Typical Series A round size for biotech startups in the US
Based on 201 Form D filings by United States biotech issuers at Series A stage, filed Oct 2024 – Sep 2026. Updated monthly. Change any segment to compare.
The numbers
- Median Series A raise: $11M
- Middle half of rounds: $4.9M – $19.2M
- Filings in sample: 201
- Rounds under $1M: 6%
- Rounds over $5M: 73%
- Updated Sep 2026
Read this number carefully
Form D undercounts small SAFE rounds and rounds that rely on other exemptions. Treat the median as a ceiling for "typical", not a target.
Compare segments
Biotech · Series A · Boston ($10.8M)