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Startup funding by state
Startups with Form D filings in the last 12 months, by the state on the filing. 350 startups that list only a registered-agent address are not placed in a state.
| State | Startups | New rounds | Reported sold | Top city |
|---|---|---|---|---|
| California | 1,189 | 1,235 | $55.92B | San Francisco |
| New York | 569 | 623 | $12.96B | New York |
| Texas | 410 | 420 | $10.53B | Austin |
| Florida | 369 | 407 | $2.06B | Miami |
| Massachusetts | 362 | 341 | $5.95B | Boston |
| Washington | 234 | 235 | $1.64B | Seattle |
| Colorado | 210 | 226 | $5.44B | Denver |
| Illinois | 157 | 157 | $568.2M | Chicago |
| Pennsylvania | 153 | 143 | $730.8M | Pittsburgh |
| Virginia | 146 | 148 | $1.06B | Arlington |
| North Carolina | 130 | 140 | $888.7M | Durham |
| Minnesota | 114 | 108 | $476.9M | Minneapolis |
| Maryland | 111 | 116 | $635.3M | Baltimore |
| New Jersey | 111 | 107 | $477.3M | Jersey City |
| Ohio | 105 | 103 | $434.1M | Cincinnati |
| Arizona | 97 | 102 | $328.7M | Phoenix |
| Georgia | 92 | 98 | $819.4M | Atlanta |
| Tennessee | 89 | 93 | $471.7M | Nashville |
| Utah | 85 | 95 | $573.7M | Salt Lake City |
| Michigan | 70 | 74 | $427.9M | Ann Arbor |
| Indiana | 67 | 70 | $215.8M | Indianapolis |
| Connecticut | 63 | 66 | $331.2M | New Haven |
| Oregon | 62 | 56 | $353.7M | Portland |
| Nevada | 50 | 53 | $762.2M | Las Vegas |
| Wisconsin | 44 | 44 | $149.8M | Madison |
| Delaware | 42 | 40 | $66.7M | Wilmington |
| District of Columbia | 37 | 43 | $418.0M | Washington |
| South Carolina | 37 | 37 | $45.5M | Greenville |
| Alabama | 34 | 40 | $268.6M | Birmingham |
| Missouri | 34 | 60 | $169.4M | St. Louis |
| Louisiana | 31 | 28 | $39.2M | New Orleans |
| Iowa | 30 | 29 | $180.7M | Des Moines |
| Maine | 28 | 27 | $41.4M | Portland |
| Idaho | 27 | 23 | $40.9M | Boise |
| Nebraska | 26 | 25 | $65.7M | Omaha |
| Kentucky | 24 | 24 | $42.8M | Louisville |
| New Hampshire | 21 | 21 | $34.9M | Portsmouth |
| Wyoming | 21 | 24 | $71.7M | Cheyenne |
| Mississippi | 15 | 17 | $21.0M | Starkville |
| Oklahoma | 15 | 13 | $24.0M | Oklahoma City |
| Rhode Island | 15 | 15 | $35.5M | Providence |
| Kansas | 12 | 11 | $270.0M | Overland Park |
| Montana | 12 | 13 | $22.6M | Bozeman |
| New Mexico | 12 | 13 | $67.8M | Albuquerque |
| North Dakota | 12 | 11 | $14.3M | Fargo |
| Vermont | 12 | 9 | $7.9M | Burlington |
| Arkansas | 9 | 9 | $5.2M | Fayetteville |
| South Dakota | 7 | 4 | $5.5M | Sioux Falls |
| Hawaii | 5 | 4 | $3.7M | Honolulu |
| Alaska | 4 | 4 | $12.6M | Juneau |
| Puerto Rico | 2 | 6 | $5.3M | San Juan |
| West Virginia | 2 | 2 | $460K | Scott Depot |