From JUUL and UiPath to Epic Games and Magic Leap, our infographic shows the top private tech company in every state, based on funding totals.
The tech boom has diffused beyond the traditional hotbeds of California, New York, and Massachusetts, spreading across the entire US.
In our latest map of the most well-funded tech startup in each state, some companies with the deepest pockets were found in Florida (Magic Leap, $3B), North Carolina (Epic Games, $3.4B), and Georgia (OneTrust, $721M).
Using CB Insights data, we identified the most well-funded technology startups by state based on total disclosed equity funding. The full list of startups is included below the map.
Our analysis ranks private tech companies based on total disclosed equity funding. Companies included have raised at least $1M in equity funding since January 2016. All companies on our map are VC-backed, with the exceptions of companies in Alaska, Mississippi, and West Virginia.
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- The most well-funded US tech startup is California-based e-cigarette company JUUL Labs, with a whopping $15B in disclosed equity funding.
- After JUUL, the most well-funded startups on our map are North Carolina-based video game developer Epic Games ($3.4B in equity funding) and Florida-based AR/VR company Magic Leap ($3B).
- Our map features 16 unicorn companies valued at $1B+, including robotic process automation (RPA) provider UiPath (NY, $35B valuation), restaurant management system Toast (MA, $3.6B), and delivery service GoPuff (PA, $3.9B).
- New Jersey-based data company OwnBackup is the most recently minted unicorn on our map: the data storage solution reached a $1.4B valuation following its Series D round in January 2021.
- 5 startups on the map have raised over $1B in total disclosed equity financing: JUUL Labs, Epic Games, Magic Leap, UiPath, and GoPuff. All of these are valued at over $1B.
- Including the 5 startups mentioned above, 32 companies on the map have raised $100M or more in equity funding.
- 15 of the startups on our map have raised $50M or less in equity funding. The VC-backed startup with the least funding on the map is Hawaii’s Hobnob ($2.3M in equity funding), a mobile-first events platform.
Since our last update of the map in November 2020, two previously featured startups have exited:
|State||Company||Total Equity Funding ($M)|
|North Carolina||Epic Games||3375|
|Minnesota||Arctic Wolf Networks||348|
|Connecticut||Cedar Gate Technologies||220|
|Rhode Island||Virgin Pulse||125|
|Maine||Tilson Technology Management||109|
|New Mexico||Descartes Labs||58|
|Delaware||College Ave Student Loans||50|
|South Carolina||Commerce Guys||46|
|Mississippi*||Next Gear Solutions||11|
|Alaska*||Wind Talker Innovations||8.6|
*Company is not VC-backed
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
- Patent Analytics to see where innovation is happening next
- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity