What percent of Series A startups become 10x winners?
Took a spin through 8,647 US companies on Carta that raised a Series A round from VCs. We split the data by the date of the Series A financing.
Then we looked at valuation. How much has the valuation increased for these companies since they raised that Series A round?
In 50% or so of cases, Series A was about as valuable as they would ever get.
But of course it matters how long they've had to mature into higher valuations. For companies that raised A in 2017, a full 22% of them are at least 10x more valuable today. Pretty solid chunk!
You can also clearly see the impact of the last boom cycle around startups which ended in 2022. So the companies that raised A in 2021 have been much less likely to get to 10x or higher from their (honestly inflated) 2021 valuations.
𝗙𝗼𝗿 𝟮𝟬𝟭𝟳-𝟮𝟬𝟮𝟬 𝗦𝗲𝗿𝗶𝗲𝘀 𝗔𝘀:
15% are now 10x more valuable
51% are within 2x of the original A valuation
Across all of these years (as of today), there are:
97 companies that have grown at least 50x in valuation
44 companies that have grown at least 100x in valuation
5 that have grown over 500x in valuation
Doesn't mean they have actually exited and returned liquidity to investors, of course. But the massive outliers are out there!
#startups #SeriesA
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