Series A FAQ
Insights from 200+ Series A financings
Prep
Term sheets
- Do revenue multiples drive Series A valuations?
- Why don’t founders have single-trigger acceleration?
- What's the best board structure at Series A?
- Will my vesting reset at Series A?
- It's not good for your company to be fireable at Series A
- How many seats do you really control?
- When to negotiate board structure
- How to negotiate board structure -- the magic words
- Steps to take now (before you raise)
Closing & beyond
Do revenue multiples drive Series A valuations?
Not really. Use this formula instead ...
Factors
- Does the investor want in?
- How much are you raising?
- How many competing lead offers?
Your valuation will by 3-6x of #2, depending on #3.
Monthly term sheet tips for founders within 12 months of Series A.