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February 22, 2021

VC shares 5 tips for startup founders who are ready to raise their Series A round

Your startup just hit $1 million in annual recurring revenue. You’ve got product market fit. Now you’re ready for more capital to supercharge that growth — it’s time to raise a Series A round.

But how should you pitch investors? What are they looking for? What do they care about? What will it take to land the funding needed to become a billion-dollar company?

Phil Boyer, partner at Crosslink Capital, answered these questions and more as part of an event hosted by Flying Fish Partners called Road to Series A, a new virtual event series put on by the Seattle venture capital firm. Boyer spoke with Lisa Nelson, the former managing director of Microsoft’s venture fund M12 who is now a venture partner at Flying Fish. (Editor’s note: Flying Fish is hosting the event series in partnership with GeekWire)

Boyer joined Bay Area-based Crosslink after stints with RBC Capital and Credit Suisse. He focuses on early-stage investments across B2B software themes such as process automation and DevOps, as described in a recent blog post

Here are tips from Boyer for founders that are looking to raise their Series A:

It’s about the team: Some founders assume that once they hit $1 million in ARR there’s a “magic thing that happens where you raise a Series A.” That’s not how it works, Boyer said. Read rest here