North Carolina has quietly become one of the top technology hubs in the United States, home to hundreds of tech companies ranging from telecom infrastructure providers to pharmaceutical analytics firms. Attracting businesses with its low costs, access to research universities like Duke and strong workforce pipeline, the state now boasts at least 17,261 tech businesses that employ over 332,000 residents in high-paying jobs (Source: NC TECH).
While Silicon Valley grabs more headlines, North Carolina‘s Research Triangle Park (RTP) near Raleigh contains the highest concentration of PhD‘s outside of MIT and over 200 companies focused on fields like data science, cloud computing and network infrastructure. Let‘s examine some of the state‘s largest, most influential tech firms based on employees and revenue.
Homegrown North Carolina tech companies that were nurtured locally into industry leaders include:
Epic Games
Founded in Potomac, Maryland in 1991, video game developer Epic Games moved its headquarters to Cary, North Carolina early on and today employs thousands in the state. Creator of blockbuster games like Fortnite and Gears of War, Epic Games has emerged as one of the most valuable private companies in tech, with estimates putting its worth from $15 billion to over $30 billion after recent funding rounds.
Epic Games drove an estimated $5.7 billion in consumer spending in 2020, boasting hundreds of millions of gamers globally according to analytics firm SuperData. Aside from developing its own hit video games, Epic also operates the Unreal gaming engine used by partners to build immersive 3D experiences and offers online services like Epic Games Store, Epic Online Services and Easy Anti-Cheat.
The company has been on an acquisition spree lately as well, gobbling up firms like Psyonix (Rocket League game), Mediatonic (Fall Guys game), Harmonix and 3Lateral to expand its gaming empire. With smash hits like Fortnite and growing services ecosystem, Epic Games shows no sign of slowing down as a homegrown North Carolina tech titan.
Red Hat
Although recently acquired by IBM for $34 billion, open source pioneer Red Hat maintains its long-time headquarters in downtown Raleigh, serving enterprise clients globally from North Carolina. Started out of a house in 1993 offering Linux and open source software goods for data centers and mainframes, Red Hat has blossomed into a global force in cloud computing infrastructure and services powering 90% of Fortune 500 companies.
Red Hat made early bets on virtualization, containers and DevOps that allowed it to grow fast along with client needs to optimize networks and cut costs. Flagship products today include Red Hat Enterprise Linux (RHEL), OpenShift, Ansible and a vast portfolio of open hybrid cloud solutions. With a reputation for reliability and high-performance, Red Hat has become the most trusted name in enterprise Linux / open source software with 24/7 support and industry partnerships with cloud giants AWS, Google Cloud and Microsoft Azure.
Boasting 13,000 employees with 25% located in North Carolina alone, Red Hat has been instrumental in turning the Research Triangle region into a magnet for tech talent and VC funding (Source: WRAL TechWire). Though its future resides within IBM‘s massive enterprise IT business after the 2019 buyout, Red Hat continues to chart its own path by innovating bleeding-edge software products that maximize flexibility for cloud adopters.
Bandwidth
Less known outside the state, Raleigh-headquartered Bandwidth has quietly become a leading communications platform and VoIP infrastructure provider powering billions of calls and text messages monthly. Founded in 1999, Bandwidth offers software APIs and end-to-end communications solutions enabling enterprise clients and telecom partners to embed messaging, voice and 911 access into software apps via easy SDK integration.
Serving big-name customers like Google Voice, Zoom, Microsoft Teams and RingCentral, Bandwidth handles ~164 million API calls daily on its network, establishing itself as a key communications bridge linking users and services (Source: MarketWatch). Beyond reliable call routing / text messaging infrastructure, Bandwidth also provides 911 services for over 100 million numbers and fraud prevention / call monitoring tools.
