Overview

A Unicorn Company is a privately owned startup that reaches a valuation of over $1 billion without being listed on the stock market.

The term “unicorn” was coined in 2013 by venture capitalist Aileen Lee, who used it to emphasise the rarity of such successful startups. At the time, only 39 companies qualified as unicorns. Lee wanted to capture the exceptional and nearly mythical nature of creating such a company. 

We wanted the term to feel special; because it’s rare, almost magical to build a unicorn company,

Lee explained in an interview with TechCrunch+

As of early May 2024, there are 1,530 companies identified as unicorns worldwide, according to Crunchbase. However, the emergence of new unicorns has slowed, with fewer than 100 companies achieving this status in 2023—the lowest in over five years. In 2023, the AI sector led with 20 new unicorns, while other significant contributions came from fintech, cleantech and energy, and semiconductors.

In the upcoming section, we will analyse several companies that reached unicorn status in 2023. Our focus will be on their naming and domain strategies, exploring how they’ve crafted their brand identities and solidified their online presence in the market. This will provide insights into the importance of strategic branding and online visibility for companies achieving this significant milestone.

Namepicks

Keyfactor

Keyfactor is a leading provider of secure digital identity management solutions, trusted by more than 1,500 enterprises across the globe. The company was established in 2001 under the name Certified Security Solutions (CSS) but rebranded to Keyfactor in 2018. 

The CSS name has its roots in our history as a consulting company. And from that heritage of advising the world’s leading brands we have transformed into the software platform we are today. The new Keyfactor brand is focused on the innovation that our customers deliver in the face of constant pressures to improve their cyber defense, lower costs and connect all people, applications and devices across the enterprise. We’re focused on developing the products and solutions that give enterprises the freedom to secure the next generation of connected devices.

Kevin von Keyserling, CEO & CO-Founder of Keyfactor

In October 2023, Keyfactor reached a valuation of $1.3 billion after receiving a minority investment from Sixth Street Group and became the newest member of the cybersecurity unicorn club.

The company’s choice of an Exact Brand Match (EBM) .com domain name, Keyfactor.com, strengthens its online presence and boosts its marketing efforts across all channels, taking advantage of the widespread appeal of .com domain names among internet users.

Cart.com

Cart.com is a premier provider of unified commerce and logistics solutions, helping B2C and B2B companies master omnichannel commerce, from product discovery to order delivery. In June 2023, the company achieved unicorn status after securing $60 million in a Series C funding round, elevating its valuation to $1.2 billion. The funding round saw participation from B. Riley Venture Capital, Kingfisher Investment Advisors, Prosperity7 Ventures, Snowflake Ventures, Legacy Knight, and other investors.

We are proud to partner with this prestigious group of investors to accelerate our growth and continue to deliver best-in-class solutions to our customers. As a leading commerce software and services provider, we are focused on enabling our customers to compete and win across every channel through digital tools and digitally driven logistics capabilities. We will continue to invest in our industry-leading commerce data capabilities, which are built to address the specific inventory, channel, and supply chain challenges facing enterprises.

Omair Tariq, CEO and Co-Founder of Cart.com

Dictionary word .com domains like Cart.com are highly valued because they are short, simple, and easy to remember, making them highly attractive for branding and marketing purposes. These premium domains are considered strategic assets that greatly enhance a company’s brand identity and standing in the market.

Using the .com extension in a brand name is a common tactic among owners of high-value domains, seen in examples like Hotels.com, Booking.com, Crypto.com, and others. This method makes it easier for customers to find and remember the brand, directly improving access. It also reduces dependence on third-party platforms, improving the customer experience and boosting the brand’s online presence.

Tamara

Founded in 2020 by Saudi co-founders Abdulmajeed Alsukhan, Turki Bin Zarah, and Abdulmohsen Al Babtain, Tamara is a fintech platform that offers shopping, payment, and banking solutions across Saudi Arabia and the broader GCC region. The company is one of the first to be granted a permit from the Saudi Central Bank (SAMA) to provide Buy Now, Pay Later (BNPL) services. In December 2023, Tamara reached a significant milestone by becoming the first homegrown fintech unicorn in the Kingdom, securing $340 million in a Series C equity funding round.

