Just a few weeks ago, the Prime Unicorn Index underwent its quarterly reconstitution, which saw the addition of five new components and the removal of one component in the composite index. This quarter’s new additions include Supplying Demand (DBA: Liquid Death), GoForward (DBA: Forward), Zum Services, Gradiant, and Commerce Fabric (DBA: Fabric).
Liquid Death sells canned spring water with a focus on heavy-metal-inspired branding. Their product line includes both still and sparkling water packaged in tallboy cans. The company last raised a $67.61 million Series F in November 2023 at $12.87 a share, which values the company at $1.28 billion on a post-money valuation basis. Investors include Suro Capital, Science, Inc., Creek Capital, Live Nation, Velvet Sea Ventures, Convivialite Ventures, and others.
Forward provides personalized primary care through a primary care membership that covers healthcare services such as unlimited visits, genetic testing, and heart screening. In November 2023, the company raised a $100 million Series E at $9.70 per share, putting Forward at a $1.25 billion post-money valuation. Investors include Founders Fund, Khosla Ventures, Softbank, iNovia Capital, and others.
Zum Services provides scheduled or on-demand rides and care for children and youth. It offers single-family or carpool rides for school drops or pickups and sports activities, among other services. In January 2024, Zum raised a $140 million Series E at $7.40 per share, valuing the company at $1.2 billion on a post-money valuation basis. Investors include Sequoia, Softbank, BMW i Ventures, GIC, Spark Capital, Draper Nexus Ventures, Clearvision, Volvo Cars Tech Fund, NGP Capital, and others.
Gradiant is a global provider of advanced water and wastewater treatment solutions. Its focus is on sustainable technologies that cater to various industries and aim to reduce, reclaim, and renew water resources. In May 2023, Gradiant raised a $225 million Series D at $20.07 per share, giving it a post-money valuation just north of $1 billion. Investors include Schlumberger, Centaurus Capital, BoltRock Holdings, and Warburg Pincus, among others.
Fabric is a headless commerce platform purpose-built for growth. It last raised a $220 million Series C in February 2022 at $21.17 per share, which put the company at a $1 billion post-money valuation. Investors include Softbank, Glynn Capital, Norwest Venture Partners, Stripes Group, Redpoint Ventures, Forerunner Ventures, Sierra Ventures, Greycroft Partners, B Capital, and Expa.
