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State · North America

Wisconsin

State · United States · Pop. 6M · #50 region by EV

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

🦄 New unicorns by year
1
Annual $1B+ outcomes, unsmoothed
🐎 Cumulative thoroughbreds
4
Company revenue history, 2016-2025
Enterprise value
$35.1B
Actual EV series, 2015-2025

Largest rounds

Largest funding rounds in Wisconsin

A live treemap of $100M+ rounds from the Dealroom API. Each cell is one round into Wisconsin-headquartered companies, grouped by Dealroom sector.

Largest rounds in Wisconsin - 2026

Every $100M+ VC round into Wisconsin-headquartered companies in 2026, grouped by Dealroom sector.
- rounds · - raised
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Top sub-locations

Inside Wisconsin: top 4 metros

Metros inside Wisconsin ranked by combined enterprise value, paired with their 5-year growth multiplier.

By enterprise value
1 Chicago $256B
2 Madison $31.3B
3 Milwaukee $3.1B
4 Duluth $590M
By 5-yr EV growth
1 Chicago 3.5×
2 Madison 3.1×
3 Milwaukee 1.9×
4 Duluth

Startup funnel

Wisconsin'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
224
Seed
156
Series A
92
Series B
49
Series C
26
Unicorn
2
Decacorn
2

* 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.

VC investment

How much venture capital flows into Wisconsin

VC investment into Wisconsin-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage. Live from the Dealroom Next Gen API.

Notable companies

Top private companies in Wisconsin

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 2
ClariosExact Sciences
Unicorns $1B+ valuation 2
Fetch RewardsAccuLynx
Thoroughbreds+ $100M+ revenue 4
Exact SciencesFetch RewardsClariosRedox Engine

Academia

Wisconsin's academic flywheel

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

University-linked startup formation
40
University spinouts
912
Total alumni-founded companies
534
Of which startups (<$15M raised)
256
Breakouts ($15M-100M)
122
Scaleups ($100M+)

Location comparison

How Wisconsin stacks up

Compare Wisconsin with peers from the same country (United States) — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.

$119B
$114B
$96.9B
$83.8B
$72.7B
$63.8B
$63.7B
Wisconsin
$35.6B

Combined enterprise value of each ecosystem.

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 Wisconsin dataset — or see a sample on the Dealroom app.

Sector breakdown
Where Wisconsin's unicorns concentrate
Fintech
AI / Enterprise SW
Health Tech
Biotech
Cybersecurity
Consumer
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Capital autonomy
Wisconsin's domestic vs foreign capital mix
% domestic VC by stage
Cross-border lead investors
Sovereign-fund participation
Foreign-LP exposure
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Recent momentum
Wisconsin's VC investment trajectory by stage
2024 vs 2025 by stage
Round-size trends
Stage-conversion deltas
Quarterly velocity
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Founder origins
Where Wisconsin'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 Wisconsin
Core AI roles
Frontier AI roles
YoY hiring growth
Senior + lead engineers
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Deal flow
Live deal flow & funding rounds in Wisconsin
New rounds last 30 days
Stage breakdown
Active investors
Round-size trends
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Get the full Wisconsin ecosystem on Dealroom

Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.