710 pre-seed companies raised money on SAFEs on Carta in Q1 2023. Here's what we know:
𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 𝘄𝗶𝘁𝗵 𝗵𝗶𝗴𝗵𝗲𝘀𝘁 𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗰𝗮𝗽𝘀 1. Renewable energy 2. Biotech 3. Video games
In this graphic, we are only showing U.S. companies that raised on post-money SAFEs. While most industries clustered around the $10 million range for median val caps, the top three listed above came in well above that.
𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗺𝗲𝗱𝗶𝗮𝗻 𝗰𝗮𝘀𝗵 𝗿𝗮𝗶𝘀𝗲𝗱 1. Biotech 2. CRM 3. Cybersecurity (basically tied with Hardware)
No surprise that biotech companies need more cash to get moving at the beginning. I'll admit to being slightly surprised by the CRM figure but hey maybe taking on Salesforce requires big bucks.
𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗽𝗿𝗲-𝘀𝗲𝗲𝗱 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 1. SaaS 2. Fintech 3. Healthtech
The traditional software categories keep attracting pre-seed funding. Cool to see strong showings from Social Media and Marketplaces as well.
Ideas for more analysis 🧐:
add in other countries besides the US
build a second map but this time by state rather than industry
layer in AI and Climate as broad cross-industry categorizations
Sign-up for our Data Minute newsletter in the first comment to get those additional analysis ideas whenever we build them. And drop your own ideas in the comments! Mendel Chuang this Friday Q&A is for you.
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