Series C funding is a late-stage equity round raised by an established, scaling company to fund aggressive expansion, acquisitions, new markets, or IPO preparation. Investors no longer evaluate whether the business works (that's settled) but rather how large it can become and what the path to public-markets readiness looks like. It's typically the last round before either an IPO, an acquisition, or a transition into private equity ownership, and is generally the financing that pushes a company firmly into [Scale-Up] territory.
The 2025 benchmarks (Carta and PitchBook):
| Metric | 2025 typical range | Notes |
|---|---|---|
| Round size | $50M-$100M (median ~$65M) | Mega-rounds at $150M-$300M+ exist |
| Post-money valuation | $300M-$700M | Wide varianc... |