Funding benchmark · last 12 months

The typical Series B round in the United States

From 222 Series B rounds announced in the United States over the last twelve months, each read from a named source. Half of them raised between $40M and $110M.

See the roundsAll benchmarks

Series B United States
Median round$60M
$25M1 in 10 below$40M – $110Mmiddle half$250M1 in 10 above

222 rounds counted · recounted nightly

Rounds counted222Series B rounds in the United States, last 12 months
Against worldwide+20%vs the $50M worldwide median
Since last round12 momedian gap, from 72 companies we saw raise before
Lead named91%of these rounds name the investor who led

The trend

Median Series B round, quarter by quarter

From $38M in 2024 Q4 to $63M in 2026 Q3. Quarters with fewer than five rounds are left blank.

$38M'24 Q428 rds
$63M'25 Q133 rds
$50M'25 Q235 rds
$40M'25 Q337 rds
$50M'25 Q439 rds
$64M'26 Q158 rds
$75M'26 Q261 rds
$63M'26 Q350 rds

Who leads

The most active leads

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

  1. 1General Catalyst8 led
  2. 2Andreessen Horowitz5 led
  3. 3Accel5 led
  4. 4Index Ventures5 led
  5. 5Battery Ventures5 led
  6. 6New Enterprise Associates4 led

Recent examples

Series B 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 A$25MSeries C$100MSeries D$190MGrowth$200M

Series B elsewhere

AI$55MFintech$40MUnited Kingdom$43MHealthcare$46MBiotech$63MConstruction$40MCybersecurity$58MRobotics$63MEnterprise Software$49M

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Q&A

How big is a typical Series B round in the United States?

The median is $60M, from 222 Series B rounds announced in the United States in the last twelve months. Half of them raised between $40M and $110M; one in ten raised more than $250M.

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.