Series A funding refers to a company's first major round of venture capital finance. It includes an investment made in a private company after it has made some progress in building its business model and showed its potential to grow and generate profit. Series A funding sells the idea of venture capitalists and bankers investing in a company that has proven business concepts or ideas and a plan that promises to yield profit alongside an organized and capable team. It is the second phase of financing for startups. Series A funding is usually targeted at ensuring the continuous growth of a company. It is estimated that 1 in 3 startups that can go past the seed round will need to raise series A.

How it works

After establishing a business, most businesses still need money to expand, grow and go beyond where it currently is. Business owners can get such funds by sourcing for investors and providing them with necessary information about the business and its growth prospects. The funds are primarily to be used for expansion purposes such as hiring additional employees, expansion of office space/work site etc. Potential investors do their part by reviewing the business model and projections on the ground before deciding to invest or not.

How to raise series A funding.

• Find venture capital investors: a venture capitalist may get tens or even hundreds of ideas monthly, this simply means that the cards are already stacked against you, and that is your reality. Do your research on venture capital firms that focus on your kind of business. Once you have picked a firm, send a copy of your plan to the firm. You can send out your entire business plan, but a cover letter and executive summary would do just fine. Here are 5 places you can find venture capitalists. https://www.growthink.com/content/how-find-venture-capitalist-5-best-places

• Write an excellent pitch: plan what is known as the "elevator pitch". That is a pitch that can be delivered within the 30-45 seconds that you might get to share an elevator with a potential venture capitalist, where after the ride, you may be brushed off politely or invited into his office to know more about your business. In essence, plan your pitch ahead of time as it would help to articulate your thoughts. Follow the tips in this article to prepare your pitch. https ://smartsmssolutions.com/blog/120-sms-marketing/personal-development/1763-how-to-write-a-great,-unique,-and-selling-value-proposition

• Get the attention of a potential venture capitalist investor: this rests on your executive summary. Your executive summary should be concise and clear. Investors should have a good understanding of what your business is after reading your executive summary.

• Prepare your letter of introduction: this should state how much you are trying to raise and what the funds would be used for. You must prepare the letter of introduction because at this point you should be expecting the venture capitalist to call and ask for further discussions.

• Get a chief financial officer (CFO): investors want to see that whatever money they give out would be used prudently. It is wise to include this in your business plan. You should at this point also be able to get your team members together as investors would likely want to meet them and be assured of their abilities.

A careful follow-through of the steps mentioned in this article puts you in line for series A funding. After having gotten the funds you requested, be sure to spend them on things that could generate revenue for you. To do this you would need to develop a sales plan. Here's how to build an excellent sales plan. https://smartsmssolutions.com/blog/122-sms-marketing/sales-and-marketing/1801-how-to-write-an-effective-sales-plan

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