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In funding your company your network only goes so far. When it runs out, where do you go?
If your business has developed some key performance indicators, you may consider opting for a Series A fundraise. For any startups not requiring FDA, you will need the following:
- A product with revenue: preferably, this revenue should be above $500K/year.
- A growth plan: this plan should be designed to reach $10M annual revenue.
- A strong team: for the best results, make sure the team has a growth company experience.
- A credible funding plan: make sure the funding plan aims to maintain growth with reasonable burn rates.
- Updated financial pro forma: this should show the growth plan and use of funds.
- Pitch deck: it’s essential that you have a pitch deck showing your growth plan.
Keep in mind that if you are aiming for a target valuation, you may have to raise a Seed+ round of $500K to position the company with the proper KPIs and growth rates before pursuing the Series A fundraise.
Read more: https://tencapital.group/company-landing/
Hall T. Martin is the founder and CEO of the TEN Capital Network.TEN Capital has been connecting startups with investors for over ten years. You can connect with Hall about fundraising, business growth, and emerging technologies via LinkedIn or email: [email protected]