Founder Fridays No. 132
February Funding Data
Happy Friday!
Welcome to March.
Check out the the February venture capital funding data from AngelList.
I’m going to be in Washington DC next week. Click below if you want to grab a coffee.
Pre-Seed
Median Money Raised:
$967,500
Median Post-Money Valuation:
$9,000,000
Seed
Median Money Raised:
$2,936,250
Median Post-Money Valuation:
$21,750,000
Series A
Median Money Raised:
$11,987,500
Median Post-Money Valuation:
$68,500,000
Series B
Median Money Raised:
$19,280,938
Median Post-Money Valuation:
$97,625,000
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 $25,000 to $50,000 all in. At my firm Westaway, this complete seed round package is a flat $30,000. (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.
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