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New York City has topped San Francisco when it comes to startups raising VC cash — but it may not last

Abbie Parr / Stringer

  • The New York City metropolitan area was the most highly-funded region of the US in the third quarter of 2017 — pushing San Francisco out of its long-held spot.
  • Startups in NYC saw $4.227 billion in funding during the third quarter of 2017, up from $2.689 billion in the second quarter. 
  • Funding in San Francisco/North Bay Area was flat from last quarter, with $4.177 billion invested in local startups.


New York City has surpassed San Francisco as the region whose startups attract the most venture capital money, thanks in large part to a mega-round of funding scooped up by co-working company WeWork.

San Francisco/North Bay funding for the past eight quartersPwC and CB Insights MoneyTree Report Q3 2017

VCs invested $4.227 billion in NYC companies over the third quarter of 2017, compared to $4.177 billion in funding for companies in San Francisco and the North Bay Area. These numbers come from the recently released Q3 2017 MoneyTree Report from PwC and CB Insights. 

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