Why it's hard to answer “when to raise a series A”
"The longer a company has been in business – or the less good a founder is at telling a story – the more concrete and certain the metrics of that business need to be. Part of the challenge companies that have raised too much seed money face is that the requirements they face for an A are significantly higher than for those who raise less. They generally wait longer for their As, so investors expect to see associated progress."<p>The tension that investors look at between time to executve and how much progress has been made is really interesting. Is the the time horizon (and thus expectation) very different for different industries? Is it relative to existing incumbents and competitors?