The top 3 by tracked revenue: Anthropic ($65B annualized), OpenAI ($40B+), Databricks ($7B+). Ranked below: the top 22 private companies by latest reported revenue, ARR or run-rate, across every industry we cover.
Private, US-tracked companies only; figures dated 2025-07-01 or later, never a stale, rumored or disputed number. Not a market total.
Methodology
Figures tracked by Value Add VC from company statements, SEC filings, enrichment and news outlets — not a total for the whole market or a complete list of every private company. Each company shows its most recently reported figure dated 2025-07-01 or later; an older, rumored, or disputed figure is left off rather than shown as current.
The metric is labeled honestly per row — Revenue, ARR, or Run-rate — since they are not interchangeable and some companies only disclose one. Ranked by value regardless of which metric. Public companies are excluded.
Last updated 2026-10-15. Missing a company? Submit it →
| # | Company | Industry | Metric | Figure | As of | Valuation | Multiple | Source |
|---|---|---|---|---|---|---|---|---|
| 1 | Anthropic | AI infra | Run-rate | $65.0B | 2026-09-21 | $965B | 14.8x | The Wall Street Journal |
| 2 | OpenAI | AI infra | Run-rate | $40.0B | 2026-08-10 | $852B | 21.3x | CNBC |
| 3 | Databricks | AI infra | Revenue | $7.0B | 2026-08-13 | ~$190B | 27.1x | Bloomberg |
| 4 | Kalshi | Crypto | Run-rate | $1.5B | 2026-05-07 | $22B | 14.7x | TechCrunch |
| 5 | Fireworks AI | AI infra | Run-rate | $1.0B | 2026-07-16 | $17.5B | 17.5x | SiliconANGLE |
| 6 | Cognition | Developer tools | ARR | $900M | 2026-09-08 | $48B | 53.3x | TechCrunch |
| 7 | Baseten | AI infra | Revenue | $600M | 2026-03 | $13B | 21.7x | StartupFortune — Baseten raises $1.5B at $13B |
| 8 | Replit | Developer tools | ARR | $525M | 2026-04 | $9B | 17.1x | Sacra — Replit revenue, funding & news |
| 9 | Harvey | Legal tech | Revenue | $400M | 2026-09-09 | $15.5B | 38.8x | TechCrunch |
| 10 | Snorkel AI | AI infra | ARR | $375M | 2026-09-22 | $3.5B | 9.3x | PR Newswire |
| 11 | Glean | — | ARR | $300M | 2026-05 | — | — | Glean — Series F at $7.2B |
| 12 | Temporal | — | Revenue | $250M | 2026-09-14 | $12.55B | 50.2x | GeekWire |
| 13 | EliseAI | Enterprise SaaS | ARR | $200M | 2026-09-29 | $4B | 20x | TechCrunch |
| 14 | Higgsfield | AI infra | Run-rate | $200M | 2026-01-15 | $5.4B | 27x | PR Newswire |
| 15 | Scimplify | Materials | Revenue | $200M | 2026-10-14 | $250M | 1.3x | TechCrunch |
| 16 | Bamboo Insurance | Insurance | Revenue | $173M | 2026-09-14 | — | — | Bloomberg |
| 17 | Cyera | Cybersecurity | Revenue | $150M | 2026-09-24 | $12B | 80x | Cyera press release |
| 18 | Rothe Development | Defense | Revenue | $122M | 2026-09-08 | — | — | SEC EDGAR |
| 19 | Arena | AI infra | ARR | $100M | 2026-10-08 | $3.1B | 31x | TechCrunch |
| 20 | Nous Research | AI infra | ARR | $36M | 2026-10-07 | $1.5B | 41.7x | TechCrunch |
| 21 | TeddyHoldings.AI | Legal AI | Revenue | $25M | 2026-10-07 | — | — | Pulse 2.0 |
| 22 | Fish Audio | AI infra | ARR | $21M | 2026-07-30 | — | — | Pulse 2.0 |
Anthropic, at $65B annualized (run-rate, as of 2026-09-21), per The Wall Street Journal.
A mix — each row is labeled honestly: 9 of the 22 companies below report true revenue, and 13 report ARR or an annualized run-rate instead, which is not the same thing as revenue and can be a larger or smaller number.
A company not publicly traded — no stock ticker, no market cap we track, and not on the SEC's list of listed issuers we check against. Companies that have filed to go public but haven't yet traded are still counted as private.
Cyera, at roughly 80x — its latest tracked valuation ($12B) divided by its revenue ($150M+).
Are you on this list? Get featured: add a badge, an enhanced profile and a "Presented by" spot. Sponsor this list →
Missing a company or something wrong? Tell us →