Funding benchmark · last 12 months

The typical Series A round in Software

From 50 Series A rounds announced in Software over the last twelve months, each read from a named source. Half of them raised between $13M and $33M.

See the roundsAll benchmarks

Series ASoftware
Median round$18M
$8.9M1 in 10 below$13M – $33Mmiddle half$46M1 in 10 above

50 rounds counted · recounted nightly

Rounds counted50Series A rounds in Software, last 12 months
Against worldwide-11%vs the $20M worldwide median
Since last round-too few earlier rounds on record
Lead named92%of these rounds name the investor who led

The trend

Median Series A round, quarter by quarter

From $17M in 2024 Q4 to $18M in 2026 Q3. Quarters with fewer than five rounds are left blank.

$17M'24 Q411 rds
$12M'25 Q19 rds
$15M'25 Q29 rds
$28M'25 Q38 rds
$25M'25 Q49 rds
$18M'26 Q113 rds
$20M'26 Q26 rds
$18M'26 Q310 rds

Who leads

The most active leads

The firms that led the most Series A rounds in Software this year.

  1. 1Lightspeed Venture Partners2 led
  2. 2Nexus Venture Partners2 led
  3. 3Standard Capital2 led
  4. 4Sequoia Capital1 led
  5. 5Khosla Ventures1 led
  6. 6Bessemer Venture Partners1 led

Recent examples

Series A rounds in Software, latest first

How to read these figures

They come from announced rounds. Large rounds are almost always announced and many small ones never are, so the true typical round is probably a little smaller than shown, most of all at pre-seed and seed. Every round behind them is in the record with its source. How we read rounds.

Other stages in Software

Pre-seed$2.0MSeed$5.0M

Series A elsewhere

AI$21MUnited States$25MFintech$16MHealthcare$20MUnited Kingdom$14MRobotics$28MBiotech$32MConstruction$23MCybersecurity$25MBig Data & Analytics$21MEnergy$26MManufacturing$19MEnterprise Software$21MIndia$10MLogistics$13MDefence Tech$25MHardware & Electronics$25MFinancial Services$20MClimate Tech$15MAustralia$15MHealthtech$13MSaaS$17M

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Q&A

How big is a typical Series A round in Software?

The median is $18M, from 50 Series A rounds announced in Software in the last twelve months. Half of them raised between $13M and $33M; one in ten raised more than $46M.

Which rounds are counted?

Rounds announced in the last twelve months with a stated amount and stage, each read from a named article or filing. A page is only published where at least 30 rounds stand behind it.

Are these figures biased?

Towards larger rounds, yes. Big rounds are announced; many small ones never are. So the true typical round is probably a little smaller than the figure here, especially at pre-seed and seed.

How often does it change?

The figures are recounted from the record every night, as new rounds are read.