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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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Where Will the Next Billion Internet Users Come From?

When it comes to worldwide internet use, which regions are the most disconnected? And which regions have the most opportunity for growth?

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Where Will the Next Billion Internet Users Come From?

Internet adoption has steadily increased over the years—it’s more than doubled since 2010.

Despite its widespread use, a significant portion of the global population still isn’t connected to the internet, and in certain areas of the world, the number of disconnected people skews towards higher percentages.

Using information from DataReportal, this visual highlights which regions have the greatest number of people disconnected from the web. We’ll also dive into why some regions have low numbers, and take a look at which countries have seen the most growth in the last year.

Top 10 Most Disconnected, by Number of People

The majority of countries with lower rates of internet access are in Asia and Africa. Here’s a look at the top 10 countries with the highest numbers of people not connected to the web:

RankCountry / TerritoryUnconnected People% of Population
1India685,591,07150%
2China582,063,73341%
3Pakistan142,347,73565%
4Nigeria118,059,92558%
5Bangladesh97,427,35259%
6Indonesia96,709,22636%
7Ethiopia92,385,72881%
8Democratic Republic of Congo71,823,31981%
9Brazil61,423,29529%
10Egypt46,626,17046%

*Note: Rankings only include countries/territories with populations over 50,000.

Interestingly, India has the lowest levels of connectivity despite having the second largest online market in the world. That being said, 50% of the country’s population still doesn’t have internet access—for reference, only 14% of the U.S. population remains disconnected to the web. Clearly, India has some untapped potential.

China takes second place, with over 582 million people not connected to the internet. This is partly because of the country’s significant rural population—in 2019, 39% of the country’s population was living in rural areas.

The gap in internet access between rural and urban China is significant. This was made apparent during China’s recent switch to online learning in response to the pandemic. While one-third of elementary school children living in rural areas weren’t able to access their online classes, only 5.7% of city dwellers weren’t able to log on.

It’s important to note that the rural-urban divide is an issue in many countries, not just China. Even places like the U.S. struggle to provide internet access to remote or rugged rural areas.

Top 10 Most Disconnected, by Share of Population

While India, China, and Pakistan have the highest number of people without internet access, there are countries arguably more disconnected.

Here’s a look at the top 10 most disconnected countries, by share of population:

RankCountry / Territory% of PopulationUnconnected People
1North Korea100%25,722,103
2South Sudan92%10,240,199
3Eritrea92%3,228,429
4Burundi90%10,556,111
5Somalia90%14,042,139
6Niger88%20,977,412
7Papua New Guinea88%7,761,628
8Liberia88%4,372,916
9Guinea-Bissau87%1,694,458
10Central African Republic86%4,132,006

There are various reasons why these regions have a high percentage of people not online—some are political, which is the case of North Korea, where only a select few people can access the wider web. Regular citizens are restricted from using the global internet but have access to a domestic intranet called Kwangmyong.

Other reasons are financial, which is the case in South Sudan. The country has struggled with civil conflict and economic hardship for years, which has caused widespread poverty throughout the nation. It’s also stifled infrastructural development—only 2% of the country has access to electricity as of 2020, which explains why so few people have access to the web.

In the case of Papua New Guinea, a massive rural population is likely the reason behind its low percentage of internet users—80% of the population lives in rural areas, with little to no connections to modern life.

Fastest Growing Regions

While internet advancements like 5G are happening in certain regions, and showing no signs of slowing down, there’s still a long way to go before we reach global connectivity.

Despite the long road ahead, the gap is closing, and previously untapped markets are seeing significant growth. Here’s a look at the top five fast-growing regions:

RankRegionChange in internet use (From 2019 to 2020)
1Central Africa+40%
2Southern Asia+20%
3Northern Africa+14%
4Western Asia+11%
5Caribbean+9%

Africa has seen significant growth, mainly because of a massive spike of internet users in the Democratic Republic of Congo (DRC)—between 2019 and 2020, the country’s number of internet users increased by 9 million (+122%). This growth has been facilitated by non-profit organizations and companies like Facebook, which have invested heavily in the development of Africa’s internet connectivity.

India has also seen significant growth—between 2019 and 2020, the number of internet users in the country grew by 128 million (+23%).

If these countries continue to grow at similar rates, who knows what the breakdown of internet users will look like in the next few years?

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The World’s Tech Giants, Ranked by Brand Value

Tech giants and e-commerce brands are thriving—and running circles around less pandemic-proof brands.

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The World’s Tech Giants, Ranked by Brand Value

The pandemic has businesses everywhere on the ropes, with many firms filing for bankruptcy since lockdowns began. Despite the uncertainty, tech giants and major digital retail brands are still thriving—and some are running circles around those that are less pandemic-proof.

