Rounds have shifted 2010 2019 Age of first institutional Seed 1y 2.5y Total Seed raised before Series A $1.3M $5.6M Series A size $5.1M $15.7M % Companies with revenue at A 15% 82% Source:Wing VC. Techcrunch. A quick look at how Series A and seed rounds have ballooned in recent years, fueled by top investors 7 LAUNCH 2019 Pear

Seed Financing Landscape - Page 7 Seed Financing Landscape Page 6 Page 8