Guide · Startup valuation
Startup valuation: how to value a startup in 2026
Startup valuation is the price founders and investors agree on for a share of the company at a funding round. At pre-seed and seed it is negotiated, not calculated: benchmarks for your stage and region, the size of the raise and the evidence behind the team set the range. This guide gives you the methods, the 2026 numbers, a free calculator and the terms you will hear.
QUICK ANSWER · REVIEWED 7 NOVEMBER 2026
A startup valuation is what a company is worth before (pre-money) or after (post-money) new money comes in. Post-money = pre-money + amount raised, and the investor’s ownership = investment ÷ post-money. Early-stage valuations are set by negotiation against benchmarks for your stage, sector and region, not by discounted cash flows.
Key numbers
$5.2M global median pre-seed valuation in the first half of 2026
Equidam, H1 2026 pre-seed data. US rounds price above the global median; Europe and emerging markets below it.
50,316 SAFEs and convertible notes worth $10.4B signed in 2025
Carta, State of Pre-Seed 2025. Most pre-seed money now arrives as a post-money SAFE with a valuation cap.
10–20% sold per early round, plus an option pool of about 10%
Rule of thumb from SeedScope’s valuation benchmarks. The pool is often created pre-money, which lowers the effective price.
Five ways to value an early-stage startup
1. Market-based (comparables)
Price the company against recent rounds of similar startups by stage, sector and region. This is how most pre-seed and seed rounds are actually priced. SeedScope’s valuation uses this approach, benchmarked against 1M+ companies.
2. Scorecard method
Start from the median pre-money valuation for your stage, then adjust it up or down for team, market size, product, competition, sales channels and the need for further funding.
3. Berkus method
For pre-revenue companies: assign up to a fixed amount to each of five risk-reducing factors, a sound idea, a prototype, a quality team, strategic relationships and early sales, and add them up.
4. Venture capital method
Work backwards from a plausible exit value and the investor’s required return to today’s post-money valuation, then subtract the round size to get the pre-money.
5. Discounted cash flow
Discounts projected cash flows to today. It fails for early-stage startups because the projections are guesses and the discount rate dominates the result. Use it as a sanity check, not as the price.
Free tools and guides
Run the numbers before you talk to investors
Every tool below is free, runs in the browser and stores nothing. Start with the calculator, check the range against the benchmarks, then model the SAFE stack and the option pool.
Do this
Benchmark the range for your stage and region before you name a number.
Size the raise from the milestone plan, not from what seems available.
Model the SAFE stack and the option pool; both move the real price.
Free tools
Most popular
Cap Table Simulator
Cap table calculator: who owns what after each round
Open the tool
Most popular
Raise Calculator
How much should you raise at pre-seed? Runway, dilution and post-money
Open the tool
Stacked SAFE Calculator
What do several SAFEs at different caps convert to?
Open the tool
Valuation Benchmark Lookup
Startup valuation benchmarks 2026: is my valuation normal for my stage and region?
Open the tool
Most popular
Valuation Calculator
Free startup valuation calculator: pre-money, post-money, SAFE and note conversion
Open the tool
Valuation Trap Simulator
Does a high valuation now hurt the next round?
Open the tool
Guides
The valuation terms you will hear
Each term links to a plain-English definition and the tool where you can see it in numbers.
Questions founders ask
How do you value a pre-revenue startup?
Against comparables: the median pre-money valuation for your stage and region, adjusted for team, early traction signals, market size and the amount you raise. The Berkus and scorecard methods formalise those adjustments. SeedScope’s free score benchmarks your startup against 1M+ companies.
What is a good pre-seed valuation in 2026?
Globally the median pre-seed valuation was about $5.2M in the first half of 2026 (Equidam). US rounds price higher than Europe and emerging markets, and a SAFE cap is usually set at or slightly above what a priced round would be.
How much equity do investors take at seed?
Typically 10–20% per round, plus an option pool of around 10% that investors often ask you to create before the money comes in. The cap table calculator shows the combined effect over three rounds.
Does a higher valuation always help?
No. A high valuation now raises the bar for the next round and increases the risk of a down round with anti-dilution consequences. The Valuation Trap Simulator shows the trade-off in numbers.
Know your number before the first meeting.
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