AngelList Data: Government-Serving Startups Valued Higher Than Average

The startup curator's data suggests government-focused startups might be worth a bit more than other kinds of businesses — at least in the early stages, before they receive investment money.

by / October 23, 2017
Data from Angel List

Government-focused startups might be worth more in their early days than the average startup.

That's according to data from AngelList, a curation website focused on early-stage startups and the investment activity surrounding them. The website collects information on investment deals, broken down by location, market and other factors. According to the website, the average government startup's pre-money valuation is $4.5 million, compared to an average of $4.2 million for all markets.

The comparison, which Government Technology is making using AngelList's data, is not exactly scientific. The data is limited to deals that have happened since 2010, and exclude any valuations below $10,000 or above $10 million. Further, categories like "government" and "predictive analytics" are presented as tags associated with certain companies. These tags aren't clearly defined, and because individual companies often have multiple tags, there will be overlap between many categories.

Nonetheless, the data presents a self-contained look at how much investors might value different kinds of companies.

After comparing government startups to the average, Government Technology went on to compare those numbers to nine other categories that are either niche focuses within government (such as law enforcement and K-12 education) or involve technology the public sector uses alongside commercial clients (such as enterprise resource planning and cloud infrastructure).

SMB: Small and medium business

CRM: Customer relationship management

ERP: Enterprise resource planning