After two years of IPO drought, 2026 is shaping up as the biggest year for SaaS public offerings since 2021. Fifteen unicorns are expected to list, representing $150 billion+ in combined valuation.
Expected IPOs
- Canva ($40B valuation): design platform
- Databricks ($43B): data and AI platform
- Stripe ($65B): payments infrastructure
- Klarna ($15B): buy-now-pay-later
- Discord ($15B): communication platform
Investor appetite has returned as interest rates stabilize and SaaS revenue multiples recover to 10-15x ARR for high-growth companies (up from 5-8x in 2023).
