Rounds & fundraising
What is Series A?
The first priced equity round - typically $5M-$20M - to scale a validated business model toward repeatable growth.
Series A is the first major priced round, named for the series of preferred stock it creates. Modern Series A rounds run $5M-$20M at $20M-$80M pre-money valuations. Investors are dedicated venture funds with at least $50M+ AUM. By Series A, the company should have repeatable revenue, a defensible product, and a clear path to $10M+ ARR. Series A converts outstanding SAFEs/notes from the seed era and resets the cap table around a new investor class.