Deal volume & median round sizes
Rounds tracked from SEC Form D filings, company announcements, and press-verified reporting. Stage medians cover the trailing 12 months — the window where stage labels are densest; yearly totals count every tracked round.
By stage · last 12 months
| Stage | Rounds | Median size | Disclosed total |
|---|---|---|---|
| Pre-Seed | 439 | $2M | $411.6M |
| Seed | 1,850 | $6M | $14B |
| Series A | 1,593 | $20M | $30.1B |
| Series B | 816 | $45M | $43.1B |
| Series C | 418 | $75M | $28.7B |
| Growth | 383 | $150M | $50.9B |
By year · all tracked rounds
| Year | Rounds | With amounts | Median | Disclosed total |
|---|---|---|---|---|
| 2026 | 15,168 | 10,809 | $3.2M | $510.6B |
| 2025 | 21,404 | 15,573 | $2.7M | $314.8B |
| 2024 | 19,875 | 14,805 | $2.3M | $241.6B |
| 2023 | 23,725 | 19,224 | $1.2M | $271.3B |
| 2022 | 28,905 | 23,710 | $1.4M | $428.8B |
| 2021 | 30,967 | 25,816 | $1.5M | $552.4B |
| 2020 | 23,270 | 20,028 | $977K | $291.5B |
| 2019 | 23,905 | 21,265 | $791K | $196.7B |
| 2018 | 22,583 | 19,996 | $971.8K | $1.2T |
| 2017 | 21,562 | 19,297 | $880K | $158.8B |
Yearly medians span all stages and skew toward the small Form D filings most rounds are — use the stage table for stage-level norms.
Frequently asked questions
- What is the median Pre-Seed round size right now?
- $2M, computed across 439 Pre-Seed rounds announced in the last 12 months and tracked by Fundraising Fox.
- What is the median Seed round size right now?
- $6M, computed across 1,850 Seed rounds announced in the last 12 months and tracked by Fundraising Fox.
- What is the median Series A round size right now?
- $20M, computed across 1,593 Series A rounds announced in the last 12 months and tracked by Fundraising Fox.
- What is the median Series B round size right now?
- $45M, computed across 816 Series B rounds announced in the last 12 months and tracked by Fundraising Fox.
- What is the median Series C round size right now?
- $75M, computed across 418 Series C rounds announced in the last 12 months and tracked by Fundraising Fox.
- What is the median Growth round size right now?
- $150M, computed across 383 Growth rounds announced in the last 12 months and tracked by Fundraising Fox.
- How many venture rounds were announced in 2025?
- Fundraising Fox tracked 21,404 rounds announced in 2025, with $314.8B in disclosed amounts across 15,573 of them.