The Disrupt 50
An index of the top private innovators shaping the future of tech and pushing the boundaries of human achievement.
Innovator Spotlight: Prometheus
Prometheus, co-led by Jeff Bezos and Vik Bajaj, builds AI tools for engineers working on complex physical products in aerospace, automotive, computing, and related industries. The tools draw on physics data and manufacturing knowledge to model real-world constraints during prototyping and other pre-production stages. Paired with heavy compute and specialized engineering talent, they cut iteration times and development costs, helping teams reach manufacturable designs faster.
Bezos frames the company’s goal in bigger terms: an “artificial general engineer” that automates the design and manufacturing of physical systems, from jet engines to drug compounds. He has described the aim as compressing the “dream-build loop” tenfold or more. Where AI companies like OpenAI and Anthropic work in the digital domain, Prometheus targets tangible engineering and manufacturing, accelerating the AI revolution into the physical world.
Deal Metrics
Median
Recent Deal Size
$1.0 B
Median
Raised to Date
$1.7 B
Median
Time Between Financing Rounds
0.7 years
Average
Recent Deal Size
$5.7 B
Average
Raised to Date
$9.9 B
Average
Time Between Financing Rounds
1.0 years
Top Disrupt 50 Investors
Sequoia Capital
Menlo Park, CA
Andreessen Horowitz
Menlo Park, CA
Nvidia (NAS: NVDA)
Santa Clara, CA
Coatue Management
New York, NY
Lightspeed Venture Partners
Menlo Park, CA
Thrive Capital
New York, NY
DST Global
George Town, Cayman Islands
Qatar Investment Authority
Doha, Qatar
General Catalyst
San Francisco, CA
The Disrupt 50
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| Rank | Rank Move | Company | Industry | Post Money | Recent Deal | Value Trend | Expand row | |
|---|---|---|---|---|---|---|---|---|
| 1 | Anthropic | Artificial Intelligence | $965.0B | May 2026 | ||||
Industry:Artificial Intelligence Recent Deal:May 2026 Value Trend: Company DescriptionAnthropic is an AI research company developing highly capable and safe artificial intelligence systems. Recent NewsOn June 12, 2026, Anthropic abruptly disabled access to its Fable 5 and Mythos 5 models due to a U.S. government export control order, but announced on June 30, 2026, that the Department of Commerce lifted the restrictions and access would be restored. Concurrently, on June 30, 2026, the company released its latest frontier model, Claude Sonnet 5, alongside Claude Science, a dedicated AI workbench designed for scientific research and drug discovery. Additionally, Anthropic expanded its global footprint by opening a new office in Seoul, South Korea, on June 17, 2026. Recent FinancingAnthropic secured $65 billion in Series H venture funding led by Dragoneer Investment Group, Greenoaks Capital Partners, and Sequoia Capital. Pending FinancingAnthropic has confidentially filed for an initial public offering. | ||||||||
| 2 | OpenAI | Artificial Intelligence | $852.0B | March 2026 | ||||
Industry:Artificial Intelligence Recent Deal:March 2026 Value Trend: Company DescriptionOpenAI develops powerful artificial intelligence models that fundamentally change how people and computers interact and create. Recent NewsIn late April, OpenAI unveiled its frontier model GPT-5.5 and launched GPT-Rosalind for life sciences research, while expanding its cloud distribution to Amazon Bedrock. In late June 2026, the company previewed its next-generation GPT-5.6 Sol models but announced it would limit their public release at the request of the Trump administration. Recent FinancingOpenAI raised venture funding in a round led by Nvidia, SoftBank Group, and Amazon.com. Pending FinancingOpenAI has confidentially filed paperwork for an initial public offering, though reports indicate the company is leaning toward postponing the listing until 2027. | ||||||||
| 3 | Stripe | Fintech | $159.0B | February 2026 | ||||
Industry:Fintech Recent Deal:February 2026 Value Trend: Company DescriptionStripe offers an easy and intuitive platform for businesses to manage and process online payments, disrupting traditional banking methods for e-commerce. Recent NewsOn June 30, 2026, Stripe partnered with major financial firms, including Visa and BNY Mellon, to support a new dollar-backed stablecoin called Open USD. Additionally, the company teamed up with Lloyds Bank on June 9, 2026, to launch a new suite of payment tools named Lloyds Accept for small businesses in the United Kingdom. Stripe also collaborated with AWS on June 15, 2026, to enable secure billing and payments driven by autonomous AI agents. Recent FinancingThe company completed a secondary transaction with Thrive Capital, Coatue Management, and Andreessen Horowitz to provide liquidity to employees and repurchase shares. Pending FinancingWhile speculation continues to swirl regarding a potential initial public offering for Stripe, the company has not confirmed any plans to go public and its leadership notes they are in no rush to do so. | ||||||||
| 4 | Databricks | Data Intelligence | $134.0B | December 2025 | ||||
Industry:Data Intelligence Recent Deal:December 2025 Value Trend: Company DescriptionDatabricks offers a unified data platform built on the open-source Apache Spark framework that allows organizations to combine their data engineering, data science, and machine learning workflows. Recent NewsOn June 16, 2026, Databricks launched Genie One, an agentic coworker designed to automate and orchestrate workflows for business teams. Additionally, on June 30, 2026, the company introduced the beta release of Lakehouse Real-Time, a serverless SQL warehouse type engineered for low-latency, high-concurrency workloads. Recent FinancingDatabricks secured an estimated $4 billion in Series L venture funding with Insight Partners, J.P. Morgan Growth Equity Partners, and Fidelity Management & Research Company as lead investors. Pending FinancingDatabricks plans to eventually pursue an initial public offering to provide liquidity for its employees, but the company has delayed its plans and will not go public in 2026. | ||||||||
| 5 | Waymo | Autonomous Driving | $126.0B | February 2026 | ||||
Industry:Autonomous Driving Recent Deal:February 2026 Value Trend: Company DescriptionWaymo develops and operates a fleet of fully autonomous vehicles that provide commercial ride-hailing services without a human driver, aiming to replace traditional transportation models with automated technology. Recent NewsOn June 29, 2026, Waymo and Uber announced the conclusion of their three-year robotaxi partnership in Phoenix, Arizona, allowing Waymo to redeploy its local vehicles to its own platform and DoorDash deliveries. Additionally, on May 22, 2026, Waymo suspended all freeway operations following safety concerns that prompted a voluntary software recall of over 3,000 autonomous vehicles due to navigation challenges in flooded conditions. Recent FinancingWaymo secured $16 billion in venture funding led by Dragoneer Investment Group, DST Global, and Sequoia Capital. Pending FinancingThe available data indicates that Waymo is not currently preparing for an initial public offering or seeking additional financing, and there are no reported pending, rumored, or imminent financing events. | ||||||||
