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Today, Y Combinator’s The latest startup team will begin a two-day presentation cycle. The exchange loves Demo Day, so we’ll keep track of accelerators as much as we can. We recently covered YC’s rival group Techstars latest regarding its geographic footprint.
While we wait for the first presentations to start, this is a good time to take a quick look at the early stage venture market from all the stroke accelerator companies doing this year. Thanks to some early data from the map that many startups use to manage their cap charts, we can paint a much clearer picture of the venture landscape for young tech startups.
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We’ve recently learned that while early-stage rounds have adapted to the new market standards, Series A and later “mid-stage” rounds are still adapting to the changing venture market. We’re not looking at Series D today and later, saving our fire when we have more information and time.
Let’s talk mid-round sizes and deal with seed values up to Series C in the first quarter of this year. How difficult has 2023 been so far compared to a year ago? Do we see signs of recovery from Q4 2022? Is it getting easier for founders to raise money? The answers to those questions are not surprisingly encouraging.
The condition of the first stage
Before we dive into the numbers, here are some caveats:
First, we’re looking at data collected from map users. This is in consideration of the geography covered and the completeness of the data. Still, as popular a tool as Maps is, its data is a solid place to start, as all datasets are imperfect.
Second, the market is exciting right now. Overview The strongest startups often had excellent cash balances leading up to the current collapse, and many of these have not made any money since. This means that there may be some negative selection in the data. Companies that need to raise money and do so are probably worse off average than the average platform. So the following data may show a little more pessimism than what we see today in full startup fundraising.
no more. Let’s see what the numbers can tell us about the early stage market in Q1 2023 and what deals are being signed today.
The information
The seed stage is a bit different than the later stages because venture funding for very early stage startups is relatively protected from the hassles of the public market. As a result, pre-money average seed valuations have remained relatively flat. That was true last quarter as well.
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