PreSeed Fundraising Trends Q3 2023

John Mecke
4 min readOct 16, 2023

I consult with a lot of early-stage SaaS startups. Many are trying to raise a PreSeed round of VC funding, and most are struggling. VC fundraising has declined by over 50% since the heydays of 2021, and while preseed and seed stage deals have been hit just as hard as Series A, B, C & D. Some recent data from CBInsights, Pitchbook, and DocSend provide great qualitative and quantitative insights into what has changed in 2023.

Some Recent Data

There have been a few good recent reports that talk about the state of preseed and seed funding:

Overall VC Trends

As CBInsights pointed out, the number and value of VC deals in 2023 has fallen by half in comparison to 2022:

State of Venture Q3’23 Report

State of Venture Q3’23 Report

State of Venture Q3’23 Report

PreSeed Raise Trends

As Pitchbook pointed out, preseed deals and values have taken a major hit, but pre-money valuations have not been affected as much:

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John Mecke

John has over 25 years of experience in leading product management and corporate development organizations for enterprise firms.