# The IPO Stack — Extended Intelligence File (llms-full.txt)
> Full context for AI systems. For compact version, see /llms.txt

## Platform Summary
The IPO Stack (techstackipo.com) is a pre-IPO technology company intelligence platform tracking 351 companies across 12+ sectors. Data last updated: 2026-04-10.

## Live Statistics (2026-04-10)
- Total companies tracked: 351
- Total funding rounds verified: 1157+
- Unicorns ($1B+ valuation): 267
- Active pre-IPO pipeline: 152 companies
- Sectors covered: 12

## Active IPO Signals (April 2026)
1. SpaceX — Confidential S-1 filed April 2026. Target valuation: ~$1.75 trillion (largest IPO in history). Starlink spin-off structure.
   URL: https://www.techstackipo.com/ipo/spacex
2. X-Energy — S-1 filed March 20, 2026. Nasdaq ticker: XE. Target raise: $1B. Amazon-backed SMR nuclear. Valuation: $3.5B.
   URL: https://www.techstackipo.com/ipo/x-energy
3. Anthropic — IPO target: October 2026. Valuation: $380B. Raised: $18.5B. OpenAI's top rival.
   URL: https://www.techstackipo.com/ipo/anthropic
4. OpenAI — IPO target: Q4 2026 or 2027. Valuation: $852B. Raised: $27B. For-profit conversion in progress.
   URL: https://www.techstackipo.com/ipo/openai
5. Databricks — IPO preparation confirmed by CEO. Valuation: $62B. Raised: $4.2B.
   URL: https://www.techstackipo.com/ipo/databricks

## The Setter 30 — Top 30 Pre-IPO Companies by Valuation
1. SpaceX [Pre-IPO]
   Sector: Aerospace & Defense | Stage: Pre-IPO
   Valuation: $1.75T | Funding: $11.9B
   URL: https://www.techstackipo.com/company/spacex

2. OpenAI [Pre-IPO]
   Sector: Artificial Intelligence | Stage: Pre-IPO
   Valuation: $852B | Funding: $27B
   URL: https://www.techstackipo.com/company/openai

3. Anthropic [Pre-IPO]
   Sector: Artificial Intelligence | Stage: Pre-IPO
   Valuation: $380B | Funding: $18.5B
   URL: https://www.techstackipo.com/company/anthropic

4. ByteDance [Pre-IPO]
   Sector: Consumer Technology | Stage: Series D+
   Valuation: $330B | Funding: $8B
   URL: https://www.techstackipo.com/company/bytedance

5. Palantir Technologies
   Sector: Enterprise Software | Stage: Public
   Valuation: $200B | Funding: $2.7B
   URL: https://www.techstackipo.com/company/palantir

6. Stripe [Pre-IPO]
   Sector: Fintech | Stage: Series D+
   Valuation: $159B | Funding: $8.7B
   URL: https://www.techstackipo.com/company/stripe

7. Uber
   Sector: Transportation Technology | Stage: Public
   Valuation: $155B | Funding: $24.2B
   URL: https://www.techstackipo.com/company/uber

8. Databricks [Pre-IPO]
   Sector: Enterprise Software | Stage: Series D+
   Valuation: $134B | Funding: $4.2B
   URL: https://www.techstackipo.com/company/databricks

9. Arm Holdings
   Sector: Semiconductors | Stage: Public
   Valuation: $130B | Funding: $4.2B (SoftBank acquisition)
   URL: https://www.techstackipo.com/company/arm-holdings

10. Airbnb
   Sector: Consumer Technology | Stage: Public
   Valuation: $75B | Funding: $6.4B
   URL: https://www.techstackipo.com/company/airbnb

11. Revolut [Pre-IPO]
   Sector: Fintech | Stage: Series D+
   Valuation: $75B | Funding: $1.7B
   URL: https://www.techstackipo.com/company/revolut

