# Sources

Every number on every chart, where it came from, and whether it's first-hand.

**primary** = published by CB Insights itself. **secondary** = a news site's summary of a CB Insights report (the full reports are behind a sign-up form).

## Cross-checks

- The BeBeez quarterly deal counts (8,499 + 8,046 + 6,913) add up to 23,458, exactly the 2026 year-to-date deal count on CB Insights' own chart.
- BeBeez's US figures give 59% of funding and 42% of deals, matching CB Insights' page.
- So the BeBeez summary checks out wherever it can be tested.

## p1_average_vs_median

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Average deal size 2025 | 23.0 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | Page itself says only 'average deal size more than doubled' |
| Average deal size 2026 YTD | 49.8 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Median deal size 2025 | 3.0 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Median deal size 2026 YTD | 3.4 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |

## p2_startup_survival

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Seed (2008-2010 US tech cohort, 1,100+ companies) | 100 | % | [CB Insights, Venture Capital Funnel (2018 edition)](https://cbinsights.com/blog/venture-capital-funnel-2) | primary |  |
| Raised a 2nd round | 48 | % | [CB Insights, Venture Capital Funnel (2018 edition)](https://cbinsights.com/blog/venture-capital-funnel-2) | primary |  |
| Raised a 3rd round | 30 | % | [CB Insights, Venture Capital Funnel (2018 edition)](https://cbinsights.com/blog/venture-capital-funnel-2) | primary | 63% of the 48% who raised a 2nd |
| Raised a 4th round | 15 | % | [CB Insights, Venture Capital Funnel (2018 edition)](https://cbinsights.com/blog/venture-capital-funnel-2) | primary |  |
| Reached $1B+ valuation | 1.07 | % | [CB Insights, Venture Capital Funnel (2018 edition)](https://cbinsights.com/blog/venture-capital-funnel-2) | primary | 12 companies |

## p3_ai_agent_roi

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Say AI agent adoption is a priority | 80 | % | [CB Insights, What's next for AI agent ROI (18 Feb 2026)](https://www.cbinsights.com/research/ai-agent-roi-markets/) | primary | Q4 2025 survey, 59 executives |
| Can't track AI agent ROI or don't know it | 40 | % | [CB Insights, What's next for AI agent ROI (18 Feb 2026)](https://www.cbinsights.com/research/ai-agent-roi-markets/) | primary |  |

## p4_startup_ma

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Startup M&A deals Q3 2026 | 2353 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| QoQ change in M&A | -22 | % | [CB Insights, State of Venture Q3'26 (report page)](https://www.cbinsights.com/research/report/state-of-venture-q326/) | primary | 'M&A activity hit a four-year low, down 22% QoQ' |
| Startup M&A deals Q2 2026 (derived) | 3017 | deals | [CB Insights, State of Venture Q3'26 (report page)](https://www.cbinsights.com/research/report/state-of-venture-q326/) | primary | Derived: 2,353 / 0.78 |

## p5_revenue_per_employee

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Mercor | 4.5 | $M revenue per employee | [CB Insights, AI agent startups top 20 by revenue (22 Jul 2025)](https://www.cbinsights.com/research/ai-agent-startups-top-20-revenue/) | primary | AI startup |
| Nvidia | 3.6 | $M revenue per employee | [CB Insights, AI agent startups top 20 by revenue (22 Jul 2025)](https://www.cbinsights.com/research/ai-agent-startups-top-20-revenue/) | primary | FY2025, benchmark quoted by CB Insights |
| Cursor | 3.2 | $M revenue per employee | [CB Insights, AI agent startups top 20 by revenue (22 Jul 2025)](https://www.cbinsights.com/research/ai-agent-startups-top-20-revenue/) | primary | AI startup |
| Meta | 2.2 | $M revenue per employee | [CB Insights, AI agent startups top 20 by revenue (22 Jul 2025)](https://www.cbinsights.com/research/ai-agent-startups-top-20-revenue/) | primary | FY2024, benchmark quoted by CB Insights |
| Microsoft | 1.8 | $M revenue per employee | [CB Insights, AI agent startups top 20 by revenue (22 Jul 2025)](https://www.cbinsights.com/research/ai-agent-startups-top-20-revenue/) | primary | FY2024, benchmark quoted by CB Insights |

## n01_money_vs_deals

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Funding 2022 | 520.2 | $B | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Funding 2023 | 329.3 | $B | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Funding 2024 | 354.7 | $B | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Funding 2025 | 484.1 | $B | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Funding 2026 projected | 931.0 | $B | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary | CB Insights projection on data to 30 Sep 2026 |
| Deals 2022 | 56353 | deals | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Deals 2023 | 44741 | deals | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Deals 2024 | 40949 | deals | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Deals 2025 | 37490 | deals | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary |  |
| Deals 2026 projected | 31277 | deals | [CB Insights, State of Venture Q3'26 headline chart (image on report page)](https://research-assets.cbinsights.com/2026/10/06103848/SoVenture-Q326-LPchart-v2B-973x1024.png) | primary | CB Insights projection |

## n02_region_deal_size

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| US funding Q3 2026 | 111.1 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | Cross-check: 111.1/187.2 = 59%, matches CB Insights' '59% of funding' |
| US deals Q3 2026 | 2882 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | Cross-check: 2,882/6,913 = 42%, matches '42% of deals' |
| Europe funding Q3 2026 | 31.5 | $B | [CB Insights, State of Venture Q3'26 (report page)](https://www.cbinsights.com/research/report/state-of-venture-q326/) | primary | Also in BeBeez |
| Europe deals Q3 2026 | 1439 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Asia funding Q3 2026 | 36.2 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Asia deals Q3 2026 | 2153 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |

