The United States Of Startups: The Most Well-Funded Tech Startup In Every US State-Project Olympus - Carnegie Mellon University

Monday, January 25, 2016

The United States Of Startups: The Most Well-Funded Tech Startup In Every US State

The tech boom has diffused beyond the traditional hotbeds in California, New York, and Massachusetts, across the the entire United States. Other states are home to well-funded and well-known startups, including Jet (New Jersey), LivingSocial (DC), and sports e-commerce company Fanatics (Florida). The less well-known include Minnesota-based Code42 Software, which has raised $137.5M in equity funding to date.

Using CB Insights data, we analyzed the most well-funded startups by state based on disclosed equity funding. We excluded debt funding and only considered companies that have raised at least $5M of equity funding to date. Companies that haven’t raised since 2011 were not considered.

With these criteria for selection, Hawaii and Alaska are excluded, but all of the continental 48 states and Washington DC are represented. The least well-funded startup is in Louisiana: the education technology startup Kickboard, with $6.8M in equity funding. The most well-funded startup pictured below is Uber in California, with $7.8B of equity funding to date.

Tech unicorns, private companies valued at $1B+, are well-represented among the 50 startups below as they have proliferated across the US. 9 of the companies represented below are unicorns.

For example, American Fork, Utah-based Domo Technologies and Atlanta, Georgia-based Kabbage, both unicorns, are the most well-funded startups in their respective states.

See the infographic below. The full list of startups is included at the end of this post. Read More»