This. It's fine to raise a seed round (< 1M) to experiment with some ideas, but raising money after that without product market fit is a recipe for failure. I

This. It's fine to raise a seed round (< 1M) to experiment with some ideas, but raising money after that without product market fit is a recipe for failure. If you don't have P/M fit and you raise a bigger round, you're going to hire people and create an organization around something that doesn't work. With those extra people and processes, things are going to slow down to the point where finding that P/M fit becomes much harder. Moreover, you are now accountable for expectations and a reasonable return for your investors, which is not a bad thing, but it is a distraction when it comes to P/M fit. For B2B businesses, raising a Series A means being able to hire your first sales/marketing people. For consumer businesses, raising a Series A means being able to pay for the growth that's happening without worrying about revenue right away.