Series A Preparation Checklist:Complete 2025 Guide
The definitive checklist covering 50+ critical action items to prepare your startup for successful Series A funding.
Series A Preparation Phases
A structured approach to preparing for Series A funding over 12-18 months
Foundation Building
6-12 months before fundraisingEstablish core business fundamentals and demonstrate product-market fit
Key Actions:
- Achieve $1M+ ARR with consistent growth
- Build complete leadership team
- Establish strong unit economics
- Document key processes and systems
Market Validation
4-6 months before fundraisingProve scalability and market opportunity with data
Key Actions:
- Demonstrate clear product-market fit
- Build customer testimonials and case studies
- Validate market size and expansion opportunities
- Establish competitive differentiation
Fundraising Preparation
2-4 months before fundraisingCreate compelling investor materials and strategy
Key Actions:
- Develop pitch deck and financial model
- Prepare data room and due diligence materials
- Create investor targeting strategy
- Practice pitch and Q&A scenarios
Active Fundraising
2-4 months durationExecute fundraising process and close the round
Key Actions:
- Begin investor outreach and meetings
- Manage due diligence process
- Negotiate term sheets and terms
- Close the funding round
Complete Series A Preparation Checklist
Comprehensive checklist organized by category with resources and timelines for each action item
Business Fundamentals
Critical PriorityAchieve $1M+ Annual Recurring Revenue
Minimum threshold for most Series A investors
Demonstrate 10%+ Monthly Growth Rate
Consistent month-over-month revenue growth
Establish Strong Unit Economics (LTV/CAC > 3:1)
Profitable customer acquisition model
Build 18+ Months Financial Runway
Sufficient cash to reach next milestone
Team & Organization
Critical PriorityComplete C-Level Leadership Team
CEO, CTO, and VP of Sales/Marketing in place
Team of 15+ Full-Time Employees
Sufficient team size to demonstrate scalability
Strong Advisory Board
Industry experts and successful entrepreneurs
Clean Cap Table Structure
Well-organized ownership with proper documentation
Market & Product
High PriorityClear Product-Market Fit Evidence
Customer testimonials, retention rates, and usage metrics
Customer Retention Rate >90%
Strong customer satisfaction and stickiness
Competitive Analysis & Differentiation
Clear understanding of competitive landscape
Market Size Validation ($1B+ TAM)
Large addressable market with growth potential
Investor Materials
Critical PriorityCompelling Pitch Deck (10-15 slides)
Clear story covering problem, solution, market, and traction
Financial Model & Projections
3-year financial forecasts with key assumptions
Data Room Preparation
Organized documentation for due diligence
Executive Summary & Teaser
1-2 page overview for initial investor outreach
Common Series A Preparation Mistakes
Avoid these frequent pitfalls that can derail your fundraising efforts
Starting Fundraising Too Early
Consequence:
Rejection from investors, damaged reputation
Solution:
Wait until you have strong traction metrics (>$1M ARR, >10% growth)
Weak Financial Projections
Consequence:
Lack of credibility with sophisticated investors
Solution:
Create detailed, assumption-based models with realistic scenarios
Incomplete Team
Consequence:
Investors question ability to scale
Solution:
Recruit key executives before fundraising begins
Poor Market Validation
Consequence:
Concerns about scalability and market opportunity
Solution:
Gather strong customer testimonials and usage data
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