Series A - Pre-Revenue Valuation
Hello all,
I’m working on putting together a valuation model for a pre-revenue business that will be conducting a series A raise. The company has provided revenue projections, COGS, operating expenses, etc.
My question is how complex should the model be? What do Series A investors really want to see? Is it best to just stick with unit economics and a simple operating budget / use of funds? Since it’s pre-revenue how receptive will investors be to a full projection model and lofty projections?
Any info helps. Thank you in advance.
People want to see how the unit economics will work over anything else.
That and ensure there's enough TAM to justify venture investment.
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