Seed Funding Trends in 2025
Crunchbase data indicates that among US seed funding deals, only the upper bands of larger rounds—those $10 million and above—grew in 2025, while deal counts and amounts for rounds from $200,000 to under $5 million dropped roughly 20% year over year. The mid-tier band, from $5 million to under $10 million, remained on par year over year, according to Crunchbase News. In 2025, US seed funding totaled $19.4 billion, with large deals driving the increase as seed deals of $10 million and over accounted for 51% of the total, compared to a third in 2024.
Shifts in Seed Deal Counts
The majority of seed-stage deal counts still occur for rounds of $5 million and under, but that percentage has decreased from 93% in 2018 to 75% in 2025. Larger and outlier seed rounds of $10 million and above have increased from 2% to 9% over the same period, meaning roughly 1 in 10 seed deals over $200,000 in 2025 were in the $10 million and over category, numbering around 360. Between 2018 and 2025, seed rounds of $200,000 to $5 million fell from 70% of all seed funding amounts to 26%, while seed rounds of $5 million and above have gained ground since 2021.
Growth in Larger Seed Rounds
In 2025, the biggest jump in seed funding amounts came from outlier rounds—those $50 million and above—which increased more than 300%, and even larger seed rounds of $10 million to $50 million gained 20%. The largest seed round in 2025 was $2 billion for Thinking Machines Lab, and larger seed rounds increased overall with more than 20 deals of $50 million-plus and over 300 in the $10 million to $50 million range, according to Crunchbase News. AI is reshaping seed investment, with multistage venture and mid-tier funds backing companies earlier due to founder pedigree or traction.
Strategic Adjustments by Funds
Seed fund managers are shifting strategies in response to the changing market, as seen with Moxxie Ventures, which has allocated 60% to 70% of its capital for primary investments compared to 50% in prior funds to have more shots on goal. The fund is also engaging with founders earlier, often before product-market fit is achieved. This reflects a bifurcated market where only AI elite teams raising fast are securing large capital at Series A, while Crunchbase data shows seed funding has not stalled but is evolving, according to Crunchbase News.
