As investors continue to pour money into AI startups in the U.S., Seattle ranks fourth in the nation in AI funding, according to new data from financial tech company Carta.
In a ranking of 10 metro areas, across seven sectors that also includes SaaS, hardware, biotech, health tech, fintech and consumer, Seattle’s startup ecosystem accounts for 5.1% of AI-related funding.
The number is a small piece of the AI startup pie that’s mostly consumed by California’s Bay Area, which gobbles up 51% of funding. New York (11%) and Boston (5.5%) are also ahead of Seattle.
Seattle ranks sixth overall with 3.9% or $3.46 billion of the $104 billion invested into U.S. startups on Carta between the third quarter of 2024 and the second quarter of this year.
In the categories aside from AI, Seattle is No. 3 in SaaS (5%), No. 7 in hardware (2%), No. 5 in biotech (3.8%), No. 9 in health tech (3.1%), and not in the top 10 in fintech or consumer.
Seattle is trying to keep up in the race to lure and/or retain AI companies and investor dollars. Despite the hype around the region as a major AI hub, there are no Seattle-area companies listed among the top 100 AI startup funding deals so far this year, according to PitchBook.
But given the density of Seattle-area engineering talent that’s crucial to building companies in the burgeoning era of artificial intelligence, entrepreneurs, investors, and startup leaders remain optimistic that the city’s best AI days are ahead.
The new ranking data comes from Carta’s platform, which is used by startups to manage their cap tables.
San Francisco-based Carta, which employs about 135 people in the Seattle region, recently moved into new office space in the Columbia Center downtown, occupying 23,500 square feet.
Related:
- Seattle is a global AI hub — but where are the superstar startups?
- Can Seattle own the AI era? We asked 20 investors and founders to weigh the city’s startup potential
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