Only 50% of startups make it from Seed to Series A, based on Carta’s data from 12,388 startups (2018–2023). The numbers show a clear trend: most startups that succeed in raising a Series A do so within 4 years. After that, graduation rates plateau.

The data also reveals a notable market shift: success rates declined following the market adjustment in Q3 2021, and it’s still uncertain when—or if—those earlier figures will return.