Series A funding is a startup's first major priced equity round, led by an institutional venture capital firm. It is raised to scale a business that has already proven product-market fit and is generating real, repeatable revenue. It sets a formal valuation for the company, brings the first institutional board member, and is the round where the company transitions from "we have early traction" to "we're a fundable growth-stage business."
The 2025 benchmarks (Carta and PitchBook):
| Metric | 2025 typical range | Notes |
|---|---|---|
| Round size | $10M-$15M | $15M-$25M for hot AI/deep-tech |
| Post-money valuation | $40M-$67M (median ~$50M) | Wide variance by sector |
| Pre-money valuation | $30M-$55M | After pool refresh |
| Founder dilution | 17-22% | Includin... |