> This summer, the wind started to turn. We witnessed stronger open-source traction, our revenue increased dramatically, and VCs became more insistent. It was time for us to open a new chapter for the company and raise a series A round.
Rhetorically, why was it time for this?
Practically, the answer is right there: the VCs wouldn't accept a mere rapidly-growing company with great tech. It's either an up round so they can mark up the value on their portfolio, or if the market isn't hot enough for a high-priced Series A, force an exit.
Rhetorically, why was it time for this?
Practically, the answer is right there: the VCs wouldn't accept a mere rapidly-growing company with great tech. It's either an up round so they can mark up the value on their portfolio, or if the market isn't hot enough for a high-priced Series A, force an exit.