Startups Weekly: All these startups are raising big rounds

TechCrunch’s Connie Loizos published some interesting stats on seed and Series A financings this week, courtesy of data collected by Wing Venture Capital. In short, seed is the new Series A and Series A is the new Series B. Sure, we’ve been saying that for a while, but Wing has some clean data to back up those claims.
Years ago, a Series A round was roughly $5 million and a startup at that stage wasn’t expected to be generating revenue just yet, something typically expected upon raising a Series B. Now, those rounds have swelled to $15 million, according to deal data from the top 21 VC firms. And VCs are expecting the startups to be making money off their customers.
“Again, for the old gangsters of the industry, that’s a big shift from 2010, when just 15 percent of seed-stage companies that raised Series A rounds were already making some money,” Connie writes.
As for seed, in 2018, the average startup raised a total of $5.6 million prior to raising a Series A, up from $1.3 million in 2010.
Now on to IPO updates, then a closer look at all the companies raising big rounds. Want more TechCrunch newsletters? Sign up here. Contact me at or @KateClarkTweets.
Startups Weekly: All these startups are raising big rounds

IPO corner
Slack: The workplace communication software provider dropped its S-1 on Friday ahead of a direct listing. That’s when companies sell existing shares directly to the market, allowing them to skip the roadshow and minimize the astronomical fees typically associated with an initial public offering. Here’s the TLDR on financials: Slack reported revenues of $400.6 million in the fiscal year ending January 31, 2019, on losses of $138.9 million. That’s compared to a loss of $140.1 million on revenue of $220.5 million for the year before. Slack’s losses are shrinking (slowly), while its revenues expand (quickly). It’s not profitable yet, but is that surprising?

Zoom was the Slack we thought Slack was all along.
— alex (PVD) (@alex) April 26, 2019
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