In 2018, a startup funding round of $100 million was dubbed the “Supergiant Round,” signaling a massive investment milestone. Fast forward to today, $100 million rounds are not only common but represent the median size of late-stage financing deals in the U.S. The landscape has shifted dramatically, with even larger rounds, like OpenAI’s record-breaking funding, pushing the boundaries.
The rise of these jumbo rounds is tied to the growth of startups like Uber and WeWork in the late 2010s, peaking during the 2021 bull market, and surging with the AI investment wave. This year alone, 250 rounds of $100 million or more have been funded, with half exceeding $200 million, and some reaching over $1 billion.
Alongside this, median late-stage round sizes have doubled since 2020, now averaging around $100 million. Valuations have similarly skyrocketed, with many startups valued at over $10 billion, and a couple eyeing IPOs valued near $1 trillion. Investors are clearly placing big bets with high expectations for returns as the startup funding environment continues to evolve.
