These 15 startups didn't exist 5 years ago — now they're worth billions

For the purposes of this list, Business Insider asked PitchBook Data to pull a list of US-based companies that were founded in 2012 or later — since we're nearing the end of 2016 — and that are private tech companies with a valuation of north of $1 billion.

We then ranked them from least to most valuable based on their post-money valuations.

Here are the companies that achieved billion-dollar valuations in the last five years:

Cylance

Founded: 2012

Cylance built a product that uses artificial intelligence to analyze a file you're about to open, determine if it's malware, and then stop it from executing — all in less than a second. It solves the problem of email phishing scams, which are still a favorite method of hackers, and has over 1,000 customers, it says.

Cylance was founded by Stuart McClure and Ryan Permeh, two well-known names in security who are perhaps best known for their work at McAfee.

Compass

Founded: 2012

While Compass functions like a traditional broker, the company's promise is using technology to reduce the time and friction of buying and selling a house or apartment. In July, Compass released an app designed to replace "stale" quarterly market reports with more dynamic information. In the app, buyers and sellers can search by standard things like neighborhood, number of bedrooms, price range, and so on. But they can also look at more advanced metrics, like year-over-year analysis of median price per square foot, days on the market, and negotiability.

Illumio

Founded: 2013

In 2014, Illumio emerged from stealth. Six months later, it had already racked up a billion dollar valuation, thanks to its new approach to security. t places a tiny bit of code (called an agent) on every computer and operating system to watch all the apps. Companies can then install the software that watches the apps in their own data center, or they can hire Illumio's cloud service to watch the apps for them. And then the security follows the app wherever it goes, even if an app moves from one server to another, or from the data center to a cloud computing service.

Carbon3D

Founded: 2013

Carbon3D grabbed headlines and attention for its method of seemingly creating shapes out of a liquid resin soup. It's much more complicated than that, but Carbon3D has caught the eye of everyone from Ford to Johnson & Johnson. While Ford imagines a future of speedy customizable parts, like custom designed cup holders, healthcare operators are looking at Carbon3D for a fast way to create surgical parts.

The machines are already being tested less than a year after they launched. In April, it released its M1 printer.

Opendoor

Founded: 2014

Uptake Technologies

Founded: 2014

Flatiron Health

Founded: 2012

Valuation: $1.2 billion

Flatiron Health is

Zoox

Founded: 2014

Despite remaining in stealth, Zoox has already raised $290 million for its unseen product. The only hint its founder Tim Kentley-Klay has given was at a conference in October when he described it as Disneyland on the streets:

Instacart

Founded: 2012

Oscar

Founded: 2012

Quanergy

Founded: 2012

Self-driving car startups aren't the only billion-dollar bets around. Quanergy isn't building its own car, but instead specializes in building LiDAR systems — the 3D sensing systems that self-driving cars use to the see the world. Already the startup has struck partnerships with vehicle-makers including Mercedes-Benz and Hyundai.

Blue Apron

Founded: 2012

Avant

Founded: 2012

One of two highly-valued Chicago startups, online lending company Avant targets subprime borrowers — people with lower credit scores. To date, the startup has given out more than 500,000 loans, totaling more than $3 billion.

Zenefits

Founded: 2012

Pivotal Software

Founded: 2013