The fundraising stages are not about dollar values — they’re about risk

You’ve likely heard of pre-seed, seed, Series A, Series B and so on and so forth. These labels often aren’t super helpful because they aren’t clearly defined — we’ve seen very small Series A rounds and enormous pre-seed rounds. The defining characteristic of each round isn’t as much about how much money is changing hands as it is about how much risk is in the company.
On your startup’s journey, there are two dynamics at play at once. By deeply understanding them — and the connection between them — you’ll be able to make a lot more sense of your fundrai

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