The only way to know your true value is to get at least three independent valuations. If you can only get one, then that’s the best price for you. I find this to be true of any pricing dynamic.

In my experience VCs optimize for percent ownership and valuation uplift on subsequent rounds. So lower valuations allow them to get more per dollar invested and larger gains on subsequent rounds. The places to negotiate are pre vs post money valuation, deal closing costs, board seats, voting shares. Ultimately these matter a lot more than valuation which is just a vanity metric.