Great workplace culture combined with cutting-edge VoIP technology has fueled staggering growth for this North Carolina upstart. In the past five years alone, Bandwidth‘s workforce has nearly quadrupled to over 1,300 while revenue climbed from $150 million in 2016 to $434 million in 2020. As integrated voice/text communications becomes ubiquitous in business and consumer software apps, Bandwidth finds itself well-positioned as a stealth giant in next-gen telecom.
In addition to renowned homegrown companies, many technology services leaders like IBM, Verizon Wireless, Cisco, Fidelity Investments and Dell boast major employment centers in North Carolina today.
IQVIA
Born from the merger of IMS Health and Quintiles in 2016, IQVIA has fast emerged as one of the largest healthcare data analytics companies in the world. IQVIA utilizes massive information sets on patients, treatments, medical records and insurance to provide insights that boost R&D productivity, clinical trial efficiency and data-based decision making for biopharma / med device makers.
With predicted 2022 revenue topping $14 billion and employment rolls of over 79,000, North Carolina-based IQVIA continues aggressive growth through new partnerships and acquisitions under CEO Ari Bousbib (Source: Modern Healthcare). Recent buyouts include digital health coaching platform TNG and German healthcare data experts AiCure, while the company also maintains dedicated R&D centers in global biotech hubs.
Beyond sheer data depth, IQIVA differentiates itself from niche analytics rivals by directly working with clients to apply findings towards faster therapy development and direct patient treatment guidance. Customer satisfaction seems strong too – one trusted client, pharma giant Pfizer, recently signed a large private cloud services deal to enhance how it utilizes IQVIA‘s data offerings.
As healthcare shifts towards preventative, genetics-based and data-driven treatment options, IQVIA stands ready to speed practical application of medical discoveries in the field. Expect this tech-empowered healthcare specialist to continue growing, aided by over 7,400 North Carolina-based employees in areas like technology development and life sciences vertical expertise.
Qorvo
A leading semiconductor manufacturer specializing in radio frequency solutions and chipsets, Qorvo employs over 8,500 worldwide while operating a major North Carolina facility in Greensboro. Qorvo supplies high-performance RF components that enable ubiquitous modern technologies like cable internet, smart energy grids, electric vehicles, satellites, radar, healthcare devices and commercial infrastructure.
Founded in 2015 via the merger of North Carolina‘s RF Micro Devices and TriQuint Semiconductor of Oregon, Qorvo ("core technologies") has seen its stock price nearly triple since 2017 amid soaring demand for mobile data solutions. Key products include power amplifiers, control ICs, filters, duplexers and more geared towards advanced 4G/5G infrastructure. Qorvo posted $3.4B in 2021 revenue.
While Qorvo operates manufacturing hubs overseas closer to core customers, thousands of North Carolina employees drive critical areas like HR, IT, compliance, finance and graphics chip design from Greensboro. President Eric Creviston leads Qorvo‘s product groups out of the state. Supporting wireless carriers like Verizon, Vodafone and Sprint with cutting-edge RF technology for over 25 years, Qorvo proves North Carolina fosters employers competitive on the global wireless stage.
SAS Institute
An analytics software pioneer based in Cary, North Carolina since 1976, SAS Institute illustrates the measurable impact homegrown technology innovators can achieve over time. SAS develops AI-powered business intelligence, analytics, data management and visualization tools used by major public / private sector organizations in finance, pharma, telecom and other analytics-intensive fields.
Despite staying private as a company, SAS Institute boasts 83,000 global customers at $3 billion+ in annual revenue – including 91 of the top 100 companies on the Fortune Global 500 list as clients (Source: SAS Pressroom). Solutions like SAS Viya handle vitally important tasks for businesses like spotting fraud in real time, predicting supply chain disruptions via AI models and mapping customer journeys to boost conversion rates.
Founder Jim Goodnight‘s stewardship has fostered a famously employee-centric corporate culture yielding countless global workplace awards. With many staffers staying 20+ years at SAS thanks to generous perks like free on-site healthcare for workers and their families, this homegrown technology innovator truly represents the loyal, highly skilled workforce found today across North Carolina.
