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Insight VC explains the biggest mistake that keeps founders from raising a big round
Given how much money VCs are pouring into AI startups these days, it may seem like VCs have decided: If it’s not AI, they won’t write a big check. But
While startups entering their growth rounds (Series B and beyond) don’t necessarily need a CIO, they do need systems that show the details beyond recent customer acquisition and its cousin, annual recurring revenue — which has become something of a joke these days. That number came into vogue with the rise of SaaS, when startups would sign multi-year contracts with customers but could only recognize the revenue after it was billed — not allowing them to show their true growth. Where once a founder could walk away with a big check from just a good revenue growth chart and well articulated vision of the future, today, “If I can’t see it with my own eyes, it doesn’t exist,” Hinkle said.
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