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Start-ups: What is the average series A funding round at pre revenue valuation for a enterprise start up w/cutting edge tech on verge of our first client.
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David Crow, I <3 emerging technology & new buying behaviours answered:

I'd agree with Jason. Early, aka pre-revenue, it is more a function of the venture math. Generally, it about how much capital does a startup need to prove a thesis. Over time this feels like $500k-$1MM at the seed stage. Using basic venture math from an institutional investor of 25% ownership in the company. That puts the company at $2-4MM pre-money valuation.

It changes post revenue, not post consulting revenue, it needs to be revenue that demonstrates a valid hypothesis about the Customer Acquisition Costs (CAC) or the Customer Lifetime Value (CLTV). Targeting $50k/month and the valuations starts to go up. But this looks like an Series round with a much higher valuation $8-12MM pre-money (maybe higher - depending on team, market and other factors).

The "enterprise" thing is less important. What I want to know is how well you know your potential customers, how full is the top of your funnel, what are the decisions that a buyer makes at each stage of the funnel, and how many prospects are at the different phases.

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