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)|
|#12||Arizona||IO Data Centers||$311|
|#13||Maryland||Tenable Network Security||$301|
|#27||Tennessee||Digital Reasoning Systems||$106|
|#30||Ohio||Everything But The House||$85|
|#34||South Carolina||Commerce Guys||$46|
|#35||New Mexico||Skorpios Technologies||$45|
|#36||New Hampshire||Parallel Wireless||$45|
|#41||Montana||Blackmore Sensors & Analytics||$22|
|#43||Oklahoma||Weather Decision Technologies||$11|
|#44||Mississippi||Next Gear Solutions*||$11|
|#45||Maine||Tilson Technology Management||$11|
|#46||North Dakota||Myriad Mobile||$9|
|#49||Wyoming||Green House Data*||$4|
|#50||South Dakota||Covered Insurance Solutions||$2|
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:
The Best Funded Startup In Every Other State (50 companies):
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.
10 Proven Ways to Build Trust With Employees
Trust is the glue of modern organizations to ensure collaboration and healthy conflict. Here are proven ways to build trust with employees.
Making progress towards ambitious and complex organizational objectives can be a tricky endeavor for even the most accomplished of teams.
But if there was ever a surefire recipe to make this undertaking more difficult, it’d be embarking on these kinds of goals with a team that doesn’t actually trust each other.
Not only does trust enable individuals to work outside of their silos and collaborate with other people on the team, but trust is also associated with improved communication, job satisfaction, and higher performance levels within organizations.
The Trust Imperative
Today’s infographic comes to us from The Business Backer, and it highlights 10 proven ways to build trust with employees in teams and organizations.
Many of the complex challenges that dot the modern business landscape cannot be solved by a myriad of solo efforts.
Teams are necessary, and working together cannot take place only at a superficial level. To tackle the big problems, teams must have deep-rooted commitments to each other, creating potential for collaboration, healthy conflict, and differences of opinion.
Managers need to trust employees and vice versa, but different types of teams need to trust each other across other business functions as well.
10 Ways to Build Trust
It’s not possible to build trust with employees overnight, but there are some easy ways to kickstart the process.
- Show them the big picture
Ensuring employees have a view of the big picture creates a space for communication and openness.
- Set clear expectations
A lack of clarity of what to expect can lead to confusion, which erodes trust.
- Listen actively
Asking open-ended questions like “How’s the project going?” builds trust and respect.
- Delegate low-risk projects
A cycle of trust can be created, moving up to bigger and more important projects.
- Schedule weekly catch-up meetings
Regular meetings create a trusting environment for people to give and receive feedback.
- Be honest
Even when it is uncomfortable, being honest helps build trust and creates healthy conflict.
- Commit to your word
Trust depends on integrity, and seemingly erratic behavior undermines this.
- Recognize excellent work
This has the biggest effect on trust right after a goal has been met.
- Share a bit about yourself
Oxytocin is released in the brain when we socialize and build trust.
- Let employees work on projects they enjoy
This allows employees to focus on what they care about most, fostering trust.
Consequences of Inaction
It doesn’t matter how smart or experienced your team is.
Without the element of trust, they will not be able to work together in an effective fashion. For this reason, undertaking a mission to enable and build trust with employees is crucial for the success of any modern organization.
Tech Founders Predict the Next Wave of Startup Growth
Which U.S. startups are best poised for growth and spin-off success? This chart shares insights from over 500 tech founders about the state of startups.
Tech Founders Predict the Next Wave of Startup Growth
Today’s tech founders have unique insights into the evolving arena of innovation and are keenly aware of why some companies succeed more than others. Many have worked with multiple startups and have gone on to invest in successful tech unicorns.
This week’s chart comes from First Round’s State of Startups 2018 survey, in which 529 founders shared their predictions on the tech startups best poised for growth and spin-off success.
Tech Startup Valuations
Stripe, the payments startup darling, has already grown from $1.8 billion in valuation in 2013 to over $22 billion today. According to the tech founders surveyed, 19% see Stripe continuing on this path in the years to come.
Q: Which U.S.-based tech startup’s value will increase the most in the next 10 years?
|Rank||Startup||% of respondents|
It’s worth noting that this list includes some startups that have already IPO’d since the survey was released in December 2018.
In fact, in the first half of 2019, we’ve already seen Pinterest, Lyft, Uber, and Slack hit the market. Slack’s public offering was the most notable, as they chose to go the direct listing route. The share price still jumped 48.5% less than 24 hours after they went public.
The Next PayPal Mafia?
The PayPal Mafia is a legendary group of billionaire investor-entrepreneurs that have had far-reaching influence in the tech world since they parted ways with PayPal.
Not only did members of this group go on to start many major unicorns, including YouTube, SpaceX, LinkedIn, and Palantir, but some members have invested in over 100 startups each. This “giving back” has had a monumental impact on the Silicon Valley ecosystem, planting the seeds that would emerge as many of today’s star companies.
Q: Which U.S.-based company is most likely to spin out the next generation of notable founders over the next five years?
|Rank||Startup||% of respondents|
Current tech founders predict that the companies listed in this survey will be perfect launching points for many of the world’s future tech founders.
Of all U.S.-based tech startups, Uber is predicted to be a top contender for producing the next generation of startup talent by 2023.
Other Survey Findings
Interestingly, over 60% of founders believe that the world is in a technology bubble, with evenly split reviews on whether it’s either nowhere close or very close to popping.
While 57% of founders believe the U.S. will continue to dominate the tech world, 39% predict China’s growth will become the world’s hub for tech innovation by 2028.
Only time will tell, as tensions between the U.S. and China continue to heat up, and the global recruitment of tech talent becomes increasingly competitive.
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