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Arizona

State · United States · Pop. 7.6M · #32 region by EV

A public taster of the full Arizona ecosystem on Dealroom — request a demo for live deal flow, founder pedigrees, AI-talent maps, and the full cap table for every company below.

940 Pool of Funded Startups

New Startups

308 Annual Startups FoundedAll new ventures

89 Annual Startups FundedReceived investment

get funded 29%

762Startups

308 Pre-Seed Startups$100K–1M

263 Seed Startups$1–4M

Pre-Seed to Seed 35%

191 Series A Startups$4–15M

Seed to Series A 29%

144Breakouts

84 Series B Breakouts$15–40M

A to Series B 33%

60 Series C Breakouts$40–100M

B to Series C 31%

34Scaleups

26 Mega Scaleups$100–250M

reach Mega 2.8%

8 Mega+ Scaleups$250M+

reach Mega+ 0.85%

16Valuation Outcomes

13 Unicorns($1–10B valuation)

reach Unicorn 1.4%

3 Decacorns($10–100B valuation)

reach Decacorn 0.32%

Pre-Seed

308

Seed

263

Series A

191

Series B

Series C

Unicorn

Decacorn

* 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.

Largest rounds

Largest funding rounds in Arizona

A live treemap of the largest VC rounds. Each cell is one round into Arizona-headquartered companies, grouped by Dealroom sector.

Largest rounds in Arizona - 2026

Every $15M+ VC round into Arizona-headquartered companies in 2026, grouped by Dealroom sector.

- rounds · - raised

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VC investment

How much venture capital flows into Arizona

VC investment into Arizona-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.

Academia

Arizona's academic flywheel

Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Arizona.

University-linked startup formation

University spinouts

878

Total alumni-founded companies

546

Of which startups (<$15M raised)

252

Breakouts ($15M-100M)

Scaleups ($100M+)

Location comparison

How Arizona stacks up

Compare Arizona 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.

Western United States (Mountain)

$367B

$272B

$254B

$242B

$202B

$177B

$159B

$144B

Arizona

$138B

Combined enterprise value of each ecosystem.

Top regions in United States ranked by combined EV. Arizona's row is highlighted (#12).

#	Ecosystem	Combined EV	EV growth	Unicorns	VC invested	Tracked startups
1	California	$21.5T	7.7×	1,101	$177B	36.6K
2	Western United States (Pacific, excl. Bay Area)	$4.6T	4.8×	317	$28.2B	16.4K
3	Northeastern United States	$3.4T	4.6×	652	$54.3B	30.9K
4	Washington (State)	$3T	4.5×	72	$7.3B	3,242
5	Texas	$2.7T	10.5×	128	$11.2B	6,610
6	New York State	$1.4T	5.0×	298	$30.9B	15.5K
7	Southeastern United States	$1.4T	4.8×	172	$11.5B	14.1K
8	Massachusetts	$1.2T	4.4×	210	$13.2B	6,078
9	Florida	$781B	9.6×	61	$3.7B	4,750
10	Midwestern United States	$666B	3.6×	114	$9.4B	10.7K
11	Western United States (Mountain)	$367B	4.1×	98	$9.8B	5,447
19	Arizona	$138B	5.1×	16	$529.5M	1,282

More data

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Country United States Country · North America · Pop. 340.1M · #1 country by EV Region North America Continent / region · Pop. 60M · #2 region by EV

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