California companies have scooped up more than three-fourths of all U.S. startup funding this year. That, per Crunchbase data, is an apparent record share.
But that’s not all. As investment hit unprecedented levels in 2026, Golden State companies alone raised more than all U.S. startups in any prior year on record. Most of that stems from a handful of megarounds for San Francisco-based AI pioneers.
And keep in mind: This year still has a couple months left. Yet California companies have already pulled in an unparalleled $385 billion in seed- through growth-stage rounds. That’s more than double last year’s tally.
California’s share of U.S. startup funding also has been trending higher for the past three years. Much of this is due to San Francisco AI unicorns, but we’re also seeing strength in the broader Silicon Valley region as well as Southern California.
Where the money went
Flabbergasting financings for San Francisco-based OpenAI and Anthropic account for more than half of this year’s California statewide tally. But even without those, California companies 1 still secured a disproportionate share of the largest U.S. equity funding rounds.
To illustrate, we used Crunchbase data to put together a list of the 10 next-largest California funding rounds this year.
Some of these are familiar names and involve fairly mature companies. For instance Waymo, which launched inside Google in 2009 and spun out as an independent company 10 years ago, picked up $16 billion in February.
Another old-timer is Databricks, which picked up $5 billion in August. It’s now 13 years old and has raised over $30 billion in debt and equity funding to date.
Still, we’re also seeing younger companies secure megarounds. Prometheus, the physical AI startup co-founded and led by Jeff Bezos and launched last year, pulled in $12 billion in new funding this spring. And AI model startup Safe Superintelligence landed $5 billion in a Nvidia-led round this summer.
Early-stage funding
That brings us to our next point. California’s startup funding windfall isn’t only about late-stage and pre-IPO companies bagging enormous rounds. Early- and seed-stage companies are also attracting big checks from investors.
Per Crunchbase data, California companies have secured nearly $62 billion in seed- and early-stage financings so far in 2026. That’s roughly 57% of all U.S. funding at these stages.
It’s also far above prior year tallies, as charted below, and appears to be a record funding level.
Don’t bet against California
If there’s a lesson to be learned in these numbers, it’s one that savvy startup investors ought to have learned a long time ago: Don’t bet against California.
Whatever the year, whatever the technology cycle, California, and Silicon Valley in particular, have a knack for being home to the leading companies of the era.
Related Crunchbase queries:
Illustration: Dom Guzman
xAI, the generative AI startup known for its Grok chatbot and the parent company of X (formerly Twitter), raised $20 billion as a California-headquartered company earlier this year. Today, however, it is part of SpaceX, which is headquartered in Texas.↩