| 6 | Revolut | Financial Technology | $100.0B | February 2026 | ||||
Industry:Financial Technology Recent Deal:February 2026 Value Trend: Company DescriptionRevolut is a global financial technology company that provides a mobile-based platform for digital banking, foreign exchange, and multi-currency payment services to replace traditional banking infrastructure. Recent NewsOn June 29, 2026, Revolut announced a shift away from its remote-first policy for its 2027 intake of graduates and interns, requiring them to work in the office at least three days a week. Additionally, the company reported a record profit of $2.3 billion for the 2025 fiscal year on March 24, 2026, as revenues surged to $6 billion. Recent FinancingThe company completed a secondary share sale led by Coatue, Greenoaks, and Dragoneer. Pending FinancingRevolut has indicated plans for a potential initial public offering after 2027. | ||||||||
| 7 | Anduril Industries | Defense Technology | $61.0B | May 2026 | ||||
Industry:Defense Technology Recent Deal:May 2026 Value Trend: Company DescriptionAnduril Industries builds autonomous defense systems and software to rapidly modernize and deliver capabilities for military applications. Recent NewsOn June 30, 2026, Amazon Web Services announced a partnership with Anduril Industries to integrate AWS Outpost cloud computing capabilities into Anduril's Menace-I mobile data center for tactical edge military deployment. Previously, on June 17, 2026, the U.S. Air Force selected Anduril to provide mission autonomy software and build fighter drones under the Collaborative Combat Aircraft program. Additionally, on June 22, 2026, the U.S. Army awarded Anduril a major contract to lead its common data baseline for next-generation command and control systems. Recent FinancingAnduril Industries secured $5 billion in Series H venture funding led by Andreessen Horowitz and Thrive Capital, with participation from Coral Capital. Pending FinancingAnduril Industries is reportedly negotiating to raise $8 billion in a new round of financing to increase its asset valuation to $60 billion. | ||||||||
| 8 | Cursor | Software Development | $52.0B | April 2026 | ||||
Industry:Software Development Recent Deal:April 2026 Value Trend: Company DescriptionAnysphere is developing an AI-powered operating system for software development that fundamentally changes how developers interact with code. Recent NewsOn June 24, 2026, NTT DATA announced a strategic partnership with Cursor to integrate the company's AI agents into its global software engineering and delivery models. Earlier, on June 5, 2026, Cursor rolled out a product update introducing Design Mode, which allows developers to direct autonomous agents using visual prompts. Additionally, report details from late May 2026 indicated that Cursor had grown its internal team to 200 employees while expanding its enterprise business. Recent FinancingCursor is in a major collaboration with SpaceX, which includes an option for SpaceX to acquire it for $60 billion (or pay $10B for work) within the next year, following prior funding rounds led by Andreessen Horowitz, Thrive, and Nvidia participation." Pending FinancingSpaceX has signed a final merger agreement to acquire Cursor in an all-stock transaction valued at $60 billion, which is expected to close in the third quarter of 2026. | ||||||||
| 9 | Ramp | Fintech | $44.0B | June 2026 | ||||
Industry:Fintech Recent Deal:June 2026 Value Trend: Company DescriptionRamp uses AI to streamline corporate spending management, helping businesses automate finance tasks and save money and time. Recent NewsOn April 29, 2026, Ramp launched a fleet of AI agents designed to automate the procurement process, including vendor sourcing and contract reviews. The company also announced a multi-year partnership with Stanford Athletics on May 26, 2026, to serve as its official expense management partner. Additionally, in May 2026, the startup Midday joined Ramp to integrate its financial software design into the platform. Recent FinancingThe company raised $782 million through a combination of Series F venture funding in a round led by ICONIQ Growth, GIC Private, and Ontario Teachers' Pension Plan. | ||||||||
| 10 | Kalshi | Financial Exchange | $40.0B | June 2026 | ||||
Industry:Financial Exchange Recent Deal:June 2026 Value Trend: Company DescriptionKalshi is an event contract exchange platform that allows users to trade on the outcome of future real-world events. Recent NewsOn May 29, 2026, Kalshi launched the first regulated bitcoin perpetual futures contract in the United States after receiving historic clearance from the Commodity Futures Trading Commission. Throughout late May 2026, the company engaged in multiple legal battles across Wisconsin, Minnesota, and Rhode Island to protect its federal jurisdiction against state gaming regulators. Additionally, the platform expanded its surveillance capabilities in May 2026 by appointing a former FBI analyst to oversee market integrity. Recent FinancingThe company is in discussions to secure a new round of venture capital. Pending FinancingKalshi is reportedly in discussions to raise new capital at a valuation of approximately $40 billion and is exploring plans for a potential initial public offering after 2026. | ||||||||
| 11 | Ripple | Blockchain Payments | $40.0B | November 2025 | ||||
Industry:Blockchain Payments Recent Deal:November 2025 Value Trend: Company DescriptionRipple offers a protocol using blockchain technology to modernize and streamline inefficient and costly cross-border payment systems between banks. Recent NewsOn June 11, 2026, Ripple partnered with Bitso to launch a Mexican peso-backed stablecoin (MXNB) on the XRP Ledger to facilitate cross-border payments. Additionally, on June 23, 2026, the Commission de Surveillance du Secteur Financier of Luxembourg granted Ripple preliminary approval for a Crypto Asset Service Provider license under the European Union's new Markets in Crypto Assets regulation. Recent FinancingThe company secured $500 million in venture capital from Citadel Securities, Fortress Investment Group, and Galaxy Digital, along with C1 Fund. | ||||||||
| 12 | Figure AI | Humanoid Robotics | $39.0B | May 2025 | ||||
