How much should you raise? See real benchmarks from 38,000+ SEC-verified VC fund filings. Select your industry, stage, and location.
Our benchmarks are derived from SEC EDGAR Form D filings. Every VC fund that raises money in the US must file a Form D with the SEC, reporting the total offering amount. We analyze 38,000+ verified filings to calculate medians, percentiles, and distributions.
Based on SEC data, the median seed round in 2024-2025 is between $1M and $3M. However, this varies significantly by industry and location. AI/ML startups tend to raise 2-3x the median, while consumer startups may raise less.
The median is a reference point, not a target. Raise enough for 18-24 months of runway to hit your next milestone. Over-raising causes unnecessary dilution; under-raising forces you to fundraise again too soon.
Yes, significantly. Startups in California and New York typically raise larger rounds due to higher concentration of VC capital. However, remote-friendly investing has narrowed this gap since 2020.