Unicorns had their red-carpet moment in the last decade. In 2021, each of the founders wanted the horn, the headline, and the billion-dollar bragging rights. In 2026, however, the cooler badge of honor is a little more tamed and arguably more interesting. The soonicorn is the new symbol of hype in the startup world. A soonicorn is a venture-backed startup worth between 500 million dollars and 999 million dollars. The term “Soonicorn” was coined by Stanford professor Ilya A. Strebulaev and highlighted by The New York Times. It is literally the embodiment of a soon-to-be unicorn.
In other words, it is a company that is about to reach the billion-dollar mark, yet it is not as ready to take it. When the unicorns are the superstars in the major league in the startup world, soonicorns are the minor league phenomena. The term is playful as it is part startup slang, part aspiration but at the same time is signaling a real phenomenon in today’s funding climate.
Soonicorns in the Current Startup Ecosystem
Stanford finance professor Ilya Strebulaev and other observers believe that, by 2026, companies more than ever before will attain near-unicorn status. As a matter of fact, the number of soonicorns in the U.S. alone is more than 2,000, as of late 2025. Which showcases a drastic increase compared to 10 years ago. One of the bigger reasons is the present boom in AI funding. A renowned tech columnist stated that, thanks to AI, starting a company and reaching a sky-high valuation have never been as easy as they are today.
Venture capital is pouring into new projects at an insane rate, to the point that several startups built as recently as 1-2 years ago are already valued at unicorn levels. These tailwinds will make 2026 a big year for soonicorns as predicted by Strebulaev. In brief, capital is abundant and the bar is almost as low as it has been in years.
What “Soon-to-be” Indicates Really?
Of course, there can arise questions, does soon mean definitely? Analysts caution it does not. Factually, soonicorn is not really an assurance of success, but rather a sign of its present position. A lot of soonicorns are not going to be unicorns. Others can go public or be sold for under $1B in valuation; some will become profitable but remain mid-sized companies, and the rest will simply fail (as most startups do).
And as the age to become a unicorn has decreased (from almost 6.5 years in 2015 to approximately 3.5 years today), it indicates that companies are attempting to scale too quickly, too early. As a matter of fact, one of the tech columnists joked that the new slogan must be: “Don’t rush the unicorn; teach startups to gallop first.” This implies prioritizing revenue and sound business basics, then pursuing high valuations. Another tech site portrays the situation this way: the new soonicorn animal is mature and responsible, which means founders are learning to grow gradually rather than jumping headfirst into glittery PR.
From Silicon Valley to Bengaluru: The Rise of the Almost-Unicorn
The soonicorn trend is no longer limited to Silicon Valley. Tech hubs across the globe are following their own almost-unicorns. The startup boom in India, for instance, now has approximately 147 soonicorns. These firms are spread across industries such as fintech, e-commerce, deeptech and edtech (totaling about $60 billion in value and having raised about $18 billion). Cases in point are Bengaluru-based Ultrahuman (wearable health technology) and Chennai-based Agnikul Cosmos (small-satellite rockets), both of which have recently been praised for approaching unicorn status.
In fact, an Indian startup tracker documents that soonicorns in the country span across various industries, implying the global spread of the phenomenon. India, by comparison, officially announced only six new unicorns in 2025, which may indicate that the country has significant numbers in the ranks of companies that are about to hit the $1B threshold.
What Startup Founders Say About the Soonicorn Hype?
There is even a playful cultural angle. The tech media have jumped on soonicorn as the new buzzword, spawning memes and headlines. One tech columnist wrote that everyone wants to be a Soonicorn right now, saying that it is being sold by entrepreneurs as a smarter ambition than becoming a unicorn. Indeed, one of the veteran founders mentioned in an interview – “We do not want to become a unicorn, not before we achieve 150-200 million in revenue”, which reflects a conservative approach.
Another described it as “Unicorn is so 2021”. Today, a large number of founders prefer to be Soonicorn. To put it another way, soonicorn has become a sort of cultural shorthand. Soonicorn is a bit of a reality check with a new badge of honor. It reflects a startup environment in which valuation hype coexists with an increasing focus on profitability and longevity.
Will 2026 Prove to be the Year of the Soonicorn?
It is possible that we are about to witness even more of these borderline unicorns. The present climate, which is filled with venture capital and AI deeptech, is a goldmine for Soonicorns to thrive in. The rising investor demand for sustainable growth has created perfect conditions for the Soonicorns to multiply. That said, the ultimate test will be whether any of today’s soonicorns can successfully “make the jump” to unicorn or IPO without stumbling.
Large and successful start-ups are now preferring to remain private longer. Even a decade ago, a buzzed start-up would have leaped at a first opportunity to exit. But now public markets are a bit volatile. And the few long-established start-ups have been fattening in valuation, enjoying their private status. That trend might see a shift in 2026. Megastartups like OpenAI and SpaceX are said to be moving toward IPOs this year.
In the meantime, soonicorn is a fitting symbol of a time when startup dreams are as large as ever, but are grounded by a good dose of realism. The story will continue while every soonicorn will be forced to run like a madman to prove its new name. Only time will decide which of them will become players of the big leagues and which will remain barely short of the victorious status.
Author: Irtiza Zaman
