"Series A is the worst place to be investing today."
(in startups at least, according to our guy Harry Stebbings).
Strong take! What does the data say?
The jump from seed valuations to Series A vals is typically around a 3x.
But if you go from a median Seed to a top 10% Series A, the valuation spike is more like 6x.
"Company progression from seed is minimal"...I mean, I hope not? I realize many rounds get done on hype but hopefully you've done something to deserve a 6x jump in valuation!
There are many, many Series A rounds being completed at less than 150x ARR, believe me.
One note here - it's true that Series A valuations are quite high, but seed valuations are too. They never really corrected from the 2021 boom.
Right answer might be...everything is expensive. Go earlier? 😁
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