Series A bar surges: median round up from $4.5M to $19.4M as lead VCs drop to ~50 a year

MartinGTobias · x · 2026-09-09

Per Jay Dimonte, Series A rounds grew from a $4.5M to $19.4M median over a decade, while the number of VCs able to lead them fell from 200 to 50 a year. A $3–5M-revenue company growing 3–5x YoY now loses out to either zero-revenue ambition or 10x+ growth — underscoring Martin Tobias's point that the Series A bar keeps going up.

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