Using data from Kantar and Bloomberg, a recent brand report released by BrandZ shows which tech companies are proving their worth to consumers during COVID-19 chaos. With data covering almost 4 million consumers, BrandZ also reveals that the tech sector leads the world’s 100 most valued brands in terms of financial power and consumer sentiment.

Here’s how the top 20 tech brands from the report stack up:

RankCompanyBrand Value (2020)Change (%)
#1🇺🇸 Apple$352 billion+14%
#2🇺🇸 Microsoft$327 billion+30%
#3🇺🇸 Google$324 billion+5%
#4🇨🇳 Tencent$151 billion+15%
#5🇺🇸 Facebook$147 billion-7%
#6🇺🇸 IBM$84 billion-3%
#7🇩🇪 SAP$58 billion0%
#8🇺🇸 Instagram$42 billion+47%
#9🇺🇸 Accenture$41 billion+6%
#10🇺🇸 Intel$37 billion+17%
#11🇺🇸 Adobe$36 billion+29%
#12🇰🇷 Samsung$33 billion+7%
#13🇺🇸 Salesforce$30 billion+13%
#14🇺🇸 LinkedIn$30 billion+31%
#15🇨🇳 Huawei$29 billion+9%
#16🇺🇸 Oracle$27 billion+2%
#17🇺🇸 Cisco$26 billion-9%
#18🇺🇸 Dell$18 billion-2%
#19🇨🇳 Xiaomi$17 billion-16%
#20🇨🇳 Baidu$15 billion-29%

Out of the top five tech brands, Microsoft made the biggest moves with 30% brand value growth. Other big movers in the top 20 were Instagram (owned by Facebook), Adobe, and LinkedIn (owned by Microsoft), rising 47%, 29%, and 31%, respectively.

Broken down by nation, U.S. brands are dominating tech’s heavy hitters, claiming 14 of the world’s top 20 tech brands. Chinese brands round out much of the remaining top 20, including tech entertainment and social media giant Tencent, which rose 15% in brand value since 2019.

Big Tech’s Heavyweights

Tech’s top brands are raking in billions of dollars, capturing consumer mindshare, captivating people, and comforting them during volatile months. Apple, Microsoft, Google, Tencent, and Facebook—tech’s leading contingent—have made those moves look easy during what are rough times for many world brands. 

While most tech brands in the upper half of the top 20 saw significant increases in brand value, only Facebook and IBM were in decline from 2019, at -7% and -3% respectively. The biggest loss in tech’s top 20 came from China’s Baidu, which fell by -29% in 2020.

Waning consumer trust, thanks in part to the perceived misuse of personal data, is a gap that tech’s popularity alone won’t fill forever. (Following the Cambridge Analytica scandal, nearly 25% of Facebook account holders reported being “extremely” or “very” concerned about their personal data.)

Pandemic-Proof Applications

Coming in at eighth place, Facebook-owned Instagram gained 47% in brand value—a huge percentage, but less than the whopping 95% growth it had in 2019.

On the whole, digital apps have been faring well during the pandemic, especially those built for entertainment, shopping, social connection, and delivery.

These brands had anticipated, even invented, the online-offline dynamics of modern life that became indispensable for survival during the lockdown homebound weeks of avoiding the contagion. 

— BrandZ 2020 Global Top 100 Report

Top Brands, by Category

While the brand value growth rates of tech giants aren’t entirely immune to the effects of COVID-19, the likes of Apple, Microsoft, and Google are growing steadily, surpassed only by e-commerce leader Amazon. 

With data collected into April 2020, BrandZ’s report on the world’s top 100 brands reflects multiple shifting needs and consumer concerns at a categorical scale. 

While consumer affinity for e-commerce and social media brands has increased, fast food and beer brands took a hit, despite reports of increased alcohol consumption and food delivery during lockdown. It would seem then, that consumers have been valuing their tools and means of consumption.

Of the report’s 14 brand categories, only six increased in value, mostly by less than 5%. Of the top risers, six were tech brands and six were mainly e-commerce. 

Other upwardly mobile brands were those in the apparel and personal care categories. Much like retail, those categories had an increasing reliance on technology to deliver their products. 

The above chart shows overall categorical changes for 2020 led by retail, tech, and insurance. In the opposite corner, energy, and bank brands took the biggest hits.

Rolling with the Punches

The economic impacts of COVID-19 are undeniable. Even still, BrandZ’s top 100 brands marked a steady increase of 6% in value in 2020, compared to 7% the previous year.

This pandemic has offered up era-defining change, with tech and e-commerce seizing the day. But in a climate where nothing can be taken for granted, brands large and small are still taking their knocks.

For now, the brands that are embraced by consumers will be those that can apply a salve to the blows that 2020 keeps delivering. 

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