With 75 percent of venture capital money in the U.S. going to only three states — California, New York, and Massachusetts — it’s never been easy for startups in the middle of the country to raise money. But with more investors pouring money into larger, later-stage rounds, it could get even harder for Heartland startups. As Reuters recently noted, seed-stage funding has been declining over the last two years, with the number of transactions down about 40 percent since mid-2015.

Data from the M&A tracking firm Pitchbook shows that West Coast startups account for about 40 percent of U.S. venture capital deal activity in the second quarter of 2017, but more than 50 percent of deal value. Meanwhile, startups in the Midwest account for a smaller total percentage of deal value — 0.3 percent — than deal activity — 1.4 percent. This means that West Coast startups are not just taking in more deals, but they’re also raising more money per deal.

To check out how deal activity and deal value can change over time, VentureBeat pulled data on the top 10 states that received the most venture capital money, according to Pitchbook data from 2012-2017. A decline in the total number of deals isn’t necessarily a kiss of death for a state’s startup ecosystem — so long as it has a hit that quarter that can raise a large round.

1. California

2. New York

3. Massachusetts

4. Washington

5. Texas

6. Colorado

7. Florida

8. Illinois

9. Pennsylvania

10. North Carolina