[pixelmonkey]

Matriculation/graduation rate from round to round seems pretty low (that is, new funding failure rate is high), based on this chart cited by pg:

https://twitter.com/paulg/status/781743196963540992

Tracked down the original post here:

https://mattermark.com/startup-graduation-rate-surprisingly-...

[hdubugras]

Great data here, thanks! Yes, part of the difficulty of this analysis is the low number of graduates makes it hard to see what's causal.