Visualizing the Best Funded Startup in Each State

Over the last 20 years, people have flocked from all over the world to Silicon Valley.

It’s the epicenter of the tech boom, and a magnet that attracts talent, ideas, and capital to come together to create new things. Software mania has shifted the most important corporate addresses in the country from the streets of Manhattan to obscure towns like Mountain View, Cupertino, or Menlo Park.

While a booming ecosystem has lured many to the Valley, it’s simultaneously unlocked new technologies that have made it possible to work, collaborate, and build new startups from anywhere.

The result has been the birth of influential startups and ecosystems in every locale imaginable – and today, it’s true that nearly every state has an impressive tech startup to call its own.

Best Funded Startups by State

Today’s infographic comes to us from CB Insights and it showcases the best funded VC-backed startups in every state with more than $1 million in disclosed equity financing since 2015.

Here’s the best funded startup in each state (and D.C.) as of May 23, 2018:

Rank State Company Disclosed Equity Funding ($M)
#1 California Uber $15,208
#2 New York Infor $2,633
#3 Florida Magic Leap $2,354
#4 Virginia OneWeb $2,219
#5 Massachusetts DraftKings $728
#6 Utah Domo $698
#7 Illinois Avant $655
#8 Georgia GreenSky $610
#9 North Carolina AvidXChange $574
#10 Colorado Welltok $326
#11 DC Vox Media $325
#12 Arizona IO Data Centers $311
#13 Maryland Tenable Network Security $301
#14 Texas WP Engine $289
#15 Washington Avalara $253
#16 Minnesota Bright Health $240
#17 Delaware SevOne $204
#18 Kansas C2FO $200
#19 Rhode Island Upserve $192
#20 New Jersey Vidyo $160
#21 Idaho CradlePoint $155
#22 Oregon Vacasa $144
#23 Michigan Duo Security $119
#24 Pennsylvania Duolingo $108
#25 Missouri Varsity Tutors $107
#26 Nebraska Hudl $106
#27 Tennessee Digital Reasoning Systems $106
#28 Arkansas Acumen Brands $93
#29 Connecticut eVariant $90
#30 Ohio Everything But The House $85
#31 Iowa Involta $72
#32 Indiana Scale Computing $69
#33 Louisiana Lucid $64
#34 South Carolina Commerce Guys $46
#35 New Mexico Skorpios Technologies $45
#36 New Hampshire Parallel Wireless $45
#37 Wisconsin Propeller Health $43
#38 Nevada PlayStudios $36
#39 West Virginia Geostellar $30
#40 Kentucky Lucina Health $23
#41 Montana Blackmore Sensors & Analytics $22
#42 Alabama AfterSchool $16
#43 Oklahoma Weather Decision Technologies $11
#44 Mississippi Next Gear Solutions* $11
#45 Maine Tilson Technology Management $11
#46 North Dakota Myriad Mobile $9
#47 Vermont Faraday $6
#48 Hawaii Ibis Networks $5
#49 Wyoming Green House Data* $4
#50 South Dakota Covered Insurance Solutions $2
#51 Alaska Resource Data* $1

It’s important to note that three states did not meet CB Insight’s exact requirements for this list: Alaska, Mississippi, and Wyoming. As a result, those states are represented by private startups that have raised money since 2015, but they have not disclosed any VC-backing.

Uber Versus All

Although prominent startups are being backed by venture capital in practically every state, the Golden State still shows why it’s still the startup mecca. Uber has raised $15.21 billion in funding, which is actually more than the best-funded startup in every state combined together:

Uber (California):
$15.21 billion

The Best Funded Startup In Every Other State (50 companies):
$15.0 billion

The other startups are no slouches either – they are represented by household names like Vox Media (D.C.), Magic Leap (Florida), Draft Kings (Massachusetts), and Domo (Utah), as well as many other successful companies.

Uber is a funding outlier even among California-based companies, with Lyft ($4.8 billion) and Airbnb ($4.4 billion) being the next best funded startups in the state.

Leave a Reply

Your email address will not be published. Required fields are marked *