Jessica Alba is the founder of The Honest Company.
Dia Dipasupil/Getty
A report found nine Black and Latina female founders have reached a $1 billion or higher valuation.
Among these entrepreneurs are Rihanna, Jessica Alba, and the makeup artist Pat McGrath.
Here are eight of the nine women who've reached unicorn status.
Though Black and Latina women raised more than 1% of all venture-capital funding in 2021, that number fell in 2022 when VC investments dropped overall due to economic concerns, a recent report on the state of underrepresented women entrepreneurs found.
The biennial report, which Project Diane and the organization DigitalUndivided released Wednesday, compiled data from more than 750 Latina and Black female founders who have received outside funding. These companies received 0.85% of all venture capital in 2022, making it the second-biggest year for this cohort.
The report also found that there are now more than 350 Black and Latina female founders who have raised at least $1 million in funding, and at least nine Black and Latina female founders have reached a $1 billion valuation.
Here are eight Black and Latina female founders who have achieved this feat, in order of the highest current valuation. Each company on this list has at one point achieved a $1 billion valuation, but some have lost that value over time.
Toyin Ajayi, Cityblock Health — $5.7 billionToyin Ajayi, the cofounder and CEO of Cityblock Health.
Cityblock
Last valuation: $5.7 billion
Ajayi cofounded Cityblock Health with Iyah Romm in 2017. The company provides healthcare services such as annual checkups and therapy with an emphasis on serving marginalized communities.
Ajayi became the CEO of the company in March 2022.
Flori Marquez, BlockFi — $3 billionFlori Marquez, a cofounder and the COO of the crypto-finance firm BlockFi.
BlockFi
Last valuation: $3 billion
Marquez cofounded the crypto-lending platform BlockFi in 2017 with Zac Prince. Marquez serves as the company's COO.
In 2021, the company announced a $350 million Series D funding round that valued the firm at $3 billion, TechCrunch reported. In total, the company has raised $956 million in venture funding, according to a report from the VC fund Harlem Capital and Crunchbase.
According to her LinkedIn profile, Collins exited the company in 2018 and has since founded two more companies, Planet FWD and Moonshot Snacks.
In January 2020, Zume permanently shuttered the robotics division of its company and laid off about 360 employees, Insider reported. According to its website, the company has shifted to developing products that replace single-use plastic.
Iman Abuzeid, Incredible Health — $1.65 billionIman Abuzeid, a cofounder and the CEO of Incredible Health.
Incredible Health
Latest valuation: $1.65 billion
Abuzeid is a cofounder and the CEO of Incredible Health, which she launched in 2017 with Rome Portlock. The startup connects nurses and medical professionals with jobs at hospitals.
Rihanna is exploring a possible IPO, which could value her company at $3 billion, Bloomberg reported last year.
Pat McGrath, Pat McGrath Labs — $1 billionPat McGrath is a makeup artist and the founder of McGrath Labs.
Patrick McMullan/Getty Images
Latest valuation: $1 billion
Since the '90s, McGrath has been an influential makeup artist known for her work in fashion magazines and runway looks at fashion-week shows. In 2015, she launched her own cosmetic brand called Pat McGrath Labs.
In 2018, private-equity firm Eurazeo invested $60 million in Pat McGrath Labs, valuing the beauty brand at $1 billion, Business of Fashion reported.
Isabel Aznarez, Stoke Therapeutics — $360 millionIsabel Aznarez is a cofounder and the VP head of biology at Stoke Therapeutics.
Stoke Therapeutics
Latest valuation: $360 million
Aznarez is a cofounder the senior vice president, head of biology at Stoke Therapeutics, a biotechnology company she founded in 2014 with Adrian Krainer.
Stoke Therapeutics filed for an IPO in 2019 with a valuation of $2.16 billion, Insider reported.
Now, as a publicly traded company on the Nasdaq, the company's valuation ebbs and flows. At the time of publishing, the company had a $360 million market cap.
Jessica Alba, The Honest Company — $259 millionJessica Alba is an actor and the founder of The Honest Company.
Frazer Harrison/GettyImages
Current valuation: $259 million
Alba is an actor known for her roles in the movies "Fantastic Four" and "Sin City." In 2012, she founded The Honest Company, a retailer that sells baby, beauty, and household products that exclude more than 3,500 materials and chemicals the company said pose a potential risk to users.
The Honest Company first received its unicorn status in 2015, when it raised $100 million and received a $1.7 billion valuation. The company lost its billion-dollar valuation in 2017 in a $75 million funding round, Inc. reported.
In 2021, The Honest Company filed an IPO, which valued the company at $1.4 billion. Now, as a publicly traded company on the Nasdaq, the company's valuation ebbs and flows. At the time of publishing, the company had a $259 million market cap.
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