Typical Series A round size for biotech startups in Bay Area
Based on 32 Form D filings by Bay Area biotech issuers at Series A stage, filed Nov 2024 – Oct 2026. Updated monthly. Change any segment to compare.
The numbers
- Median Series A raise: $18.8M
- Middle half of rounds: $10.2M – $40.7M
- Filings in sample: 32
- Rounds under $1M: 0%
- Rounds over $5M: 94%
- Updated Oct 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.