Choose your own adventure: Priced equity seed rounds or SAFE seed rounds?
Focus on the bottom bar of the chart. There have been 587 priced equity seed rounds (US only) on Carta so far in 2023. They have had median pre-money valuations of about $13.2 million and raise $3.2 million in cash.
But there are also quite a few large SAFE rounds happening (all to companies who have not raised any priced equity).
163 companies have raised between $1m and $2.5M on SAFEs, with valuation caps a bit higher than the priced equity valuations but cash quite a bit lower.
Some bold founders have even gotten SAFE rounds of $6 million or more, on valuation caps of $30M.
Honestly looking for some discussion here (from early VCs especially). What do you consider a "seed" round?
Is it by total amount raised? Is it merely the second round of SAFEs after a little initial capital? Does it matter how long the company has been in existence? Jesse Randall, what say you?
Would love to get more clarity on what the market thinks of the term seed so we can provide more targeted data to founders gearing up for their first big raise.
More data, as always, in our weekly newsletter with a link in the comments below.
Here's to the seed round in whichever form you choose!
#cartadata #seedround #startups #founders #fundraising #preseed #SAFEs
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