Industry:Humanoid Robotics Recent Deal:May 2025 Value Trend: Company DescriptionFigure AI is developing general-purpose humanoid robots designed to assist with everyday tasks in unpredictable environments using advanced artificial intelligence. Recent NewsOn May 26, 2026, Figure AI announced a commercial partnership with Catalyst Brands to deploy its humanoid robots for automating sorting and packing tasks at a distribution center in Nevada. Earlier in May 2026, the company shared results from a 200-hour autonomous stress test where its F.03 robots successfully sorted nearly 250,000 packages. Additionally, on April 29, 2026, the company announced it was ramping up production of the Figure 03 model to meet industrial demand. Recent FinancingFigure AI secured $1.5 billion in Series C venture funding, led by Parkway Venture Capital, with participation from Intel Capital and Microsoft. Pending FinancingFigure AI is reportedly in talks to raise new funding at a $39.5 billion valuation. | ||||||||
| 13 | Prometheus | Physical AI | $38.0B | April 2026 | ||||
Industry:Physical AI Recent Deal:April 2026 Value Trend: Company DescriptionProject Prometheus develops "physical AI" systems focused on engineering, manufacturing, and industrial applications in sectors like computers, automobiles, aerospace, and spacecraft. Recent NewsIn May 2026, Project Prometheus recruited xAI co-founder Kyle Kosic to lead its AI infrastructure projects. Co-CEOs Jeff Bezos and Vik Bajaj gave their first public interview on CNBC on June 11, 2026, revealing plans to build an "artificial general engineer" to modernize physical product design and manufacturing. Reports from April 2026 also indicate the startup has scaled to roughly 120 employees across offices in San Francisco, London, and Zurich. Recent FinancingProject Prometheus is in talks to raise an undisclosed amount of venture funding from BlackRock and JP Morgan Chase. Pending FinancingProject Prometheus is reportedly considering establishing a separate holding company structure to expand its funding pool by up to $100 billion. | ||||||||
| 14 | Safe Superintelligence | Artificial Intelligence | $32.0B | April 2025 | ||||
Industry:Artificial Intelligence Recent Deal:April 2025 Value Trend: Company DescriptionSafe Superintelligence develops extremely powerful artificial intelligence systems by prioritizing safety and long-term research over immediate commercial demands. Recent NewsIn early February 2026, senior software engineer Shahar Papini left the company to co-found a new startup focused on AI verification. Reports from April 2026 highlight the company's continued focus on a research-centric business model that prioritizes safety over immediate commercial products or revenue. Additionally, the company has grown to approximately 40 employees while developing new scientific principles to address limitations in current large language models. Recent FinancingSafe Superintelligence secured $2 billion in venture funding from Greenoaks Capital Partners, Nvidia, and Lightspeed Venture Partners. | ||||||||
| 15 | VAST Data | AI Infrastructure | $30.0B | February 2026 | ||||
Industry:AI Infrastructure Recent Deal:February 2026 Value Trend: Company DescriptionVAST Data provides a unified software platform that integrates storage, database, and computing functions to replace traditional hard drives with high-performance flash infrastructure for large-scale artificial intelligence workloads. Recent NewsOn May 29, 2026, Mistral Compute adopted the VAST AI operating system as the data foundation for its Nvidia-accelerated AI factories in Europe. Megaport also selected VAST Data on June 18, 2026, to serve as the AI data layer for its global network and compute platform. Additionally, on June 29, 2026, Germany's national climate computing center modernized its critical infrastructure with VAST Data to advance modern climate research. Recent FinancingThe company raised $1B in a Series F round led by Drive Capital and Access Industries, with Fidelity, NEA, and NVIDIA participating. Pending FinancingVAST Data is preparing for a potential initial public offering but has not yet established a firm timeline for the event. | ||||||||
| 16 | Motional | Autonomous Vehicles | $28.2B | August 2025 | ||||
Industry:Autonomous Vehicles Recent Deal:August 2025 Value Trend: Company DescriptionMotional develops and deploys advanced, fully driverless vehicles to bring autonomous ride-hailing services to market. Recent NewsOn March 13, 2026, Motional and Uber relaunched a commercial robotaxi service in Las Vegas, deploying all-electric IONIQ 5 vehicles to riders at key locations including the Strip and Downtown. Additionally, in late March 2026, the company's leadership detailed a strategic shift toward licensing its autonomous technology to other mobility platforms to ensure more cost-effective and scalable deployments. Recent FinancingThe company received KRW 629.1 billion in venture funding from Hyundai Motors Group. | ||||||||
| 17 | Reflection AI | Artificial Intelligence | $27.5B | May 2026 | ||||
Industry:Artificial Intelligence Recent Deal:May 2026 Value Trend: Company DescriptionReflection AI develops autonomous agents and open-source models designed to automate the complete software engineering lifecycle, including code comprehension, debugging, and system design. Recent NewsOn May 26, 2026, Reflection AI established a policy and lobbying operation in Washington, D.C., to advocate for open-source AI as a national security imperative. The company also reached a deal with the Pentagon on May 1, 2026, to integrate its technology into classified computer networks. Previously, on March 16, 2026, Reflection AI partnered with the Shinsegae Group to build a 250-megawatt AI factory in South Korea. Recent FinancingReflection AI is securing $2.5 billion in Series C venture funding from Disruptive. Pending FinancingReflection AI is reportedly in talks to raise $2.5 billion in a fresh funding round at a proposed pre-money valuation of $25 billion, with potential participation from NVIDIA and JPMorgan Chase. | ||||||||
| 18 | Cognition | AI Software | $26.0B | May 2026 | ||||
Industry:AI Software Recent Deal:May 2026 Value Trend: Company DescriptionCognition develops artificial intelligence tools designed to independently plan and execute complex software engineering tasks. Recent NewsOn May 28, 2026, Cognition announced a strategic partnership with Fiserv to deploy its AI software engineer, Devin, to accelerate the modernization of core banking technology. Additionally, on May 21, 2026, the company launched a new capability allowing Devin to build, run, and test software natively within Windows virtual machines. Recent FinancingCognition secured Series D venture funding in a round led by 8VC, Lux Capital, and General Catalyst. | ||||||||
| 19 | Epic Games | Video Games | $22.5B | November 2024 | ||||
