Qubit: Wing V21 Study 2022
If you are wondering what changed in the world of top startups in the last 12 years, these four charts from Wing Venture Capital’s V21 analysis will show you that:
They are twice as old,
Nearly all generate revenue, and
They raise significantly more capital.
Startups nowadays are sophisticated operations.
“‘Years Since Founding’ increased significantly for Series B’s in 2022 due to the pull back of Cannonball Effect financings, which often involved large financing amounts in relatively lower ARR companies. The median years since founding for Series B’s was 4.60 in 2022, up 16% from the previous year. Meanwhile, the median years since founding for Series A’s decreased to 2.45 in 2022 from 2.62 in 2021, and the median years since founding for Seed’s increased to 1.27 in 2022 from 1.08 in 2021.”
“The proportion of companies that are revenue-generating decreased for Seed’s, A’s, and B’s in 2022, albeit still at astonishingly high levels. 73% of companies raising Seed financings in 2022 were generating revenue, down from 77% in 2021. 91% of companies raising Series A financings in 2022 were generating revenues, down from 94% in 2021. And, 96% of companies raising Series B financings in 2022 were generating revenues, down from 99% in 2021.”
“The cumulative capital raised prior to a round continued to increase in 2022. V21 companies raising Seed financings had raised an average of $1.3M in 2022, up 39% from 2021. V21 companies raising Series A’s had raised an average of $5.1M in 2022, up 13% from 2021. And, V21 companies raising Series B’s had raised an average of $28.7M in 2022, up 6% from 2021.”
Source:
Wing VC - V21 Annual Study: The Year of Living Cautiously
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