Value a pre-revenue startup three ways — Berkus, scorecard and the VC method — and get a range to anchor your ask. The result updates as you type so you can compare scenarios quickly.
The method
Keep in mind
Use the calculator to compare scenarios rather than as a guaranteed forecast.
Value a pre-revenue startup three ways, with the Berkus method, the scorecard method and the venture capital method, and get a defensible range and mid-point to anchor your ask.
Berkus scores five risk areas up to a fixed value each. Scorecard adjusts the average local pre-money for the stage by your weighted score. The VC method discounts the expected exit at the investor's target return and subtracts the raise. The three results give a range.
Berkus scores of 4, 3, 4, 2 and 1 give £1.4m; a 115% scorecard on a £5m average gives £5.75m; an £80m exit in six years at 40% discounted gives about £9.6m pre-money. Anchor near £5.75m; raising £1m sells about 15%.
Put it to work
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What moves the result most
Worked out from your figures above. Tap a row to try it.
Who uses it, and when
Founders preparing to raise pre-revenue, angels sanity-checking an ask and accelerator staff coaching cohorts on valuation.
Mistakes worth avoiding
Questions
Value a pre-revenue startup three ways — Berkus, scorecard and the VC method — and get a range to anchor your ask.
Berkus scores five risk areas up to a fixed value each. Scorecard adjusts the average local pre-money for the stage by your weighted score. The VC method discounts the expected exit at the investor's target return and subtracts the raise. The three results give a range.
The core calculation or transformation runs in your browser. Normal website security and analytics may still record page-level events, but the tool does not need to create a public record from your inputs.
Presenting one method's number as fact. Using an out-of-date or foreign average for the scorecard baseline. Continuing to use these methods once you have revenue to apply multiples to.
No. Use the result as a practical check or planning aid and verify important decisions with the relevant primary source, provider or professional advice.
Executive Insights
Results are estimates based on the figures entered, for general information only, and not financial, investment, tax or legal advice. See our terms of use.