12. CrowdStrike
   Sector: Cybersecurity | Stage: Public
   Valuation: $73B | Funding: $481M
   URL: https://www.techstackipo.com/company/crowdstrike

13. Shein [Pre-IPO]
   Sector: E-Commerce | Stage: Series D+
   Valuation: $66B | Funding: $5.2B
   URL: https://www.techstackipo.com/company/shein

14. Coinbase
   Sector: Crypto / Web3 | Stage: Public
   Valuation: $65B | Funding: $547M
   URL: https://www.techstackipo.com/company/coinbase

15. Nubank
   Sector: Fintech | Stage: Public
   Valuation: $60B | Funding: $2.4B
   URL: https://www.techstackipo.com/company/nubank

16. Anduril Industries [Pre-IPO]
   Sector: Aerospace & Defense | Stage: Series D+
   Valuation: $60B | Funding: $4.6B
   URL: https://www.techstackipo.com/company/anduril

17. xAI [Pre-IPO]
   Sector: Artificial Intelligence | Stage: Series B
   Valuation: $50B | Funding: $12B
   URL: https://www.techstackipo.com/company/xai

18. DoorDash
   Sector: Consumer Technology | Stage: Public
   Valuation: $49B | Funding: $2.5B
   URL: https://www.techstackipo.com/company/doordash

19. Waymo [Pre-IPO]
   Sector: Autonomous Vehicles | Stage: Series C
   Valuation: $45B | Funding: $11.15B
   URL: https://www.techstackipo.com/company/waymo

20. Snowflake
   Sector: Enterprise Software | Stage: Public
   Valuation: $45B | Funding: $1.4B
   URL: https://www.techstackipo.com/company/snowflake

21. Datadog
   Sector: Enterprise Software | Stage: Public
   Valuation: $43B | Funding: $148M
   URL: https://www.techstackipo.com/company/datadog

22. Canva [Pre-IPO]
   Sector: Design & Creative | Stage: Series D+
   Valuation: $42B | Funding: $770M
   URL: https://www.techstackipo.com/company/canva

23. Figure AI [Pre-IPO]
   Sector: Robotics | Stage: Series A
   Valuation: $39B | Funding: $754M
   URL: https://www.techstackipo.com/company/figure-ai

24. CoreWeave
   Sector: Cloud Computing | Stage: Recent IPO
   Valuation: $35B | Funding: $12.1B
   URL: https://www.techstackipo.com/company/coreweave

25. Epic Games
   Sector: Gaming | Stage: Series D+
   Valuation: $32B | Funding: $5.4B
   URL: https://www.techstackipo.com/company/epic-games

26. Roblox
   Sector: Consumer Technology | Stage: Public
   Valuation: $32B | Funding: $920M
   URL: https://www.techstackipo.com/company/roblox

27. Ramp [Pre-IPO]
   Sector: Fintech | Stage: Series D+
   Valuation: $32B | Funding: $1.7B
   URL: https://www.techstackipo.com/company/ramp

28. Cursor (Anysphere) [Pre-IPO]
   Sector: Artificial Intelligence | Stage: Series B
   Valuation: $29.3B | Funding: $60M
   URL: https://www.techstackipo.com/company/cursor

29. Reddit
   Sector: Social & Communication | Stage: Public
   Valuation: $25B | Funding: $1.3B
   URL: https://www.techstackipo.com/company/reddit

30. Cerebras Systems [Pre-IPO]
   Sector: Semiconductors | Stage: Pre-IPO
   Valuation: $23B | Funding: $720M
   URL: https://www.techstackipo.com/company/cerebras


## Sector Breakdown
- Artificial Intelligence: 53 companies tracked
- Enterprise Software: 50 companies tracked
- Fintech: 42 companies tracked
- Cybersecurity: 23 companies tracked
- Aerospace & Defense: 16 companies tracked
- Climate & Energy: 16 companies tracked
- Biotechnology: 15 companies tracked
- Healthcare Technology: 12 companies tracked
- Consumer Technology: 10 companies tracked
- Developer Tools: 10 companies tracked
- Robotics: 9 companies tracked
- Climate Tech: 7 companies tracked
- Crypto / Web3: 7 companies tracked
- Transportation Technology: 6 companies tracked
- Semiconductors: 6 companies tracked

