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Visualizing the Best Funded Startup in Each State

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Visualizing the Best Funded Startup in Each State

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:

RankStateCompanyDisclosed Equity Funding ($M)
#1CaliforniaUber$15,208
#2New YorkInfor$2,633
#3FloridaMagic Leap$2,354
#4VirginiaOneWeb$2,219
#5MassachusettsDraftKings$728
#6UtahDomo$698
#7IllinoisAvant$655
#8GeorgiaGreenSky$610
#9North CarolinaAvidXChange$574
#10ColoradoWelltok$326
#11DCVox Media$325
#12ArizonaIO Data Centers$311
#13MarylandTenable Network Security$301
#14TexasWP Engine$289
#15WashingtonAvalara$253
#16MinnesotaBright Health$240
#17DelawareSevOne$204
#18KansasC2FO$200
#19Rhode IslandUpserve$192
#20New JerseyVidyo$160
#21IdahoCradlePoint$155
#22OregonVacasa$144
#23MichiganDuo Security$119
#24PennsylvaniaDuolingo$108
#25MissouriVarsity Tutors$107
#26NebraskaHudl$106
#27TennesseeDigital Reasoning Systems$106
#28ArkansasAcumen Brands$93
#29ConnecticuteVariant$90
#30OhioEverything But The House$85
#31IowaInvolta$72
#32IndianaScale Computing$69
#33LouisianaLucid$64
#34South CarolinaCommerce Guys$46
#35New MexicoSkorpios Technologies$45
#36New HampshireParallel Wireless$45
#37WisconsinPropeller Health$43
#38NevadaPlayStudios$36
#39West VirginiaGeostellar$30
#40KentuckyLucina Health$23
#41MontanaBlackmore Sensors & Analytics$22
#42AlabamaAfterSchool$16
#43OklahomaWeather Decision Technologies$11
#44MississippiNext Gear Solutions*$11
#45MaineTilson Technology Management$11
#46North DakotaMyriad Mobile$9
#47VermontFaraday$6
#48HawaiiIbis Networks$5
#49WyomingGreen House Data*$4
#50South DakotaCovered Insurance Solutions$2
#51AlaskaResource 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.

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Misc

The Type of Business Every Country Wants to Start

This series of maps shows a regional breakdown of the most popular types of businesses people want to start, based on online search results.

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The Type of Business Every Country Wants to Start

View a higher resolution version of this map.

Every year, millions of new businesses are started across the world—in 2021, nearly 5.4 million new business applications were filed in the U.S. alone.

And since startups and new businesses play a significant role in shaping a country’s economic growth, encouraging entrepreneurship is vital. But what types of businesses around the world are people most interested in starting?

These maps by ZenBusiness show the most popular types of businesses that entrepreneurs in nearly every country want to start, based on analyzing relevant internet search results.

Most Searched Businesses Around the World

To source the data, ZenBusiness analyzed searches from Ahrefs, specifically looking for the term “start a business” and its equivalents in local languages as of February 2022.

They then found the relevant topic or keyword with the highest search volume, and organized the results into 11 different industries:

  • Beauty & Cosmetics
  • Food & Drink
  • Logistics & Infrastructure
  • Personal Services
  • Recycling
  • Software Development
  • Business & Financial
  • Leisure & Tourism
  • Marketing
  • Real Estate
  • Retail & E-Commerce

The data showed that the industries entrepreneurs are most attracted to vary greatly from country to country, depending on a variety of factors such as infrastructure, business climate, and culture.

Here’s a breakdown of the most searched businesses around the world, broken down by region.

Africa

Map of the most searched businesses in Africa

From cooking gas refills in South Africa to supplements in the Gambia, entrepreneurs across Africa seem to be interested in starting a wide range of businesses (at least according to their searches).

But while the results varied across the region, the most-searched industry was personal services such as cleaning, interior design, and contracting. Cleaning was especially popular, ranking first in six different African countries.

One African country worth highlighting is Morocco, where freight is the most-searched startup term across the country. This makes sense considering Morocco is home to several major ports, including the Port of Tanger Med, which is Africa’s largest port by cargo capacity.

Europe

Map of the most searched businesses in Europe

In Europe, real estate is the most-searched industry, ranking number one in seven different countries across the continent. Over the last decade, the European Union’s real estate market has boomed—between 2010 and 2021, home prices in the EU increased by 42%.

Retail is also a popular industry across Europe, with clothing-related searching taking the top spot in five different European countries.

Middle East & Central Asia

Map of the most searched businesses in the Middle East

From soap production in Uzbekistan to dropshipping in Azerbaijan, the Middle East & Central Asia have the most diverse searches compared to any other region.

One particularly interesting top search was in the United Arab Emirates, where imports and exports ranked first. The UAE’s economy is heavily reliant on trade, especially oil, which makes up 30% of the region’s GDP and 41% of public revenues.

Rest of Asia & Oceania

Map of the most searched businesses in Asia and Oceania

Asia and Oceania had an interesting mix of unique business searches. For instance, pig farming ranked number one in the Solomon Islands, and lawn moving took the top spot in New Zealand.

But generally speaking, retail was one of the most-searched-for business types across this region, with clothing taking the top spot in countries like Australia, Indonesia, and Singapore.

North America

Map of the most searched businesses in North America

Across North America, retail takes the top spot for most searched business type. In fact, the top searches in nearly half of the region’s countries are related to the retail or e-commerce industry.

The U.S. currently has the largest retail market in the world, although China is close on its heels. In 2021, America’s retail market was valued at over $6.5 trillion U.S. dollars.

South America

Map of the most searched businesses in South America

Food was the top searched industry across South America, ranking number one in half the countries across the region. In Brazil, sweets took the top spot, which might not be surprising considering the country is the top sugar cane producer worldwide.

Clothing was also a popular business idea, taking the top spot in five South American countries.

Which countries surprised you the most with their new business interest?

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