Industry:Video Games Recent Deal:November 2024 Value Trend: Company DescriptionEpic Games develops popular video games and provides the foundational creation software and digital storefront used by developers to build and distribute interactive content under more favorable financial terms than traditional platforms. Recent NewsOn June 30, 2026, the U.S. Supreme Court agreed to hear Apple's appeal regarding a contempt ruling stemming from its long-running App Store antitrust battle with Epic Games. Additionally, reports from June 30, 2026, indicated that Epic Games implemented a second major round of staff reductions, eliminating over 1,000 employees companywide earlier in the spring due to reduced Fortnite engagement. Recent FinancingEpic Games secured $1.5 billion in venture funding in a round led by The Walt Disney with participation from Qatar Investment Authority and Insight Capital Partners. Pending FinancingIt is rumored that senior executives at Disney want to buy Epic Games and are waiting for the right moment to make a bid for a full acquisition. | ||||||||
| 20 | Perplexity AI | Artificial Intelligence | $20.0B | September 2025 | ||||
Industry:Artificial Intelligence Recent Deal:September 2025 Value Trend: Company DescriptionPerplexity AI is an AI-powered search engine that delivers direct, cited, and conversational answers to user queries, fundamentally changing how information is retrieved online. Recent NewsOn May 28, 2026, CNN filed a lawsuit against Perplexity AI in the Southern District of New York, alleging the company unlawfully scraped and distributed thousands of copyrighted stories and videos. Perplexity expanded its product offerings by making its Personal Computer tool available for all Mac users on May 11, 2026, and integrating its search capabilities into Microsoft 365 apps on May 29, 2026. Additionally, in late May 2026, the company distributed Mac Minis to tech creators to promote its new local agentic computing features. Recent FinancingThe company secured a $1.4 billion Series C funding round with major participation from SoftBank Group, NVentures (NVIDIA), and Macquarie Capital. Pending FinancingPerplexity AI is reportedly in early talks to raise between $500 million and $1 billion in new funding at an $18 billion valuation, while its CEO has ruled out any plans for an initial public offering before 2028. | ||||||||
| 21 | Kraken | Cryptocurrency Exchange | $20.0B | November 2025 | ||||
Industry:Cryptocurrency Exchange Recent Deal:November 2025 Value Trend: Company DescriptionKraken is a major global platform that allows users to buy, sell, and trade a wide variety of digital assets and cryptocurrencies. Recent NewsIn April 2026, Kraken announced its intent to acquire the derivatives exchange Bitnomial for up to $550 million to expand its regulated trading offerings in the United States. During the same month, the company released financial disclosures reporting $2.2 billion in revenue for the 2025 fiscal year, a 33 percent increase over the previous year. Additionally, the company’s Wyoming-chartered bank, Kraken Financial, was granted a Federal Reserve master account by the Federal Reserve Bank of Kansas City earlier in the spring of 2026. Recent FinancingKraken secured $800 million in Series C venture funding, with the deal led by Jane Street, Oppenheimer Partners, and Tribe Capital. Pending FinancingKraken has confidentially filed for an initial public offering, though reports indicate the company has recently paused its plans due to market conditions. | ||||||||
| 22 | Helsing | Defense Technology | $18.0B | May 2026 | ||||
Industry:Defense Technology Recent Deal:May 2026 Value Trend: Company DescriptionHelsing develops artificial intelligence software and autonomous hardware, such as drones, to process sensor data and provide real-time battlefield insights for democratic military forces. Recent NewsOn May 19, 2026, Helsing and OHB established a joint venture named KIRK to develop tactical space-based reconnaissance systems. Additionally, the company expanded its European operations by opening a new office in Stockholm on April 19, 2026, to strengthen its commitment to Swedish and Nordic defense. Recent FinancingHelsing is reportedly raising venture funding in a deal led by Dragoneer Investment Group and Lightspeed Venture Partners. Pending FinancingHelsing is reportedly in advanced talks to raise $1.2 billion in a new funding round led by Dragoneer Investment Group and Lightspeed Venture Partners that would value the company at approximately $18 billion, though the round has not yet been officially confirmed. | ||||||||
| 23 | Deel | HR Technology | $17.3B | October 2025 | ||||
Industry:HR Technology Recent Deal:October 2025 Value Trend: Company DescriptionDeel provides a unified platform that automates the legal and financial complexities of hiring, paying, and managing a global workforce by acting as the employer of record in over 150 countries. Recent NewsOn March 20, 2026, the High Court set aside the joining of three Deel executives as defendants in an industrial espionage lawsuit brought by competitor Rippling. Deel later acknowledged on March 26, 2026, that it made a payment to a former Rippling employee involved in the case but denied allegations of seeking confidential information. Furthermore, on April 29, 2026, the company released findings indicating that AI trainer roles are its fastest-growing cross-border positions, experiencing a 283 percent increase in hiring. Recent FinancingDeel completed a $300 million Series E funding round and a $300 million secondary share sale with participation from Ribbit Capital, Andreessen Horowitz, and Coatue Management. Pending FinancingDeel is reportedly preparing for an initial public offering as soon as 2026. | ||||||||
| 24 | Rippling | Workforce Management | $16.8B | May 2025 | ||||
Industry:Workforce Management Recent Deal:May 2025 Value Trend: Company DescriptionRippling offers a single, unified platform that automates HR, IT, and finance, allowing businesses to manage everything from payroll to device setup for their global workforce in one system. Recent NewsOn May 27, 2026, Rippling opened its expanded European headquarters in Dublin and announced plans to add 150 new jobs to its Irish workforce over the next year. Previously, the company launched Automated Compliance on April 28 to streamline SOC 2 audit readiness and introduced Rippling AI on March 18 to automate tasks across human resources, IT, and finance departments. Recent FinancingThe company secured $460 million in Series G venture funding from Goldman Sachs Growth Equity, Elad Gil, and Dubin & Co. The capital will be used for market expansion, product enhancements, and new product development. | ||||||||
| 25 | Sierra | Conversational AI | $15.8B | May 2026 | ||||
