The Founders Complete Checklist for Series A Readiness

Series A is a major milestone. Here is how to know if you are ready and how to prepare.

Traction Metrics

Revenue Benchmarks

For most sectors:

• $500K-$1.5M ARR
• 15-20% month-over-month growth
• Clear path to $10M ARR

Usage Metrics

If pre-revenue:

• Strong user growth
• High engagement
• Retention data
• Viral mechanics

Customer Evidence

• Signed contracts
• Testimonials
• Case studies
• Net promoter score

Product Readiness

Product-Market Fit

• Customers actively using
• Pull vs push demand
• Organic growth
• Low churn

Technology Foundation

• Scalable architecture
• Technical debt managed
• Security basics
• Documentation

Team Completeness

Core Team

• Technical co-founder
• Business co-founder
• First key hires

Hiring Plan

• Clear org chart
• Key roles identified
• Compensation strategy
• Recruiting pipeline

Business Model Clarity

Unit Economics

• Know your CAC
• Know your LTV
• Positive unit economics or clear path
• Payback period

Market Understanding

• TAM, SAM, SOM
• Competitive landscape
• Differentiation clear
• Go-to-market proven

Financial Readiness

Books and Records

• Clean financials
• Monthly close process
• Audit-ready
• Proper systems

Cap Table

• Clean and organized
• All agreements signed
• Options properly granted
• Convertibles documented

Legal

• Corporate governance proper
• IP assigned
• Contracts in order
• Employment compliant

Fundraising Preparation

Materials

• Updated deck
• Financial model
• Data room
• One-pager

Story

• Clear narrative
• Vision articulated
• Milestones defined
• Ask is clear

Network

• Warm introductions
• Target investors identified
• Timeline planned

Red Flags That Kill Series A

• Flat growth
• High churn
• Founder conflict
• Cap table problems
• Legal issues
• No product-market fit

Use AngelBacked to find Series A investors when you are ready.