Funding benchmark · last 12 months

The typical Series A round in the United States

From 360 Series A rounds announced in the United States over the last twelve months, each read from a named source. Half of them raised between $16M and $48M.

See the roundsAll benchmarks

Series A United States
Median round$25M
$12M1 in 10 below$16M – $48Mmiddle half$116M1 in 10 above

360 rounds counted · recounted nightly

Rounds counted360Series A rounds in the United States, last 12 months
Against worldwide+25%vs the $20M worldwide median
Since last round13 momedian gap, from 42 companies we saw raise before
Lead named93%of these rounds name the investor who led

The trend

Median Series A round, quarter by quarter

From $16M in 2024 Q4 to $29M in 2026 Q3. Quarters with fewer than five rounds are left blank.

$16M'24 Q439 rds
$16M'25 Q145 rds
$20M'25 Q255 rds
$23M'25 Q362 rds
$25M'25 Q458 rds
$25M'26 Q197 rds
$26M'26 Q287 rds
$29M'26 Q368 rds

Who leads

The most active leads

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

  1. 1Andreessen Horowitz10 led
  2. 2Khosla Ventures6 led
  3. 3Bessemer Venture Partners6 led
  4. 48VC6 led
  5. 5Sequoia Capital5 led
  6. 6Menlo Ventures5 led

Recent examples

Series A rounds in the United States, 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 the United States

Pre-seed$3.0MSeed$9.0MSeries B$60MSeries C$100MSeries D$190MGrowth$200M

Series A elsewhere

AI$21MFintech$16MHealthcare$20MUnited Kingdom$14MRobotics$28MBiotech$32MConstruction$23MCybersecurity$25MBig Data & Analytics$21MSoftware$18MEnergy$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 the United States?

The median is $25M, from 360 Series A rounds announced in the United States in the last twelve months. Half of them raised between $16M and $48M; one in ten raised more than $116M.

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.