Series A


The Cost of Preemptive Deals

We looked at 120 US Series A rounds from our portfolio over the past 18 months to see whether or not preemptive offers were generally more or less dilutive than process driven rounds. On average, founders taking preemptive offers are taking ~1.4% more dilution for less money.

Investor Funnels for Series As

Our third batch of the YC Series A Program is wrapping up and the companies are kicking off fundraising. As we gear up for those raises, we wanted to share some things we’ve learned.

A Guide to Preemptive Funding Offers

Unprepared founders can get trapped by the dynamics of a preemptive offer and forced into suboptimal outcomes. If you find yourself in a situation where you think you are getting preempted, here’s what to do.

A Standard and Clean Series A Term Sheet

We wrote a standard Series A term sheet to create more transparency in the market.

Things We’ve Learned About Series As

One year ago, we announced the Series A program (YCA) to bring more transparency and consistency to fundraising. Six months ago, we announced the first Series A Batch. Here’s how it has been going, and a bit of what we learned.

YC Series A Program Investor Access

Our second YCA batch is now in session. These companies are about to start fundraising and we want to give more investors the chance to invest in YC companies. We’ll be doing that through a new portal we built. If you’d like access to that system, or to be considered for it in the future, please apply here.

Introducing YC Series A Batches

We launched a Series A program 6 months ago, but we started prototyping the program 6 months before that with a few companies. In that year, we’ve learned a huge amount about what works and what doesn’t work when raising an A. We’re now ready to launch the next phase of the program: working with companies that are ready for a Series A in batches, just like regular YC.

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