These days it's pretty standard for seed to be the second, third, or even fourth round. E.g. this scenario is entirely plausible: 1) Friends and family 2) Ac

These days it's pretty standard for seed to be the second, third, or even fourth round. E.g. this scenario is entirely plausible: 1) Friends and family 2) Accelerator 3) Some combination of pre-seed / angel (depending on whether it's individual or institutional money) 4) Seed Seed is basically just the new A.