Taking a more speculative, entrepreneurial path, these private North Carolina tech firms still contribute thousands of jobs and help establish the state as an emerging East Coast rival to Silicon Valley innovation.
Automated Insights
Backed by Vista Equity Partners with 150+ global clients, Automated Insights utilizes AI technology to deliver personalized, dynamic written content at massive scale. The Wordsmith platform automates narrative text generation around user data like sales figures, sports results or financial records to drive better decision making through individualized storytelling and real-time custom reporting.
With customers across finance, media and brand marketing like Yahoo Sports (for fantasy football recaps), GreatCall (to engage aging users) and Cisco (to personalized sales reports), this North Carolina upstart proves the power of AI to revolutionize business messaging across industries. Touted regularly in both trade (CMSWire) and national (Wired) publications as an NLG leader automating communications via natural language, Automated Insights continues distinguishing itself in the red-hot MarTech space through smart funding, calculated hiring and constantly improving AI algorithms.
Fusion3
A fast-rising player bringing affordable 3D printing hardware and software tools to the education and industrial prototyping markets, Fusion3 is paving inroads for wider additive manufacturing adoption beyond costly premium machinery reserved for advanced use cases.
The Greensboro-based startup offers commercial 3D printers perfect for manufacturing concept modeling, robotics clubs and engineering projects priced below $3,500. It‘s newest F400-S1 model prints with aerospace/medical-grade PEEK and PEKK polymers, ceramics and carbon-fiber reinforced materials, allowing construction of spec parts tough enough for real-world testing applications.
Demonstrating steady customer growth since its 2013 inception, Fusion3 seems positioned as an innovator that can take 3D printing mainstream by lower barriers around printer costs and materials. Experience developing trusted commercial equipment shines through in its annual rankings among the top few "Best 3D Printer Companies" as compiled by All3DP.com.
LEAD Technologies
Founded in 1990 by current CTO Jeff Sorenson, LEAD Technologies is now an industry leader in document imaging, OCR and medical imaging toolsets employed by upwards of 20,000 client sites to gain business insights faster. Its LEADTOOLS SDK speeds development of custom apps for PDF rendering, document conversion, barcode recognition, paper digitization and DICOM medical image storage/exchange.
Supporting healthcare networks, financial service firms and government agencies with reliable high-volume data capture & structuring tech, LEAD enables mission-critical tasks like forms processing for insurance claims, check scanning for deposits and field data gathering via tablets/phones. As the shift towards paperless processes, self-service kiosks and image-based diagnoses accelerates in the 2020s, LEAD Technologies stands ready to equip major enterprises and SMBs alike with proven data extraction capabilities that improve operations and analytics.
These stock exchange-listed technology innovators operate North Carolina headquarters while distributing products/services benefiting households and businesses globally.
Wolfspeed
Formerly known as Cree Inc., Wolfspeed spun off its LED lighting business in 2021 to focus entirely on silicon carbide and gallium nitride power semiconductors essential for electric vehicles + next-gen power grids. Wolfspeed is the industry‘s foremost expert in wide bandgap semiconductor tech used heavily in EV drivetrains, fast chargers and other high efficiency systems.
Traded on the New York Stock Exchange, Wolfspeed earned over $746 million in its most recent fiscal year, representing 48% year-over-year growth (Source: Investor‘s Business Daily). It also boasts $1.3 billion in long-term supply agreements with auto partners, underscoring its supply chain importance as vehicle electrification accelerates through this decade. Key North Carolina operations for Wolfspeed center around 120-mm silicon carbide wafer fabrication along with industry‘s highest-volume SiC device production at its sprawling Durham fabrication site.
Given president Biden‘s goal of 50% EV sales by 2030 coupled with state initiatives like California‘s gas vehicle phase-out by 2035, durable wide bandgap semiconductors from Wolfspeed will become integral for automakers and charging station manufacturers alike in the coming years. With auto analyst group LMC predicting 6.9 million yearly EV sales in North America by 2028, durable North Carolina-based Wolfspeed seems strongly positioned to profit from supporting 90% of all EVs according to Canaccord Genuity estimates.
