On June 12, in a remarkable achievement for Armenian entrepreneurship, Gecko Robotics has officially joined the prestigious unicorn club after securing $125 million in Series D funding, bringing its valuation to $1.25 billion. Founded by Armenian-American entrepreneur Jake Loosararian, the Pittsburgh-based company represents the latest success story in a growing constellation of billion-dollar startups led by founders of Armenian heritage. Regional Post explores extraordinary journeys behind six unicorn companies founded by Armenians that transformed from bold ideas into billion-dollar empires, and forecasts the future of 5 companies well-positioned to join this club.
Understanding Unicorn Status
The term "unicorn" in the business world refers to privately held startup companies valued at $1 billion or more. Coined in 2013 by venture capitalist Aileen Lee, the mythical creature was chosen to represent the statistical rarity of such successful ventures. At the time, only 39 companies qualified for this exclusive club. Today, while unicorns have become more common with over 1,200 worldwide as of 2025, achieving this milestone still represents extraordinary success and market validation.
For a startup to reach unicorn status, it must demonstrate exceptional growth potential, innovative technology, and the ability to capture significant market share. These companies typically operate in high-growth sectors and have successfully attracted substantial venture capital investment based on their disruptive potential and scalable business models.
The Big Six: The Armenian Unicorns
ServiceTitan: Revolutionizing Trade Services ($7.6 Billion)
Founders: Ara Mahdessian and Vahe Kuzoyan
Unicorn Achievement: November 14, 2018
IPO Valuation: ~$7.6 Billion (December 2024)
ServiceTitan emerged from a deeply personal mission when two Armenian-American friends, Ara Mahdessian and Vahe Kuzoyan, sought to help their fathers' struggling home service businesses. After meeting on a college ski trip for Armenian students—Mahdessian from Stanford and Kuzoyan from USC—they combined their software engineering expertise to create comprehensive management software for trade businesses.
What began as a summer project to streamline scheduling, dispatching, and customer management for plumbing, HVAC, and electrical companies has transformed into the industry standard. The company now serves over 12,000 customers with more than 3,500 employees across offices in Glendale, Atlanta, and Yerevan. ServiceTitan's success story exemplifies how immigrant entrepreneurship can revolutionize entire industries while honoring family legacy.
Moderna: Pioneering mRNA Medicine ($27.7 Billion)
Founder: Noubar Afeyan (co-founder)
Unicorn Achievement: December 7, 2018 (IPO)
Current Market Cap: ~$27.7 Billion (June 2025)
Dr. Noubar Afeyan, born in Beirut to Armenian parents who fled the Lebanese Civil War, has become one of the most influential figures in biotechnology. Through his venture capital firm Flagship Pioneering, Afeyan co-founded Moderna, the company that became a household name during the COVID-19 pandemic for developing one of the first mRNA vaccines.
Afeyan's journey from refugee to billionaire entrepreneur embodies the Armenian spirit of resilience. His grandfather survived the Armenian Genocide, and this family history of overcoming adversity has shaped his approach to innovation. Beyond Moderna, Afeyan has co-founded over 100 life science and technology startups, collectively creating more than $100 billion in aggregate value. His commitment extends beyond business success—he has donated extensively to Armenian causes and established educational initiatives to transform Armenia into a technology-creating nation.
Reddit: Building Online Communities ($7.8 Billion)
Founder: Alexis Ohanian (Co-founder)
Unicorn Achievement: July 2017
Current Market Cap: ~$7.8 Billion (June 2024)
Alexis Ohanian co-founded Reddit in 2005 as part of Y Combinator's inaugural batch, creating what would become "the front page of the internet." Born to an Armenian-American father whose ancestors were Armenian Genocide survivors, Ohanian has never forgotten his heritage, often speaking about how his family's history of overcoming persecution drives his entrepreneurial spirit.
After selling Reddit to Condé Nast for $10 million in 2006, Ohanian returned as Executive Chairman in 2014 to lead the company's turnaround from less than $10 million in annual revenue to its current multi-billion-dollar valuation. Beyond Reddit, Ohanian has become a prominent advocate for immigrant entrepreneurship and has invested in Armenian startups. His marriage to tennis superstar Serena Williams has brought additional visibility to Armenian success stories in America.
