Unity Biotechnology. Magenta Therapeutics. ARMO BioSciences. Verrica Pharmaceuticals. Notice a pattern? They're all VC-backed healthcare companies, and they've all gone public since the beginning of this year.
Of the VC-backed companies in the US that have conducted IPOs so far in 2018, nearly two-thirds are part of the healthcare industry. And the spike in healthcare companies hitting the public markets represents a larger trend: VC-backed IPOs in general are booming.
So far, just about halfway through 2018, the total deal value for VC-backed IPOs in the US stands at $6.9 billion, per PitchBook data. If the pace keeps up, this year will be second to only 2012 in terms of IPO deal value—and 2012 is a bit of an outlier, as it includes Facebook's record-breaking public offering. The number of public debuts in 2018 is high, too: This year is set to see around 85 VC-backed IPOs in the US, a number that's only been exceeded in 2007, 2013 and 2014.
The healthcare sector, which encompasses devices & supplies, drug discovery and biotechnology, is by far the most active industry for IPOs this year. Of the 41 venture-backed companies based in the US that have gone public over the past six months, 27 fall in the healthcare sector, per PitchBook data. Next comes IT: Eleven companies in that industry have conducted IPOs since the beginning of 2018, including Dropbox, DocuSign and Zscaler.
Here's a look at all the US-based VC-backed companies that have gone public so far in 2018, ranked in terms of valuation at the time of their debut:
Of the VC-backed companies in the US that have conducted IPOs so far in 2018, nearly two-thirds are part of the healthcare industry. And the spike in healthcare companies hitting the public markets represents a larger trend: VC-backed IPOs in general are booming.
So far, just about halfway through 2018, the total deal value for VC-backed IPOs in the US stands at $6.9 billion, per PitchBook data. If the pace keeps up, this year will be second to only 2012 in terms of IPO deal value—and 2012 is a bit of an outlier, as it includes Facebook's record-breaking public offering. The number of public debuts in 2018 is high, too: This year is set to see around 85 VC-backed IPOs in the US, a number that's only been exceeded in 2007, 2013 and 2014.
The healthcare sector, which encompasses devices & supplies, drug discovery and biotechnology, is by far the most active industry for IPOs this year. Of the 41 venture-backed companies based in the US that have gone public over the past six months, 27 fall in the healthcare sector, per PitchBook data. Next comes IT: Eleven companies in that industry have conducted IPOs since the beginning of 2018, including Dropbox, DocuSign and Zscaler.
Here's a look at all the US-based VC-backed companies that have gone public so far in 2018, ranked in terms of valuation at the time of their debut:
| Company name | Month of IPO | Years from founding to IPO | Industry sector | Money raised in IPO | Value at IPO |
| Dropbox | March | 10.8 | IT | $756.0M | $8.2B |
| DocuSign | April | 15.1 | IT | $629.3M | $4.4B |
| Pluralsight | May | 14.4 | B2C | $310.5M | $2.0B |
| Zscaler | March | 11.2 | IT | $192.0M | $1.9B |
| Avalara | June | 14.5 | IT | $180.0M | $1.6B |
| Smartsheet | April | 13.3 | IT | $174.5M | $1.5B |
| Zuora | April | 11.6 | IT | $154.0M | $1.4B |
| Ecovacs | May | 20.4 | B2C | $126.1M | $1.3B |
| Carbon Black | May | 16.3 | IT | $152.0M | $1.3B |
| Vobile | January | 12.5 | IT | $206.4M | $1.1B |
| Unity Biotechnology | May | 9.3 | Healthcare | $85.0M | $712.4M |
| Huami | February | 5.1 | Healthcare | $110.0M | $653.8M |
| Arcus Biosciences | March | 3.2 | Healthcare | $120.0M | $638.3M |
| Eidos Therapeutics | June | 5.5 | Healthcare | $106.3M | $608.9M |
| Homology Medicines | March | 3.2 | Healthcare | $144.0M | $577.3M |
| Solid Biosciences | January | 5.1 | Healthcare | $125.0M | $546.4M |
| nLIGHT | April | 18.3 | B2B | $96.0M | $537.9M |
| Aptinyx | June | 2.8 | Healthcare | $102.4M | $520.6M |
| Magenta Therapeutics | June | 1.6 | Healthcare | $100.0M | $515.6M |
| Evelo Biosciences | May | 4.4 | Healthcare | $85.0M | $509.9M |
| ARMO BioSciences | January | 5.2 | Healthcare | $128.0M | $497.7M |
| Forty Seven | June | 3.5 | Healthcare | $113.0M | $478.2M |
| Neon Therapeutics | June | 4.7 | Healthcare | $100.0M | $451.2M |
| EverQuote | June | 9.9 | IT | $84.4M | $446.5M |
| Avrobio | June | 3.5 | Healthcare | $99.7M | $439.8M |
| ElectroCore | June | 13.5 | Healthcare | $78.0 | $426.4M |
| Surface Oncology | April | 4.3 | Healthcare | $108.0M | $414.0M |
| resTORbio | January | 1.1 | Healthcare | $85.0M | $407.9M |
| Verrica Pharmaceuticals | June | 5.5 | Healthcare | $75.0M | $374.2M |
| Menlo Therapeutics | January | 7.1 | Healthcare | $119.0M | $372.8M |
| UNUM Therapeutics | March | 4.2 | Healthcare | $69.2M | $355.4M |
| Scholar Rock | May | 6.4 | Healthcare | $75.0M | $342.2M |
| Inspire Medical Systems | May | 11.3 | Healthcare | $108.0M | $323.9M |
| Xeris Pharmaceuticals | June | 13.5 | Healthcare | $85.5M | $296.0M |
| Kezar Life Sciences | June | 3.5 | Healthcare | $75.0M | $274.8M |
| Cardlytics | February | 10.1 | B2B | $70.2M | $253.8M |
| Eyenovia | January | 4.1 | Healthcare | $27.3M | $99.4M |
| Genprex | March | 9.2 | Healthcare | $6.4M | $65.2M |
| One Stop Systems | February | 20.1 | IT | $19.0M | $61.7M |
| Tricida | June | 4.9 | Healthcare | $222.3M | – |
| Translate Bio | June | 8.5 | Healthcare | $121.6M | – |
Tags:
Join the more than 1.5 million industry professionals who get our daily newsletter!
Comments:
Thanks for commenting
Our team will review your remarks prior to publishing.
Please check back soon to see them live.