diff --git a/apps/www/components/SurveyResults/SurveyWordCloud.tsx b/apps/www/components/SurveyResults/SurveyWordCloud.tsx
index c3744132535..faf0f63e89f 100644
--- a/apps/www/components/SurveyResults/SurveyWordCloud.tsx
+++ b/apps/www/components/SurveyResults/SurveyWordCloud.tsx
@@ -175,8 +175,8 @@ export function SurveyWordCloud({
                 </div>
               </div>
             )}
-            <span className="font-mono md:text-lg text-foreground tracking-wide">
-              {scramblingTexts[index].toUpperCase() || text.toUpperCase()}
+            <span className="font-mono md:text-lg text-foreground tracking-wide uppercase">
+              {scramblingTexts[index] || text}
             </span>
           </li>
         ))}
diff --git a/apps/www/data/surveys/state-of-startups-2025.tsx b/apps/www/data/surveys/state-of-startups-2025.tsx
index 7dbefd22a6f..f3e1d769c52 100644
--- a/apps/www/data/surveys/state-of-startups-2025.tsx
+++ b/apps/www/data/surveys/state-of-startups-2025.tsx
@@ -427,6 +427,261 @@ const stateOfStartupsData = {
       ],
     },
   ],
+  participantsList: [
+    {
+      company: 'Wasp',
+      url: 'https://wasp.sh/',
+    },
+    {
+      company: 'Greptile',
+      url: 'https://www.greptile.com/',
+    },
+    {
+      company: 'Zaymo',
+      url: 'https://zaymo.com',
+    },
+    {
+      company: 'Jazzberry',
+      url: 'https://jazzberry.ai',
+    },
+    {
+      company: 'Shor',
+      url: 'https://tryshor.com',
+    },
+
+    {
+      company: 'Mono',
+      url: 'https://www.mono.la',
+    },
+    {
+      company: 'Affl.ai',
+      url: 'https://www.affil.ai',
+    },
+    {
+      company: 'Docsum',
+      url: 'https://www.docsum.ai/',
+    },
+    {
+      company: 'Hazel',
+      url: 'https://hazelai.com/',
+    },
+    {
+      company: 'Rivet',
+      url: 'https://rivet.gg/',
+    },
+    {
+      company: 'Trieve',
+      url: 'https://trieve.ai/',
+    },
+    {
+      company: 'Artificial Societies',
+      url: 'https://societies.io/',
+    },
+    {
+      company: 'Gauge',
+      url: 'https://withgauge.com/',
+    },
+    {
+      company: 'Stardex',
+      url: 'https://www.stardex.com/',
+    },
+    {
+      company: 'TrueClaim',
+      url: 'https://www.trytrueclaim.com/',
+    },
+    {
+      company: 'Autosana',
+      url: 'https://autosana.ai/',
+    },
+    {
+      company: 'Vespper',
+      url: 'https://vespper.com/',
+    },
+    {
+      company: 'Curo',
+      url: 'https://www.curocharging.com/',
+    },
+    {
+      company: 'Kombo',
+      url: 'https://kombo.dev/',
+    },
+    {
+      company: 'Candle',
+      url: 'https://www.trycandle.app/',
+    },
+    {
+      company: 'Trainloop',
+      url: 'http://trainloop.ai/',
+    },
+    {
+      company: 'Replit',
+      url: 'https://replit.com/',
+    },
+    {
+      company: 'Roe AI',
+      url: 'https://getroe.ai/',
+    },
+    {
+      company: 'Kestral',
+      url: 'https://kestral.team/',
+    },
+    {
+      company: 'Revyl',
+      url: 'https://www.revyl.ai/',
+    },
+    {
+      company: 'Arva AI',
+      url: 'https://www.arva.ai/',
+    },
+    {
+      company: 'Posthog',
+      url: 'https://www.posthog.com',
+    },
+    {
+      company: 'Rootly',
+      url: 'https://rootly.com/',
+    },
+    {
+      company: 'Throxy',
+      url: 'https://throxy.com/',
+    },
+    {
+      company: 'Zapi',
+      url: 'https://heyzapi.com/',
+    },
+    {
+      company: 'Leaping AI',
+      url: 'https://www.leapingai.com/',
+    },
+    {
+      company: 'WarpBuild',
+      url: 'https://www.warpbuild.com/',
+    },
+    {
+      company: 'Domu',
+      url: 'https://www.domu.ai/',
+    },
+    {
+      company: 'Bilanc',
+      url: 'https://www.bilanc.co/',
+    },
+    {
+      company: 'Miru',
+      url: 'https://www.miruml.com/',
+    },
+    {
+      company: 'Repaint',
+      url: 'https://repaint.com/',
+    },
+    {
+      company: 'Cubic',
+      url: 'https://cubic.dev/',
+    },
+    {
+      company: 'CTGT',
+      url: 'https://www.ctgt.ai/',
+    },
+    {
+      company: 'Integrated Reasoning',
+      url: 'https://integrated-reasoning.com/',
+    },
+    {
+      company: 'Datafruit',
+      url: 'https://datafruit.dev/',
+    },
+    {
+      company: 'mcp-use',
+      url: 'https://mcp-use.com/',
+    },
+    {
+      company: 'Weave',
+      url: 'http://getweave.com/',
+    },
+    {
+      company: 'Palmier',
+      url: 'https://www.palmier.io/',
+    },
+    {
+      company: 'Rainmaker',
+      url: 'http://www.rainmaker.nyc/',
+    },
+    {
+      company: 'Wasmer',
+      url: 'https://wasmer.io/',
+    },
+    {
+      company: 'Artie',
+      url: 'https://www.artie.com/',
+    },
+    {
+      company: 'Lumari',
+      url: 'https://www.lumari.io/',
+    },
+    {
+      company: 'Hitpay',
+      url: 'https://www.hitpayapp.com/',
+    },
+    {
+      company: 'Tempo',
+      url: 'https://www.tempo.new/',
+    },
+    {
+      company: 'SalesPatriot',
+      url: 'https://www.salespatriot.com/',
+    },
+    {
+      company: 'Surge',
+      url: 'https://surge.app/',
+    },
+    {
+      company: 'Linum',
+      url: 'https://www.linum.ai/',
+    },
+    {
+      company: 'Rebill',
+      url: 'https://www.rebill.com/',
+    },
+    {
+      company: 'Careswift',
+      url: 'https://www.careswift.com/',
+    },
+    {
+      company: 'Autumn',
+      url: 'https://useautumn.com/',
+    },
+    {
+      company: 'Rollstack',
+      url: 'https://www.rollstack.com/',
+    },
+    {
+      company: 'OpenNote',
+      url: 'https://opennote.com/',
+    },
+    {
+      company: 'Coverage Cat',
+      url: 'https://www.coveragecat.com/',
+    },
+    {
+      company: 'Flair Labs',
+      url: 'https://www.flairlabs.ai/',
+    },
+    {
+      company: 'Percival',
+      url: 'https://www.percivaltech.com/',
+    },
+    {
+      company: 'Morphik',
+      url: 'https://morphik.ai/',
+    },
+    {
+      company: 'DrDroid',
+      url: 'https://drdroid.io/',
+    },
+    {
+      company: 'Nautilus',
+      url: 'https://nautilus.co/',
+    },
+  ],
 }
 
