Founder Fridays No. 139
April Funding Data
Happy Friday!
Welcome to the month of May.
Check out the the April venture capital funding data from AngelList.
But before you do, you may dig this hilarious startup parody video from the comedian KRAZAM. It’s hard to find good startup / software developer comedy, but this video is good. Click the image to watch.
Pre-Seed
Median Money Raised:
$962,500
Median Post-Money Valuation:
$9,625,000
Seed
Median Money Raised:
$3,152,813
Median Post-Money Valuation:
$22,125,000
Series A
Median Money Raised:
$10,112,813
Median Post-Money Valuation:
$58,625,000
Series B
Median Money Raised:
$24,668,333
Median Post-Money Valuation:
$129,833,333
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 in Legal Fees?
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.
Post of the Week
The New Bar For Raising Capital
