The market is optimistic about more companies going public this year, thanks in part to a new presidential administration that has promised to ease regulations and embrace industries like Crypto and AI.
But there were already early signs of optimism, especially in FinTech, thanks to the successful IPO of Servicetitan 2024, a SaaS platform for buying and selling securities.
The list below contains companies that have either announced plans to go public this year or have been reported to have confidentially filed for a 2025 IPO. Also included are those that filed as early as 2023 and could eventually go public this year.
A confidential filing allows companies to submit their registration documents to regulators without making them public. But companies can delay or even withdraw their filings, depending on market conditions.
Archived in 2025
eTorus: The Israel-based trading platform filed confidentially in January 2025, reportedly seeking a $5 billion valuation.
Voyager Technologies: The space and defense technology startup filed confidentially in January 2025 and will likely be valued between $2 billion and $3 billion, according to the Reports The Wall Street Journal. The Denver-based company sells a wide variety of solutions for puddening y space based on airlock propulsion technologies.
Karman Holdings: Another space and defense startup, Karman has confidentially filed to go public in January 2025 and aims to raise up to $100 million in an IPO, announcingThe company, which specializes in missile technology, is based in Huntington Beach, California, and could be valued at $3 billion or more, Bloomberg reported.
In preparation since 2024
chime: The digital bank confidentially filed for an IPO in December 2024 and is looking to go public in 2025. The San Francisco-based company was last valued at $25 billion in 2021.
Klarna: The Swedish “buy now, pay later” (BNPL) FinTech confidentially filed in November 2024 for a long-in-the-works IPO, paving the way for it to go public sometime in the first half of 2025. Klarna’s valuation rose to $14.6 billion in 2024.
Genesys: The AI cloud startup announcing its confidential filing in October 2024. The company is based in Menlo Park, California, and was most recently valued at $21 billion in 2021, it said in a releaseThe company is eyeing an IPO in 2025 that could raise as much as $2 billion, according to the Reports from Bloomberg.
Clario: The clinical trial software provider submitted the documentation confidentially in June 2024, seeking a $10 billion valuation. The Philadelphia-based company is looking to go public in 2025, according to reported Bloomberg.
Brains: The chip startup that aims to compete with NVIDIA he presented The startup has confidentially announced its IPO in August 2024, the Sunnyvale-based company reportedly aims to roughly double its current $4 billion valuation. The startup's plans face potential delays due to concerns from U.S. regulators about its close ties to G42, a UAE investor and its largest customer, according to the company. Reports from Reuters. Fun fact: Openai considered buying Cerebras in 2017.
Circle: The New York-based stablecoin provider confidentially filed in January 2024. While the exact timing remains unclear, in October 2024, Circle CEO Jeremy Allaire, told Bloomberg which was “very committed” to going public despite previous delays. President Trump’s support for crypto and promise to end government crackdowns on the industry could bolster its chances. The company’s valuation is around $5 billion based on the shares that have been trading on the secondary market, in the Reports from Coindesk.
Harry's: The New York-based consumer company, which makes razors and other personal care items for men, has confidentially filed to go public, published in March 2024 by Reuters, citing sources that the company was close to $1 billion in revenue and is profitable. The firm was valued at $1.7 billion in 2021.
OmadaHealth: The San Francisco-based diabetes startup confidentially filed for summer 2024, according to the news from Business Insider with hopes of a more favorable IPO market in 2025. His latest assessment is $1 billion in 2022.
Trying since 2023
Shein: The fast fashion giant confidentially filed for an IPO in the United States in 2023, but its hopes were dashed amid Congressional scrutiny of its supply chain and labor practices. Then was presented Shein, based in Singapore and with operations in China, has a final say in listing in the UK in 2024 and is still seeking an IPO in 2025, although its UK foray is also meeting resistance from lawmakers there. valuation at $45 billion In 2024, which is down from its $100 billion valuation in 2022.
Gen.Atlantic: The San Francisco-based investor, who has backed companies including Facebook and Airbnb, confidentially filed for an IPO in 2023, according to BloombergThe firm has $96 billion in assets under management following its acquisition of UK physical education firm Actis, published in January 2024. However, there have been no public updates on General Atlantic's IPO plans since its 2023 filing.
Oyo: SoftBank-backed Indian hotel search engine confidentially launched in India in March 2023, according to Reuters after a previous failed attempt. While that attempt did not work, the company is it is planning to be introduced again in the first quarter of 2025. Oyo reached $3.8 billion assessment in 2024.
