Gurley identifies an angel glut a year ago with companies raising $5 million in seed unable to get Series A.
“In fact, starting about a year ago I think there was probably what you might call an angel glut of companies who had maybe raised one, two, we've seen companies with $5,000,000 of convertible seed money. That's a lot of seed money who can't raise series A.”
Gurley observes an angel glut beginning a year ago, with some companies raising $5 million in seed money.
“In fact, starting about a year ago I think there was probably what you might call an angel glut of companies who had maybe raised one, two, we've seen companies with $5,000,000 of convertible seed money.”
Gurley cites AI company jumping from $100K seed valuation to $300M Series A with $10M raised.
“I heard just this week about a company that did a seed at a 100 pre and is doing their a for 10,000,000 at 300 pre.”