How Startup Funding Changed at Each Stage in 2024

Startups on Carta have raised about 17% more capital in 2024 compared with 2023.

But that positive trend overall hides some significant differences by stage.

Data for US startups on Carta (about 45,000 companies), Q1-Q3 in each year.

𝗣𝗿𝗲-𝗦𝗲𝗲𝗱

• Total funding down 5% from 2023

• Q4 is usually a big quarter, may end up even or slightly higher

𝗦𝗲𝗲𝗱

• Down 7% over the first 3 quarters

• Seed on SAFEs is actually up, while priced equity seed is lower

𝗦𝗲𝗿𝗶𝗲𝘀 𝗔

• Down 11% in total funding from last year

𝗦𝗲𝗿𝗶𝗲𝘀 𝗕

• Up 15% from 2023 so far

𝗦𝗲𝗿𝗶𝗲𝘀 𝗖

• Up 36% from 2023 so far

𝗦𝗲𝗿𝗶𝗲𝘀 𝗗

• Up 72% from 2023 so far

𝗦𝗲𝗿𝗶𝗲𝘀 𝗘+

• Up 105%(!) from 2023 so far

Looks like early-stage funding is basically trundling along, with a sore spot at Series A, while late-stage has regained a bit of confidence. Of course the size of those late-stage rounds can really impact these figures, as it doesn't take too many $500M+ rounds to add up to real money.

My bet is we see increases basically across the board in 2025, but then again I'm optimistic by nature.

#startups #fundraising #founders #venturecapital

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