Assertion Contradicted AI assessment confidence: 90% certainty 3/5 debate potential 2/5

Lamont: Series B and C round sizes have tripled over five years

Annie Lamont · Annie Lamont – A Lifetime in Venture, Venture is Eating the Investment World 9 (Capital Allocators, EP. 238) · Mar 7, 2022 · at 43:18

Annie Lamont, co-founder of Oak HC/FT, explains why venture fund sizes expanded to match the growing check sizes required for Series B and C rounds.

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“Well, I think the industry solved it for us because the size of a Series B and C is three times what it was five years ago.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

As of early 2022, the average or median round size for Series B and Series C venture funding rounds was approximately three times what it was five years prior (around 2017).

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Historical venture capital data from PitchBook-NVCA and Crunchbase demonstrate that median and average Series B and Series C round sizes approximately doubled (growing between 1.7x and 2.0x, or at most 2.4x) between 2017 and 2021/early 2022, rather than tripling (3x). For Series B, U.S. median deal sizes increased from approximately $15.0–$16.9 million in 2017 to $30.0–$33.0 million in 2021 (~1.8x–1.9x). For Series C, median deal sizes increased from roughly $25.0–$30.0 million in 2017 to $50.0–$60.0 million in 2021 (~1.7x–2.0x). While aggregate capital invested in these rounds and median pre-money valuations did experience ~3x growth during this five-year window, per-round deal sizes fell substantially short of a 3x increase.

Crunchbase data indicates median U.S. Series B round size grew from $16.9M in 2017 to $32.0M in 2021 (an 89% or ~1.89x increase).
PitchBook-NVCA data shows U.S. median Series B deal sizes rose from $15.0–$18.0M in 2017 to $30.0–$33.0M in 2021 (~1.8x–2.0x), and Series C rose from $25.0–$35.0M to $50.0–$60.0M (~1.7x–2.0x).

Checked against

[1] crunchbase.com [2] paceventures.com [3] crunchbase.com [4] crunchbase.com [5] paceventures.com [6] saastr.com [7] substack.com [8] nvca.org

"US invested $16 billion in Series B deals compared to $55.9 billion in 2021" "Median Series C" "Crunchbase" "2017" "2021" Crunchbase median round size Series B Series C 2017 2021 "Median Series B" "Crunchbase" "2017" "2021" "Series B" median deal size 2017 2021 PitchBook NVCA "median Series B" "median Series C" 2017 2021 "PitchBook" "Series C" median deal size 2017 2021 PitchBook NVCA "PitchBook-NVCA Venture Monitor" "Series B" "median deal size" 2017 2021

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Series B Series C

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Lamont: Series B and C round sizes have tripled over five years

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