Picsart: Democratizing Creative Expression ($1.5 Billion)
Founders: Hovhannes Avoyan, Artavazd Mehrabyan, and Mikayel Vardanyan
Unicorn Achievement: August 26, 2021
Current Valuation: ~$1.5 Billion
Picsart holds the distinction of being Armenia's first homegrown unicorn, achieving billion-dollar status while maintaining significant operations in Yerevan. Founded in 2011 by three Armenian entrepreneurs, the company created an all-in-one photo and video editing platform that has democratized creative content creation for over 150 million users worldwide.
The company's success represents a new chapter for Armenia's technology sector, proving that world-class innovation can emerge from the small landlocked nation. Picsart's user-friendly tools have empowered millions of creators, from casual social media users to professional content creators, to produce compelling visual content without requiring advanced design skills. The company's growth has also contributed significantly to Armenia's emergence as a regional technology hub.
Gecko Robotics: Safeguarding Critical Infrastructure ($1.25 Billion)
Founder: Jake Loosararian (co-founder)
Unicorn Achievement: June 12, 2025
Current Valuation: $1.25 Billion
Jake Loosararian's journey with Gecko Robotics began as a senior engineering project at Grove City College in 2012, where his team built wall-climbing robots to inspect power plant infrastructure. Recognizing the massive potential for robotic inspection technology, Loosararian co-founded the company despite widespread skepticism from advisors who deemed it "a bad idea."
The early years were marked by extraordinary challenges—Loosararian bootstrapped the company while sleeping on friends' floors and working in dangerous power plant environments. Today, Gecko Robotics' advanced robots "climb, crawl, swim, and fly" around critical infrastructure, providing AI-powered insights that optimize maintenance and ensure safety across defense, energy, and manufacturing sectors.
Gecko Robotics, which specializes in using advanced robotics and artificial intelligence to inspect critical infrastructure like power plants, dams, and military installations, has transformed from a college dorm room project into a company ensuring the safety of public infrastructure worldwide. Loosararian's journey from bootstrapping with less than $135 in his bank account to building a unicorn demonstrates the resilience and innovation that have become synonymous with Armenian entrepreneurship.
Indigo Ag: Transforming Agriculture Through Science
Founder: Noubar Afeyan (co-founder)
Unicorn Achievement: September 2017
Peak Status: Achieved unicorn valuation before declining to ~$200 Million (August 2023)
Indigo Ag represents Noubar Afeyan's venture into agricultural technology, co-founding the Boston-based company in 2014 through Flagship Pioneering. Originally called Symbiota, the company focuses on using natural microbiology and digital technologies to improve agricultural sustainability and profitability for farmers.
While Indigo Ag successfully achieved unicorn status in 2017, demonstrating the potential for technology to revolutionize agriculture, the company's valuation has since declined, illustrating both the opportunities and challenges in the agricultural technology sector. Nevertheless, its initial success contributed to the broader narrative of Armenian innovation across diverse industries.
The Next Generation: Armenian Unicorns in the Making
As the Armenian tech ecosystem continues to mature, a new cohort of ambitious, well-funded companies is emerging as strong contenders for the next wave of unicorn achievements. Based on their funding, market traction, technological innovation, and growth momentum, three Armenian-founded companies stand out as leading candidates to reach the $1 billion valuation milestone:
SuperAnnotate: Powering the AI Revolution
Founders: Tigran Petrosyan, Vahan Petrosyan
Sector: Artificial Intelligence, Data Infrastructure
Total Funding: $68.6 million
SuperAnnotate has positioned itself as a critical infrastructure company in the booming AI sector, providing a comprehensive platform for managing the entire data pipeline required for AI development. From data annotation and curation to quality management and automation, the company addresses fundamental needs for organizations building reliable AI models.
The company's prospects received a significant boost when AI giant NVIDIA made a strategic investment during its Series B round in late 2024—a powerful endorsement of SuperAnnotate's technology and market position. Operating in the explosive data infrastructure for AI space, SuperAnnotate is well-positioned to capitalize on the enterprise demand for high-quality, well-managed data as AI adoption accelerates across industries.
