This is one of the most important chapters in the book. To scale quickly, first locally and then globally, you will need cash. A lot of cash.
If you are selling B2B software, the procurement cycle can be extremely lengthy and then there is often a long wait to get paid. This means you will need to raise cash to fund your operating costs and finance company expansion.
The three typical funding rounds that lead up to a $10 million valuation are as follows:
• Angel investment—Often $50,000 to $100,000 early stage investment from a high net worth individual. Might be more. Unlikely to be less.
• Seed funding—From a professional Venture Capital (VC) firm and typically between $500,000 and $1 million.
• Series A ...