North Carolina has quietly established itself as a major tech hub, home to pioneering companies that have shaped the global tech landscape alongside up-and-coming firms blazing new trails. From video game developers and open source software makers to semiconductor manufacturers and data analytics providers, North Carolina fosters an environment where innovation thrives.
In this comprehensive guide, we will explore the past, present and future of technology companies large and small that call North Carolina home. You will learn about:
- The industry visionaries and household names founded right here in North Carolina
- Influential global tech giants with deep roots across the state
- Emerging private tech firms driving the future of sectors like AI, fintech, and more
- Publicly traded North Carolina tech stocks delivering value to shareholders
- Notable companies from the state‘s past that laid the groundwork for future success
Let‘s dive in and better understand the pioneers, giants and rising stars leading North Carolina‘s booming technology industry into the future.
1. Tech Visionaries Founded and Headquartered in North Carolina
When you think of technology visionaries, Silicon Valley and other innovation hubs like New York and Boston probably come to mind first. However, North Carolina has birthed its fair share of trailblazing companies that have gone on to global success. These homegrown tech pioneers include:
Epic Games
Few gaming companies have made a bigger impact than Epic Games. Based in Cary, NC, Epic develops leading video game engines and groundbreaking titles like Fortnite and Gears of War. Valued at over $31 billion, Epic Games has led the way in developing bleeding-edge interactive 3D content and remains North Carolina‘s only gaming unicorn.
Beyond gaming, Epic also builds tools that empower creators in industries like film, television, architecture and automotive to bring their visions to life. Their Unreal Engine, for instance, has been used in prominent productions like The Mandalorian. From Triple-A blockbuster games to supporting the next generation of creators across sectors, Epic Games remains a pioneer.
Red Hat
Red Hat has become synonymous with open source software and enterprise IT infrastructure, providing innovative solutions relied upon by 90% of Fortune 500 companies. Founded in Raleigh in 1993, Red Hat delivers tools like Linux OS platforms, virtualization, cloud computing and automation that enable businesses and organizations to innovate faster and scale efficiently.
In 2019, software titan IBM acquired Red Hat in a $34 billion deal, bringing together two leading enterprise IT providers. However, Red Hat continues to keep its headquarters firmly planted in Raleigh. With an enduring commitment to open collaboration and transparency, Red Hat has become a pillar of North Carolina‘s tech landscape.
Bandwidth
Founded in Raleigh in 1999 and headquartered nearby in neighboring Wake Forest, Bandwidth has ridden the VoIP revolution to become one of the largest and fastest-growing communications platforms in the US.
Serving over 100,000 businesses with cloud-based voice, messaging, emergency communications and 911, Bandwidth enables organizations to embed seamless communications solutions directly into software and apps. With over 700 employees and a mission to advance voice technology usage through embedding, Bandwidth helps power the future of how we connect.
2. Tech Giants Choose North Carolina for Major Hubs
In addition to homegrown innovators, many of the world‘s largest technology companies have set up major hubs across North Carolina, attracted by top talent pipelines from leading research universities and an overall lower cost of living compared to traditional tech hubs.
IQVIA – $14 Billion Revenue
Headquartered in Danbury, Connecticut, IQVIA operates one of its largest employee hubs at Research Triangle Park in Durham, NC. IQVIA provides insights and solutions that harness data, technology, and innovative analytics to drive the development of new healthcare approaches.
Generating over $14 billion in annual revenues, IQVIA relies on its North Carolina team to advance tech-enabled clinical research and usher in data-driven innovations in the life sciences. With expertise spanning research, development, regulatory approval and commercialization, IQVIA‘s North Carolina tech hub plays an instrumental role in transforming patient outcomes.
Qorvo – $4.65 Billion Revenue
From enabling high-performance wireless communications to supporting advanced driver assistance systems (ADAS) in vehicles, the components designed and built by North Carolina‘s Qorvo enable a smarter, more connected world.
With over $4.5 billion in annual revenues driven largely by their substantial presence in Greensboro, North Carolina, Qorvo produces RF solutions and semiconductors that feature in smartphones, public safety systems, healthcare devices, and more. As a key player in North Carolina‘s "Silicon Valley of the East," Qorvo delivers innovative products powering next-gen applications spanning 5G, IoT and electric vehicles.
SAS Institute – $3.15 Billion Revenue
Boasting $3.15 billion in annual revenue in 2021, SAS Institute has become the world‘s largest privately-held software firm. From machine learning and predictive data analytics to AI and business intelligence, SAS provides leading solutions used at over 90,000 sites worldwide.
Maintaining global reach from its birthplace and still headquarters of Cary, NC, SAS represents another pillar of North Carolina‘s technology landscape. It‘s deep bench of data scientists and thought leaders that call Cary home provide the foundation for the pioneering analytical tools relied upon by forward-thinking organizations everywhere.
