Deals › Benchmarks

Round benchmarks

What an AI round looks like in 2026, Series A and above, from 660 disclosed rounds tracked by the desk. Medians: Series A $50M · Series B $125M · Series C $148M. Updated as deals are added.

By stage

StageRoundsMedian25th–75thAverageLast 90 daysPost-money (median)DilutionMost active leads
Series A158$50M$20M–$150M$186M$24M (96)$1.7B (22)13%Lightspeed Venture Partners 3, Andreessen Horowitz 3, Abstract Ventures 2, Index Ventures 2, Bessemer Venture Partners 2
Series B163$125M$60M–$220M$250M$55M (71)$1.3B (31)12%Crosspoint Capital 3, Andreessen Horowitz 3, Menlo Ventures 2, Lightspeed Venture Partners 2, Sequoia Capital 2
Series C99$148M$110M–$300M$333M$145M (43)$3B (31)10%Sequoia Capital 5, Valor Equity Partners 3, Atreides Management 3, Khosla Ventures 3, CapitalG 2
Series D53$250M$120M–$550M$483M$249M (18)$7.49B (22)8%Kleiner Perkins 3, Eclipse 2, Sequoia Capital 2, Index Ventures 2, National Growth Fund of Korea 1
Series E25$313M$192M–$650M$1.34B$250M (13)$7.5B (12)7%Schwarz Group 1, Atreides Management 1, Trace Capital 1, S32 1, Insight Partners 1
Series F13$650M$400M–$1B$1.02B$400M (3)$30B (6)10%Valor Equity Partners 1, Atreides Management 1, National AI Industry Investment Fund (China) 1, General Atlantic 1, Altimeter Capital 1
Series G6$572M$436M–$1.65B$5.62B$400M (1)$12.7B (3)8%Goldman Sachs 1, Evolution Equity Partners 1, Advent International 1, JPMorganChase Strategic Investment Group 1, Coatue 1
Series H+6$5B$2B–$8.75B$14.4B$550M (1)$42B (4)6%Diffusion 1, Lightspeed Venture Partners 1, Altimeter Capital 1, Dragoneer 1, Sequoia Capital 1
Growth146$200M$104M–$479M$2.65B$189M (74)$4.5B (36)10%Nvidia 5, Sequoia Capital 4, Coatue 3, Bessemer Venture Partners 3, Andreessen Horowitz 3
Largest at each stage: Series A DeepSeek $7B · Series B Prometheus $12B · Series C DayOne Data Centers $4.5B · Series D Mistral AI $3.58B · Series E xAI $20B · Series F Moonshot AI $3.5B · Series G Anthropic $30B · Series H+ Anthropic $65B · Growth OpenAI $122B.

By sector

SectorRoundsMedian roundTotal raisedPost-money (median)Most common stages
AI131$41M$22.3B$14.3BSeries A 48 · Series B 38 · Growth 18
Hardware16$220M$4.9B—Series B 6 · Series C 4 · Series A 3
Health Care13$150M$4.76B$7BGrowth 5 · Series C 3 · Series B 3
Aerospace12$238M$4.02B$8BSeries C 5 · Series D 3 · Series B 2
Robotics12$174M$3.01B—Series A 5 · Series B 3 · Growth 3
Cloud Infrastructure10$225M$3.9B—Series A 3 · Growth 2 · Series B 2
Cyber Security9$165M$2.64B—Growth 3 · Series A 3 · Series F 1
Foundation models8$20B$241B$133BSeries E 2 · Series A 2 · Series H+ 1
Automotive7$220M$1.87B—Series D 3 · Series B 2 · Growth 1
Industrial Automation7$147M$1.01B—Growth 4 · Series C 2 · Series A 1
Manufacturing7$200M$1.93B—Series A 2 · Growth 2 · Series B 2
AI inference chips6$620M$2.73B$5BSeries C 2 · Series D 1 · Series A 1

Month by month

MonthRoundsTotalSeries A medianSeries B medianSeries C median
Oct 26126$196B$20M$50M$200M
Sep 26142$30.1B$22M$44M$140M
Aug 2661$24.2B$107M$150M$143M
Jul 2668$36.3B$133M$162M$223M
Jun 2655$27.9B$200M$200M$275M
May 2642$90.6B$123M$144M$136M
Apr 2640$35B$113M$200M$121M
Mar 2646$17B$200M$150M$125M
Feb 2644$181B$205M$160M$200M
Jan 2645$33.9B$173M$150M$120M
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