The IPO market has not performed well this year due to a decrease in venture funding and fewer startups entering the public market. It is expected that 2023 will be a comeback year for IPOs. The following companies are predicted by Crunchbase News staff to potentially go public in the upcoming year, some of which were also predicted in their previous edition of this list for 2022. It was not anticipated at the time that the IPO market would struggle as it has. These are potential candidates for public debuts, if and when IPOs begin to occur again.
#1 Arctic Wolf
A Cybersecurity provider, raised $401MM in convertible notes in October 2021, led by existing investor Owl Rock. Prior to this funding round, Arctic Wolf had raised $150MM in a Series F round in July 2021, taking its valuation from $1.3B to $4.B. The company's CEO had previously stated that an IPO was the next logical move, but the market has since changed.
A San Francisco-based company that creates tools and products to help companies view structured and unstructured data in a single location, ended 2021 with more than $800MM in annual recurring revenue. In August 2021, the company raised $1.6B in a Series H funding, taking its post-money valuation to $38B. Despite having expressed interest in going public in the past, the company's high valuation may be preventing it from doing so at this time.
Global freight forwarder and logistics platform, raised $935MM in a Series E funding round in February 2021, led by Andreessen Horowitz and MSD Partners, at an $8B valuation. In 2021, the company moved nearly $19B in merchandise across 112 countries, despite disruptions to global supply chains. Despite a down venture capital market in 2021, logistics and supply chain startups have still been able to attract private investment.
An online payments company based in London and Dublin, is one of the most successful and highly valued fintech startups. It was most recently valued at $95B in a 2021 financing round and has raised over $2B in funding since its founding 12 years ago. In 2021, the company processed $640B in payments, a 60% increase from the previous year, and is estimated to have generated $12B in revenue. Despite its impressive growth, Stripe has faced market correction and lowered its internal valuation to $74B.