The seed stage is bifurcating. AI is pulling capital into larger rounds and higher valuations, while the bar for non-AI founders keeps rising—and seed-stage acquisitions are becoming a bigger part of the venture landscape. Founders in the innovation economy are navigating a new set of questions: how big a seed round to raise, where to build and how soon an exit might come.
Our H2 2026 Startup Insights report breaks down benchmarks and market signals across the seed stage:
- $100 million-plus seed rounds tied an all-time record through Q3 2026—the mega-seed is officially a repeat phenomenon, not a 2021 anomaly
- AI attracted close to $15 billion in seed-stage investment—continuing to command a growing share of early-stage capital
- Seed is now an exit stage—one in four venture-backed acquisitions involved a seed-stage company, up from 16% in 2020
- Capital remains clustered on the coasts—California and New York account for roughly 60% of U.S. seed funding
- AI is reshaping seed round sizes—AI-enabled startups increasingly raise $5 million–$15 million, while non-AI rounds stay concentrated below $5 million
Contributors
Ashraf Hebela
Head of Startup Banking & Co-Head of Technology Banking, San Francisco Bay Area
JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/commercial-banking/legal-disclaimer for disclosures and disclaimers related to this content.
