Web investing – stats on round size and estimated pre-money

By November 27, 2008Venture Capital

Last week Julien Wallen posted some interesting data on funding for web startups.  The whole post is well worth a read (including DFJs position as most prolific investor in this space over the last 4-5 years….) but the following two tables are the ones I found most interesting.

This first table gives the average investment size by stage, with the median Series A coming in at $4.8m.

In this second table Julien has worked backwards from the hard data about round size and rules of thumb guiding normal levels of dilution to estimate pre-money valuations, again by stage.  This is an inexact science so Julien has given wide ranges, it is still interesting though.  For a fuller explanation of how these estimates were calculated please check out the original post.