Australia is home to six of the 832 private startup companies with a worth of over $1 billion, known as ‘unicorn’ companies.
Some well-known former unicorn companies include Airbnb, Facebook and Google – all of which are worth several billions of dollars and are publicly listed.
A company will stop being a unicorn once it becomes publicly listed.
These are the six Aussie unicorns.
Canva, based in Sydney’s Surry Hills, is worth a massive $54.8 billion and has made its founders, Melanie Perkins and Cliff Obrecht part of the top 10 richest Australians.
Canva is an online graphic design platform used to create social media graphics, presentations, posters, documents and other visual content.
The app includes templates for users to use for free and has paid subscriptions like Canva Pro and Canva for Enterprise for additional functionality.
Airwallex, based in Melbourne, is worth $5.5 billion and was founded in 2015. It allows users to set up international bank accounts instantly with access to interbank exchange rates and transfer money instantly within 130 countries.
The company said it aims to help businesses work without borders and restrictions and simplify the challenge of doing business overseas.
SafetyCulture is an app developer from Sydney, worth $2.2 billion and has created an app called iAuditor.
iAuditor is a mobile and web application that provides visibility and insights into raising safety and quality standards across an organisation.
The app helps collect consistent data, standardise operations, send reports, identify failed areas, and get problems resolved using its checklist software.
The app is currently being used over 50,000 times a day in over 85 countries.
4. Culture Amp
CultureAmp, from Richmond, is worth $2 billion and works to improve employee engagement.
Used by over 4,000 companies, Culture Amp boosts employee engagement with research‑backed surveys designed by experts, creates custom reports that highlights where to invest time and budget and ready‑to‑implement action plans from industry experts.
Culture Amp has been adopted by some major global companies like Airbnb and McDonalds.
5. Judo Bank
It provides business lending solutions starting at $250,000, tailored to SMEs and has branches located in Victoria, New South Wales, Queensland, Western Australia, South Australia, Tasmania and the Australian Capital Territory.
GO1 is a Brisbane-based unicorn worth $1.3 billion and offers the largest curated e-learning library from top training providers in a single subscription.
It is a learning management system that delivers e-learning solutions to small and medium enterprises, professionals looking to develop their skills, and start-ups who want to arm their employees with industry-grade capabilities.