

Q2 just ended - but we already have fresh figures for you.
Our First Cut report looks at median valuations and round sizes from Seed through Series E across the 45,000+ startups on Carta today. We break out each stage individually (and don't miss the download at the end to see primary vs bridge rounds as well)
So any major findings?
Valuations continued to rise, albeit gently and not uniformly across stages
Round sizes seem to have plateaued in many places
The long-awaited arrival of clear positive news may again be delayed another quarter (or half year). Yes, valuations have risen but total fundraising is still rather lukewarm.
Full data, including those fundraising totals, will be released in early August - stick with us!
Subscribe here if you're new to the Data Minute. Forwarding encouraged!
Peter Walker
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.



