Valuation step-ups in the private market continue to be one of the crucial indicators in evaluating the overall health of the venture landscape, especially as companies raise bigger and bigger rounds and strive to meet investor expectations. In 2Q, VC-backed companies in the US pulled in more than $25 billion for the sixth consecutive quarter, and many of those rounds came with lofty valuation gains.
Through the first half of the year, valuation growth has been strong in the US, according to our latest VC Valuations Report, with late-stage valuations reaching new heights. In addition, the median early-stage valuation step-up multiples (a comparison of a company's latest pre-money valuation to its previous round's post-money valuation) have been on the rise since 2016, and in 1H 2019, they surpassed 2.0x for the first time in at least a decade.
Here's a look at the VC-backed companies that have seen the biggest valuation jumps in 2019, including those with the largest valuation step-up multiples from one round to the next, as well as those that have seen the largest gains in their post-valuations. Data is sourced from the PitchBook Platform; click on the images below to see a larger version of the graphic.
Largest valuation jumps by step-up multiple
Largest post-money valuation gains
Some valuations are estimated. This post has been updated to remove two global companies from the tables.
Featured image via Unsplash
Want more data on valuation growth of VC-backed companies in the US? Check out our 1H 2019 VC Valuation Report.