Startup valuations in 2026
Pre-seed, seed and Series A valuations in the US and Europe, from Carta and PitchBook: a page for each stage, region and industry, and every table below. Updated every quarter.
- Data as of Q2 2026
- Updated 20 August 2026
- Sources: Carta and PitchBook
By stage, region and industry
United States
Europe
Every table
| Round | 25th percentile | Median | 75th percentile |
|---|---|---|---|
| US seed | $10M | $18.4M | $32.2M |
| US seed, AI-native | $11M | $18.6M | $32.3M |
| US Series A | $27.3M | $46M | $100M |
| US Series A, AI-native | $34M | $57.3M | $109.2M |
| Europe, pre-seed and seed | €2.4M | €4.8M | €9.5M |
| Europe, Series A and B | €23M | €47.8M | €120M |
US rows are Carta's Q1 2026 figures, its latest; US seed and Series A rows exclude AI-native companies unless marked. European rows are PitchBook's H1 2026 medians, with the quartiles estimated from them.
Sources: Carta, State of Private Markets: Q1 2026; PitchBook, Q2 2026 European VC Valuations Report
| Amount raised | 25th percentile | Median | 75th percentile |
|---|---|---|---|
| Under $250k | $5.3M | $10M | $15M |
| $250k–$500k | $7.2M | $12M | $18M |
| $500k–$1M | $8.8M | $12.5M | $23M |
| $1M–$2.5M | $12M | $18M | $30M |
| $2.5M and up | $23M | $35M | $58M |
Post-money valuation caps. The medians are Carta's for Q2 2026; the 25th and 75th percentiles are its figures for several quarters together, scaled to Q2 2026.
Sources: Carta, State of Pre-Seed: Q2 2026
| Sector | 25th percentile | Median | 75th percentile | 90th percentile |
|---|---|---|---|---|
| All companies | €2.4M | €4.8M | €9.5M | €19M |
| AI & ML | €2.6M | €5.2M | €10M | €21M |
| SaaS | €2.5M | €5M | €9.9M | €20M |
| Fintech | €3.3M | €6.6M | €13M | €27M |
| Healthtech | €2.4M | €4.8M | €9.5M | €19M |
PitchBook's medians; the 25th, 75th and 90th percentiles are estimated from the spread of its own chart.
Sources: PitchBook, Q2 2026 European VC Valuations Report
| Sector | 25th percentile | Median | 75th percentile | 90th percentile |
|---|---|---|---|---|
| All companies | €23M | €47.8M | €120M | €280M |
| AI & ML | €27M | €55.2M | €140M | €320M |
| SaaS | €29M | €59.5M | €150M | €340M |
| Fintech | €14M | €29M | €71M | €170M |
| Healthtech | €13M | €25.9M | €63M | €150M |
PitchBook's medians; the 25th, 75th and 90th percentiles are estimated from the spread of its own chart.
Sources: PitchBook, Q2 2026 European VC Valuations Report