Founders - use this cheatsheet to help you raise your next venture round.
Data from 1,000+ VC rounds raised by startups on Carta in the second half of 2024.
𝗡𝗼𝘁𝗲𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗱𝗮𝘁𝗮
US companies only, sorry international folks.
Ai vs non-AI split included as that's the most common filter question we get.
Dilution is calculated 𝗶𝗻𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁𝗹𝘆 from the other metrics. So you can't just read across the rows to get the dilution figure. Typically, lower dilution is better.
𝗞𝗲𝘆 𝗙𝗶𝗻𝗱𝗶𝗻𝗴𝘀
AI companies have higher valuations basically across the board, whether by stage or by percentile range.
20% dilution remains the common wisdom in Seed and Series A rounds (mostly dictated by fund economics rather than specifics with the company).
Pretty damn high medians, especially for AI companies.
More non-AI than AI fundraises in H2 last year, but the pace of AI fundraising was faster.
If you'd like this a copy of this graphic specific to your industry, shout it out in the comments. Might not be able to build all of them but I'll try.
Here's to more & better fundraising in 2025!
#startups #founders #VC #fundraising
Farm-to-table data from Carta out every Thursday - subscribe at the link in graphic.
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