Industry:Conversational AI Recent Deal:May 2026 Value Trend: Company DescriptionSierra provides AI technology that enables businesses to create more human-like and effective customer experiences. Recent NewsOn May 28, 2026, Sierra expanded its international presence by opening a new office in Toronto. During March and April 2026, the company launched Ghostwriter, a tool for autonomously building AI agents, and introduced its first Level 1 PCI-compliant payment capability to enable secure transactions within AI-driven conversations. Recent FinancingSierra secured $950 million in a blend of equity and debt funding led by Tiger Global Management and GV, with participation from Benchmark Capital Holdings. | ||||||||
| 26 | Helion | Energy Production | $15.5B | June 2026 | ||||
Industry:Energy Production Recent Deal:June 2026 Value Trend: Company DescriptionHelion develops pulsed magneto-inertial fusion technology to generate clean, abundant electricity directly from nuclear fusion reactions without relying on traditional steam turbines. Recent NewsOn June 16, 2026, Helion became the first company globally to secure the regulatory licenses required to operate a fusion power plant, receiving Radioactive Materials and Radioactive Air Emissions licenses from the Washington State Department of Health. Earlier, on February 13, 2026, the company announced that its Polaris prototype became the first privately developed machine to demonstrate measurable deuterium-tritium fusion and reach plasma temperatures of 150 million degrees Celsius. Additionally, court documents from a May 2026 hearing revealed that Sam Altman stepped down from Helion's board in March 2026 due to conflicts of interest while retaining a significant financial stake. Recent FinancingThe company raised Series G venture funding in a round led by Thrive Capital, with participation from SoftBank Investment Advisers and Alta Park Capital. Pending FinancingAs of 2026, it is unknown when Helion will go public, and there are no reported pending, rumored, or imminent financing events. | ||||||||
| 27 | Veeam | Data Protection | $15.0B | December 2024 | ||||
Industry:Data Protection Recent Deal:December 2024 Value Trend: Company DescriptionVeeam provides software that automates the backup, recovery, and management of data across virtual, physical, and cloud-based environments to ensure business continuity and resilience against cyber threats. Recent NewsOn June 3, 2026, Veeam introduced new agentic AI capabilities within its Veeam DataAI Command Platform to automate compliance and policy enforcement. Additionally, on June 9, 2026, Veeam released critical security patches to address a high-severity remote code execution vulnerability impacting its Backup & Replication software. Recent FinancingVeeam completed a $2 billion secondary equity offering and received a strategic investment from Microsoft, with participation led by TPG, Temasek, and Neuberger Berman Capital Solutions. Pending FinancingVeeam is reportedly planning to pursue an initial public offering in the future, though no definitive timetable has been set. | ||||||||
| 28 | Surge AI | Knowledge Management | $15.0B | July 2025 | ||||
Industry:Knowledge Management Recent Deal:July 2025 Value Trend: Company DescriptionSurge AI provides a platform that uses human intelligence to create high-quality, annotated data for training advanced artificial intelligence models like large language models. Recent NewsIn April 2026, founder Edwin Chen was recognized as the youngest newcomer to the Forbes 400 as Surge AI reached an annualized revenue of $1.2 billion. The company previously faced a class action lawsuit in May 2025 regarding the alleged misclassification of its data annotators as independent contractors. Furthermore, leaked internal documents from July 2025 revealed the specific safety guidelines and restricted web sources used to train advanced artificial intelligence models. Recent FinancingThe company is in talks to raise venture funding from undisclosed investors. Pending FinancingSurge AI is reportedly in discussions to raise approximately $1 billion in its first external funding round, targeting a valuation between $15 billion and $25 billion. | ||||||||
| 29 | Applied Intuition | Autonomous Vehicle Software | $15.0B | June 2025 | ||||
Industry:Autonomous Vehicle Software Recent Deal:June 2025 Value Trend: Company DescriptionApplied Intuition provides software and AI stacks to help manufacturers develop, validate, and deploy autonomous driving and advanced driver-assistance systems for vehicles across multiple industries. Recent NewsOn May 14, 2026, the Department of War's CDAO selected Applied Intuition to build the software platform for its Autonomy Factory program. Stellantis expanded its strategic technology partnership with the company on May 21, 2026, to support the development of its STLA Brain vehicle software platform. Additionally, Applied Intuition expanded its Self-Driving System into Japan on June 16, 2026, to bring its autonomy platform to dense urban environments. Recent FinancingApplied Intuition secured $600 million in Series F venture funding, with Kleiner Perkins, BlackRock, and CE-Ventures as key investors. Pending FinancingApplied Intuition's CEO has stated that an initial public offering is a short-term goal for the company, pending market conditions. | ||||||||
| 30 | Nscale | AI Infrastructure | $14.6B | March 2026 | ||||
Industry:AI Infrastructure Recent Deal:March 2026 Value Trend: Company DescriptionNscale provides vertically integrated, renewable-powered data centers and specialized computing clusters designed to handle the massive processing requirements of large-scale artificial intelligence models. Recent NewsOn April 23, 2026, BT Group and Nscale announced a partnership to develop 14 megawatts of sovereign AI data center capacity across existing telecommunications infrastructure sites in the United Kingdom. This followed reports on April 9, 2026, that OpenAI paused the Stargate UK project, a major collaborative infrastructure initiative in which Nscale was a primary partner. On May 26, 2026, Nscale signed a power purchase agreement with Vattenfall to secure renewable energy for the first phase of its 230MW data center development in northern Norway. Recent FinancingNscale raised $2 billion in Series C funding and secured a $1.4 billion financing package with participation from Aker ASA, 8090 Industries, and Nvidia. Pending FinancingNscale is reportedly in rumored talks to raise an additional $2.7 billion in financing for its AI infrastructure buildout. | ||||||||
| 31 | Skild AI | Knowledge Management | $14.0B | January 2026 | ||||
Industry:Knowledge Management Recent Deal:January 2026 Value Trend: Company DescriptionSkild AI develops a universal, adaptable AI brain that enables any robot to perform diverse tasks in the physical world. Recent NewsOn April 15, 2026, Skild AI acquired Zebra Technologies' Robotics Automation business to deploy its general-purpose robot intelligence across warehouse infrastructure. Previously, in March 2026, the company established strategic partnerships with ABB Robotics, Universal Robots, and NVIDIA to integrate its omni-bodied robotic brain across various industrial sectors. Recent FinancingThe company secured a $1.4 billion Series C funding round with major participation from SoftBank Group, NVentures (NVIDIA), and Macquarie Capital. | ||||||||
