Founder Fridays No. 119
November Funding Data
Happy Friday! Welcome to December.
Check out the the November venture capital funding data from AngelList.
#clientbrag
Before we dive in to the funding data, I want to take a second to give a shout out to one of our clients Nihar Neelakanti who made the Forbes 30 Under 30 list this year in social impact. He’s the founder of EcoSapiens. Their main product is Ecolink is a B2B2C product that creates easy-to-implement sustainability labels for businesses, transforming product sustainability data into interactive experiences. Ecosapiens has secured $5 million in funding from prominent investors including Collab Currency, Menlo Ventures, and CRV.
Pre-Seed
Median Money Raised:
$997,500
Median Post-Money Valuation:
$9,500,000
Seed
Median Money Raised:
$3,045,000
Median Post-Money Valuation:
$21,750,000
Series A
Median Money Raised:
$11,223,750
Median Post-Money Valuation:
$54,750,000
Series B
Median Money Raised:
$31,150,000
Median Post-Money Valuation:
$222,500,000
Startup Funding Guides
I’ve put together a series of guides to equip founders to excel at fundraising. These guides break down the deal term by term and give you negotiation tips so that you can speak to investors with confidence.
Convertible Note: Guide / Video
Should a Seed Round Cost $100,000?
A friend recently told me his relatively straightforward $7 million seed round costs over $100,000 in legal fees — much higher than initially quoted. Unfortunately, this is becoming more common. However, for an experienced startup law firm, a standard seed round based on NVCA docs should cost $20,000 to $40,000 all in. At my firm Westaway, this complete seed round package is a flat$25,000. (It’s also included in our General Counsel — Grow plan.) No runaway legal costs. No surprise bills. Just transparent pricing. If you’ve got an upcoming fundraise, let’s talk.
Post of the Week
