This excellent article by Ben Narasin of TriplePoint Capital summarizes how the bar has been raised for both Series A and Series B fundraising rounds for entrepreneurs even while valuations have increased significantly.
"Because they are seeing the top competitors after they’ve had time to distinguish themselves, Series A investors are basing decisions on actual results rather than perceived opportunity alone. Series A companies now have profiles like those historically seen in Series B, and specifically in the Series B companies that had proven enough to eliminate much of the leap of faith otherwise required."
Click here to read the full article: