To date, information and trends around the pre-seed round of investment have been mostly anecdotal and the process has been relatively opaque. But now for the first time, the DocSend Startup Index, a unique set of data on startups at different stages, is de-mystifying what it means to be a pre-seed startup.

The pre-seed round is now the gateway to becoming a venture-backed company. The expectations for startups fundraising in pre-seed rounds are shifting. And with shifting expectations come new rules of engagement for successful fundraising at the pre-seed stage.

A quick preview into our pre-seed findings