Series A

The round that funds scaling a business model that already works.

Example

$8M to grow a proven sales motion from 20 to 200 customers.

Important

A Series A investor is buying evidence of repeatability, not potential. If you cannot explain how a dollar in produces more than a dollar out, it is early.

Related terms

• Seed round — The round that funds finding product-market fit and the first repeatable go-to-market.
• Product-market fit (PMF) — The point at which you have built something a specific group of people genuinely want, evidenced by their behaviour rather than their compliments.
• Unit economics — The profit or loss on a single customer, once you strip out fixed costs.

Lessons that explain it

• The funding stages, in order — Friends and family, angels, accelerators, pre-seed, seed, Series A and beyond — what each expects and what each is for. (12 min)

All 176 terms in the Founder glossary