Plug and Play Has Reached 30 Unicorns

By Taj Shorter and Yuhan Ma Published on Nov. 23, 2022

Plug and Play has been investing in startups since the late 90s and saw early success from investments in PayPal, Danger, Course Hero, Dropbox, and more. From there, our portfolio startups quickly grew, and many more soon became unicorns. In 2021 alone, 12 of our portfolio startups reached unicorn status.

Our latest unicorn, Vesttoo, holds an additional milestone with us as they also became our 30th unicorn. Vesttoo specializes in data-driven risk management solutions for the P&C and L&P markets, using cutting-edge technologies to transfer general insurance, lapse, mortality, and longevity risk to the capital markets. We’re excited to see this company's growth and celebrate alongside them.

“I’m incredibly honored to work with some of the brightest minds and invest in the most promising startups. Only two years ago, we invested in Vesttoo, and since then, they’ve quickly positioned themselves as a trailblazer in insurtech innovations. Joining our unicorn portfolio is a well-earned milestone, and it’s even better to announce them as our 30th officially,” said Saeed Amidi, CEO and founder of Plug and Play.

According to CB Insights, as of October 2022, there are more than 1,200 unicorns worldwide, and the number is rapidly growing. Producing 30 unicorns, in particular, is an accomplishment that even some countries have yet to reach. In Europe, Germany currently has a total of 29, while France has produced 24 unicorns. With offices worldwide, we hope to aid these countries in producing more unicorns with our teams there actively seeking the most promising startups. Plug and Play is an active VC and ecosystem that has been accelerating startups and consulting corporates to further innovation in over 18 industries.

“As Plug and Play continues to grow, our portfolio companies grow with us. Welcoming our 30th unicorn into our portfolio is a true testament to the work we’re doing as a venture fund,” said George Damouny, Partner at Plug and Play Ventures.

To learn more about our portfolio, we encourage you to check out our Unicorn Report. As a global ecosystem and innovation platform, we’re amped to continue to support the visions of the next up-and-coming unicorn founders.