Fresh Q2 2024 data on US startup valuations 📈
To the primary round data:
𝗣𝗿𝗲-𝗦𝗲𝗲𝗱 (𝗿𝗼𝘂𝗻𝗱𝘀 𝗼𝗳 $𝟭𝗠-$𝟮𝗠 𝗼𝗻 𝗦𝗔𝗙𝗘𝘀 𝗼𝗿 𝗡𝗼𝘁𝗲𝘀)
Q1: $9M val cap median
Q2: $10 val cap median
Honestly this bounces around this range, so no major change
𝗦𝗲𝗲𝗱 𝗼𝗻 𝗦𝗔𝗙𝗘𝘀 (𝗿𝗼𝘂𝗻𝗱𝘀 𝗼𝗳 $𝟮𝗠+ 𝗼𝗻 𝗦𝗔𝗙𝗘𝘀)
Q1: $13M val cap (post-money SAFE)
Q2: $14M val cap
Again, nothing major
𝗣𝗿𝗶𝗰𝗲𝗱 𝗦𝗲𝗲𝗱
$12.6M in Q1, rose to $14.1M in Q2
Pretty close to all-time highs for pre-money valuation
𝗦𝗲𝗿𝗶𝗲𝘀 𝗔
Effectively flat from Q1 to Q2, steady at $40M pre-money valuation
𝗦𝗲𝗿𝗶𝗲𝘀 𝗕
13% rise to a $124M in Q2
𝗦𝗲𝗿𝗶𝗲𝘀 𝗖
A nice, round $200M median in Q2
The overall trend is for these pre-money valuations to continue to tick upwards from recent lows in 2023 - but all of these valuation changes are happening against a backdrop of fewer total rounds.
We don't have a full count of fundraising activity from Q2 yet (full report out in ~3 weeks) but my educated guess is that Q2 was only a slightly better quarter in total rounds and cash than Q1.
For more data including round sizes and splits by primary/bridge, be sure to check out the First Cut: State of Private Markets report live now at Carta. Download the addendum for even more precise figures.
Give me a shout in the comments for a direct link or if an Excel version would be useful!
#cartadata #startups #valuations #founders #fundraising
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