These Are The Leading States For Non-Software Startups
Summary
With this shift in mind, we set out to explore a different kind of geographic funding analysis: One that separates companies in remote-work-leaning sectors and more infrastructure-heavy industries. For Massachusetts, an easy explanation is the Boston area’s historic strength in biotech, which accounts for a majority of the largest non-software rounds this year. Texas, known as a cost-competitive business location with a good tech talent base and room to sprawl, seems like a logical choice for infrastructure-heavy startups. Other states where non-software deals attracted a clear majority of venture funding include Illinois, Ohio, Arizona, Minnesota, Tennessee, Connecticut and Vermont. The largest software funding recipients this year include Chainalysis, a blockchain analytics provider, Jeeves, an expense management platform, and Policygenius, an insurtech startup.