You are lucky.
Most VCs will be reluctant to keep investing at the same valuation. It’s called a “bridge”, and it’s something VCs really don’t want to do.
Why? They only want to double down on their winners. And usually, they want another VC to lead the next round at a higher price (2x+) to validate the winner.
Investing more money 12 months later at the same price? That’s not a winner. That’s a company that hasn’t made enough process to merit a step-up in valuation.
So you may feel like you are worth more today. Good. Go find another investor to prove it.
Your current investors likely don’t want to keep writing checks at the same price, either. They want someone else to step up and pay 5x to validate their investment.
