But when it comes to securing money for startups, the region that holds that moniker – the Northern California counties of Santa Clara and San Mateo – is actually taking in a smaller share of funding than it once did.
A Crunchbase News tally of reported funding rounds for startups in the core Silicon Valley counties of Santa Clara and San Mateo finds that companies there have pulled in more than $15.4 billion so far this year.
Silicon Valley’s declining share of funding comes as its neighbor to the North, San Francisco, continues to suck up ever-growing sums of capital.
As we reported earlier this month, San Francisco is devouring California’s venture funding to feed its vast stables of startups and money-losing unicorns.
Still, it’s important to recognize that while Silicon Valley is drawing a smaller share of California’s total venture funding, in dollar terms investment is actually rising.
In recent years, companies in San Mateo and Santa Clara counties have collectively hauled in roughly double the annual tallies raised at the beginning of the decade.
So far this year, Silicon Valley companies have scored at least 42 known “supergiant” funding rounds of $100 million or more.
Moreover, the surge in overall startup funding levels means Silicon Valley is still seeing as much investment as ever.