Every quarter, Carta releases information on the startup ecosystem in our State of Private Markets report. It can take a few weeks for rounds to be recorded on our platform, so we produce a full analysis after we get the final numbers.
In the meantime, we publish a “first cut” of data as close to the end of the quarter as possible. This initial analysis focuses on round valuations and cash raised across the venture stages.
Here’s a preliminary look at Q2 data for U.S. startups:
Mostly modest valuation increases: Median pre-money valuations ticked upward at most venture stages, while Series D and E+ saw rapid increases (on very low volume).
Round size consolidation: The median amount of cash raised was about level from seed through Series C after rising from recent nadirs in 2023.
Although the final numbers on total rounds and capital raised are not yet available for Q2, it looks like overall fundraising will be only slightly higher than it was in Q1.
We’ll publish our full set of quarterly data in the coming weeks. To receive the full report direct to your inbox, sign up for our Data Minute newsletter.
To see the valuations and round size data below split into primary and bridge round figures, you can download this addendum now.
Seed
Series A
Series B
Series C
Series D
Series E+
Download additional data
For round valuations and round size data segmented by bridge and primary financings, download the addendum to our Q2 2024 First Cut:
