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Pre-Seed Valuation Calculator
Pre-seed valuations are set by dilution, not formulas. Enter your raise and the ownership you will sell to see the valuation your round implies — then compare SAFE cap scenarios.
Implied post-money
$10.0M
Implied pre-money
$8.5M
Founders keep
85%
SAFE cap scenarios for a $1.5M raise
| Post-money cap | Investor ownership | Founders keep | Verdict |
|---|---|---|---|
| $6.0M | 25.0% | 75.0% | Heavy |
| $8.0M | 18.8% | 81.3% | Typical range |
| $12.0M | 12.5% | 87.5% | Typical range |
| $15.0M | 10.0% | 90.0% | Founder-friendly |
| $20.0M | 7.5% | 92.5% | Founder-friendly |
The 2026 pre-seed band is roughly $5M–$15M post-money. YC companies often price their first post-YC raise between $10M and $20M. Anything above 25% dilution on a single round should make you negotiate — either raise the cap or raise less.
How to calculate pre-seed valuation
There is no formula for pre-seed valuation. With no revenue and often no product, the number is set by negotiation over one variable: how much of the company you sell. Post-money valuation = raise ÷ dilution. A $1.5M raise for 15% is a $10M post-money and an $8.5M pre-money — the same round for 20% is a $7.5M post-money. The valuation is an output of the deal, not an input.
Pre-seed round dilution: what is normal
Typical pre-seed round dilution is 15–25%, including anything you set aside for options. Founders who sell more than 30% at pre-seed usually find the cap table is unfundable two rounds later: three rounds of 25% leaves you with under half the company before Series A even prices. If a lead pushes past the band, negotiate the cap up or shrink the raise — do not fix it by promising to "make it back" at the next round.
Using this as a SAFE cap calculator
On a post-money SAFE the valuation cap is the valuation. An investor's ownership is simply investment ÷ cap, so a $500K cheque on a $10M cap converts to 5%, no matter what happens between now and the priced round. Stacked SAFEs add up: three $500K SAFEs on a $10M cap is 15% gone before your Series A investor touches the table. Use the scenario table above to see what each cap hands over on your actual raise size, then read the SAFE guide before you agree to a number in a call.
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Next step
Your valuation lives on the SAFE cap
Pre-seed rounds are almost always post-money SAFEs now. Understand the cap before you name a number.
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How to use this tool
Step 1
Enter the raise
The total you plan to raise in this round.
Step 2
Set target dilution
10–20% is the typical pre-seed band; above 30% compounds badly over later rounds.
Step 3
Compare SAFE caps
Use the scenario table to see what ownership a range of caps hands to investors.
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FAQ
How do you calculate a pre-seed valuation?
Work backwards from dilution, not forwards from a formula. Post-money valuation = raise ÷ dilution. Raising $1.5M for 15% implies a $10M post-money and an $8.5M pre-money. On a post-money SAFE the cap is the valuation, so the same $1.5M on a $10M cap gives investors 15%.
What is a typical pre-seed valuation in 2026?
Most pre-seed rounds price between $5M and $15M post-money. YC companies often raise their post-YC round at the $10M–$20M range, while non-YC pre-seed rounds commonly land at $6M–$12M depending on team, traction and market.
How do investors value a pre-seed startup?
Rarely by formula. In practice they anchor on dilution: founders typically sell 10–20% per round. If you raise $1.5M for 15%, the post-money is $10M. Comparables — what similar teams raised at — matter more than any multiple of early revenue.
How is a post-money SAFE valuation set?
On a post-money SAFE the valuation cap is the agreed company value for conversion purposes. Investors compute their ownership as investment ÷ cap, so a $500K SAFE on a $10M cap buys 5%. That is why the cap effectively is your valuation until a priced round.
How much dilution is normal in a pre-seed round?
Roughly 15–25% at pre-seed, 15–20% at seed, and around 20% at Series A. Rounds above 30% dilution are a red flag for founders because they compound hard over three or four rounds.
Can I raise a pre-seed round with no revenue?
Yes — most pre-seed rounds close before meaningful revenue. Investors price the team, the insight and the speed of shipping. Without revenue your valuation is set almost entirely by comparables and by how much conviction the round has behind it.
Should I use a SAFE or a priced round at pre-seed?
Almost every pre-seed round in 2026 is on post-money SAFEs: they close in days, cost a few hundred dollars in legal fees, and defer the valuation debate. Priced rounds make more sense at seed and beyond.
What is the average pre-money valuation for a seed round?
Seed rounds in 2026 mostly price between $12M and $35M pre-money, with a median near $18M. Pre-seed sits well below that at roughly $5M–$15M post-money. Averages hide a wide spread — team pedigree, market and competitive heat move the number more than any metric.
Are pre-seed valuations publicly disclosed?
Usually not. SAFEs are private contracts and there is no filing requirement, so most pre-seed caps never appear anywhere. Fragments leak through Form D filings, press coverage and founder interviews, which is what comparables databases are built from.
Is this pre-seed valuation calculator free?
Yes. No signup, nothing stored — everything runs in your browser.
Keep reading
Deep dive
The YC SAFE, Explained →
Post-money SAFE mechanics, cap tables, and what founders actually sign.
Deep dive
The $500K YC Deal →
How the standard $125K + $375K SAFE actually works.
Fundraising
Post-Money SAFE Explained →
Cap math, dilution tables, MFN clauses and the four standard forms.
Database
List of YC Companies →
Searchable database of YC alumni by batch — Airbnb to Cursor.
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