Startup valuation trends and secondary market insights

Recent data and research highlight a growing gap between historical funding valuations and current market realities for venture-backed startups. While companies often rely on valuations from their last funding round as a reference point, these figures may not reflect current economic conditions, competitor shifts, or public market changes.

Academic research suggests that secondary market transactions can provide more accurate insights into the actual value of private investments. This distinction is becoming increasingly critical as companies remain privately held for longer periods.

In the United States, median pre-money valuations for 2026 reached $18.3 million at the seed stage, $60.3 million at Series A, and $187 million at Series B. In the United Kingdom, median pre-money valuations for seed-stage companies were reported at £2.0 million during the first half of 2026.