As the longtime home of marquee corporations like UPS, Home Depot, and Coca-Cola, Georgia has always been recognized for its business-friendly environment and logistics infrastructure. Over the past three decades, a new engine has also begun revving up growth across the state: technology.
With globally renowned research centers, elite engineering talent, and efficient access to regional and national markets, Georgia has emerged as a bonafide tech hub on par with innovation hotspots like Austin and Miami. Massive anchors like Microsoft and Google now operate major offices in the state alongside publicly traded giants and an ever-expanding ecosystem of disruptive startups.
In this comprehensive guide, we analyze the major players – both established and emerging – that position Georgia as a top-10 state for technology and innovation in 2022.
Georgia‘s Unique Advantages as a Premier Tech Hub
Before diving into major companies, let‘s examine why Georgia has become such fertile ground for tech talent and investment in fields like software, fintech, healthtech, supply chaintech, mobility tech, and SaaS.
"Georgia brings together elite engineering talent, top-tier research centers, robust infrastructure, and an extremely favorable business climate - that‘s why innovation thrives here."
- Tech Executives Mitzi Moore (CEO) and Paul Judge (Exec Chairman), PindropWith the above quote in mind, here are five crucial advantages Georgia possesses for technology firms:
1. Elite Talent Pipeline
Backed by globally Top 10 programs at the Georgia Institute of Technology in computing, engineering, and business, skilled graduates abound in Atlanta and beyond. Top students frequently join area corporates and startups upon graduation.
2. Next-Generation Research Capabilities
Institutions like Georgia Tech Research Institute conduct over $900 million annually in cutting-edge applied R&D – forming partnerships with private industry to commercialize innovations.
3. Business-Friendly Ecosystem
In addition to 0% state tax on patent income and R&D tax credits, Georgia’s low regulations, real estate costs, and other expenses reduce barriers for tech entrepreneurs.
4. Logistics and Infrastructure
With the world‘s busiest airport connecting Georgia to global markets and robust last-mile infrastructure, the state provides the physical backbone for supply chain dependent tech companies.
5. Sustainability Focus
Tech giants have committed to sustainability – and Georgia supports this through abundant solar power, electric vehicle infrastructure, and firms like Greenware tackling ESG data analytics.
Let‘s now analyze major public and private players capitalizing on these differentiators:
Giant Publicly Traded Tech Companies
Georgia is home to many of the world‘s largest tech corporations – ranging from venerable hardware giants to next-gen software innovators.
| Company | Revenue | Employees | Description |
|---|---|---|---|
| Cox Enterprises | $21 billion | 55,000 | Conglomerate owning Cox Communications – broadband/cable provider |
| Global Payments | $8.5 billion | 24,000 | Payment processing technology vendor serving 3.5 million+ locations |
| NCR Corporation | $8 billion | 36,000 | Enterprise IT hardware, software and services provider |
| First Data Corporation | $12 billion | 20,000 | Global payment processing technology giant |
| Veritiv Corp | $8 billion | 9,000 | Fortune 500 distributor of business equipment and services |
Let‘s analyze three bellwether examples in detail:
Cox Enterprises
Founded in 1898 in Dayton, Ohio, Cox Enterprises (CEI) now calls Atlanta home – managing a sprawling conglomerate with over $20 billion in annual revenue. While Cox has holdings in broadband, media, automotive, and real estate – its crown jewel remains Cox Communications.
With $12 billion in revenue derived from serving 6.7 million residential customers and 350,000 businesses, Cox Communications stands tall as the 3rd largest cable and internet provider in America. Its national footprint spanning 18 states paves the way for cutting-edge initiatives like 10G fiber trials and smart city pilots in partnership with tech titans like Alphabet subsidiary Sidaas.
Beyond Cox Communications, CEI parent Cox Enterprises also operates Cox Automotive’s Autotrader online car search platform and Kelley Blue Book used vehicle valuation service. Over its century-plus history, Cox Enterprises has continually leveraged technology to evolve its offerings.
“Technology sits at the very center of our business model transformation over the last 25 years..Georgia provides the talent and infrastructure to continually push boundaries.”
– Bob Jimenez, Senior Vice President and Chief Information Officer, Cox EnterprisesGlobal Payments
Transitioning from venerable hardware vendors to next-generation software leaders, Global Payments (GPN) represents how Georgia has also nurtured cutting-edge fintech innovators.
Founded in 1967 and now employing close to 25,000 staff globally, Global Payments has cemented its position as a foremost pure-play payments technology provider. Counting small main street merchants, Fortune 500 retail chains, and major financial institutions as clients – its solutions power electronic transactions worth over $2.5 trillion annually!
From its headquarters just north of Atlanta metro, Global Payments continues to build on GA‘s logistics strength – growing its payments ecosystem across 120 countries. Thanks to synergistic acquisitions like real-time bank transfer enabler ActivePlatform and fraud fighter MineralTree – Global Payments posted a record $250 billion in payment volume for 2021.
Propelled by 30% CAGR in adjusted net revenues since 2017 to now over $8 billion annually, Global Payments shows no signs of slowing down! GA‘s concentration of talent and clients provides fuel for future growth.
NCR Corporation
Tracing its roots in groundbreaking hardware, NCR Corporation (NCR) has successfully navigated multiple tech waves over 138 years since its founding.
NCR‘s first wave of innovation came upon developing the first mechanical cash register in 1884 – leading to eight decades of market dominance in retail tech. Next in the mid 1990s, NCR pivoted to enterprise IT management by acquiring hardware player AT&T Global Information Solutions to serve banks and retailers.
