Entrepreneurship
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 $1 million in disclosed equity financing since 2015.
Here’s the best funded startup in each state (and D.C.) as of May 23, 2018:
Rank | State | Company | Disclosed Equity Funding ($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.
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.

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
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
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
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
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
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
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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