WP Engine is the most-well funded technology startup in Texas, according to new research released by CB Insights. This is the second consecutive year the company has earned this accolade.
In the infographic above, CB Insights identifies the most highly-funded companies across all 50 states and highlights the diffusion of the tech boom from traditional hubs like New York and California to emerging tech-centric regions in many other parts of the country.
In Texas, much of the growing tech scene and related VC investment is found in Austin, where more than 60 percent of Texas’ $2.12 billion in total investments in 2018 occurred.
WP Engine led the list of Austin’s top VC investments in 2018 with a $250 million investment from Silver Lake, the global leader in technology investing. At the beginning of 2019, WP Engine announced that it had surpassed $132 million in revenue and 90,000 customers.
That certainly led to the company’s inclusion on the CB Insights list, which was based on disclosed equity funding and excluded funding from debt, loans, and lines of credit. The list only considered tech companies that have raised at least $1 million of equity funding since January 2014.
At least part of the reason Austin leads in startup funding in Texas is due to its inclusive culture and excellent quality of life, making it an attractive destination for skilled job seekers.
In fact, another recent report ranks Austin number 2 in the nation for the highest percentage of women-owned startups. The study, which was released by Seek Business Capital, found that 32.7 percent of startups in Austin—1,433 startups—are owned by women, trailing only the St. Louis Missouri-Illinois metro area, which has 2,726 female-owned startups.
WP Engine CEO Heather Brunner recently spoke about Austin’s inclusive spirit during a panel discussion at the South by Southwest festival in March.
“Companies that are going to thrive here are those that help others and give back to the community,” Heather said, noting that larger tech companies building out their presence in Austin would have to face this challenge head-on.
“Businesses will have to work hard on who they are and why they exist,” she said. “While technology will change, and the companies bringing jobs here will change, what doesn’t change is community and values.”
Those companies—and the highly skilled employees they hope to recruit—aren’t showing any signs of letting up when it comes to choosing Austin as their preferred destination. For the third year in a row, Austin took home the top honors for U.S. News and World Report ranking of 2019’s Best Places to Live. That ranking was based on affordability, job prospects, and quality of life.
As Austin continues to lead the state in innovation and inclusion, WP Engine is proud to be a representative of the city’s startup ecosystem and a driver of its continued growth.