Number of Israeli-founded California unicorns hits new record
Number of Israeli-founded California unicorns hits new record
The 35 companies have created a total of 31,985 jobs worldwide
California this year serves as the global or U.S. headquarters for 35 Israeli-founded unicorns, according to the United States - Israel Business Alliance. The new figures confirm that The Golden State is home to the largest number of Israeli-founded companies at one time, followed by New York (30) and Massachusetts (10).
“Despite a dizzying multi-year stretch that has seen disruptions to international travel, breaks in the global supply chain, and a shaky economy, California remains a prime destination for Israeli entrepreneurs to build powerhouse tech companies,” said USIBA president Aaron Kaplowitz. “The mystique around the ‘Start-Up Nation’ is certainly an effective marketing tool, nevertheless, these companies are creating thousands of local jobs and enriching communities.”
The 35 Israeli-founded unicorn companies have combined created approximately 31,985 direct jobs around the world. The three largest job creators are Armis with 5,000 employees, Navan with 3,000, and SpotOn with 2,526.
The three Israeli-founded companies with the highest valuations in America all have their global or U.S. headquarters in California: these include Rapyd ($15 billion), Deel ($12 billion), and Gusto ($10 billion).
Last year, California cited 32 unicorns marking a 10% increase year over year. New additions include data observability platform Monte Carlo, battery maker StoreDot, and Visby Medical, a PRC-based health diagnostics company.
It comes as no surprise that San Francisco has the most Israeli-founded unicorns than any other city in California with 14 of them calling it home. Since all 30 of New York State’s equivalents are all based in the city, this makes the Big Apple the city with the most Israeli-founded unicorns. Palo Alto has five and San Jose has four, respectively.
California lost one unicorn when cybersecurity company Wiz relocated its headquarters to New York. The move made it immediately the most valuable in the state ($10 billion) and the third biggest Israeli-founded employer with 833 employees.
Other notable companies in California include At-Bay, Fundbox, HoneyBook, and Noname Security, which recently announced a partnership with Wiz to secure cloud infrastructure.
The companies’ valuations and direct jobs created figures were provided by the United States – Israel Business Alliance and are estimates based on data resources, publicly available information online, and conversations with executives and industry players. The estimates may not reflect current values.
