Bay Area
Supercluster · United States · Pop. 7.7M · #1 city by EV
* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.
Quarterly report
Bay Area's latest quarter in venture capital
VC raised by Bay Area-headquartered companies in the quarter shown, against the quarter before and the same quarter a year earlier.
Latest complete quarter
Loading VC raised by Bay Area-headquartered companies…
Largest rounds
Largest funding rounds in Bay Area
A live treemap of the largest VC rounds. Each cell is one round into Bay Area-headquartered companies, grouped by Dealroom sector.
Largest rounds in Bay Area - 2026
VC investment
How much venture capital flows into Bay Area
VC investment into Bay Area-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
Academia
Bay Area's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Bay Area.
| # | University | City | Based here | Companies |
|---|---|---|---|---|
| 1 | 🇺🇸Stanford University | Stanford, CA | 280 | 13K |
| 2 | 🇺🇸Harvard University | Cambridge, MA | 130 | 9,055 |
| 3 | 🇺🇸UC Berkeley | Berkeley, CA | 130 | 8,909 |
| 4 | 🇺🇸MIT | Cambridge, MA | 90 | 9,472 |
| 5 | 🇺🇸University of Pennsylvania | Philadelphia, PA | 38 | 3,653 |
| 6 | 🇺🇸Carnegie Mellon University | Pittsburgh, PA | 32 | 2,845 |
| 7 | 🇮🇱Technion – Israel Institute of Technology | Haifa | 22 | 2,323 |
| 8 | 🇺🇸Princeton University | Princeton, NJ | 22 | 2,517 |
Location comparison
How Bay Area stacks up
Compare Bay Area with peers from the same country (United States) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top cities in United States ranked by combined EV. Bay Area's row is highlighted (#1).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Bay Area | $20.3T | 9.7× | 886 | $157B | 24.5K |
| 2 | Seattle | $2.9T | 30.2× | 70 | $6.8B | 2,947 |
| 3 | Austin | $2T | 22.1× | 61 | $7.8B | 2,679 |
| 4 | New York City | $1.6T | 5.3× | 328 | $32.6B | 16.6K |
| 5 | Boston | $1.2T | 5.1× | 209 | $12.9B | 6,293 |
| 6 | Los Angeles | $911B | 4.6× | 163 | $17.3B | 8,638 |
| 7 | Miami | $690B | 12.3× | 43 | $2.9B | 2,914 |
| 8 | San Diego | $332B | 5.3× | 63 | $3.4B | 2,214 |
| 9 | Chicago | $266B | 3.3× | 54 | $2.2B | 2,808 |
| 10 | Washington DC | $263B | 4.3× | 55 | $3.6B | 2,336 |
| 11 | Dallas | $224B | 4.2× | 47 | $2.1B | 2,053 |
| 12 | Research Triangle | $144B | 3.4× | 27 | $1.7B | 1,053 |
Sector concentration
Where Bay Area punches above its weight
Sectors in which Bay Area's share of the global unicorn pool is bigger than its overall share. A 5× over-index means Bay Area is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.
More data
Explore Dealroom data →Get the full Bay Area ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.