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The State of U.S. Early-Stage Venture and Startups: 2021

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The State of U.S. Early-Stage Venture and Startups: 2021

The best year ever for early-stage venture on AngelList.

Writer, AngelList

Matthew Speiser

Published

January 31, 2022

Of the startups that changed their price per share in 2021, 89% saw that share price increase.
Year-over-year, median pre-seed valuations rose 25%, seed-stage valuations rose 33%, and Series A valuations rose 47%.
Web3 startups captured the largest share of capital deployed on AngelList in 2021.
More funding went to female founders in 2021 than any year prior.
More than a quarter of deals that take place on AngelList are now happening at Series A rounds or later.
Read all our findings in our 2021 State of U.S. Early-Stage Venture & Startups report.

2021 was the best year ever for early-stage startups on AngelList. 89% of startups that had their share price change in 2021 saw that share price increase. That’s the highest annual markup rate ever observed in AngelList’s history (the previous high was 79% set in 2019).

Valuations at every stage of financing also had a record-setting year.

Unsurprisingly, spending activity of startups was way up in 2021, according to Silicon Valley Bank data. Despite a global pandemic, SVB’s findings indicate startup spend has doubled over the past two years.

This is a sampling of the findings from our 2021 State of U.S. Early-Stage Venture & Startups report. This report, made in collaboration with Silicon Valley Bank, provides detailed insight into how capital flowed into and out of startups in 2021—and what it means for 2022 and beyond.

Key topics in the report:

Markups
Rate of fundraising activity
Popular markets
Funding to female founders
Popular investment instruments
Investment volume by round
Overall startup spend
Payroll spend
Startup spend by vendor
Company formation by locale

The report also features predictions from leading VCs on what 2022 has in store for the startup ecosystem. Read the report now.

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Disclaimer

All data referenced in this material is current as of 1/1/22, unless otherwise mentioned. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision and does not constitute an offer of any kind. Past performance is not indicative of future results. The content speaks only as of the date indicated. We undertake no obligations to update them in the future. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Published:

January 31, 2022

Written by

Matthew Speiser

Writer, AngelList

Written by

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