| 32 | Baseten | AI Infrastructure | $13.0B | June 2026 | ||||
Industry:AI Infrastructure Recent Deal:June 2026 Value Trend: Company DescriptionBaseten provides cloud infrastructure and specialized software tooling that allows businesses to deploy, scale, and run machine learning models in production without managing underlying server or GPU setups. Recent NewsNo major non-financing news within the last 12 months. Recent FinancingThe company raised $1.5 billion of Series F venture funding in a round led by Sands Capital, Spark Capital, and Wellington Management. Pending FinancingBaseten is reportedly in rumored talks to raise between $1 billion and $1.5 billion in a split-priced financing round that would value the company at an estimated $11 billion to $13 billion. | ||||||||
| 33 | Shield AI | Defense Technology | $12.7B | March 2026 | ||||
Industry:Defense Technology Recent Deal:March 2026 Value Trend: Company DescriptionShield AI develops artificial intelligence software and autonomous aircraft that enable drones and fighter jets to navigate and complete missions in environments where GPS and communications are unavailable. Recent NewsOn June 17, 2026, the U.S. Air Force awarded Shield AI a production contract for Collaborative Combat Aircraft mission autonomy. Previously, on May 19, 2026, the company was selected by the Pentagon to integrate its Hivemind autonomy software into the Low-Cost Uncrewed Combat Attack System program to enable intelligent drone swarming. Additionally, Shield AI expanded its global footprint on April 29, 2026, by opening a new office in New Delhi to strengthen its operations in India. Recent FinancingShield AI secured a $2 billion Series G funding round and preferred equity financing with participation from Advent International, JPMorgan Chase, and Blackstone. | ||||||||
| 34 | Labs Companies | Human-Enhancement Technology | $12.5B | August 2025 | ||||
Industry:Human-Enhancement Technology Recent Deal:August 2025 Value Trend: Company DescriptionLabs Companies develops artificial intelligence and augmented reality technology designed to digitize and integrate sensory experiences, such as taste, into social networking platforms. Recent NewsNo major non-financing news within the last 12 months. Recent FinancingLabs completed Series Seed and Series Seed II funding rounds along with a separate research and development round, with participation from JetDebt Finance, Jet Investments Group, and JET Venture Capital. Pending FinancingLabs Companies is reportedly preparing for its upcoming Seed 3 and Series A financing rounds, with discussions actively underway with potential corporate venture capital and private equity investors. | ||||||||
| 35 | Iceye | Space Technology | $12.2B | June 2026 | ||||
Industry:Space Technology Recent Deal:June 2026 Value Trend: Company DescriptionICEYE operates a constellation of miniaturized radar satellites to provide all-weather, near-real-time Earth observation and imagery regardless of daylight or cloud cover. Recent NewsOn June 29, 2026, Iberdrola selected ICEYE to deploy satellite-based disaster management tools to strengthen its electricity grid against extreme weather. Previously, Portugal acquired two additional synthetic aperture radar satellites on June 17, 2026, to expand its sovereign intelligence capabilities. Additionally, on May 15, 2026, the company successfully delivered a four-satellite reconnaissance constellation to the Polish armed forces. Recent FinancingThe company secured an estimated EUR 1 billion of Series F venture funding and EUR 300 million of debt financing in a round led by General Atlantic, Ilmarinen Mutual Pension Insurance, and Nokia. Pending FinancingIceye has long teased a potential initial public offering, though no definitive timeline has been set. | ||||||||
| 36 | Airwallex | Financial Technology | $12.0B | May 2026 | ||||
Industry:Financial Technology Recent Deal:May 2026 Value Trend: Company DescriptionAirwallex provides a global financial platform that bypasses traditional banking systems to allow businesses to manage cross-border payments, multi-currency accounts, and expenses through its own proprietary infrastructure. Recent NewsOn June 4, 2026, Airwallex acquired the financial lifecycle platform Leapfin to automate revenue recognition and reconciliation for global finance teams. The company also expanded its AI-driven product suite on June 25, 2026, by introducing T:0, an autonomous finance platform, and Airi, an agentic consumer wallet designed to reduce payment friction. Additionally, Airwallex launched the Latitude 37 initiative on April 30, 2026, pledging $1 million annually to support early-stage AI founders in Australia. Recent FinancingAirwallex secured an undisclosed amount of venture funding in a round led by Addition. Pending FinancingWhile Airwallex has raised a Series H funding round and appointed a new CFO, its CEO recently indicated that the company could delay a public listing because investment in AI development has made its margins too volatile to go public. | ||||||||
| 37 | Clear Street | Capital Markets | $12.0B | January 2026 | ||||
Industry:Capital Markets Recent Deal:January 2026 Value Trend: Company DescriptionClear Street replaces fragmented, outdated capital markets infrastructure with a single, cloud-native platform that offers institutional clients real-time clearing, financing, and trading capabilities. Recent NewsOn May 14, 2026, Clear Street launched a new trading app that provides individual traders with the same institutional-grade infrastructure and AI-driven tools used by large firms. The company also established a strategic partnership with Kalshi on May 1, 2026, to offer regulated institutional access to prediction markets and event contracts. Earlier, on March 23, 2026, Clear Street expanded its unified platform to include institutional digital asset trading for cryptocurrencies and stablecoins. Recent FinancingClear Street's Series C financing totaled $135.39 million, with notable backing from Baillie Gifford, SBI Holdings, and BlackRock Inc. Pending FinancingClear Street officially withdrew its registration for a planned initial public offering in February 2026, postponing its plans to go public. | ||||||||
| 38 | OpenEvidence | Medical Information | $12.0B | December 2025 | ||||
