North Carolina
State · United States · Pop. 11M · #29 region by EV
Enterprise value · 2015–2025
North Carolina grew 4.5× since 2015
Combined enterprise value of every tracked startup headquartered in North Carolina that's still operating today — public and private companies combined, totalled by founding-year cohort.
Adjacent regions by EV
Top sub-locations
Inside North Carolina: top 3 metros
Metros inside North Carolina ranked by combined enterprise value, paired with their 5-year growth multiplier.
Startup funnel
North Carolina'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 North Carolina
Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.
Academia
North Carolina's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to North Carolina.
Vs. similarly-sized ecosystems
How North Carolina stacks up
Peers chosen from the same country (United States), sized closest to North Carolina by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.
Top overview
United States — top regions
Top regions in United States ranked by combined EV. North Carolina's row is highlighted.
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | California | $21.7T | 7.7× | 976 | $180B | 36.4K |
| 2 | Western United States (Pacific, excl. Bay Area) | $4.8T | 8.1× | 279 | $29.9B | 16.3K |
| 3 | Northeastern United States | $3.5T | 4.9× | 571 | $52.8B | 30.2K |
| 4 | Washington (State) | $3.1T | 10.6× | 72 | $7.3B | 3,203 |
| 5 | Texas | $2.3T | 10.0× | 107 | $11.2B | 6,215 |
| 6 | New York State | $1.5T | 5.4× | 270 | $29.9B | 15.3K |
| 7 | Southeastern United States | $1.3T | 5.3× | 145 | $11.4B | 13.6K |
| 8 | Massachusetts | $1.2T | 4.5× | 184 | $13.5B | 5,968 |
| 9 | Florida | $729B | 9.7× | 49 | $3.9B | 4,511 |
| 10 | Midwestern United States | $654B | 3.6× | 104 | $9.2B | 10.8K |
| 11 | Western United States (Mountain) | $346B | 4.0× | 86 | $9.1B | 5,151 |
| 16 | North Carolina | $177B | 3.0× | 29 | $2.6B | 1,827 |
Premium analytics
What we don't show on this page (yet)
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