PitchBook October 29, 2013
PitchBook’s VC Valuations & Trends Report is the new industry standard for venture capital intelligence. The report is derived from PitchBook’s robust database, which features more than 11,000 valuations for privately backed companies, as well as additional information on cap tables, deal terms, liquidation preferences and more. The report isn’t being released until tomorrow, but in the meantime, check out this sneak peek.
When it comes to venture capital (VC) data, tracking the size and number of new financings is well and good, but true insight can only be gleaned when you also know the valuation of the company. Over the last year, PitchBook has made a concerted effort to create the most comprehensive dataset of pre- and post-money valuations available. In total, PitchBook now has valuations for more than 11,000 VC rounds, including more than 2,900 valuations for transactions that closed since 2012. Aside from valuations, our research team has been collecting other invaluable information on cap tables and deal terms associated with VC financings, including details on liquidation preferences, anti-dilution provisions, dividends and much more.
The median pre-money valuation fell for financings at all stages in 3Q 2013, with the exceptions of Series Seed and Series C, which continued to climb to new record levels. Valuations across all stages have been trending higher for several years now, but the increase has been most pronounced in Series D or later rounds, where the median pre-money valuation has spiked from $52.9 million in 2009 to $114.0 million through the first three quarters of 2013.
The VC Valuations & Trends Report will be replacing the VC Rundown as PitchBook’s quarterly flagship report for the VC industry. In addition to detailed data on VC valuations, this report will also examine deal flow, exits and fundraising. Be sure to read the PitchBook Newsletter or visit PitchBook.com to download the full report tomorrow.