Industry:Medical Information Recent Deal:December 2025 Value Trend: Company DescriptionOpenEvidence is an artificial intelligence company that develops a medical search engine to assist physicians with clinical decision support. Recent NewsOn March 10, 2026, OpenEvidence reached a historic milestone by facilitating one million clinical consultations within a single 24-hour period. Additionally, in June 2026, Pathway Labs announced a strategic partnership with OpenEvidence to integrate and deploy EchoNext, its FDA-cleared multicondition AI cardiology tool, to clinicians nationwide. Recent FinancingOpenEvidence received $250 million in venture funding. | ||||||||
| 39 | Cyera | Cybersecurity | $12.0B | June 2026 | ||||
Industry:Cybersecurity Recent Deal:June 2026 Value Trend: Company DescriptionCyera develops an automated data security platform that uses artificial intelligence to continuously discover, classify, and secure sensitive enterprise information across cloud and on-premises environments. Recent NewsOn June 2, 2026, Cyera announced a strategic partnership with Snowflake to advance secure AI agent adoption across enterprises. Previously, the company acquired Ryft on April 23, 2026, to expand its agentic AI security platform and achieved a FedRAMP High "In Process" designation on April 2, 2026, to securely accelerate government AI adoption. Recent FinancingThe company raised $600 million of Series G venture funding in a round led by Evolution Equity Partners, AT&T Ventures, and Coatue Management. Pending FinancingSomething went wrong. Try again. | ||||||||
| 40 | Whatnot | Live Commerce | $11.5B | October 2025 | ||||
Industry:Live Commerce Recent Deal:October 2025 Value Trend: Company DescriptionWhatnot operates a live-stream shopping platform that lets users buy and sell collectibles and unique items in real-time auctions. Recent NewsOn June 18, 2026, it was reported that Whatnot sellers officially crossed one billion orders, marking a major milestone as the platform moves beyond its original collectibles focus into categories like fashion and luxury goods. The live-shopping marketplace continues to see high transaction volumes, with more than 20 items sold every second on the app. Recent FinancingWhatnot secured $225.00 million in Series F venture funding from major investors including CapitalG, DST Global, and Andreessen Horowitz. | ||||||||
| 41 | ElevenLabs | AI Audio | $11.0B | February 2026 | ||||
Industry:AI Audio Recent Deal:February 2026 Value Trend: Company DescriptionElevenLabs is an artificial intelligence company that develops models to create highly realistic, customizable human-like voices for content and interactive applications. Recent NewsOn June 11, 2026, ElevenLabs introduced Avatars in ElevenCreative, allowing users to create lip-synced talking-head videos from scripts and voices. Additionally, on May 28, 2026, the company signed a memorandum of understanding with the UK government to integrate its voice AI into public services to improve accessibility. Earlier that month, on May 13, 2026, ElevenLabs was hit with a fresh lawsuit by a group of prominent journalists over the alleged unauthorized use of their voices. Recent FinancingElevenLabs raised $500 million in Series D venture funding led by Sequoia Capital, with participation from AMP Coalition and Smash Capital. | ||||||||
| 42 | Harvey | Legal Tech | $11.0B | February 2026 | ||||
Industry:Legal Tech Recent Deal:February 2026 Value Trend: Company DescriptionHarvey develops specialized artificial intelligence systems that automate complex legal tasks like contract analysis, regulatory compliance, and litigation research to streamline professional workflows. Recent NewsOn June 23, 2026, Harvey announced a multi-year partnership to become the legal AI partner of the Toronto Maple Leafs and revealed that Polish law firm WKB Lawyers deployed its platform firmwide. Additionally, the company introduced its Contract Intelligence tool for in-house teams on May 21, 2026, and rolled out its Command Center feature alongside a strategic partnership with DeepJudge on May 20, 2026. Recent FinancingHarvey secured $200 million in venture funding led by GIC and Sequoia Capital, with participation from General Catalyst. | ||||||||
| 43 | Notion | Knowledge Management | $11.0B | January 2026 | ||||
Industry:Knowledge Management Recent Deal:January 2026 Value Trend: Company DescriptionNotion is an AI-powered, all-in-one workspace that consolidates an organization's documents, projects, and knowledge base, allowing teams to manage all their work in one place. Recent NewsOn May 1, 2026, Notion updated its platform to allow Custom Agents to read and reply within private Slack channels, followed by the rollout of a new mobile home tab interface on May 4, 2026. Additionally, the company introduced "Plan Mode" on May 6, 2026, a feature designed to let AI agents clarify intent and outline multi-step workflows before executing significant workspace modifications. Recent FinancingA $270 million private tender offer for employee shares included investments from GIC, Sequoia Capital, and Index Ventures. Pending FinancingNotion is reportedly considering multiple rounds of financing in quick succession leading up to a potential initial public offering as early as the end of 2026. | ||||||||
| 44 | Colossal Biosciences | De-extinction Genetics | $10.3B | September 2025 | ||||
Industry:De-extinction Genetics Recent Deal:September 2025 Value Trend: Company DescriptionColossal Biosciences uses genetic engineering and reproductive technology to bring back extinct species and protect critically endangered ones. Recent NewsOn June 25, 2026, Colossal Biosciences announced a partnership with the U.S. Fish and Wildlife Service to biobank and preserve the genetic material of all species protected under the Endangered Species Act. Additionally, the company has announced the successful de-extinction of the dire wolf through the creation of genetically edited gray wolves. The company also unveiled a genetic biocontrol plan in June 2026 to eliminate the flesh-eating New World screwworm parasite in the United States. Recent FinancingColossal Biosciences secured $320 million in Series C venture funding, led by Thomas Tull, Mark Walter, and North Equity. Pending FinancingColossal Biosciences recently received a $60 million investment from the United Arab Emirates to fund its new BioVault repository in Dubai. | ||||||||
| 45 | WHOOP | Wearable Technology | $10.1B | March 2026 | ||||
Industry:Wearable Technology Recent Deal:March 2026 Value Trend: Company DescriptionWhoop develops a screenless wearable device that continuously monitors physiological data like heart rate variability and sleep to provide users with personalized recovery and performance analytics. Recent NewsOn June 24, 2026, the Food and Drug Administration officially dropped a warning letter against Whoop regarding its blood pressure insights feature after the company modified the tool to meet wellness device guidelines. Earlier, on May 21, 2026, the company introduced its new "WHOOP Coach" feature powered by OpenAI to deliver personalized health and fitness insights to its users. Recent FinancingWhoop raised $575 million in a Series G funding round led by Collaborative Fund, with participation from Qatar Investment Authority and Mubadala Investment Company. Pending FinancingWhoop is expanding its workforce ahead of a potential initial public offering that is planned on a horizon of 18 to 24 months. | ||||||||