DISQO: Revolutionizing Consumer Insights
Founders: Armen Adjemian, Armen Petrosian, Drew Kutcharian
Sector: Customer Experience (CX), Market Research, Data Analytics
Total Funding: Over $100 million
DISQO has built a massive first-party audience panel that provides brands with high-quality, ethically sourced data on the entire customer journey. With over 300 clients, including Fortune 500 companies and reportedly $50 million in revenue as of 2022, the company has demonstrated strong market fit and a proven business model.
The deprecation of third-party cookies has made DISQO's first-party data approach increasingly valuable, positioning the company perfectly for the future of digital marketing and consumer insights. Its substantial $85 million Series B round provides the capital needed for aggressive growth and market expansion, making it a strong candidate for near-term unicorn status.
Krisp: Transforming Enterprise Communication
Founders: Davit Baghdasaryan, Artavazd Minasyan
Sector: Artificial Intelligence, SaaS, Communication Technology
Last Public Valuation: $114 million (2021)
While Krisp initially gained fame for its AI-powered noise-cancellation technology used by millions, the company has strategically evolved to target the massive contact center industry. The 2025 launch of its patented AI Accent Conversion technology represents a game-changing innovation for global contact centers.
Krisp has demonstrated compelling return on investment, with case studies showing dramatic improvements in customer satisfaction and sales conversions. One notable example with travel company Arrivia revealed a 99% increase in Net Promoter Score and a 26.1% boost in sales conversions. By focusing on the multi-billion-dollar contact-center-as-a-service market, Krisp is positioning itself for rapid revaluation as its enterprise solutions gain market share.
Podcastle: Democratizing Content Creation
Founder: Arto Yeritsyan
Sector: AI, SaaS, Creator Economy
Total Funding: $22.2 million
Podcastle has positioned itself as an all-in-one, AI-powered platform that democratizes audio and video content creation. The platform simplifies recording, editing, and distribution, making professional-quality production accessible to podcasters, marketers, and educators worldwide. What sets Podcastle apart is its AI-first approach—unlike competitors that add AI features as afterthoughts, Podcastle built its platform from the ground up with artificial intelligence at its core.
The company's $13.5 million Series A round in February 2024, led by London-based Mosaic Ventures, signals strong investor confidence in the explosive growth of the creator economy. With the podcasting and video sectors continuing to expand rapidly, Podcastle is perfectly positioned to capture this growth by lowering barriers to entry for new creators.
SoloLearn: Revolutionizing Tech Education
Founder: Yeva Hyusyan
Sector: EdTech, E-learning
Total Funding: $30.9 million
SoloLearn has built a global mobile-first learning platform that empowers individuals to learn coding through a gamified, peer-to-peer experience. The platform has created a powerful network effect, becoming a go-to destination for aspiring developers worldwide with over 20 million users. The company's strength lies in its vibrant community where users not only learn but also create content, review lessons, and help one another, creating a virtuous cycle that enhances the learning experience and drives organic growth.
SoloLearn's $24 million Series B in July 2021, led by Drive Capital (which also backed unicorn Duolingo), provided the capital needed to achieve significant scale. With the ever-increasing demand for technical skills and its massive user base, SoloLearn has numerous avenues for expanding revenue streams, including advanced premium content, corporate training programs, and career placement services—all critical factors for achieving unicorn-level valuation.
The Armenian Advantage
The remarkable success of Armenian entrepreneurs in creating unicorn companies stems from a unique combination of factors: a cultural emphasis on education and intellectual achievement, a history of resilience forged through adversity, and strong community networks that span the globe. These six established unicorns, representing over $45 billion in combined value, along with the emerging next generation of candidates, demonstrate that Armenian entrepreneurship continues to drive innovation and economic growth on a global scale.
From ServiceTitan's transformation of trade services to Moderna's revolutionary mRNA technology, Armenian founders have consistently identified underserved markets and developed groundbreaking solutions. As Gecko Robotics joins this elite group and companies like SuperAnnotate, DISQO, and Krisp position themselves for similar success, it reinforces the Armenian community's outsized contribution to technological advancement and economic prosperity worldwide.
The success of these unicorns also highlights the importance of immigrant entrepreneurship in driving American innovation, with Armenian founders creating thousands of jobs and contributing billions in economic value while honoring their cultural heritage and supporting their homeland's development as an emerging technology hub.
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