It's a false comparison. No companies in my round (W07) or before that I'm aware of got anywhere near as low as $1M valuations... For the $500-800k raised that

It's a false comparison. No companies in my round (W07) or before that I'm aware of got anywhere near as low as $1M valuations... For the $500-800k raised that is still popular, "OK" was a $2M pre valuation and "amazing" would have been $5M. The $10M valuations today for $500-800k (if there are any) are definitely in the "amazing" range, so it's somewhere around a 2x increase. That could definitely be explained by a more mature set of companies, or companies attacking larger problems.