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Nothing in this article is wrong -- but raising that healthy Series A at the prototype stage requires a track record most of us don't have. Any first-time entr
by gyardley 16y ago
Nothing in this article is wrong -- but raising that healthy Series A at the prototype stage requires a track record most of us don't have.
Any first-time entrepreneur who reads this and decides to forego today's very-entrepreneur-friendly angel environment to try and raise a Series A instead is doing themselves a disservice.
- joshu 16y agoYou can raise a priced seed round with a lead investor without going to an A. You can raise a convertible note with a lead investor as well. The article is a BIT confusing.
- gyardley 16y agoYes, I think the "it's important to have a lead that'll help get the Series A done" advice got overshadowed by the "angel-backed companies don't raise enough cash" comment. Having a strong lead in my own (priced) seed round proved very, very, very helpful later on - but I still wasn't able to raise much more than $500K on the first go-round.
- joshu 16y agoI really think 500k is the bare minimum, and 750k is better. But it's very short with no runway... I see way too many startups raise 100-300k or whatever and simply die.