Seed Round Benchmarks

Median deal size, valuation, and dilution for Seed Round rounds—powered by Carta.

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Data as of: —

Funding stage

Sector

Region

Date range

Benchmark metrics

Annual median metrics for startups in All Sectors in All of USA
Date range: — – —

Median deal size

Median post-money valuation

Median dilution

Data table

Start time	End time	Funding stage	Sector	Region	Median deal size	Median pre-money val	Median post-money val	Median dilution

Methodology

About the Data

This dataset covers approximately 20,000 primary equity fundraising rounds completed by Carta cap table customers from January 2021 onwards. All data is aggregated and anonymized. Only companies headquartered in the United States are included. Bridge rounds and convertible instruments are excluded.

Regions are defined by U.S. Census Bureau Metropolitan Statistical Areas (MSAs). Bay Area combines two MSAs to cover the full SF + South Bay tech ecosystem; the others map to a single MSA each.

Bay Area— San Francisco–Oakland–Berkeley MSA & San Jose–Sunnyvale–Santa Clara MSA
NYC — New York–Newark–Jersey City MSA
LA — Los Angeles–Long Beach–Anaheim MSA
Boston — Boston–Cambridge–Newton MSA
Austin — Austin–Round Rock–Georgetown MSA
Non-Major Metros — All other U.S.-headquartered companies

How the Filters Work

The charts are designed to visualize temporal trends, while the table is optimized for cross-sectional analysis.

In the charts, this tool aggregates data from all selected sectors and regions into a single metric to show one line per stage over time. It also aggregates data from the selected quarters into their corresponding years to show annual trends.

In the data table, this tool aggregates data across the selected time period. It segments each combination of the selected stages, sectors, and regions into separate rows for comparison. It also includes top-level benchmarks (all-sector, all-region) for direct comparison against granular segments.

More startup & VC insights

This publication contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This publication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein.