Founder Fridays No. 175
December Funding Data
Happy Friday! Welcome to the January of 2026.
Check out the the December 2025 venture capital funding data from AngelList.
Pre-Seed
Median Money Raised:
$660,000
Median Post-Money Valuation:
$10,000,000
Seed
Median Money Raised:
$4,232,800
Median Post-Money Valuation:
$28,600,000
Series A
Median Money Raised:
$17,800,200
Median Post-Money Valuation:
$102,300,000
Series B
Median Money Raised:
$17,800,200
Median Post-Money Valuation:
$163,333,333
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?
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 $24,000. No runaway legal costs. No surprise bills. Just transparent pricing. If you’ve got an upcoming fundraise, let’s talk.
Really enjoying Founders Friday, especially the pre-seed and seed data. Thanks for putting this out consistently every week, it’s genuinely useful.
Quick question on the metrics you share (median raise amounts and median post-money valuations across pre-seed, seed, Series A/B): I understand the data comes from AngelList, but would you be open to sharing a bit more detail on the underlying dataset? Are these data publicly available? I’d love to dig deeper into it.
Thanks again for your work, Kyle, great read as always!