Series A(ggregate)

We spend a lot of time around here covering the latest startup fundraises, and for good reason. While capital is certainly an input and not an output, there is nothing quite like the closing of a round of several million in venture capital to prove that yes, the startup I’m working on is at least interesting to someone other than me. External validation shouldn’t be your motivating principle, but it is motivating. Plus, it’s a great milestone to reach out to the press and start talking up the story.

And so week after week, we cover the latest rounds. This company raised $4.5 million in a seed round, and this company raised $16 million in a series A. These stories — and the narratives behind them — are crisp, clean, and precise. A proverbial founder walked up and down South Park in SoMa, explained their story, collected a couple of term sheets, picked one, locked in the due diligence, and is now announcing their round. The VCs are excited, the founder(s) are excited, the employees are excited (and sometimes even the customers are excited!)

The reality for founders though is far more messy and gritty than those headlines would indicate.

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