VC valuations are big news these days, grabbing the attention of market optimists, bubble conspirators and everyone in between. Much of that talk has centered on the growth of the number of unicorns, almost neglecting the fact that valuations are up at every stage. In particular, Series B valuations have climbed each year since 2010, with the median growing from $18 million that year to $41 million in 1H 2015.

VCs are deploying a record amount of capital at the moment, taking advantage of a strong fundraising climate and slowing the decrease in stake percentages taken at each stage, even as valuations continue to rise. YTD, more than $10 billion in Series A capital has been invested globally, putting the year well on its way to a record.

In the datagraphic below, we compiled data from the PitchBook Platform that compares the median deal size and valuation of Series A and Series B rounds joined by 20 major VC firms so far in 2015. How might the future look for the early stage investments these firms have made?