price, Tiger Global, Greylock Partners, Index Ventures, and Fidelity, among others


13. Lending Club: $3.40 billion (before it went public in 2014)

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REUTERS/Brendan McDermid

Lending Club is a peer-to-peer lending company that makes it fast to get a small business loan.

Post-money valuation pre-2012: $260 million

Last private valuation: $3.662 billion

Valuation increase: 1207%

Total raised: $236.5 million from Google Capital, Foundation Capital, Union Square Ventures, and Kleiner Perkins.


12. Slack: $3.52 billion

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Slack

Slack is a chat app built for the workplace.

Post-money valuation pre-2012: $77 million

Pre-money valuation in 2016: $3.6 billion

Valuation increase: 4452%

Total raised: $546.73 million from Thrive Capital, GGV Capital, Institutional Venture Partners, Social Capital, Kleiner Perkins, and Andreessen Horowitz.


11. Tanium: $3.53 billion

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Tanium

Tanium gives IT administrators a single console that tells them everything that’s happening on all the computers in an organization.

Post-money valuation pre-2012: $50 million

Pre-money valuation in 2016: $3.580 billion

Valuation increase: 6920%

Total raised: $287.33 million from Andreessen Horowitz, TPG Capital, T. Rowe Price, and Institutional Venture Partners.


10. SpaceX: $3.95 billion

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Kevork Djansezian/Getty Images

Founded by Elon Musk, SpaceX is building re-usable rockets for space.

Post-money valuation pre-2012: $1.018 billion

Pre-money valuation in 2016: $4.97 billion

Valuation increase: 288%

Total raised: $1.25 billion from Draper Fisher Jurvetson, Founders Fun, and Fidelity Investments, among others.


9. Square: $4.39 billion (before it went public in 2015).

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Mike Blake/Reuters

Square makes it easy for small businesses to accept credit cards.

Post-money valuation pre-2012: $1.606 billion

Last valuation before IPO: $6 billion

Valuation increase: 174%

Total raised: $746.96 million from Khosla Ventures, Visa, and Risvi Traverse Management.


8. Lyft: $4.47 billion

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Getty Images

Lyft is competing with Uber to make it easy to get a ride at the push of a button.

Post-money valuation pre-2012: $29 million

Pre-money valuation in 2016: $4.5 billion

Valuation increase: 15382%

Total raised: $2.01 billion from Founders Fund, Andreessen Horowitz, General Motors, and Rakuten, among others.


7. Stemcentrx: $4.64 billion (before it was acquired for $10 billion in 2016)

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Getty Images/Spencer Platt

Stemcentrx is studying eliminating stem cells as a cure for cancer.The company was acquired in April 2016 by AbbVie for a reported $10 billion.

Post-money valuation pre-2012: $128 million

Pre-money valuation in 2016: $4.771 billion

Valuation increase: 3539%

Total raised: $550.26 million from Artis Ventures, Fidelity Investments, Sequoia Capital, and Founders Fund, among others.


6. Dropbox: $5.43 billion

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Reuters/ Mike Blake

Dropbox stores files in the cloud.

Post-money valuation pre-2012: $4.594 billion

Pre-money valuation in 2016: $10.028 billion

Valuation increase: 18%

Total raised: $1.1 billion from BlackRock, Fidelity Investments, T. Rowe Price, and Sequoia Capital, among others.


5. Theranos: $7.31 billion

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Thomson Reuters

Theranos promises to analyze your blood from a single drop.

Post-money valuation pre-2012: $1.122 billion

Pre-money valuation in 2016: $8.427 billion

Valuation increase: 551%

Total raised: $573 million from Draper Fisher Jurvetson, ATA Ventures, and Sandbox Industries, among others.


4. Pinterest: $10.20 billion

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flickr/deerkoski

Pinterest is a photo-collection startup that lets people search for what they love visually.

Post-money valuation pre-2012: $266 million

Pre-money valuation in 2016: $10.467 billion

Valuation increase: 3731%

Total raised: $1.32 billion from Bessemer Venture Partners, Andreessen Horowitz, and Rakuten, among others.


3. Palantir: $17.15 billion

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YouTube/Screenshot

Palantir is a super secretive company that specializes in analyzing big data.

Post-money valuation pre-2012: $2.5 billion

Pre-money valuation in 2016: $19.649 billion

Valuation increase: 586%

Total raised: $2.69 billion from BlackRock, In-Q-Tel, Morgan Stanley, and Founders Fund, among others


2. Airbnb: $23.89 billion

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Airbnb

Airbnb operates an online marketplace that enables people to host guests in their home.

Post-money valuation pre-2012: $32 million

Pre-money valuation in 2016: $23.917 billion

Valuation increase: 1640%

Total raised: $2.49 billion from Sequoia Capital, Andreessen Horowitz, and Greylock Partners, among others.


1. Uber’s growth on paper has been explosive. The company was valued at $60 million at the start of 2012. Now four years later, it’s raised its pre-money valuation to $50 billion, a whopping $49.9 billion increase in value.

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Flickr via Heisenberg Media

Uber makes it easy to hail a car with the tap of a button, and it’s also powering the delivery logistics for small businesses and delivering food.

Post-money valuation pre-2012: $60 million

Pre-money valuation in 2016: $50 billion

Valuation increase: 83133%

Total raised: $8.91 billion from Baidu, Goldman Sachs, T. Rowe Price, First Round Capital, and Benchmark, among others.