2 1
$700M
$600M
80
70
60
50
40
30
20
10
0
$500M
$400M
$300M
$200M
$100M
$0M
75
42
43
21
R O U N D S I Z E
*Note: All figures are as of the time we joined the financing round.
P O R T F O L I O C O M P O S T I O N
MEDIAN ROUND SIZE AND P OST-MONEY VALUATION BY FINANCING ROUND, IN $M*
NUMBER OF INVESTMENTS AND MEDIAN P OST-MONEY VALUATION BY ROUND SIZE , IN $M*
MEDIAN ROUND SIZE MEDIAN POST-MONEY
NUMBER OF INVESTMENTS MEDIAN POST-MONEY VALUATION
Series A
Series B
Series C
Series D+
160 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0
$50M+ $20–49M $10–19M Under $10M
$7.5
$32.8
$13.0
$24.0
$65.0
$54.3
$127.5
$159.4
$25.0
$62.7
$118.7
$562.7
