It’s all over the board.
If you have either:
- A hint of traction (say $8k in MRR) and a good or great product in a good category;
- No traction but an amazing team in a good category;
- Or a lot of early traction (say $100k in MRR) but nothing special on product or market side …
Then you’ll find a lot of seed stage investors will at least have interest.
Those are three different types of risks that different types of investors like to take. The more you’ve proven on the team and market size, the less MRR you need.
Most important is a CEO on in any of these three micro-segments than the investors truly believe is able and committed to building something big.