Series A Founders Should Plan to Make Capital Last 1000 Days

If you're raising a Series A round, you should plan on making it last 1,000 days.

Not 18 months, not 2 years, but 1,000 days (2.7 years).

𝗢𝗹𝗱 𝗪𝗼𝗿𝗹𝗱

• Startups raised a primary Series A and then a Series B would follow 20-24 months later (for those that made it to the B at all).

• In 2021, the bubble frenzy feeling pushed those timelines down closer to 18 months from A to B.

• These timelines varied by industry but actually not that much (unless you're building a biotech company and then it's always taken longer).

𝗡𝗲𝘄 𝗪𝗼𝗿𝗹𝗱

• ZIRP ends in March 2022, interest rates spike, and startup funding falls.

• The time between an A round and B round extends...and extends...and extends. For companies that have raised a B so far in 2025, the median time since the A was 2.75 years.

• Is some of this change from the founders themselves, who have gotten their companies at or near profitability and are 𝗰𝗵𝗼𝗼𝘀𝗶𝗻𝗴 to forgo the Series B raise? Yes, I'm sure that's happening in spots.

• But the widespread extensions, the spikes in bridge rounds, the uniform time lengthening...this all points to many founders struggling to entice Series B VCs. Even some AI Series As are feeling the pressure.

So what's the prudent course as a founder?

Option A: Expect to make that Series A your final fundraise. Get to profitability, control your own destiny, etc. Likely this means letting go of the growth required to be interesting to VCs moving forward, and may involve tricky conversations with that A round funder as well.

Option B: Raise your Series A and make it bigger than you had anticipated to give yourself more runway to make it to B at whatever timeline is possible. Probably less hiring, probably less overall spending, lots of choices.

The world has shifted and startups (even ones with VCs already on the cap table) are playing many different games. Be sure to choose your game wisely!

#startups #SeriesA #SeriesB #timebetweenrounds #founders