When a top-tier VC firm passes on series B but someone else invests, does it mean the company is likely dying and failing to meet critical milestones?

Of course not.

However, it probably does mean the company is not a “cookie cutter” success story, i.e.:

• Hot space
• Strong CEO and management team, ideally with right background
• At $8m-$10m+ ARR or more … growing 100%+ year over year
• Defensible technology / brand
• Leader in space, or potential to be leader

You need all these to raise a $10m-$50m Series B from a top, “traditional” Series B VC firm.

#3 in the space? Growing 70%, but not 110%? Weak management team? Overinvested space? Unpopular space? Good traction, but weak technology?

Don’t expect a Series B from a Traditional Top Series B VC.

It’s OK.

All money is green.

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