Investor Funnels for Series As
by Aaron Harris5/29/2019
Our third batch of the YC Series A Program is wrapping up and the companies arekicking off fundraising. As we gear up for those raises, we wanted to share somethings we’ve learned.First, an update on Series As at YC.In the last year, YC companies raised over $1.1B across 111 Series As. Thatincludes two Series A batches. Our first batch included 12 companies, 11 ofwhich have either raised their As or are in post-term sheet diligence.
A Guide to Preemptive Funding Offers
by Aaron Harris2/7/2019
Funding rounds happen in one of two ways. Either a founder asks for money andgets it, or an investor offers money and the founder accepts it. This may seemsimple, but the dynamics are complicated.I’ve written about how founders should fundraise. However, inrunning YC’s Series A Program, I’ve noticed how many companies raise moneywithout any process at all.
A Standard and Clean Series A Term Sheet
by Jason Kwon1/28/2019
While working with companies in YC’s Series A program, we’ve noticed a commonproblem: founders don’t know what “good” looks like in a term sheet. This makessense, because it is often, literally, the first time in their careers thatthey’ve seen one. This puts founders at a significant disadvantage because VCssee term sheets all the time and know what to expect.
Things We’ve Learned About Series As
by Aaron Harris1/25/2019
One year ago, we announced the Series A program (YCA) to bring moretransparency and consistency to fundraising. Six months ago, we announced thefirst Series A Batch. Here’s how ithas been going, and a bit of what we learned.In the last year, YC companies raised over $945mm across 95 Series As.
YC Series A Program Investor Access
by Aaron Harris1/16/2019
Our second YCA batch is now in session. These companies are about to startfundraising and we want to give more investors the chance to invest in YCcompanies. We’ll be doing that through a new portal we built. We will only beextending invitations to a limited group of Series A investors.These invitations will go out on 1/23.If you’d like access to that system, or to be considered for it in the future, please apply here[https://docs.google.
Introducing YC Series A Batches
by Aaron Harris6/4/2018
We launched a Series A program 6 months ago, but we startedprototyping the program 6 months before that with a few companies. In that year,we’ve learned a huge amount about what works and what doesn’t work when raisingan A. I’ve written about some of those learnings on the YC blog.1We’re now ready to launch the next phase of the program: working with companiesthat are ready for a Series A in batches, just like regular YC.
When to Raise a Series A
by Aaron Harris5/22/2018
One of the hardest questions to answer when considering an A is “when is mycompany ready?” This is another one of those questions for which there arehundreds of answers on the internet, none of which are particularly satisfying.The reason these answers don’t work is that each rule has so many exceptions asto make the rule seem silly.Founders often want clean and concrete answers as to when they’re ready toraise. This is why the idea that VCs filter exclusively on metrics isattractive.