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
What's the best board structure at Series A?
3 common + 1 preferred = 4 total
Hands-down the board structure every seed-stage CEO should aim for at Series A is a 4-person board with 3 common seats controlled by the actively-serving founders, and 1 controlled by the Series A lead. Almost always.
Monthly term sheet tips for founders within 12 months of Series A.