Tech Funding Statistics – 42 Key Figures

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 42 marketing     February 22, 2024

In today’s rapidly evolving technological landscape, understanding the dynamics of tech funding is crucial. The world of technology is not just about groundbreaking inventions and innovations; it’s equally about the financial fuel that powers these advancements. 

Rotterdam, renowned as a major port city and economic hub in the Netherlands, has emerged as a thriving center for tech funding. The city’s startup ecosystem has attracted significant investments, with local venture capital firms and angel investors actively supporting innovative tech companies. Rotterdam’s focus on sustainable technologies, logistics, and maritime solutions has aligned with the funding priorities, fostering an environment conducive to entrepreneurship and technological advancement.

We explore various facets of tech funding, including venture capital investments, private equity trends, governmental spending in AI, and the burgeoning fields of fintech and agri-tech. These figures not only reflect the monetary aspects but also underscore the strategic priorities of businesses and governments alike.

1) Deloitte Highlights a $2 Trillion Private Funding Gap in Climate Technologies

A recent insight from Deloitte reveals a substantial private funding gap in climate technologies. An estimated $2 trillion is required to achieve the global temperature limitation goals by 2030, emphasizing the need for increased investment in next-generation climate technologies​​.

2) Deloitte Reports Record Global Revenue of $64.9 Billion in FY2023

Deloitte’s global presence has been significantly reinforced with a record-breaking FY2023 revenue of $64.9 billion, marking a 14.9% increase in local currency​​. This growth is a testament to Deloitte’s expanding influence and its effective funding strategies in technology sectors worldwide.

3) Deloitte’s U.S. Revenues Reach $32.7 Billion in Fiscal Year 2023

Deloitte LLP and its subsidiaries have shown significant financial strength, recording $32.7 billion in U.S. revenues for the fiscal year ending June 3, 2023​​. This indicates a robust investment in technology and innovation, reflecting the company’s commitment to staying at the forefront of industry trends.

4) Venture Capital and Private Equity Back 85% of Deloitte’s 2023 Technology Fast 500 Companies

The 2023 Technology Fast 500, a list released by Deloitte, shows that 85% of the companies were supported by venture capital or private equity funding at some point in their history​​​​. This statistic underscores the vital role of external funding in driving technological innovation and growth.

5) PwC’s Climate Tech Investment Increases to 11.4% in Q3 2023

PwC’s 2023 report highlights an increase in climate tech’s share of private market equity and grants investment to 11.4% in Q3 2023, maintaining a decade-long upward trajectory​​. This growth reflects the increasing importance of climate technology in the investment strategies of companies like PwC.

6) McKinsey Points to a Resurgence of Enthusiasm in Technology Investment in 2023

After a challenging 2022, McKinsey observes a resurgence in enthusiasm for technology investment in the first half of 2023. This revival, credited largely to advancements like generative AI, indicates a strong belief in technology’s role in driving business and societal progress​​.

7) Boston Consulting Group Reports $11.7 Billion in Global Sales for 2022

In a challenging economic landscape, Boston Consulting Group (BCG) achieved a remarkable feat, reporting global sales of $11.7 billion for year-end 2022.
With a revenue growth of 11% at constant exchange rates, BCG continues its upward trajectory. This achievement is not just a number; it reflects BCG’s resilience and strategic foresight in a time when many firms face uncertainty.
BCG’s sustained growth, tripling revenues over the past decade, underlines its commitment to innovative solutions and client-centric approaches​​.

8) BCG Invests Over $1 Billion in Social Impact

While financial success is crucial, BCG’s commitment to societal and planetary impact is equally commendable. Over the current decade, BCG has invested over $1 billion in more than 1,500 social impact cases. 

9) KPMG Survey Reveals Positive Impact of Digital Transformation on Technology Companies

A recent survey by KPMG sheds light on the transformative power of digital technology. The survey, involving 400 US-based executive-level technology leaders, reveals that technology companies are more likely than others to witness a positive impact on profitability and performance from digital transformation. 

10) KPMG’s 2023 Technology Survey Demonstrates Strong Focus on Digital Acceleration

Despite the challenges of an uncertain business landscape, KPMG’s 2023 US technology survey illustrates how American enterprises remain committed to their digital transformation journeys.
The survey shows a clear focus on digital acceleration, enabling businesses to leverage technology’s potential amidst economic and geopolitical turbulence​​.

11) EY Announces Record Global Revenues of Nearly $50 Billion in FY23

EY’s financial performance in FY23 is a testament to its robust growth strategy. The firm announced a staggering $49.4 billion in global revenues, marking a 14.2% increase in local currency. This financial success reflects EY’s strong market presence and its ability to adapt and thrive in a dynamic business environment​​.

