Five states hold a third of US growth vendors — and California alone holds 308
Headquarters data across The Wall’s index maps the supply side of the US growth-services market: California, New York, Florida, Texas, and Illinois account for 35% of all listings.
Where headquarters data is available in The Wall's index, the geography of US growth vendors concentrates hard at the top. The five largest states account for 806 listings — 35.3% of the entire 2,286-listing index:
| State | Listings |
|---|---|
| California | 308 |
| New York | 150 |
| Florida | 124 |
| Texas | 120 |
| Illinois | 104 |
| Colorado | 71 |
| Massachusetts | 58 |
| Georgia | 56 |
| Pennsylvania | 46 |
| Washington | 37 |
| Ohio | 37 |
| Virginia | 36 |
| North Carolina | 30 |
| Arizona | 29 |
| New Jersey | 26 |
California's 308 listings — 13.5% of the index — make it the largest single market by a factor of two. But the more interesting entries sit mid-table. Florida's 124 places it third, ahead of Texas. Colorado, with 71, out-ranks Massachusetts, Georgia, and Pennsylvania — states with far larger business bases.
What geography does and doesn't mean
Nearly every firm in the index sells nationally; headquarters location is a supply-side fact, not a service-area constraint. What the clustering does tell a buyer is where talent pools, agency alumni networks, and specialization depth have compounded. It also means a buyer restricting a shortlist to local vendors in a bottom-half state is filtering out most of the market for no operational reason.
City-level concentration is covered in the companion briefing.
How this was computed. Figures are computed from The Wall's index of approved, US-based, machine-verified-live listings, using the index snapshot current when each briefing was published: 2,286 listings at launch (August 3, 2026) and 3,460 in the latest snapshot (captured August 9, 2026). Engagement data (rates, minimum project sizes, team sizes, founding years, ratings) are provider-declared figures published on public Clutch profiles; they were present for 1,738 of the 2,286 launch listings, and coverage counts for later snapshots are stated inside each briefing that uses them. Percentages of "disclosed" values exclude listings that publish no figure. Nothing in this briefing is estimated or modeled. Sourcing standards: editorial policy.