The 2025 edition of Forbes' Next Billion-Dollar Startups list has cast a spotlight on the burgeoning role of artificial intelligence (AI) in shaping the future of business, with 20 out of the 25 featured U.S.-based, venture-backed companies focusing on AI applications. This year's selection, a result of a decade-long collaboration with TrueBridge Capital Partners, showcases startups across healthcare, accounting, defense, and creative tooling, highlighting the diverse potential of AI technologies.
Among the notable companies, Forterra, founded by engineers Alberto Lacaze and Karl Murphy, stands out for its innovative contributions to defense technology. The Maryland-based startup has secured a $93 million contract from the U.S. Army to produce mine-clearing robots and is involved in developing self-driving missile launchers for the Marines. With $303 million in funding from backers like Hedosophia, Moore Strategic Ventures, and XYZ Venture Capital, Forterra exemplifies the high-growth potential of AI-driven solutions in national security.
The Forbes list, known for its rigorous selection process, emphasizes founders' vision, early traction, investor backing, and projected 2024 revenues. This year's cohort includes AcuityMD, a Boston startup leveraging de-identified data to connect medical device manufacturers with the right physicians, and Agentio, a New York-based marketplace linking brands with influencers. These companies, along with others like Basis for AI accounting software and Graphite for AI-assisted code reviews, illustrate the wide-ranging impact of AI across industries.
Forterra's inclusion in the list not only highlights its technological advancements but also underscores the strategic importance of AI in defense and security. The company's achievements reflect a broader trend of AI startups achieving significant milestones, with Forbes noting that more than half of past list alumni have reached unicorn status. This year's selection reaffirms the transformative potential of AI, with startups like Forterra leading the charge in innovation and application.