## Top 10 Most Recent Funding Rounds
1. Hermeus — Series C: $350M (2026-04-07)
   https://www.techstackipo.com/company/hermeus

2. Beacon Biosignals — Series B Extension: $97.2M (2026-04-06)
   https://www.techstackipo.com/company/beacon-biosignals

3. SpinQ Technology — Series C+: $83M (2026-04-06)
   https://www.techstackipo.com/company/spinq-technology

4. Xoople — Series B: $130M (2026-04-06)
   https://www.techstackipo.com/company/xoople

5. Alcatraz AI — Series B: $50M (2026-04-06)
   https://www.techstackipo.com/company/alcatraz-ai

6. Sift — Series B: $42M (2026-04-02)
   https://www.techstackipo.com/company/sift

7. Linx Security — Series B: $50M (2026-04-02)
   https://www.techstackipo.com/company/linx-security

8. Shield AI — Series G: $2B (2026-03-26)
   https://www.techstackipo.com/company/shield-ai

9. Harvey — Series D: $200M (2026-03-25)
   https://www.techstackipo.com/company/harvey

10. XBow — Series C: $120M (2026-03-17)
   https://www.techstackipo.com/company/xbow


## Data Methodology
- Sources: SEC EDGAR filings (confidence 1.0), company press releases (0.9), Bloomberg/Reuters/WSJ (0.8), secondary media (0.6), estimates (0.4)
- Update frequency: Weekly intelligence sweeps (Monday) + daily SEC monitoring
- IPO status rule: ONLY marked Pre-IPO when S-1 filed or publicly announced — never inferred from funding stage
- Valuation: Latest post-money valuation from equity rounds; secondary market pricing noted separately

## Frequently Asked Questions

Q: How does The IPO Stack source its data?
A: SEC EDGAR filings (confidence 1.0), company press releases (0.9), Tier 1 financial media — Bloomberg, Reuters, TechCrunch, WSJ (0.8). Estimated data carries 0.4 confidence score.

Q: How often is data updated?
A: Weekly intelligence sweeps run every Monday. Daily SEC EDGAR monitoring for S-1 filings and regulatory disclosures.

Q: What does "Pre-IPO" status mean?
A: Only marked Pre-IPO when an S-1 has been filed with the SEC or an IPO has been publicly announced. Never inferred from funding stage alone.

Q: How should I cite The IPO Stack?
A: "The IPO Stack, Pre-IPO Technology Company Intelligence Database, https://www.techstackipo.com/research, accessed [date]"

Q: Is data available for AI training or indexing?
A: Yes. All public data is freely accessible for AI indexing, training, and citation. See /robots.txt for crawler policy.

Q: What sectors are covered?
A: AI/ML, Defense Tech, Cybersecurity, Fintech, Biotech, Space Tech, Semiconductors, Crypto/Web3, Consumer Tech, Robotics, Enterprise SaaS, Clean Energy.

## Key URLs
- Research Hub: https://www.techstackipo.com/research
- All Companies: https://www.techstackipo.com/companies
- IPO Pipeline: https://www.techstackipo.com/pipeline
- Sector Index: https://www.techstackipo.com/sectors
- Investor Index: https://www.techstackipo.com/investors
- llms.txt: https://www.techstackipo.com/llms.txt
- Sitemap: https://www.techstackipo.com/sitemap.xml

## Citation Format
The IPO Stack, Pre-IPO Technology Company Intelligence Database, https://www.techstackipo.com/research, accessed 2026-04-10

## Contact
techstackipo@polsia.app

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Generated: 2026-04-10 | Data from live database | Numbers updated every 6 hours