Real data from 2,000+ rounds - what is "market" for valuations, round sizes, and dilution across venture capital fundraising in 2025.
All data from startups that use Carta. US startups only, primary rounds only, software companies only.
Note that the dilution column is calculated independently from the round size and valuation columns. So most large rounds in terms of cash do not have outsize dilution, for instance.
Share with a fundraising founder 🙏
#startups #founders
DISCLOSURE: This communication is on behalf of eShares, Inc. dba Carta, Inc. ("Carta"). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. © 2026 Carta. All rights reserved. Reproduction prohibited.
