Ask someone to draw the map of software and they will draw San Francisco, maybe Austin, maybe London. The actual distribution of the 265,868 technology companies with $1M to $300M+ revenue looks very different, and the difference is where the untouched pipeline is.
The US: California is a fifth, not a half
California leads with 24,422 tech companies, but that is only 20.5% of the US total. Texas, New York and Florida together nearly match it. Below the mega-hubs, states like Illinois, Massachusetts and Colorado each hold four-figure tech universes that get a fraction of the outbound attention.
Source: Veltria dataset, 4,840,019 companies, computed 2026-07-09.
Europe: one big market, then a long tail
The UK's 24,968 tech companies make it Europe's undisputed hub: 17.0% of the continent's total. But the tail matters: the Netherlands and the Nordics punch far above their GDP weight in tech density, while Germany's tech count trails its overall economic size badly, the mirror image of its industrial strength.
Source: Veltria dataset, 4,840,019 companies, computed 2026-07-09.
Implications
- For SaaS sales: if your outbound is 50% Bay Area, you are fishing where every other vendor fishes, in a pond that holds ~20% of the fish.
- For investors: software outside the hubs trades at structurally lower multiples for the same metrics, geography is still an inefficiency.
The US Technology bundle ships every one of these companies with domain, revenue and headcount.
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