Pennsylvania
State · United States · Pop. 13.1M · #24 region 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.
Largest rounds
Largest funding rounds in Pennsylvania
A live treemap of the largest VC rounds. Each cell is one round into Pennsylvania-headquartered companies, grouped by Dealroom sector.
Largest rounds in Pennsylvania - 2026
VC investment
How much venture capital flows into Pennsylvania
VC investment into Pennsylvania-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
Academia
Pennsylvania's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Pennsylvania.
| # | University | City | Unicorns | Companies |
|---|---|---|---|---|
| 1 | 🇺🇸University of Pennsylvania | Philadelphia, PA | 165 | 3,653 |
| 2 | 🇺🇸Carnegie Mellon University | Pittsburgh, PA | 88 | 2,845 |
Location comparison
How Pennsylvania stacks up
Compare Pennsylvania 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. Pennsylvania'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 |
| 14 | Pennsylvania | $242B | 4.7× | 36 | $2.8B | 2,513 |
More data
Explore Dealroom data →Get the full Pennsylvania ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.