Skyline of San Diego, California. Photo Credit: David Mark/Pixabay

CTech – California now hosts the global or US headquarters for 32 Israeli-founded unicorns, privately held companies valued at $1 billion or more, according to the United States – Israel Business Alliance.

Over the past 12 months, the Golden State added 17 unicorns, the vast majority of which are in Silicon Valley. The 32 total companies form an unprecedented cluster of Israeli-founded unicorns in a single state.

“When you tell someone that there are 32 Israeli-founded companies worth $1 billion or more, you’ll be met with a look of amazement,” USIBA President Aaron Kaplowitz said. “When you clarify that those 32 companies are in California alone, the wonder quickly turns to disbelief.”

Over the past year, 16 companies reached or surpassed the billion-dollar valuation threshold: At-Bay, Big Panda, Cloudinary, Exabeam, Firebolt, Hailo, Honeybook, Noname Security, Placer.AI, RapidAPI, Salt Security, SpotOn, Sunbit, Veev, Viz.ai and Wiliot.

California picked up an additional unicorn when Cato Networks, a company valued at more than $1 billion since November 2020, relocated its headquarters from Alpharetta, Georgia, to San Jose.