VCs' Expectations for Healthy AR Multiples at Series a and B

So here in the slide we see the current expectations of VCs for healthy AR multiple at series A and series B. The bucket actually with the largest share of answers 40% is 25 to 30 X. And then roughly 30% are fine to go higher than that. For example 20% said they're fine to pay 30 to 35 X or see that as healthy which would be a 45 to 52 million pre money for a company that does 1.5 million in AR. If around is less competitive is there's no tier 1 term sheet then it's likely that you also end up at the lower range of the multiples.