## n03_ai_money_vs_deals

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| AI funding Q4 2025 | 72 | $B | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary | 'approximately US$72 billion' |
| AI funding Q1 2026 | 226 | $B | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary |  |
| AI deals Q4 2025 | 2076 | deals | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary |  |
| AI deals Q1 2026 | 1965 | deals | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary |  |

## n04_ai_us_share

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| US share of global AI funding Q1 2026 | 91 | % | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary | US$206B |
| US share of global AI deals Q1 2026 | 50 | % | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary | 980 deals |

## n05_ai_time_to_exit

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Avg years to exit: AI startups bought by Big Tech | 4.5 | years | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary | Q1 2026 |
| Avg years to exit: all AI M&A | 7.6 | years | [Fintech News Switzerland, summary of CB Insights State of AI Q1'26](https://fintechnews.ch/aifintech/ai-funding-surges-led-by-frontier-models/83347/) | secondary | Q1 2026 |

## n06_agent_kpis

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Productivity gains | 63 | % | [CB Insights, What's next for AI agent ROI (18 Feb 2026)](https://www.cbinsights.com/research/ai-agent-roi-markets/) | primary | Share of executives using this KPI for AI agents |
| Cost savings | 58 | % | [CB Insights, What's next for AI agent ROI (18 Feb 2026)](https://www.cbinsights.com/research/ai-agent-roi-markets/) | primary |  |
| Time saved | 58 | % | [CB Insights, What's next for AI agent ROI (18 Feb 2026)](https://www.cbinsights.com/research/ai-agent-roi-markets/) | primary |  |
| Revenue impact | 25 | % | [CB Insights, What's next for AI agent ROI (18 Feb 2026)](https://www.cbinsights.com/research/ai-agent-roi-markets/) | primary |  |

## n07_agent_multiples

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Customer service AI agents: avg revenue multiple | 127 | x | [CB Insights, AI agent startups top 20 by revenue (22 Jul 2025)](https://www.cbinsights.com/research/ai-agent-startups-top-20-revenue/) | primary |  |
| Top 20 AI agent startups: avg revenue multiple | 52 | x | [CB Insights, AI agent startups top 20 by revenue (22 Jul 2025)](https://www.cbinsights.com/research/ai-agent-startups-top-20-revenue/) | primary |  |

## n08_ai_mega_concentration

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Share of AI funding in mega-rounds Q2 2026 | 89 | % | [CB Insights, State of AI Q2'26 (report page)](https://www.cbinsights.com/research/report/ai-trends-q2-2026/) | primary | '89% of AI funding went to just 142 mega-rounds' |
| Mega-rounds Q2 2026 | 142 | rounds | [CB Insights, State of AI Q2'26 (report page)](https://www.cbinsights.com/research/report/ai-trends-q2-2026/) | primary |  |
| New AI unicorns Q2 2026 | 37 | companies | [CB Insights, State of AI Q2'26 (report page)](https://www.cbinsights.com/research/report/ai-trends-q2-2026/) | primary | Most since Q2 2022 |

## x01_ai_vs_rest_by_quarter

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Total funding Q1 2026 | 291.5 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | Derived: $698.3B YTD minus Q2 ($219.6B) and Q3 ($187.2B) |
| Total funding Q2 2026 | 219.6 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Total funding Q3 2026 | 187.2 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| AI funding Q1 2026 | 239.1 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | From the State of Venture Q3'26 report. State of AI Q1'26 gave $226B (chart 08); reports are revised |
| AI funding Q2 2026 | 153.1 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| AI funding Q3 2026 | 103.3 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | Report: 55% of total funding |

## x02_ai_average_vs_median

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| All deals average 2025 | 23.0 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| All deals average 2026 YTD | 49.8 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| All deals median 2025 | 3.0 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| All deals median 2026 YTD | 3.4 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| AI deals average 2025 | 31.7 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| AI deals average 2026 YTD | 91.3 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| AI deals median 2025 | 3.5 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| AI deals median 2026 YTD | 4.7 | $M | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |

## x03_region_shares

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| US funding Q3 2026 | 111.1 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | 59%, matches CB Insights page |
| Europe funding Q3 2026 | 31.5 | $B | [CB Insights, State of Venture Q3'26 (report page)](https://www.cbinsights.com/research/report/state-of-venture-q326/) | primary | 'Europe's $31.5B quarter is its strongest since 2022' |
| Asia funding Q3 2026 | 36.2 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Total funding Q3 2026 | 187.2 | $B | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | Rest of world = total minus the three |
| US deals Q3 2026 | 2882 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary | 42%, matches CB Insights page |
| Europe deals Q3 2026 | 1439 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Asia deals Q3 2026 | 2153 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| Total deals Q3 2026 | 6913 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |

## x04_exits_mix

| Label | Value | Unit | Source | Type | Note |
|---|---|---|---|---|---|
| Startup M&A deals Q3 2026 | 2353 | deals | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| IPOs Q3 2026 | 142 | IPOs | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |
| SPAC mergers Q3 2026 | 8 | SPACs | [BeBeez, summary of CB Insights Q3'26 report (12 Oct 2026)](https://bebeez.eu/2026/10/12/global-venture-capital-firms-pour-698-billion-us-dollars-in-startups-at-the-end-of-3q26-cb-insights/) | secondary |  |