12) EY’s Significant Investment in AI and Training

EY’s commitment to innovation and skill development is evident in its substantial investments. The firm invested $3.6 billion in technology and people, including a $1.4 billion initiative for, an AI platform.
Additionally, EY’s record investment of $385 million in training, resulting in 24 million training hours, underscores its dedication to employee development and technological advancement​​​​.

13) Forrester Research Forecasts Global Tech Spend to Reach $4.4 Trillion in 2023

Forrester’s Global Tech Market Forecast predicts a significant growth in global tech spend, reaching $4.4 trillion in 2023. This 4.7% growth despite global challenges showcases the unstoppable momentum of technological advancement.
It’s a clear indicator that the tech industry remains a vibrant and crucial part of the global economy. Additionally, by 2027, tech software and IT services are projected to capture 66% of this spend, a substantial increase from pre-pandemic levels. 

14) Tech Executives Can Spur Growth Despite Economic Challenges, Says Forrester

Forrester suggests that tech executives can play a pivotal role in spurring organizational growth in 2023 by focusing on operational efficiency and strategic investments in areas like R&D and cybersecurity.
This recommendation comes at a time when different regions are showing varied tech spend growths, with the Middle East and Africa leading at 5.6%, and Europe lagging at 3.6% due to economic challenges. 

15) Gartner Projects a 4.3% Increase in Worldwide IT Spending in 2023

Gartner’s latest forecast reveals that worldwide IT spending is projected to total $4.7 trillion in 2023, marking a 4.3% increase from 2022. This growth, occurring in an environment not yet significantly impacted by generative AI, indicates a robust and steady expansion of the IT sector. 

16) Gartner Highlights the Dichotomy in IT Spending Amidst Economic Turbulence

As enterprises navigate ongoing economic turbulence, Gartner points out a clear split in technology investments – those that maintain versus those driving business growth. 

17) World Bank Emphasizes the Critical Role of Digitalization in Global Development

The World Bank underscores the transformative potential of digitalization, stating its increasing importance in addressing global challenges and creating opportunities. However, the digital divide remains a significant barrier. With about one-third of the global population, or 2.6 billion people, still offline in 2023, the divide is impeding growth and limiting opportunities worldwide. 

18) World Bank Estimates Over $400 Billion Needed for Universal Broadband Access by 2030

The World Bank highlights the financial challenges in achieving universal broadband access. An estimated $400 billion is required by 2030, a goal that cannot be met by the public or private sector alone. 

19) CB Insights Reveals How Global Fintech Funding Deals Fell

In 2022, global fintech funding reached $75.2B, marking a significant 46% drop from 2021, but still showing a 52% increase compared to 2020. The year witnessed a severe funding slowdown, particularly in the second half, with Q4’22 funding at just $10.7B — the lowest quarterly level since 2018. Despite the downturn, the total deals in 2022 fell by only 8% year-over-year, reaching 5,048​​.

20) Changing dynamics of budget allocation in IT companies

Gartner reports that 73% of the average supply chain IT budget will be allocated to growth and performance, reflecting the increasing importance of supply chain management and investment in new technology​​.

21) AI’s Rapid Annual Growth Rate

The AI sector is anticipated to grow at an annual rate of 37.3% from 2023 to 2030, underscoring its revolutionary impact across various industries​​.

22) Harvard Business School Predicts Entrepreneurs Will Face More Challenges 

HBS faculty predict that 2023 will see more constraints for entrepreneurs, necessitating more scrupulous strategies and longer funding rounds. There’s also an expectation of a shift in how organizations incentivize employees, moving away from traditional pay-for-performance models towards more relational connections​​.

23) Nielsen’s 2023 Annual Marketing Report Reveals Key Trends in Advertising Budgets

In the uncertain economic landscape of 2023, Nielsen’s Annual Marketing Report disclosed that 69% of marketers acknowledged the impact of economic conditions on their planning strategies. Despite this, a significant 64% of them anticipate an increase in their advertising budgets, with 13% expecting a surge of over 50%. This growth is primarily attributed to the rise of CTV and streaming platforms​​.

24) Streaming Platforms Gain Prominence in Marketing Strategies

Nielsen’s 2023 report also highlighted a shift in marketing approaches, with a striking 84% of marketers incorporating streaming platforms into their media plans. This shift, however, comes with challenges, as only 49% of respondents consider OTT and CTV as effective advertising channels, reflecting a gap in efficacy perception​​.

25) Sustainability Becomes a Key Focus for Consumers

The NielsenIQ survey data of 2023 indicated a significant consumer trend towards sustainability, with 46% of consumers expecting brands to lead in creating sustainable change. This shift is not just consumer-driven; legislation and governance are also becoming major drivers of sustainable actions within corporations​​.

26) Oxford Economics Adjusts 2023 GDP Growth Forecast

In light of stronger-than-expected Q2 outcomes, Oxford Economics revised its 2023 GDP growth forecast slightly upward to 2.5%. Despite this adjustment, the forecast suggests a period of lackluster growth for the remainder of the year and most of 2024​​.

