The tech industry is bracing for a potential IPO boom in 2025, with several companies already filing confidentially to go public. The optimism is fueled in part by the new presidential administration's promise to ease regulations and embrace industries like crypto and AI. This bullishness is particularly evident in fintech, following the wildly successful 2024 IPO of ServiceTitan, a SaaS platform for the trades.

TechCrunch has compiled a list of companies that have either announced plans to go public this year or have confidentially filed for a 2025 IPO. The list includes eToro, a trading platform seeking a $5 billion valuation, and Voyager Technologies, a space and defense tech startup aiming for a valuation between $2 billion and $3 billion. Karman Holdings, another space and defense startup, has also filed confidentially, seeking to raise up to $100 million in an IPO.

Other companies that have been working on their IPO plans since 2024 include Chime, a digital bank looking to go public in 2025, and Klarna, a Swedish buy now, pay later fintech that confidentially filed in November 2024. Genesys, an AI cloud startup, announced its confidential filing in October 2024, while Clario, a clinical trial software provider, filed in June 2024 seeking a $10 billion valuation.

Cerebras, a chip startup aiming to compete with Nvidia, confidentially filed to IPO in August 2024, although its plans are facing potential delays due to concerns from U.S. regulators about its close ties to G42, a UAE investor and its main customer. Circle, a stablecoin provider, filed confidentially in January 2024, and its CEO has expressed commitment to going public despite prior delays. The company's valuation is around $5 billion, according to stock trading on the secondary market.

Harry's, a New York-based consumer company, has confidentially filed to go public, with revenue nearing $1 billion and a valuation of $1.7 billion in 2021. Omada Health, a San Francisco-based diabetes startup, filed in the summer of 2024, hoping to capitalize on a warmer IPO market in 2025.

Some companies have been trying to go public since 2023, including Shein, a fast-fashion giant that confidentially filed to IPO in the U.S. but faced congressional scrutiny over its supply chain and labor practices. The company reportedly filed confidentially to IPO in the U.K. in 2024 and is still seeking to IPO as of 2025. General Atlantic, a growth equity investor, confidentially filed to go public in 2023, although there have been no public updates on its IPO plans since then. Oyo, a SoftBank-backed Indian hotel aggregator, confidentially filed in India in March 2023 and is reportedly planning to file again in the first quarter of 2025.

The surge in IPO filings is a positive sign for the tech industry, which has been experiencing a resurgence in optimism following the new presidential administration's pro-business stance. As the IPO market continues to heat up, it will be interesting to see which companies ultimately go public and how they perform in the public markets.