North Dakota
State · United States · Pop. 797K
Enterprise value
How much North Dakota’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in North Dakota, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
VC investment
How much venture capital flows into North Dakota
VC investment into North Dakota-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
Startup funnel
North Dakota's startup funnel
Companies headquartered in North Dakota at each stage today, by total VC raised. Hover a bar for the split.
Source: Dealroom.co
Quarterly report
North Dakota's latest quarter in venture capital
VC raised by North Dakota-headquartered companies in the quarter shown, against the quarter before and the same quarter a year earlier.
Latest complete quarter
Loading VC raised by North Dakota-headquartered companies…
Largest rounds
Largest funding rounds in North Dakota
A live treemap of the largest VC rounds. Each cell is one round into North Dakota-headquartered companies, grouped by Dealroom sector.
Largest rounds in North Dakota - 2026
Academia
North Dakota's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to North Dakota.
Location comparison
How North Dakota stacks up
Compare North Dakota 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 regions in United States ranked by combined EV. North Dakota's row is highlighted (#12).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | California | $21.6T | 7.7× | 1,138 | $179B | 37K |
| 2 | Western United States (Pacific, excl. Bay Area) | $4.5T | 4.8× | 328 | $29.9B | 16.6K |
| 3 | Northeastern United States | $3.3T | 4.5× | 650 | $53.1B | 31.3K |
| 4 | Washington (State) | $2.9T | 4.5× | 75 | $7.5B | 3,270 |
| 5 | Texas | $2.7T | 10.5× | 139 | $11.4B | 6,785 |
| 6 | Southeastern United States | $1.4T | 4.8× | 191 | $11.8B | 14.5K |
| 7 | New York State | $1.4T | 5.1× | 300 | $31.1B | 15.8K |
| 8 | Massachusetts | $1.1T | 4.4× | 209 | $12.9B | 6,135 |
| 9 | Florida | $798B | 9.8× | 67 | $4.1B | 4,904 |
| 10 | Midwestern United States | $668B | 3.7× | 124 | $9.5B | 10.8K |
| 11 | Western United States (Mountain) | $403B | 4.4× | 112 | $10.2B | 5,588 |
| 42 | North Dakota | $10.6B | 31.8× | 1 | $8.5M | 88 |
More data
Explore Dealroom data →Get the full North Dakota ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.