Pre-Money vs Post-Money Calculator
Calculate pre-money vs post-money valuation, SAFE conversion, dilution at next round.
| Pre-money valuation | — |
| Round size | — |
| Post-money valuation | — |
| Investor stake | — |
| Per $1M dilution | — |
Pre-money + raise = post-money. The investor's stake = raise ÷ post-money. This simple identity drives all VC math — but founders often confuse pre and post in negotiations.
The Core Identity
Post-money = pre-money + new money. Investor % = new money ÷ post-money. Founder dilution = investor % × ESOP-adjusted pre-money stake.
Why It Matters in Negotiation
If you say 'we want a $20M valuation' VCs assume post-money (cheaper for them). To get $20M pre on a $5M raise, post-money becomes $25M and investor stake is 20%.
SAFE and Convertible Note Conversion
SAFEs and notes convert at next priced round. Pre-money safe converts at pre-money valuation. Post-money safe (YC standard since 2018) converts at post-money cap — guarantees investor minimum %.
Option Pool Calibration
Pool sized to fuel hiring through next round. Series A: pool to 10-15% post-money. Most VCs require top-up FROM pre-money — adjust pre-money down for the math to work.
Last updated May 2026. Sources: YC Post-Money SAFE, NVCA.