Saudi Arabia deserves its place on the world stage for financial technology. Just as Tamara was created by local entrepreneurs, nurtured by a supportive local ecosystem and market regulators, we stand here today, humbled and hungry, ready for our own leapfrog moment. This achievement is a testament to the ecosystem, to our incredible team, investors, and the collaborative spirit that makes this region a great place for talent to flourish. As we set our sights on becoming the next big giant in shopping, payments and banking we remain ever grateful for the significant opportunity in this underpenetrated and underserved banking and financial services landscape. Furthermore, The Saudi Central Bank (SAMA) has been instrumental in creating an enabling environment for Saudi companies like Tamara to grow and innovate in the Saudi fintech sector.

Abdulmajeed Alsukhan, Co-founder and CEO of Tamara

The name Tamara lends a unique and personal touch to the brand. It is a feminine name with diverse origins, including Hebrew, Arabic, Spanish, Hindi, Sanskrit, and Russian. The name means “date,” “date palm,” or “palm tree.”  Using a personal name for a brand can create a friendly and trustworthy image, making it easier for customers to connect with and remember the company. The company operates on the domain Tamara.com; it exactly matches its brand name, and the .com extension is what visitors intuitively lean towards when typing a web address.

Tamara has been featured in our monthly funding report: December 2023 Funded Startups and Their Domain Name Choices.

Prove

Prove is an identity verification and authentication platform trusted by over 1,000 leading companies to reduce fraud and enhance customer experiences. Originally founded in 2008 as Payfone, the company changed its name to Prove in 2020 to prevent confusion and more accurately represent its evolving role in the industry.

The name made a lot of sense for the company when we were founded as a way to make mobile purchases, but as we evolved over the years into a leader in the identity verification and authentication space, it became downright confusing. While it always made for a fun ice breaker on initial meeting calls—“So what kind of payphones do you guys sell? Har har.”—It was no secret that our perplexing name was holding us back from the company we wanted to be.

Yuka Yoneda, VP of Marketing

In October 2023, Prove secured $40 million in funding, reaching unicorn status with a valuation exceeding $1 billion.

As our daily lives become increasingly digital, Prove’s mission is to be the global standard for fast, secure and privacy-first digital identity. This funding will further our work toward comprehensive digital identity solutions that secure the future for all.

Rodger Desai, Co-founder and CEO of Prove

As part of the rebrand, the company acquired the premium EBM domain name Prove.com. 

In our recent article, entrepreneurs shared the advantages of investing in a premium domain name for their businesses. They noted improvements in brand recognition, enhanced customer trust, and an easy-to-remember web address.

Colossal Biosciences

Colossal is a pioneering bioscience and genetic engineering company focused on creating innovative technologies to advance genomics research. The company specialises in developing disruptive solutions for restoring extinct species, protecting critically endangered species, and repopulating essential ecosystems crucial for sustaining life on Earth. Colossal stands out as the first to utilise CRISPR technology for species de-extinction, beginning its efforts with the woolly mammoth and the Dodo Bird. The company was founded in 2021 by George Church and Ben Lamm, and is based in Dallas, Texas.

In January 2023, Colossal raised $150 million in a Series B funding round, reaching a valuation of over $1 billion.

The World Wildlife Fund found that in the last 50 years, Earth’s wildlife populations have plunged by an average of 69% at the hands of mankind. By gathering the smartest minds across investing, genomics, conservation and synthetic biology, we have the opportunity to reverse human-inflicted biodiversity loss while developing technologies for both conservation and human healthcare. We are honored to be backed by a dedicated and diverse group of investors and are excited to work to bring additional species back to the planet.

Ben Lamm, co-founder and CEO of Colossal

The company has invested in both ColossalBiosciences.com and Colossal.com, strengthening its online brand presence. A good domain strategy is an essential element in building a strong brand identity, facilitating increased engagement with the business.

Highlights

Among the companies listed, 64 out of 80 operate under the .com domain extension. The .com extension is widely trusted by customers globally, having been a dominant force on the internet for many years.

47 companies on the list have secured Exact Brand Match (EBM) domain names for their online presence. Securing an EBM domain name is a valuable strategy for enhancing trust and credibility online, key factors in establishing lasting customer relationships and gaining a competitive advantage.

4 companies use a dash in their domain name, which can make the domain name harder to remember and create confusion.

While we make every effort to ensure the data on our site is accurate, complete, and up-to-date, we cannot guarantee its reliability. Our data is provided for informational purposes only and should not be relied upon as legal, financial, or other advice. We strongly recommend that you independently verify any information before relying on it.

A premium domain name is a powerful tool for businesses looking to establish a strong and professional online presence. If you’re ready to upgrade your brand and boost your online presence, contact us for more information on our premium domain name options and how they can help your business succeed.

Other resources

2023 branding business domain domain name domain names domains naming unicorn unicorns