<p>The market for startups raising capital has changed dramatically over the past few years. Round sizes have ballooned: startups raise 50%+ more capital in Series As than a few years ago. The looming Series A crunch never occurred. Instead, we've seen the bifurcation of the Series B market. Series Bs are the spring of hope for some startups who raise megarounds and the winter of despair for others who must compete for increasingly scarce Series B dollars.</p>