Market Clusters
How 190 startup markets group together based on funding behavior
K-Means clustering groups markets by their funding characteristics. The scatter plot uses PCA to compress multiple dimensions into two axes. PC1 (horizontal) captures funding volume: markets on the right raise more capital. PC2 (vertical) captures success rate and round depth. Together they explain 56.7% of the total variation.
Click a cluster in the legend or on any dot to explore it.
Select a cluster to explore
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Cluster Profiles
All clusters at a glance
Infrastructure & Deep Tech
44 markets
Markets like Analytics, Security and Semiconductors. Highest success rate (14.5%): companies here tend to get acquired because they build critical infrastructure that larger players need.
Avg Funding
$14.9M
Success Rate
14.5%
Avg Rounds
2.1
Example Markets
Consumer & Social
82 markets
The largest cluster: Social Media, Music, SaaS, Apps. Lower average funding and success rates. High competition, many entrants, winner-take-all dynamics.
Avg Funding
$7.4M
Success Rate
6.0%
Avg Rounds
1.8
Example Markets
Core Tech Heavyweights
11 markets
Fewer but massive markets: Software, Biotechnology, Mobile, E-Commerce. High funding, moderate success. These are the flagship VC categories.
Avg Funding
$16.6M
Success Rate
9.3%
Avg Rounds
1.9
Example Markets
Capital-Intensive Giants
10 markets
Technology, Online Shopping, Cloud Data Services. By far the highest average funding ($79M); these markets require massive capital to compete at scale.
Avg Funding
$78.9M
Success Rate
6.5%
Avg Rounds
2.1
Example Markets
Traditional Sectors
43 markets
Health & Wellness, Education, Finance, Manufacturing. Moderate funding but the lowest success rates and fewest rounds. Slower adoption of venture models.
Avg Funding
$15.0M
Success Rate
5.5%
Avg Rounds
1.5
Example Markets