Now in its third act, NCR delivers software, services and subscription offerings tailored to banking, restaurants and specialty retail verticals. These next-gen solutions help NCR‘s 36K global employees generate $8 billion in revenue by driving innovation in areas like branch transformation, restaurant inventory management, and connected payments.
NCR’s billion-dollar research and development investment – with innovation labs based in Georgia – also powers development of emerging technologies like blockchain, IoT and computer vision for its clients.
Major Private Tech Giants
Beyond publicly traded giants, many of Georgia‘s largest private tech firms rival their peers in scale – while retaining advantages of private ownership.
MailChimp
Bootstrapped over two decades without outside funding, email marketing leader MailChimp is now considered one of the state‘s startup success stories. Still privately held by founders Ben Chestnut and Dan Kurzius, MailChimp’s unicorn status comes via its product-led growth to 13+ million global customers.
Mailchimp’s SMB and enterprise platform empowers everyone from Etsy shop owners to Fortune 100 behemoths to design and distribute email newsletters and marketing campaigns with minimal hassles. With $700 million in revenue and over 1,200 employees worldwide, the company is investing for the future – having expanded into ecommerce with its purchase of Shopify competitor LemonStand.
“We started Mailchimp in Atlanta over 20 years ago and are proud it has flourished here. The talent and infrastructure provide the foundation as we scale towards an IPO”
– Mark DiCristina, Chief Sales Officer, MailChimpCalendly
If automated meeting scheduler Calendly isn’t already indispensable to your work routines – it soon might be! Founded in 2013 by entrepreneur Tope Awotona after his own frustrations scheduling calls, Calendly crossed 10 million users in late 2021 with adoption spiking amid remote work/live trends.
Backed by marquee investors like OpenView and Salesforce Ventures with over $550M in funding, Calendly was recently valued at $3 billion employing 400 staff locally in Atlanta. Calendly’s revenue growth over 90% during 2021 cements its status as a breakout SaaS startup to watch in GA.
Greenlight Financial
At the intersection of fintech and family tech sits innovative Greenlight Financial. Launched in 2014 by Atlanta tech veterans Tim Sheehan and Johnson Cook, its smart money management tools for parents and kids hold tremendous appeal.
Via the Greenlight debit card backed by companion mobile app, the platform teaches financial literacy, sets tasks/allowances, facilitates payments, and enables family-wide investment portfolio tracking. No wonder venture investors were eager to fund expansion to the tune of $300 million at a valuation exceeding $2 billion.
With strong commercial traction and over 5 million parent and child members onboarded, Greenlight Financial appears destined for continued growth from its Atlanta base.
Why Georgia Attracts Tech‘s Best and Brightest
Thanks to the runway provided by anchor giants detailed above, growth capital is abundant in Georgia to nurture emerging stars across infrastructure tech, supply chain automation, mobility tech, clean energy, digital health platforms and more.
Venture funding into Georgia-based startups has doubled in the past year to over $4 billion! Whether in the form of VC investment, corporate partnerships or research commercialization support – ample mechanisms exist to transform epiphany into enterprise.
"Between robust infrastructure, engineering talent churning out of Georgia Tech, access to the entire SEC market, and Atlanta‘s standing as a major tech conference hub - founders in the Peach State hold many aces."
- Paul Judge, Executive Chairman, PindropWith the above tailwinds in mind – along with business-friendly policies like 30% tax credits on angel investor holdings – technology innovation will continue flourishing in GA. Let‘s examine some of the next iconic companies who may someday join stalwarts like NCR, Global Payments and Mailchimp as homegrown heroes!
Hot Startups Driving Tomorrow‘s Tech Innovations
| Company | Funding | Description |
|---|---|---|
| Greenware Technologies | $25M | ESG data analytics using AI and satellite imagery |
| Stord | $200M | Supply chain/logistics optimization technology |
| Fleetcor | $150M | Commercial vehicle fleet payments and maintenance |
| RangeForce | $120M | Cybersecurity training and simulation platform |
| Priority Technology Holdings | $100M | Integrated payments/CPaaS solutions |
While the above disruptors take aim at multi-billion dollar industry pain points across sustainability metrics, enterprise logistics, fleet management, cybersecurity awareness and fintech infrastructure – hundreds more aspire to join their ranks each year.
"Between the talent pipeline and mentorship from serial entrepreneurs like myself, I foresee dozens of innovation clusters developing over the next decade in healthtech, mobility tech, insurtech and other verticals."
– Paul Judge, Executive Chairman, PindropGeorgia By the Numbers
- 14K tech establishments statewide with 10K+ concentrated in Atlanta metro
- 5th most tech job postings nationwide over last 12 months
- 9% tech workforce growth pace over past 5 years beating national average
- Atlanta metro added 23K new tech jobs over past 3 years
- #1 in U.S. for FinTech venture funding over $1B in 2021
- Top 5 best state for business in 2022 indexes
"We foresee no slowdown when it comes to Georgia‘s ability to produce blockbuster IPOs and high-growth leaders over the coming decade."
– Larry Williams, President Technology Association of Georgia The Future is Bright in the Peach State
While we summarized heavyweights like NCR, MailChimp and Global Payments blazing the trail along with emerging supernovas like Greenlight Financial and Calendly reaching escape velocity – hundreds of other innovators aspire to join their ranks across verticals.
Thanks to the infrastructure, research might, human capital, efficient geography and business climate detailed herein, expect Georgia‘s star to rise brightly on the national technology scene. Much like the hometown companies that preceded them like Home Depot, UPS and Coca-Cola – the next generation of icons are primed to cement Georgia‘s place on the global innovation map!
