Mixed
A mixed round — some signals are off the norm.
Round size vs peers
Far above the typical Series B round (12.5× the median) — an outlier.
Syndicate size
2 investors on the cap table.
Insider conviction
All-new money — no prior investors re-upped.
Investor track record
Mostly newer or unproven managers.
Heuristic read of round size vs peers, syndicate size, insider conviction, and investor track record. Not investment advice.
vs. Series B rounds (996)
Round size distribution99th pct
smaller Series B roundslarger
Post-money valuation95th pct
$35Mthis round: $3B$2.6B
