This week marks the quarterly reconstitution of both the Composite and Top 30 Indexes. Let’s take a look and see what’s changed.
In the Top 30 Index, Navan fell below the threshold and was removed following a secondary transaction. It is still a component of the Composite Index. It was replaced by Farmer’s Business Network, the 18th largest component in both Indexes.
In the Composite Index, Thoughtspot, Socure, Veho Tech, Lessen, and Roofstock were all removed after falling below a valuation of $1 billion. These removals were caused by a mix of secondary transactions, internal markdowns, and authorized down rounds.
Three new companies joined the Composite Index: Cribl, Oyster HR, and Arsenal Biosciences.
All three components raised a new round of funding in recent months that valued the companies over $1 billion.
Be on the lookout for more detailed information on the new components, as well as our updated Fact Sheets and Reconstitution Reports!