From 2009 to the end of 2013, the amount of venture capital invested through seed rounds in the U.S. each year has increased by over 550%, according to PitchBook's database. During that timeframe, the median post valuation of companies raising seed funds has also skyrocketed, soaring from $3.8 million in 2009 to $6.5 million in 2013. As valuations and capital invested at the seed stage have quickly climbed each year, so too has seed deal count; the number of seed rounds completed from 2009 through 2013 quintupled from 284 to 1,408.
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There is no doubt that the structure and role of seed investments have changed—what was once a round reserved for friends, family and micro-VCs has attracted the participation of even the biggest venture investors; and seed deals now account for a bigger portion of the venture capital pie than maybe ever before. But among these drastic changes, the median deal size of seed rounds in the U.S. has actually remained remarkably consistent from year to year. In fact, during the same five-year stretch, the median size of seed rounds stayed between $500,000 and $700,000.