Boston
Metro area · United States · Pop. 4.9M · #9 city by EV
Enterprise value · 2015–2025
Boston grew 7.7× since 2015
Combined enterprise value of every tracked startup headquartered in Boston that's still operating today — public and private companies combined, totalled by founding-year cohort.
Adjacent cities by EV
Startup funnel
Boston's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* 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.
Notable companies
Top private companies in Boston
Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.
Academia
Boston's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Boston.
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Notable alumni-founded: Microsoft (founder alumni)Meta / FacebookStripePlaid
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Notable alumni-founded: AkamaiDropboxHubSpotiRobot
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Notable alumni-founded: Warby ParkerCompassBetterCloudOutschool
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Notable alumni-founded: Amazon (founder)
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Notable alumni-founded: DuolingoAuroraArgo AIASAPP
Vs. similarly-sized ecosystems
How Boston stacks up
Peers chosen from the same country (United States), sized closest to Boston by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.
Top overview
United States — top cities
Top cities in United States ranked by combined EV. Boston's row is highlighted.
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | Bay Area | $20.1T | 7.9× | 777 | $157B | 24.3K |
| 2 | Seattle | $3.1T | 10.6× | 68 | $6.6B | 2,935 |
| 3 | Austin | $2T | 14.0× | 56 | $8.1B | 2,481 |
| 4 | New York City | $1.7T | 5.3× | 296 | $31.2B | 16.4K |
| 5 | Boston | $1.2T | 4.7× | 185 | $13.6B | 6,194 |
| 6 | Los Angeles | $1.2T | 5.8× | 133 | $18.3B | 8,432 |
| 7 | Miami | $619B | 12.9× | 33 | $2.9B | 2,736 |
| 8 | San Diego | $399B | 6.2× | 52 | $3.3B | 2,230 |
| 9 | Washington DC | $317B | 4.2× | 45 | $3.5B | 2,318 |
| 10 | Chicago | $256B | 3.5× | 50 | $2.1B | 2,924 |
| 11 | Dallas | $195B | 3.9× | 31 | $1.5B | 1,866 |
| 12 | Philadelphia | $143B | 6.8× | 13 | $2.1B | 2,109 |
Sector concentration
Where Boston punches above its weight
Sectors in which Boston's share of the global unicorn pool is bigger than its overall share. A 5× over-index means Boston is 5× more represented in that sector than in the global average. Source: top-hub aggregation across the 18 simplified sectors.
Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Boston dataset — or see a sample on the Dealroom app.
Get the full Boston ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.