# Funding benchmarks: typical round sizes by stage, country and sector

> The median startup round at every stage, from 2,995 rounds announced in the last 12 months. Seed: $5.5M. Series A: $20M.

Source: https://millionrounds.com/benchmarks (Millionrounds; every figure on the page links to its filing or article)

Recounted every night

# Funding benchmarks: what a round *really* looks like

The typical round at every stage, worldwide and by country and sector, from 2,995 rounds announced in the last twelve months. Each one was read from a named source, and every page shows how many rounds stand behind it.

See the stagesBy countryBy sector

**Median round, worldwide** last 12 months

[Pre-seed **$2.0M**](https://millionrounds.com/benchmarks/pre-seed)

[Seed **$5.5M**](https://millionrounds.com/benchmarks/seed)

[Series A **$20M**](https://millionrounds.com/benchmarks/series-a)

[Series B **$50M**](https://millionrounds.com/benchmarks/series-b)

[Series C **$100M**](https://millionrounds.com/benchmarks/series-c)

[Series D **$158M**](https://millionrounds.com/benchmarks/series-d)

[Growth **$108M**](https://millionrounds.com/benchmarks/growth)

77 benchmark pages · at least 30 rounds behind each

By stage

## Every stage, worldwide

[Pre-seed **$2.0M** median, from 283 rounds *→*](https://millionrounds.com/benchmarks/pre-seed)[Seed **$5.5M** median, from 852 rounds *→*](https://millionrounds.com/benchmarks/seed)[Series A **$20M** median, from 828 rounds *→*](https://millionrounds.com/benchmarks/series-a)[Series B **$50M** median, from 427 rounds *→*](https://millionrounds.com/benchmarks/series-b)[Series C **$100M** median, from 238 rounds *→*](https://millionrounds.com/benchmarks/series-c)[Series D **$158M** median, from 98 rounds *→*](https://millionrounds.com/benchmarks/series-d)[Growth **$108M** median, from 269 rounds *→*](https://millionrounds.com/benchmarks/growth)

By country

## The median round, country by stage

Each figure links to its own page. A dash means fewer than 30 rounds there this year.

| Country | Pre-seed | Seed | Series A | Series B | Series C | Series D | Growth |
| --- | --- | --- | --- | --- | --- | --- | --- |
| United States | [$3.0M](https://millionrounds.com/benchmarks/pre-seed/united-states) | [$9.0M](https://millionrounds.com/benchmarks/seed/united-states) | [$25M](https://millionrounds.com/benchmarks/series-a/united-states) | [$60M](https://millionrounds.com/benchmarks/series-b/united-states) | [$100M](https://millionrounds.com/benchmarks/series-c/united-states) | [$190M](https://millionrounds.com/benchmarks/series-d/united-states) | [$200M](https://millionrounds.com/benchmarks/growth/united-states) |
| United Kingdom | [$2.0M](https://millionrounds.com/benchmarks/pre-seed/united-kingdom) | [$3.1M](https://millionrounds.com/benchmarks/seed/united-kingdom) | [$14M](https://millionrounds.com/benchmarks/series-a/united-kingdom) | [$43M](https://millionrounds.com/benchmarks/series-b/united-kingdom) | - | - | [$25M](https://millionrounds.com/benchmarks/growth/united-kingdom) |
| India | - | [$2.5M](https://millionrounds.com/benchmarks/seed/india) | [$10M](https://millionrounds.com/benchmarks/series-a/india) | - | - | - | - |
| Australia | - | [$4.0M](https://millionrounds.com/benchmarks/seed/australia) | [$15M](https://millionrounds.com/benchmarks/series-a/australia) | - | - | - | - |

By sector

## The median round, sector by stage

Sectors as we classify each company. A dash means fewer than 30 rounds there this year.

