Series A Investors and Venture Capital Firms

Last update: December 22, 2024

Browse OpenVC's list of Series A investors and VC funds that help founders raise capital and scale their startups.

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Learn more about Series A funding

A Series A round is the first big step in raising venture capital to scale your startup. At this point, you’ve likely proven that your product or service works and there’s demand for it. Investors will be looking for signs of real traction, like steady growth, a solid business model, and a clear plan for scaling.

The money you raise in Series A is usually used to grow your team, fine-tune your operations, and grab a bigger share of your market. These rounds often involve venture capital firms and lay the groundwork for the next big growth stages.

Series A investors typically prioritize these measurable indicators:

• Revenue Growth: Demonstrating steady or rapid increases year-over-year. $100k+ in monthly revenue would be expected
• Customer Retention: High retention rates signal product-market fit.
• Unit Economics: Metrics like CAC (Customer Acquisition Cost) and LTV (Lifetime Value).
• Scalability: Evidence that your business can grow without proportional cost increases.
• Market Size: Validation of a significant total addressable market (TAM).

VCs investing in Series A's will expect detailed and defensible financials. Here are a few tips on how to prepare:

1. Show Historical Data: Provide accurate financial records, including revenue, expenses, and margins.
2. Project Growth: Develop realistic forecasts for revenue, user growth, and costs over the next 3-5 years.
3. Highlight Unit Economics: Emphasize metrics like CAC, LTV, and gross margins to show your business is scalable.
4. Stress Test Your Business Model: Be ready to answer tough questions about assumptions, risks, and paths to profitability.

Show investors that you’re ready to manage substantial growth. Know your numbers and paint a clear picture.

Series A valuations typically range from $10 million to $30 million, depending on aspects such as company maturity, market, and industry. Equity dilution at this stage is usually between 15% and 25%, depending on the size of the round and the valuation. Founders should balance raising enough capital to meet growth objectives with retaining sufficient equity for future rounds and incentives.

While it’s pretty rare, some startups bypass earlier funding rounds and secure Series A directly, usually if they’ve achieved significant traction through bootstrapping or revenue generation. However, skipping pre-seed and seed rounds often means a higher expectation for metrics like revenue, user growth, or partnerships. Most startups benefit from earlier funding rounds to establish proof of concept, build a product, and validate their market before seeking their Series A.

OpenVC startups have raised
$1+ billion from:

Sequoia, A16Z, Y Combinator, Antler, Accel, SOSV, Microsoft, Google, NASA & Kleiner Perkins.