Our goal is to provide an analytical, objective benchmark to help startup stakeholders from founders and VCs to community champions and elected officials understand how cities within the Midwest are performing relative to each other in their tech startup ecosystems – Click here to read the full article.

Madison ranked #9, while Milwaukee ranked #13. Click here to access the data chart on each city.

2020 – 2021 Highlights

  • Minneapolis’ Bright Health raised $500M in Oct’20 and IPO’d Jun’21 at a $10B market cap
  • Columbus’ Root Insurance IPO’d at a $6.7B market cap, and Olive raised $625M
  • Pittsburgh’s Duolingo IPO’d at $5B market cap
  • Chicago’s tastytrade was acquired for $1B, VillageMD raised $1B, Tempus raised $450M, and Tock was acquired for $400M
  • Detroit’s (and Irvine, CA) Rivian raised $7.65B, and StockX raised $275M
  • Kansas City’s BacklotCars acquired for $421M
  • Columbia, MO’s EquipmentShare raised $226M
  • Midwest VCs raised large funds including – S2G’s $500M, Rally $250M, Moderne $200M, GSV $180M, Lightbank $180M, Lewis & Clark $169M, and 7wire $150M