Priced round
A raise where you agree a valuation and issue shares at that price, as opposed to a note or SAFE.
It sets a clean per-share price and cap table, but takes more negotiation and legals than a SAFE.
Hear it from people who've done it
Get the real-world version of "Priced round" drawn from hundreds of conversations with founders and investors.
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SAFE
A simple instrument that converts into shares at your next priced round, usually with a cap and/or discount.
Pre-money / Post-money valuation
Pre-money is what the company is worth before the new money goes in; post-money is pre-money plus the raise.
Term sheet
A short, mostly non-binding document setting out the key terms of an investment before the long-form legals.
Series A, B, C…
Successive priced rounds named alphabetically — each one funds a new stage of scaling.
Lead investor
The investor who sets the terms and price of a round and usually takes the biggest cheque.
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