Q3 2025 w/Carta: What you need to raise a Series A. | Peter Walker, Head of Insights at Carta

Episode notes

Carta's Peter Walker is back with the freshest data on what's actually happening at the early stage—and it's not what you're reading on X. While headlines scream about record-breaking rounds, the reality on the ground tells a different story. Seed deals are down. Time between rounds is stretching. And there's a brutal divide between the companies getting all the attention and everyone else. We dig into the exact valuations, graduation rates, team sizes and revenue you need for Seed and Series A... plus why the lowest-quartile seed rounds are failing at twice the rate. If you're raising or planning to raise, this is the episode.