Akoustis Technologies
Pioneering a new breed of RF filters vital for expanded 5G bandwidth + private enterprise 5G networks, Akoustis Technologies leverages proprietary XBAW RF filter technology allowing multiple bands to transmit via one chip. As mobile operators deploy 5G infrastructure across huge swaths of spectrum, razor-sharp channel separation from Akoustis’ patented XBAW technology becomes critical to prevent signal interference.
Based in Huntersville, North Carolina, Akoustis Technologies saw impressive +45% revenue growth in 2020 followed by 100% order growth in 2021 from clients like Humatics, Taiyo Yuden and other recognized HiTech leaders. After extensive R&D perfecting difficult-to-manufacture XBAW processes, Akoustis now seems poised to capitalize as next-gen Wi-Fi 6E and 5G investment accelerates around connected cars, smart cities, industrial IoT and other high-value use cases requiring maximized RF band availability for blazing fast, reliable wireless performance (Source: Insider Financial).
As a publicly traded industry disrupter addressing RF complexity slowing mainstream 5G adoption, Akoustis and its proven XBAW RF solutions help enable ubiquitous mobile connectivity critical for 21st century households and enterprises. With North Carolina‘s own RTP tech hub thriving off such wireless advances, Akoustis Technologies seems well positioned at the intersection of 5G and private network growth trends gaining momentum globally year after year.
CommScope
Established through a series of acquisitions led by General Instrument‘s broadband division in 1976, CommScope today stands tall as one of telecom‘s largest infrastructure & hardware suppliers to carriers like Verizon, Vodafone and TELUS. CommScope provides critical equipment that enables communications networks – including fiber/copper connectivity gear, small cell nodes, WiFi access points, cable/optical tech and network/subscriber management software.
In 2021, businesses, governments and consumers alike relied extensively on CommScope technology to stay connected and productive through the pandemic. This spurred much-needed capacity upgrades and maintenance driving strong sales performance for CommScope‘s core offerings. The company saw net revenue climb over 31% to reach $8.6 billion, the highest level in over a decade.
With wireless data demand projected to advance another five to seven-fold by 2027 propelled by 5G speeds, internet-enabled devices and immersive technologies like VR gaming or metaverse apps, CommScope continues investing heavily in next-gen infrastructure R&D from its North Carolina labs (Source: Omdiac). From speeding fiber to the home availability to optimizing private 5G enterprise networks, this dependable telecom supplier consistently evolves equipment and software solutions vital for enabling the hyperconnected world we inhabit today.
While many tech businesses thrive long-term in North Carolina today, various past innovators blazed early trails before acquisition spelled relocation or shutdown. These important employers laid early groundwork for the state‘s budding tech scene.
Varrow
Founded in 2008 right as virtualization & cloud infrastructure took off, Greensboro’s Varrow offered halfway migration packages bridging data centers towards eventual cloud capability leveraging then-new software approaches like hyperconverged infrastructure to simplify deployment/maintenance. It served as North Carolina’s first pure cloud MSP focusing outside major metro regions.
Varrow provided fully managed private cloud solutions specializing around VMware, Veeam and Nutanix software suites tailored for each SMB client covering their unique highly available server/storage sizing needs. Though bought out by larger national player Sirius in 2015, Varrow proved adept at spreading virtualization/cloud change management skills into secondary NC markets earlier than rivals while tackling industry skepticism by deploying HCI onsite first before larger public cloud commitments.
The early wins Varrow secured getting North Carolina manufacturers, hospitals and municipalities comfortable adopting software-defined infrastructure laid groundwork for today‘s booming Charlotte cloud computing scene anchoring HQ2 campuses for major hyperscalers like Google, Apple and Amazon.
