How Much Revenue Does a Series a Need Now?

Immad Akhund says a reasonable Series A now takes the same 3x yearly growth and probably $3 million a year in revenue, unless the startup is on brand, on thesis, and hot.

A Series A used to get done with $1 million in revenue if the company was growing 3x a year. He treats that as the rough benchmark, and most of the time it was doable. The $1 million mark is no longer good enough. A company on brand, on thesis, and hot can have zero revenue and still get a Series A done. For a company outside that hot set, the growth rate stays at 3x, and the revenue he is seeing is probably $3 million a year before a reasonable Series A comes together. Raises still get finished, but they are much harder to get done than they used to be.