The consistently strong venture financings market in 2018 resulted in the highest yearly median pre-money valuations and amounts raised for equity rounds since WSGR started tracking this data in 2010. The most dramatic increase was for Series B median pre-money valuations, which reached a high of $73.5 million in full-year 2018—twice the median pre-money valuation reported in full-year 2016 and well above the full-year 2017 median of $45.0 million. These strong pre-money valuations were accompanied by high median amounts raised across all equity rounds of financing in full-year 2018, with medians topping those of the prior four years. High pre-money valuations also boosted the percentage of up rounds to 84% of all Series B and later financings for full-year 2018.