The difference is about the timing of the valuation. Pre-money valuation is the value of your company before you raise money. For example, when investors ask about your valuation during your pitch, they ask about your current pre-money valuation, aka how much you cost before receiving their money. The post-money valuation is your projected worth after you receive the most recent funding. It shows a company’s ability to scale and bring returns for investors and considers their share when calculated.