27) Oxford Economics Achieves Top Rankings in Forecast Accuracy

Demonstrating its analytical prowess, Oxford Economics earned the top position in FocusEconomics’ Analyst Forecast Awards in 2023. The company achieved 66 first-place rankings across various macroeconomic indicators for 100 countries and 19 commodity prices in 2021, underscoring its forecasting accuracy and expertise​​.

28) Inflation Predictions for Late 2023 by Oxford Economics

Oxford Economics projects that both headline and core CPI inflation will average around 3.5% and 4.5% respectively in Q4 2023. Their forecast is slightly higher than the consensus, mainly due to persistent services inflation, which is not expected to diminish rapidly over the next 18 months​​.

29) U.S. Retail Sales Exceed Expectations in September 2023

According to Reuters, U.S. retail sales in September 2023 surpassed forecasts, registering a 0.7% rise. This growth rate exceeded the 0.3% increase anticipated by economists. Notably, these figures represent an upward revision from previous months, indicating a more robust retail sector than initially thought​​​​.

30) E-commerce and Dining Out Reflect Consumer Confidence

Data from Reuters also showed notable increases in specific retail sectors in September 2023. Auto dealership sales grew by 1.0%, while online sales jumped 1.1%, potentially buoyed by promotional events like Amazon’s Prime Day. Additionally, sales in food services and drinking places saw a significant 0.9% increase, suggesting strong consumer confidence in household finances

31) Global Unicorn Startups Surpass 1,200

In June 2023, the number of billion-dollar ‘Unicorn’ startups reached 1,215 worldwide. This figure represents a significant increase, nearly doubling since 2021, indicating a robust growth in high-value startups globally​​.

32) Recession as a Catalyst for Tech Startup Founding

Over 50 tech startups, now valued at nearly $150 billion collectively, were founded during the 2008 recession. This suggests that economic downturns often inspire innovative entrepreneurial ventures​​.

33) Agtech & New Food Industry Sees a Surge in Funding

The Agtech & New Food sector experienced the largest funding increase among all startup industries, with a 128% rise between 2021 and 2022. Despite this, these startups make up only 2% of the global startup landscape​​.

34) High Failure Rate in the First Year for Startups

Statistics show that 1 in 5 startups fail within their first year, mainly due to financial struggles, competition, or poor product-market fit. This indicates the high-risk nature of startup ventures​​.

35) The United States: A Leading Nation for Startups

The United States is rated as the most startup-friendly country, with a Startup Ecosystem Score significantly higher than other leading nations like the United Kingdom and Israel​​.

36) U.S. High-Tech Software and Services Employment Growth in 2022

The growth in U.S. high-tech software and services employment slowed to 2.1% in the first half of 2022, down from 4.5% in the second half of 2021. Job cut announcements in 2022, while low by historical standards, were rising, particularly in the tech industry​​.

37) Record Venture Capital Funding in 2022

A record annual total of $276 billion in venture capital funding across 9,700 deals was observed in 2022. This amount was more than double 2020’s total of $132 billion. Mega-deals sized $100 million or more accounted for 59% of the total volume in 2021​​.

38) Financing of In-Store Retail Technology Deals in 2021

The financing of technology deals in all retail areas amounted to $109 billion globally in 2021, indicating significant investment in the sector​​.

39) Funding for Agriculture Technology Startups in 2021

Agriculture technology startup companies received funding of about $53.2 billion in 2022, a substantial increase from approximately $27.7 billion in the previous year​​.

40) Pentagon’s AI-Related Spending in FY 2022

The Pentagon’s fiscal 2022 budget request included 346 budget activities related to AI, valued collectively at $3.2 billion, underscoring the U.S. government’s investment in AI technologies​​.

41) U.S. Federal AI Spending Projections for 2021

The U.S. government is projected to invest more than $6 billion in AI-related research-and-development projects in 2023, with contract obligations expected to grow nearly 50% relative to 2020​​.

42) AI Funding Through August of a Recent Year

AI-focused companies brought in about $24 billion in funding through August of a recent year, according to PitchBook data. This demonstrates the significant investment interest in AI technologies despite strong competition in the sector​​.


As we conclude our exploration of “Tech Funding Statistics – 42 Key Figures,” it’s evident that the technology sector remains a dynamic and vibrant arena of growth and innovation, backed by substantial financial investments.

From the record-breaking venture capital funding in 2023 to the significant investments in AI and sustainability, these statistics paint a picture of a sector that is not only thriving but also adapting to new challenges and opportunities.

The resilience and adaptability of tech companies, as seen in their funding patterns and strategic investments, reflect a sector that is constantly evolving and shaping our world in profound ways.

This compilation of statistics also highlights the critical role of funding in driving technological advancements and the importance of strategic investments in areas like AI, climate technology, and digital transformation.