| 46 | Mercor | Artificial Intelligence | $10.0B | October 2025 | ||||
Industry:Artificial Intelligence Recent Deal:October 2025 Value Trend: Company DescriptionMercor operates an AI talent platform that utilizes human workers to train its machines by generating data, fundamentally changing how workforce tasks contribute to AI development. Recent NewsA class action lawsuit was filed against Mercor alleging that the company misclassified its expert data-labeling workforce as independent contractors. Additionally, during a podcast appearance on June 1, 2026, CEO Brendan Foody revealed that the startup now spends more on AI inference tokens for internal agents than on human employee salaries. Earlier, on April 23, 2026, Mercor expanded its international footprint by opening a new office in London. Recent FinancingMercor secured $350 million in Series C venture funding, with notable investors including Felicis, General Catalyst, and Benchmark Capital Holdings. Pending FinancingInvestors have reportedly offered to arrange a new funding round of $100 million for Mercor Inc. that would value the startup at upwards of $10 billion, though its CEO has dismissed assertions that the company is holding discussions with those investors. | ||||||||
| 47 | Crusoe | AI Infrastructure | $10.0B | October 2025 | ||||
Industry:AI Infrastructure Recent Deal:October 2025 Value Trend: Company DescriptionCrusoe builds vertically integrated AI infrastructure by converting wasted natural gas into energy for high-performance computing clusters. Recent NewsOn June 9, 2026, Crusoe announced it had contracted 4.9 gigawatts of AI infrastructure capacity across its data centers and cloud platform. Around June 11, 2026, reports surfaced that Crusoe was being pushed aside from a major artificial intelligence data center campus it was developing in Wyoming after failing to lock in Alphabet Inc.'s Google as a customer. Additionally, in mid-June 2026, Meta Platforms secured new agreements to secure roughly 1.6 gigawatts of AI computing power from Crusoe's data centers in Texas and Missouri. Recent FinancingCrusoe raised $1.38 billion of Series E venture funding led by Valor Equity Partners and Mubadala Capital, with participation from Nvidia. Pending FinancingCrusoe is reportedly discussing an initial public offering as soon as 2027 and is in early talks to raise new private funding at a step-up from its previous $10 billion valuation. | ||||||||
| 48 | Thinking Machines Lab | Artificial Intelligence | $10.0B | June 2025 | ||||
Industry:Artificial Intelligence Recent Deal:June 2025 Value Trend: Company DescriptionThinking Machines Lab is building advanced artificial intelligence systems by integrating research and product development to ensure empirical and safety-focused deployment. Recent NewsOn April 23, 2026, Thinking Machines Lab signed a single-digit billion-dollar cloud agreement with Google to gain access to its AI Hypercomputer infrastructure for training next-generation frontier models. Additionally, the company announced a research preview of its interaction models handling real-time audio, video, and text on May 11, 2026, followed by the launch of interactivity research grants offering $100,000 plus Tinker credits on May 19, 2026. Recent FinancingThe company raised $2 billion of seed funding in a deal led by Andreessen Horowitz, with participation from Nvidia and ServiceNow Ventures. Pending FinancingThinking Machines Lab was reportedly in talks to raise a new funding round at a rumored valuation of around $50 billion, though reports indicate those specific high-valuation discussions later stalled or collapsed without a deal. | ||||||||
| 49 | Neuralink | Medical Devices | $9.7B | January 2025 | ||||
Industry:Medical Devices Recent Deal:January 2025 Value Trend: Company DescriptionNeuralink is developing implantable brain-machine interfaces designed to connect humans with computers and eventually facilitate direct neural communication. Recent NewsIn May 2026, Neuralink announced it successfully performed its first transdural brain implant surgery during a clinical trial at Toronto Western Hospital, introducing a method designed to make implantation less invasive by avoiding cutting the brain's dura membrane. Additionally, seven patients in the United Kingdom were reportedly fitted with the brain chip, expanding the global total of active participants using the telepathic interface to 21. Recent FinancingRaised $650 million of Series E venture funding from Group 42 Holding, SaxeCap, and 1802 Ventures. | ||||||||
| 50 | Polymarket | Prediction Market | $9.6B | March 2026 | ||||
Industry:Prediction Market Recent Deal:March 2026 Value Trend: Company DescriptionPolymarket is a blockchain-based prediction market that allows users to bet on the outcome of real-world events, creating a real-time, useful measure of public belief on future outcomes. Recent NewsIn late June 2026, reports surfaced that Polymarket is under federal investigation by the Commodity Futures Trading Commission following a Wall Street Journal report detailing a deceptive marketing campaign that paid influencers to stage fake betting wins. This follows a June 26, 2026, lawsuit filed against the platform, its CEO, and its CMO over the same hidden influencer promotions. Additionally, in late May 2026, a Google software engineer was charged with insider trading for allegedly making over $1.2 million using confidential company data to bet on the platform. Recent FinancingPolymarket raised a $2 billion strategic investment and $600 million direct cash investment with participation from Intercontinental Exchange, Founders Fund, and Blockchain Capital. Pending FinancingPolymarket is reportedly eyeing a $50 million fundraise that would potentially feature a token launch allowing users to validate the outcomes of real-world events. | ||||||||
Data that informs the Disrupt 50 index is collected as of the last day of the previous month.
Metric definitions:
- Rank: Based on the most recently available post money value estimate.
- Move: The rank move from the previous month.
- Post Money: The most recently disclosed or estimated post money value based upon available information.
- Recent Deal: The most recent deal either publicly disclosed or announced.
- Value Trend: The trend in post money value. A down arrow suggests that the most recent round was a down round.
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Data Sources: S&P Global Market Intelligence and PitchBook Data, Inc. Data was also retrieved from various sources using Google's Gemini.