| Sector | Pre-seed | Seed | Series A | Series B | Series C | Series D | Growth |
| --- | --- | --- | --- | --- | --- | --- | --- |
| AI | [$2.1M](https://millionrounds.com/benchmarks/pre-seed/ai) | [$7.0M](https://millionrounds.com/benchmarks/seed/ai) | [$21M](https://millionrounds.com/benchmarks/series-a/ai) | [$55M](https://millionrounds.com/benchmarks/series-b/ai) | [$110M](https://millionrounds.com/benchmarks/series-c/ai) | [$150M](https://millionrounds.com/benchmarks/series-d/ai) | [$150M](https://millionrounds.com/benchmarks/growth/ai) |
| Fintech | [$2.4M](https://millionrounds.com/benchmarks/pre-seed/fintech) | [$5.0M](https://millionrounds.com/benchmarks/seed/fintech) | [$16M](https://millionrounds.com/benchmarks/series-a/fintech) | [$40M](https://millionrounds.com/benchmarks/series-b/fintech) | [$66M](https://millionrounds.com/benchmarks/series-c/fintech) | - | [$55M](https://millionrounds.com/benchmarks/growth/fintech) |
| Healthcare | - | [$4.9M](https://millionrounds.com/benchmarks/seed/healthcare) | [$20M](https://millionrounds.com/benchmarks/series-a/healthcare) | [$46M](https://millionrounds.com/benchmarks/series-b/healthcare) | [$56M](https://millionrounds.com/benchmarks/series-c/healthcare) | - | - |
| Robotics | - | [$8.8M](https://millionrounds.com/benchmarks/seed/robotics) | [$28M](https://millionrounds.com/benchmarks/series-a/robotics) | [$63M](https://millionrounds.com/benchmarks/series-b/robotics) | - | - | - |
| Biotech | - | [$7.3M](https://millionrounds.com/benchmarks/seed/biotech) | [$32M](https://millionrounds.com/benchmarks/series-a/biotech) | [$63M](https://millionrounds.com/benchmarks/series-b/biotech) | - | - | - |
| Software | [$2.0M](https://millionrounds.com/benchmarks/pre-seed/software) | [$5.0M](https://millionrounds.com/benchmarks/seed/software) | [$18M](https://millionrounds.com/benchmarks/series-a/software) | - | - | - | - |
| Cybersecurity | - | [$10M](https://millionrounds.com/benchmarks/seed/cybersecurity) | [$25M](https://millionrounds.com/benchmarks/series-a/cybersecurity) | [$58M](https://millionrounds.com/benchmarks/series-b/cybersecurity) | - | - | - |
| Construction | - | [$5.2M](https://millionrounds.com/benchmarks/seed/construction) | [$23M](https://millionrounds.com/benchmarks/series-a/construction) | [$40M](https://millionrounds.com/benchmarks/series-b/construction) | - | - | - |
| Enterprise Software | - | [$8.3M](https://millionrounds.com/benchmarks/seed/enterprise-software) | [$21M](https://millionrounds.com/benchmarks/series-a/enterprise-software) | [$49M](https://millionrounds.com/benchmarks/series-b/enterprise-software) | - | - | - |
| Big Data & Analytics | - | [$7.5M](https://millionrounds.com/benchmarks/seed/big-data) | [$21M](https://millionrounds.com/benchmarks/series-a/big-data) | - | - | - | - |
| Energy | - | [$5.0M](https://millionrounds.com/benchmarks/seed/energy) | [$26M](https://millionrounds.com/benchmarks/series-a/energy) | - | - | - | - |
| SaaS | - | [$4.0M](https://millionrounds.com/benchmarks/seed/saas) | [$17M](https://millionrounds.com/benchmarks/series-a/saas) | - | - | - | - |
| Manufacturing | - | [$4.4M](https://millionrounds.com/benchmarks/seed/manufacturing) | [$19M](https://millionrounds.com/benchmarks/series-a/manufacturing) | - | - | - | - |
| Hardware & Electronics | - | [$9.5M](https://millionrounds.com/benchmarks/seed/hardware) | [$25M](https://millionrounds.com/benchmarks/series-a/hardware) | - | - | - | - |
| Logistics | - | [$4.0M](https://millionrounds.com/benchmarks/seed/logistics) | [$13M](https://millionrounds.com/benchmarks/series-a/logistics) | - | - | - | - |
| Defence Tech | - | [$8.8M](https://millionrounds.com/benchmarks/seed/defensetech) | [$25M](https://millionrounds.com/benchmarks/series-a/defensetech) | - | - | - | - |
| Climate Tech | - | [$4.4M](https://millionrounds.com/benchmarks/seed/climate) | [$15M](https://millionrounds.com/benchmarks/series-a/climate) | - | - | - | - |
| Healthtech | - | [$4.3M](https://millionrounds.com/benchmarks/seed/healthtech) | [$13M](https://millionrounds.com/benchmarks/series-a/healthtech) | - | - | - | - |
| Financial Services | - | - | [$20M](https://millionrounds.com/benchmarks/series-a/financial-services) | - | - | - | - |

## Know your number, then find your lead

Every benchmark names the firms that lead rounds like yours.

[Find investors](https://millionrounds.com/investor-database)[Or browse the rounds](https://millionrounds.com/rounds)

## Q&A

What is a typical seed round?

Worldwide, the median seed round announced in the last twelve months was $5.5M, from 852 rounds. At Series A it was $20M. Each stage's page has the spread, the trend and the most active leads.

Where do the figures come from?

From funding rounds read out of named articles and filings over the last twelve months, each with a stated amount and stage. Every round is in the record with its source.

Why is there no page for my country or sector?

A page is only published where at least 30 rounds stand behind it, so no figure rests on a handful of deals. More appear as the record grows.

Are the medians biased?

Towards larger rounds. Big rounds are announced and many small ones are not, so the true typical round is probably a little smaller, most of all at pre-seed and seed.