- This year’s biggest startup flameout was Theranos, the embattled medical technology company that raised almost $1 billion in its lifetime.
- Using data from PitchBook, these are the 25 most valuable American startups that died in 2018.
Having millions of dollars in backing from venture capitalists doesn’t guarantee the longevity of a startup.
Even well-established private companies are at constant risk of failure, as evidenced by some of the startups that went out of business this year. PitchBook compiled data on the 25 most valuable startups that failed in 2018; three of these companies have been around for more than 20 years and were still forced to shutter.
Startups in the healthcare industry took a big hit – seven companies on the list are in the medical sector.
The list is headed by Theranos, the blood-testing company, whose $9 billion valuation was greater than those of all the other startups on the list combined. It ultimately flamed out after a series of Wall Street Journal reports raised serious questions about its technology.
Here are the 25 most valuable VC-backed startups that failed in 2018:
26. SDCmaterials — automobile nanotechnology
Year founded: 2004
Maximum valuation: $48 million
Amount raised: $26 million
Read more about SDCmaterials on PitchBook.
25. Senzari — music and entertainment data intelligence
Year founded: 2010
Maximum valuation: $52 million
Amount raised: $13 million
Read more about Senzari on PitchBook.
23. Industrial Origami — industrial material manufacturer
Year founded: 2003
Maximum valuation: $58 million
Amount raised: $41 million
Read more about Industrial Origami on PitchBook.
22. Claritas Genomics — pediatric genetic testing
Year founded: 2013
Maximum valuation: $60 million
Amount raised: $39 million
Read more about Claritas Genomics on PitchBook.
21. Apprenda — cloud-based developer software
Year founded: 2007
Maximum valuation: $90 million
Amount raised: $56 million
Read more about Apprenda on PitchBook.
20. Innovari — interactive energy platform for the utility industry
Year founded: 2011
Maximum valuation: $94 million
Amount raised: $12 million
Read more about Innovari on PitchBook.
19. DataTorrent — streaming data platform
Year founded: 2012
Maximum valuation: $96 million
Amount raised: $24 million
Read more about DataTorrent on PitchBook.
18. Rennovia — bio-based chemical production
Year founded: 2009
Maximum valuation: $99 million
Amount raised: $69 million
Read more about Rennovia on PitchBook.
17. Navdy — heads-up displays for vehicles
Year founded: 2012
Maximum valuation: $100 million
Amount raised: $80 million
Read more about Navdy on PitchBook.
16. EZhome — subscription-based lawn-care services
Year founded: 2014
Maximum valuation: $102 million
Amount raised: $20 million
15. Winx — sleep-therapy systems
Year founded: 2007
Maximum valuation: $115 million
Amount raised: $77 million
Read more about Winx on PitchBook.
14. Alphabet Energy — thermoelectric generators
Year founded: 2009
Maximum valuation: $118 million
Amount raised: $78 million
Read more about Alphabet Energy on PitchBook.
13. Paieon — medical imaging technology
Year founded: 2000
Maximum valuation: $136 million
Amount raised: $34 million
Read more about Paieon on PitchBook.
12. Candescent Health — radiology software
Year founded: 2009
Maximum valuation: $145 million
Amount raised: $94 million
Read more about Candescent Health on PitchBook.
11. Primary Data — automation software platform
Year founded: 2013
Maximum valuation: $150 million
Amount raised: $89 million
Read more about Primary Data on PitchBook.
10. Fallbrook Technologies — automatic shifting technology for bicycles
Year founded: 1998
Maximum valuation: $169 million
Amount raised: $171 million
Read more about Fallbrook Technologies on PitchBook.
9. ReVision Optics — surgical implants for vision loss
Year founded: 1996
Maximum valuation: $183 million
Amount raised: $175 million
Read more about ReVision Optics on PitchBook.
8. Medical Simulation — simulation products for medical training
Year founded: 1998
Maximum valuation: $194 million
Amount raised: $55 million
Read more about Medical Simulation on PitchBook.
7. Airware — drone analytics
Year founded: 2011
Maximum valuation: $59 million
Amount raised: $104 million
Read more about Airware on PitchBook.
6. ItsOn — cloud-based platform for smart mobile services
Year founded: 2008
Maximum valuation: $243 million
Amount raised: $41 million
Read more about ItsOn on PitchBook.
5. Shyp — on-demand delivery platform
Year founded: 2013
Maximum valuation: $275 million
Amount raised: $62 million
Read more about Shyp on PitchBook.
4. Rethink Robotics — robots for the manufacturing industry
Year founded: 2008
Maximum valuation: $291 million
Amount raised: $150 million
Read more about Rethink Robotics on PitchBook.
3. Videology — TV and video advertising software
Year founded: 2007
Maximum valuation: $311 million
Amount raised: $233 million
Read more about Videology on PitchBook.
2. Lytro — full-spectrum light-field cameras
Year founded: 2006
Maximum valuation: $360 million
Amount raised: $202 million
Read more about Lytro on PitchBook.
1. Theranos — blood-testing technology
Year founded: 2003
Maximum valuation: $9 billion
Amount raised: $910 million
Read more about Theranos on PitchBook.