NEW UNICORNS: Meet the 14 startups that grew to be worth billions in 2016 by Biz Carson on Dec 30, 2016, 2:53 PM Advertisement
 In Silicon Valley, a "unicorn" is a company with a billion-dollar valuation. Its name implies how rare it should be to reach that status. But as more money pours into startups — a prominent trend over the last few years — more and more startups are achieving "unicorn" status. Unicorns hit a fever pitch in 2015 when 42 different startups achieved billion-dollar valuations. Yet as the data shows, becoming a unicorn wasn't quite as easy in 2016. For the purposes of this list, Business Insider asked PitchBook Data to pull a list of US-based companies that reached a $1+ billion valuation in 2016. We then ranked them from least to most valuable based on their post-money valuations. Here are the companies that became unicorns in 2016: SEE ALSO: 51 enterprise startups to bet your career on in 2017 Compass  Founded: 2012 Valuation: $1 billion What it does: While Compass functions like a traditional broker, the company's promise is using technology to reduce the time and friction of buying and selling a house or apartment. In July, Compass released an app designed to replace "stale" quarterly market reports with more dynamic information. In the app, buyers and sellers can search by things like neighborhood, number of bedrooms, price range, and so on, but they can also look at more advanced metrics, like year-over-year analysis of median price per square foot, days on the market, and negotiability.
SMS Assist  Founded: 2003 Valuation: $1 billion What it does: The Chicago-based technology company provides software to help property managers supervise everything from electrical work to snow-plow contractors to landscaping. The "no-glamour" company allows property managers to keep tabs on multiple properties at once, and it's already signed on customers from Family Dollar to Colony Starwood Homes.
ForeScout  Founded: 2000 Valuation: $1 billion What it does: ForeScout's technology helps companies monitor all of the devices that are connected to their network at any given time. For many large enterprises, the number of devices can easily run into the millions — things like PCs, employees' mobile devices, virtual machines used for testing new applications, and now IoT devices — which makes it it hard for network administrators to keep tabs on everything happening on their company's network. Forescout's CEO said that when the company first runs its software with a client, it typically finds 20-30% more devices on the network than the client's IT team expected.
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