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Round benchmarks

What an AI round looks like in 2026, Series A and above, from 585 disclosed rounds tracked by the desk. Medians: Series A $100M · Series B $140M · Series C $145M. Updated as deals are added.

By stage

StageRoundsMedian25th–75thAverageLast 90 daysPost-money (median)DilutionMost active leads
Series A134$100M$22M–$183M$206M$26M (81)$1.7B (19)14%Andreessen Horowitz 3, Lightspeed Venture Partners 2, Oak HC/FT 2, Seligman Ventures 2, Spark Capital 2
Series B147$140M$76M–$230M$270M$61M (63)$1.5B (26)12%Andreessen Horowitz 3, Lightspeed Venture Partners 2, Sequoia Capital 2, Valor Equity Partners 2, Crosspoint Capital 2
Series C93$145M$110M–$300M$337M$145M (47)$3.1B (26)10%Valor Equity Partners 3, Atreides Management 3, Sequoia Capital 3, Khosla Ventures 3, Coatue 2
Series D47$298M$145M–$525M$509M$249M (18)$8B (17)9%Kleiner Perkins 3, Eclipse 2, Sequoia Capital 2, Index Ventures 2, Ribbit Capital 1
Series E22$306M$168M–$538M$1.37B$250M (12)$8.93B (10)7%S32 1, Insight Partners 1, Lightspeed Venture Partners 1, General Catalyst 1, Founders Fund 1
Series F13$650M$400M–$1B$1.02B$500M (5)$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
Growth123$200M$115M–$468M$1.9B$188M (65)$8.41B (25)9%Nvidia 4, Sequoia Capital 4, Bessemer Venture Partners 3, Andreessen Horowitz 3, Dragoneer 2
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
AI125$40M$20.7B$15.8BSeries A 47 · Series B 37 · Growth 15
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 models7$20B$241B$230BSeries A 2 · Series H+ 1 · Series D 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
Biotechnology6$245M$1.84B—Series B 2 · Series E 1 · Series A 1

Month by month

MonthRoundsTotalSeries A medianSeries B medianSeries C median
Oct 2654$39.2B$20M$50M$200M
Sep 26142$30.1B$22M$44M$140M
Aug 2661$24.2B$107M$150M$143M
Jul 2667$36.2B$133M$162M$223M
Jun 2655$27.9B$200M$200M$275M
May 2639$90.2B$147M$147M$136M
Apr 2639$34.9B$113M$200M$121M
Mar 2645$16B$200M$150M$125M
Feb 2644$181B$205M$160M$200M
Jan 2645$33.9B$173M$150M$120M
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