The sweet spot seems to be some time after series A (or, since there&#x27;s no precise definition, after the company has raised a $3-5 million round) - it&#x27;s good reasonable growth for venture backers to step in, there&#x27;s an appearance of professional management and planning for growth.<p>Joining a company after C round is likely to be a solid financial decision, but not significantly life-changing. Joining a unicorn who got to that valuation by taking a few late-stage financing rounds is almost a losing bet from math standpoint - that entity has so many ratchet conditions, side letters, and so much dilution you might just as well start distributing those shares on soft paper in 24-packs.