Carta's data highlights the stark valuation disparities, with Series B deals ranging from $40 million to nearly $1 billion, and Series D deals from $27 million to $5.2 billion. AI companies like ElevenLabs and Cohere are at the high end, while non-AI startups struggle despite decent growth. Tribeca Ventures aims to assist mature startups with revenues over $20 million by pricing down rounds, as many valuations remain too high for the current market. Hirsch believes the market is still undergoing a correction that could take a couple more years to resolve.
Key takeaways:
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- IVP's Tom Loverro suggests that the post-pandemic downturn is over, urging companies to focus on growth rather than cost-cutting.
- Tribeca Venture Partners is investing in companies forced to raise capital at the same or lower valuations, with existing investors often needing third-party validation.
- AI companies are attracting high valuations, while non-AI startups face challenges in securing funding, with only 9% of Series A companies advancing to Series B within two years.
- Tribeca Ventures is helping mature startups with revenues over $20 million navigate down rounds, as the market continues to adjust to more realistic valuations.