- Bay Area Times
- Posts
- U.S. startups face longest Series B closure times since 2012
U.S. startups face longest Series B closure times since 2012
Bay Area Times
August 20, 2024
Brought to you by:
Top stories today:
- U.S. startups face longest Series B closure times since 2012
- AI spending worldwide to hit $632B in 2028, with 29% CAGR
- Apple Podcasts gets web app
- Procreate, iPad design app, vows to never incorporate GenAI
- Bing only leads Google in Microsoft-owned IE, Edge
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. U.S. startups face longest Series B closure times since 2012
28 months’ median time between Series A & B funding.
1,600 (36%) secure Series B out of 4,400 startups raising Series A in 2020/21.
AI and other hot sectors are exception.
Elon's xAI closed $6B Series B in 6 months after last round.
2. AI spending worldwide to hit $632B in 2028, with 29% CAGR between 2024–28
Augmented claims processing will see fastest growth, followed by digital commerce:
GenAI will outpace overall AI market with 5-year CAGR of 59.2%.
$202B GenAI spending by 2028-end, marking 32% of overall AI spending.
Software will drive 50%+ of overall AI market.
Gain clarity and control to help connect your work to your business goals.
Collaborate easily, communicate clearly, and bridge silos across your organization.
Collaborate easily, communicate clearly, and bridge silos across your organization.
*Sponsored.
4. Apple Podcasts gets web app for listening to your favorite podcast online
Apple.