6 Comments
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Burak Buyukdemir's avatar

julien this is phenomenal work “you can’t build champions without honest scoreboards” + the 0.78x stress‑test really hit home.

Mighty Nine's avatar

Happy to read these lines Burak 🙏 thank you

Lisa Palchynska's avatar

This doesn’t reflect the actual picture. Ukraine has around 8–9 unicorns, with three of them — Preply, Fintech IT Group, and Uforce — emerging in the last two years. So it’s definitely more than “only Preply survives.”

Mighty Nine's avatar

Hello Lisa👋

Thanks for your support and for sharing this information.

Force was launched in March 2026, after the study was conducted. Fintech IT Group was bootstrapped from 2017 to 2025, when it raised its first funding. The study only considers VC-backed companies.

You’re counting 9 unicorns, but you only mentioned 3. Who are the others?

Lisa Palchynska's avatar

Grammarly, GitLab, Creatio, People.ai, Unstoppable Domains, Preply

Mighty Nine's avatar

The VC-backed unicorns I considered in my study are the following: Unstoppable Domains, People.ai, AirSlate, BitFury, and Preply.

As I mentioned, these two are not included in the list for the reasons I explained in my previous comment: Fintech IT Group and Uforce.

Creatio is similar to Fintech IT Group, as it was a bootstrapped company from 2013 to 2021.

GitLab exited in 2021 through an IPO.

The media often mix up different types of ‘unicorns’ into one category, which is misleading and has created misunderstanding among the public.