Source: Dealroom.co
Venture capital · Live Dealroom data
The Global Startup Journey
What a round is worth at each stage, and how companies move between them — round-size distributions from Seed to Series D, and conversion rates by location and by sector, on Dealroom's standardised global dataset. The European deep-dive lives at Startup Journey in Europe.
01 · Round sizes
Round sizes by stage
Box = middle half of all rounds (25th to 75th percentile), bar = the median, dots = the most recent individual rounds. Log scale — a Seed round and a Series D differ by 50×.
02 · Location
Conversion by location
Yes — but less than which seed investor you take money from. The full heatmap below covers every region, country, metro and supercluster in the dataset. Filter by type or size quartile to compare like-for-like ecosystems, then click a row to pin it and surface the closest comparators.
Every location, ranked by funded companies
Click a row to pin it · the next four most-comparable locations (same type, same continent) will surface below it for side-by-side reading.
Type
Size · quartile of funded companies within type
Location
Type
Pre→Seed
Seed→A
A→B
B→C
Funded
Conversion rates are 36-month medians by qualified standardised stage, on Dealroom's full-history universe. Funded = companies that raised at least one round of $100K+. Only locations with ≥500 funded companies shown. Pull live ecosystem data in Dealroom →
03 · Sector
Conversion by sector
Some segments graduate ~50% better than the median. AI, Deep Tech, Enterprise Software, Generative AI and Cybersecurity sit at the top; Advertising, Media, Gaming, Virtual Reality at the bottom. Same standardised lens, all global cohorts. Click a row to pin it and see how similar sectors compare.
Every sector, ranked by funded companies
Click a row to pin it · the closest four sectors (same parent type) will surface below it for side-by-side reading.
Type
Size · quartile of funded companies within type
Sector
Type
Pre→Seed
Seed→A
A→B
B→C
Funded
Same conversion methodology. Sectors are global rollups across Dealroom's tagging taxonomy — industry is the top-line label, sub-industry is the dive, and the four other types are cross-cuts (technology, business model, income stream, SDG, tag). Drill down by sector in Dealroom →
Methodology. Round sizes: all VC rounds with a disclosed amount in the current and previous calendar year, standardised round labels, in USD. Percentiles are computed on the full population; the dots show the most recent ~200 rounds per stage. Conversion tables: 36-month medians by qualified standardised stage on Dealroom's full-history universe; a company counts as funded from its first $100K+ round.