Onshape Is Almost a Unicorn: This Year’s Highest Startup Valuations in Mass. So Far
OnShape, the Cambridge cloud CAD startup led by former SolidWords CEO John McElney, is just $200 million shy from gaining the coveted (or not coveted?) "unicorn " status — that is, private companies that have a $1 billion valuation or higher.That's at least according to Pitchbook data, which Boston Business Journal compiled on Friday for its list of the top 25 Massachusetts startups with the highest valuations so far this year. BBJ is a sister publication of BostInno.Other Massachusetts startups with high valuations from funding rounds this year include:Cambridge-based NuoDB ($157 million valuation) Boston-based SessionM ($268.2 million) Bedford-based 1366 Technologies ($172.2 million) Cambridge-based EverQuote ($193.36 million) Boston-based LevelUp ($255 million) Somerville-based Formlabs ($273.63 million) Cambridge-based BitSight Technologies ($303.2 million) Framingham-based Applause ($347.59 million) Boston-based Jana ($388.2 million) Boston-based DataXu ($390.04 million) Boston-based Circle Internet Financial ($480 million) Cambridge-based Fuze ($722.74 million)There were also several life sciences startups on the list, but as far as non-life sciences startups go, Onshape was at the top of the list with a $800.91 million valuation based on its funding round in April. The startup's investors include Andreessen Horowitz, New Enterprise Associates, Commonwealth Capital Ventures and North Bridge Venture Partners.Find BBJ's whole list, which includes descriptions of every startup along with their most recent funding rounds, here.BBJ said the valuations from Pitchbook are calculated "using a combination of public filings through a proprietary process," and that Pitchbook's methods are similar to those used by valuation firms.While the startup world may sometimes put a premium on companies that are able to raise lots of money from investors and gain high valuations, a recent analysis from Cambridge venture capital firm Founder Collective found that 14 of the 20 most successful tech IPOs from 2011-2015 raised less than $125 million, with six of them raising less than $50 million.