 export default stateOfStartupsData
diff --git a/apps/www/pages/state-of-startups.tsx b/apps/www/pages/state-of-startups.tsx
index 23ea51d3f12..d3f33fbc66e 100644
--- a/apps/www/pages/state-of-startups.tsx
+++ b/apps/www/pages/state-of-startups.tsx
@@ -1,5 +1,6 @@
 import { useEffect, useRef, useState, forwardRef } from 'react'
 import { useRouter } from 'next/router'
+
 import Link from 'next/link'
 import { NextSeo } from 'next-seo'
 
@@ -165,6 +166,7 @@ function StateOfStartupsPage() {
                   >
                     <Link
                       href={`#chapter-${chapterIndex + 1}`}
+                      target="_blank"
                       onClick={() => setIsTocOpen(false)}
                       className={cn(
                         'block px-6 py-2 text-xs transition-colors font-mono uppercase tracking-wider text-center text-foreground-light hover:text-brand-link hover:bg-brand-300/25',
@@ -293,6 +295,7 @@ function StateOfStartupsPage() {
           </SurveyChapter>
         ))}
         <CTABanner ref={ctaBannerRef} />
+        <ParticipantsList />
       </DefaultLayout>
     </>
   )
@@ -300,12 +303,62 @@ function StateOfStartupsPage() {
 
 export default StateOfStartupsPage
 
+// Component for the participants list
+const ParticipantsList = () => {
+  const [shuffledParticipants, setShuffledParticipants] = useState(pageData.participantsList)
+  const [isShuffled, setIsShuffled] = useState(false)
+
+  useEffect(() => {
+    // Shuffle the participants list after component mounts (client-side only)
+    const shuffled = [...pageData.participantsList]
+    // Fisher-Yates shuffle algorithm
+    for (let i = shuffled.length - 1; i > 0; i--) {
+      const j = Math.floor(Math.random() * (i + 1))
+      ;[shuffled[i], shuffled[j]] = [shuffled[j], shuffled[i]]
+    }
+    setShuffledParticipants(shuffled)
+    setIsShuffled(true)
+  }, [])
+
+  return (
+    <section className="flex flex-col items-center gap-16 md:gap-24 px-4 py-20 md:py-28 text-center border-b border-muted">
+      <div className="flex flex-col items-center gap-4 max-w-prose">
+        <h2 className="text-foreground text-3xl text-balance">Thank you</h2>
+        <p className="text-foreground-light text-lg text-balance max-w-prose">
+          A special thanks to the following companies for participating in this year’s survey.
+        </p>
+      </div>
+      <ul className="grid grid-cols-2 sm:grid-cols-3 lg:grid-cols-4 xl:grid-cols-5 items-center gap-x-2 gap-y-4 md:gap-x-4 md:gap-y-8 w-full mx-auto px-6 lg:px-16 xl:px-20">
+        {shuffledParticipants.map((participant, index) => (
+          <li
+            key={participant.company} // Use company name as stable key
+            className="transition-opacity duration-500 ease-in-out"
+            style={{
+              opacity: isShuffled ? 1 : 0,
+              transitionDelay: `${index * 50}ms`, // Stagger the fade-in
+            }}
+          >
+            <Link
+              href={participant.url}
+              target="_blank"
+              rel="noopener noreferrer"
+              className="text-xs md:text-sm font-mono text-center tracking-widest uppercase text-foreground-lighter hover:text-brand-link transition-colors"
+            >
+              {participant.company}
+            </Link>
+          </li>
+        ))}
+      </ul>
+    </section>
+  )
+}
+
 // Component for the 'Builders choose Supabase' CTA at the bottom of the page
 const CTABanner = forwardRef<HTMLElement>((props, ref) => {
   const sendTelemetryEvent = useSendTelemetryEvent()
   return (
     <section
-      className="flex flex-col items-center gap-4 py-32 text-center border-b border-muted"
+      className="flex flex-col items-center gap-4 px-4 py-32 text-center border-b border-muted"
       style={{
         background:
           'radial-gradient(circle at center 280%, hsl(var(--brand-400)), transparent 70%)',