

It is no secret later-stage round sizes have expanded to recent mega-rounds. Now seed and Series A are following suit.
This much was observed in a study of second-quarter deal activity from Wilson Sonsini Goodrich & Rosati.
The law firm found seed and Series A financings reached record highs in the period as deal sizes across stages continued to climb.
The median amount raised in a Series A transaction rose to $8.3 million and the median pre-money valuation climbed to $25 million, also a record. This is up from a median deal size of $6 million in the first quarter and a median pre-money valuation of $17.5 million.
The study looked at deals handled by Wilson Sonsini attorneys during the period.
The median amount raised in a seed transaction during Q2 rose to $3 million and the median pre-money valuation climbed to $9.3 million. This is up from a median deal size of $1.6 million in Q1 and a median pre-money valuation of $7.3 million.
In a note of caution, the latest quarter also saw a noticeable decline in the percentage of up rounds. Sixty-eight percent of transactions examined were up rounds, compared with 81 percent in the first quarter, according to the study.