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Median funding round size by stage

Updated 23 Oct 2026

The median seed round was $2.1 million from October 2025 to September 2026. The median Series A was $14.4 million and the median Series B $25.7 million. Source: FundingWatcher, October 2026.

Value
$2.1 million
Unit
median seed round, October 2025 to September 2026
Data as of
23 October 2026
Source
FundingWatcher, October 2026
Median funding round by industry and stage, shaded within each stage, October 2025 to September 2026SeedSeries ASeries BSeries CArtificial intelligenceArtificial intelligence, Seed: $3.1M$3.1MArtificial intelligence, Series A: $18M$18MArtificial intelligence, Series B: $40M$40MArtificial intelligence, Series C: $100M$100MSoftwareSoftware, Seed: $2.5M$2.5MSoftware, Series A: $15M$15MSoftware, Series B: $32.5M$32.5MSoftware, Series C: $70M$70MHealth careHealth care, Seed: $2M$2MHealth care, Series A: $14.7M$14.7MHealth care, Series B: $26M$26MHealth care, Series C: $40M$40MFintechFintech, Seed: $2.7M$2.7MFintech, Series A: $14M$14MFintech, Series B: $30M$30MFintech, Series C: $50M$50MCommerceCommerce, Seed: $1.6M$1.6MCommerce, Series A: $10M$10MCommerce, Series B: $17M$17MCommerce, Series C: $35M$35MHardwareHardware, Seed: $3M$3MHardware, Series A: $14.8M$14.8MHardware, Series B: $25M$25MHardware, Series C: $52M$52MBiotechBiotech, Seed: $3.2M$3.2MBiotech, Series A: $20M$20MBiotech, Series B: $32M$32MBiotech, Series C: $44.9M$44.9MEducationEducation, Seed: $1.2M$1.2MEducation, Series A: $9.4M$9.4MEducation, Series B: n/aEducation, Series C: n/aCybersecurityCybersecurity, Seed: $3.2M$3.2MCybersecurity, Series A: $19M$19MCybersecurity, Series B: $31.7M$31.7MCybersecurity, Series C: $60M$60MEnergyEnergy, Seed: $2.5M$2.5MEnergy, Series A: $14.9M$14.9MEnergy, Series B: $24.7M$24.7MEnergy, Series C: $30.1M$30.1M
Figure 1. Median funding round by industry and stage, shaded within each stage, October 2025 to September 2026. Source: FundingWatcher. Data as of 23 October 2026.
Median funding round size by stage, October 2025 to September 2026Pre-seed$500KSeed$2.1MSeries A$14.4MSeries B$25.7MSeries C$50MSeries D+$94.8M
Figure 2. Median funding round size by stage, October 2025 to September 2026. Source: FundingWatcher. Data as of 23 October 2026.

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Stage

StageRoundsWith amount25th percentileMedian75th percentile
Pre-seed4,3583,197$174K$500K$1.2M
Seed10,1427,079$654K$2.1M$5M
Series A3,2862,523$7M$14.4M$25M
Series B1,3921,152$14M$25.7M$53.5M
Series C568502$20M$50M$100M
Series D+342320$35M$94.8M$220M

Table 1. Median funding round size by stage. Source: FundingWatcher. Data as of 23 October 2026. Base: 14,773.

Industry

IndustryMedian seedMedian Series AMedian Series B
Artificial intelligence$3.1M$18M$40M
Software$2.5M$15M$32.5M
Health care$2M$14.7M$26M
Fintech$2.7M$14M$30M
Commerce$1.6M$10M$17M
Hardware$3M$14.8M$25M
Biotech$3.2M$20M$32M
Education$1.2M$9.4M
Cybersecurity$3.2M$19M$31.7M
Energy$2.5M$14.9M$24.7M

Table 2. Median funding round size by stage, by industry. Source: FundingWatcher. Data as of 23 October 2026. Base: 14,773.

Previous values

MonthData as ofValue
October 202619 October 2026$2.1 million
September 202628 September 2026$2.2 million

Table 3. Median funding round size by stage, value at each monthly update. Source: FundingWatcher. Data as of 23 October 2026.

Method: Rounds dated October 2025 to September 2026, counted from the startup file of 23 October 2026. The file keeps each company's most recent pre-seed, seed, angel or Series A to J round only, so a company that raised twice in the window counts once. Medians use rounds with a disclosed amount; seed includes angel rounds. A cell is blank below 20 rounds. Full method.

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The median seed round was $2.1 million from October 2025 to September 2026. The median Series A was $14.4 million and the median Series B $25.7 million. Source: FundingWatcher, October 2026.
https://fundingwatcher.com/data/median-funding-round-size/
<a href="https://fundingwatcher.com/data/median-funding-round-size/"><img src="https://fundingwatcher.com/static/figures/median-funding-round-size.png" alt="The median seed round was $2.1 million from October 2025 to September 2026. The median Series A was $14.4 million and the median Series B $25.7 million." width="1200" style="max-width:100%;height:auto"></a>
<p>Source: <a href="https://fundingwatcher.com/data/median-funding-round-size/">FundingWatcher</a>, October 2026</p>

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