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Country region · North America

Western United States (Pacific, excl. Bay Area)

Country region · United States · Pop. 53.8M · #5 region by EV

A public taster of the full Western United States (Pacific, excl. Bay Area) ecosystem on Dealroom — request a demo for live deal flow, founder pedigrees, AI-talent maps, and the full cap table for every company below.

$4.8T+52%
Combined startup EV
$29.9B
VC invested (last 12mo)
16.3K
Tracked startups
#11/ 69
Unicorns per 1M people · regions rank
🦄 Unicorns
279
279 live · +23 new in 2025 (incl. 2 new decacorns)
💎 Decacorns
28
$10B+ tier
🐎 Thoroughbreds
219
Top 1% growth · $500M+

Adjacent regions by EV

#2North America #3California #4Asia #5Western United States (Pacific, excl. Bay Area) #6EMEA #7Europe #8Northeastern United States

Startup funnel

Western United States (Pacific, excl. Bay Area)'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.

Pre-Seed
3,194
Seed
2,861
Series A
2,755
Series B
1,545
Series C
905
Unicorn
252
Decacorn
24

* 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 Western United States (Pacific, excl. Bay Area)

Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.

Decacorns $10B+ valuation 24
TetherSeagenVeeamRocket LabCoupangShield AIWhatnotRivian AutomotiveGoodLeapCloudKitchensSnapHuluKite PharmaTableauBiosplice TherapeuticsDexcomF5AndurilIlluminaSnowflake
Unicorns $1B+ valuation 252
VuoriSurf Air MobilityAvettaCidara TherapeuticsCloudMindsKestra Medical TechnologiesProfoundBioTruvetaiSoftStoneKajabiSpreeAIMerkle ManufactoryTebraREVOLVERec RoomErascaCTI Biopharma (Formerly Cell Therapeutics)Create Music GroupNavitas SemiconductorBuildOps+232 more
Thoroughbreds+ $100M+ revenue 196
AmazonCoupangSpaceX | xAIArkeia SoftwareAgilon HealthSnapRivian AutomotiveDexcomIlluminaValveAlignment HealthcareSnowflakeF5The Trade DeskTTM TechnologiesZillowNutanixAndurilRemitlyEnphase Energy

Ecosystem signals

Beyond the headline — Western United States (Pacific, excl. Bay Area)'s underlying signals

Dealroom's deeper indicators of ecosystem health: where the capital comes from, how universities feed it, and the most recent year-on-year movement.

Capital autonomy
Share of Western United States (Pacific, excl. Bay Area)'s VC dollars sourced from domestic investors, by funding stage. Lower bars at scaleup mean more reliance on foreign capital for the biggest rounds.
Domestic capital
Startup
77%
23% foreign
Breakout
78%
22% foreign
Scaleup
82%
18% foreign
Academia
Companies founded by university alumni or spun out of research, captured across all tracked startups in Western United States (Pacific, excl. Bay Area).
University-linked startup formation
415
University spinouts
7,670
Total alumni-founded companies
4,478
Of which startups (<$15M raised)
2,304
Breakouts ($15M-100M)
888
Scaleups ($100M+)
Recent momentum
2024 vs 2025 VC investment by stage in Western United States (Pacific, excl. Bay Area). 2025 figures are year-to-date.
2024 2025
Early ($0-15M)
$2.3B
$1.9B
↓ 18%
Breakout ($15-100M)
$6.9B
$6.8B
flat
Scaleup ($100M+)
$14.7B
$20.4B
↑ 39%

Vs. similarly-sized ecosystems

How Western United States (Pacific, excl. Bay Area) stacks up

Peers chosen from the same country (United States), sized closest to Western United States (Pacific, excl. Bay Area) by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.

Combined enterprise value
$21.7T
Western United States (Pacific, excl. Bay Area)
$4.8T
$2.3T
$729B
EV growth (5-yr ×) vs current EV
peer median 4.4× 1.6× 16.1× 30.6× $5.2B $337B $21.7T EV growth (5yr ×) Combined enterprise value (log) California Northeastern United States Washington (State) Texas New York State Southeastern United States Massachusetts Florida Midwestern United States Western United States (Mountain) Illinois Pennsylvania New Jersey Colorado Western United States (Pacific, excl. Bay Area)

Top overview

United States — top regions

Top regions in United States ranked by combined EV. Western United States (Pacific, excl. Bay Area)'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
12 Illinois $264B 3.4× 51 $2.2B 3,354

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 Western United States (Pacific, excl. Bay Area) dataset — or see a sample on the Dealroom app.

Sector breakdown
Where Western United States (Pacific, excl. Bay Area)'s unicorns concentrate
Fintech
AI / Enterprise SW
Health Tech
Biotech
Cybersecurity
Consumer
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Founder origins
Where Western United States (Pacific, excl. Bay Area)'s startup founders come from
By country of origin
Per capita
Top universities
Top alumni-factory companies
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AI talent
Top employers of AI talent in Western United States (Pacific, excl. Bay Area)
Core AI roles
Frontier AI roles
YoY hiring growth
Senior + lead engineers
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Deal flow
Live deal flow & funding rounds in Western United States (Pacific, excl. Bay Area)
New rounds last 30 days
Stage breakdown
Active investors
Round-size trends
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