The educational-technology market today would appear to be a decidedly international one, judging from the growing demand for digital products that can serve schools both within and outside of U.S. borders, including in the developing world. Public investment in ed-tech in some countries, and increased consumer buying power, is contributing to that trend.

A new analysis offers perspective on the global nature of the market. CB Insights, a New York-based market research and analysis company, examines where the ed-tech companies receiving financing in the market today are headquartered—and finds that more than 50 percent of ed-tech investments over the past two years have been in companies based outside the United States.

The companies receiving financing are based across the globe—China, India, Russia, the United Kingdom, and other locations, CB Insights says its research indicates.

Within the United States, California’s Silicon Valley, not surprisingly, had the largest number of ed-techs receiving financing over the past two years, with 16 percent, though New York “has quietly grown its own ecosystem of ed-tech startups,” CB Insights says.

The financing of companies outside the United States also grew at a pretty fast clip compared to the Silicon Valley, the research shows. The median deal size, however, was still bigger in Silicon Valley and a number of other regions in the United States than it was abroad.

See the full breakdown, below: