How do seed round valuations differ across the US?
Data here: 1,526 priced seed rounds raised over the past 12 months. Only included cities with at least 40 seed rounds in that timeframe.
Also filtered to just SaaS + Fintech + Healthtech in order to strip away some of the confusion inherent in including hard sciences alongside software companies.
Bubble size is total rounds, label (and color scheme) related to valuations in the chart below.
𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗦𝗲𝗲𝗱 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻𝘀 𝗟𝗲𝗮𝗱𝗲𝗿𝗯𝗼𝗮𝗿𝗱
1. Boston - $16.9M 2. Bay Area - $16M 3. New York - $14.6M 4. Chicago - $14M 5. Austin - $13.5M 6. DC - $13.6M 7. Seattle - $13.3M 8. LA - $13.3M 9. Atlanta - $11.8M 10. Miami - $10.9M 11. Dallas-FW - $10.6M 12. San Diego - $10.4M 13. Denver/Boulder - $9.4M
Unsurprised at most of this list - but did note Chicago up near the top of the list (on not very many rounds, but still)!
Goes to show that location still does matter and sometimes has major impact on both fundraising economics for founders and fund economics for investors.
Dilution is fairly steady at 20% in many cases, so that's something.
Share with your seed-stage friends!
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