3. Emerging Private Firms Driving North Carolina‘s Tech Growth
While industry stalwarts certainly put North Carolina‘s thriving technology ecosystem on the map, an array of emerging private companies now power its continued growth across subsectors like fintech, 3D printing, healthtech and more.
Automated Insights
Using AI to automatically generate written content and analytical insights at scale, Automated Insights enables organizations to increase content velocity and make faster data-driven decisions. Its Wordsmith platform transforms raw data into dynamic narratives – personalized to each audience – across use cases like financial reports, marketing assets, customer communications, product descriptions and more.
Based in Durham, NC, Automated Insights builds upon the state‘s legacy as an analytics hub but with a forward-looking approach utilizing AI to drive business content production. With partners like Associated Press, PwC, Yahoo Finance and many more, Automated Insights demonstrates the rapid evolution of North Carolina‘s tech landscape.
Fusion3 Design
Pushing boundaries in 3D printing, North Carolina-based Fusion3 Design provides high-precision printers capable of achieving accuracy levels unprecedented in additive manufacturing. By optimizing printer calibration, platform stability and print processing functionality, Fusion3 breaks down previous barriers to enable industrial use cases in aerospace, automotive, medical and more.
Their fully-enclosed 3D printing workspace also minimizes airborne particle exposure to reduce risks and improve environmental safety. Situated in Greensboro, NC, Fusion3 represents the state‘s emerging role in innovating next-generation manufacturing powered by additive technologies.
Lead Technologies
Founded in Charlotte, NC back in 1990, Lead Technologies offers industry-leading imaging SDKs to software teams looking to integrate robust capture, convert and compression functionality across various applications from document management and medical imaging to mobile apps and cloud services that require manipulating images or PDFs.
Built for developers by developers right here in North Carolina, Lead Technologies enables innovation across verticals by providing the tools to embed advanced imaging capabilities quickly and efficiently.
4. Publicly Traded Tech Stocks Rooted in North Carolina
Rounding out North Carolina‘s broad technology landscape are a slate of publicly traded tech stocks bringing Wall Street exposure to the state‘s robust tech economy:
Wolfspeed
Formerly Cree, Wolfspeed leads the transition from silicon to the next-generation of semiconductors by providing industry-leading silicon carbide and gallium nitride solutions. Wolfspeed‘s robust portfolio enables faster EV charging, seamless 5G connectivity and smarter energy usage across applications.
Traded on the New York Stock Exchange, this North Carolina tech pioneer has even recently attracted investments from Intel and Qualcomm as Wolfspeed solidifies its position at the forefront in wide bandgap semiconductor fabrication and distribution.
Akoustis Technologies
With RF filtering capabilities necessary to enable the full potential of 5G and Wi-Fi 6/6E network capabilities, Akoustis Technologies provides patented BulkONE acoustic wave filters using state-of-the-art manufacturing processes.
Headquartered in Charlotte, North Carolina and traded publicly on the NASDAQ exchange, Akoustis‘s award-winning XBAW RF filters represent a critical building block as mobile and wireless communication providers transition to more complex and congested 5G spectrum.
CommScope
Traded publicly on the NASDAQ exchange after being founded 44 years ago in North Carolina, CommScope has grown into a global leader in connectivity solutions for communication networks and entertainment venues.
From data centers and multi-tenant buildings to stadiums and arenas, CommScope‘s infrastructure portfolio allows networks to efficiently meet surging bandwidth demands. With roots planted firmly in Hickory, North Carolina, CommScope gives investors a piece of the state‘s networked future.
5. Past Contributions That Shaped North Carolina‘s Tech Growth
While the companies above represent the brightest technological stars across North Carolina today, many firms from the state‘s past laid the foundation for future achievements. Let‘s explore some key contributors no longer active that paved the way for North Carolina‘s current leadership position.
Varrow
Founded in Greensboro during 2008, Varrow provided managed IT and private cloud hosting services to businesses across industries like healthcare, manufacturing, financial services and more. By 2015, Varrow was acquired by tech solutions firm Sirius Computer Solutions but the team based in North Carolina played an instrumental role in advocating for and delivering secure, scalable enterprise technology infrastructure throughout the state‘s economic ascent.
The Next Tech Hotbed
While renowned technology hubs like Silicon Valley and New York unlikely to be unseated from their positions atop the tech world anytime soon, North Carolina continues gaining ground fast as an emerging industry leader spanning verticals and company maturity levels.
From video game pioneers and open source trailblazers to semiconductor manufacturers equipment powering our connected future, the Tar Heel state delivers an impressive lineup of technology innovators, growth-stage stars and stalwart giants.
As this momentum continues building backed by a thriving startup ecosystem and top-ranked computer science and engineering school pipelines at NC State, UNC-Chapel Hill, Duke and Wake Forest, expect North Carolina‘s technology leadership to keep surging in the years ahead. The future remains bright for tech companies both small and large that call this southern state home.
