The new fund announcements keep rolling in: Scale Venture Partners, an enterprise-focused firm based in the Bay Area, has closed $335M for its fifth fund, up from the $300M fund IV it closed in May 2013. Scale counts 24 exits in the past ten years, according to CrunchBase, including Box, BrightRoll, and HubSpot.
And so do the unicorns: ForeScout, a security company that helps firms detect unknown devices on their networks, announced a $76M investment round this morning on a $1B valuation. Public market investor Wellington Management led the round, which may signal an IPO in the company's near future.
What's the one thing that helps most in raising a Series A round? Raising a big seed round, says Eric Ver Ploeg of Recursive Capital, who uses the CrunchBase dataset to analyze early-stage funding success. A startup with $150K in seed funding has a 1 in 25 chance of raising a Series A, he finds, while the likelihood of a company with $750K in seed closing a Series A is much greater (about 1 in 4).
Another piece of advice for startups seeking a Series A? Close it fast, says Redpoint's Tomasz Tunguz, if your inside investors are excited and you're still able to 'sell the dream' despite today's volatile fundraising market.
Looking for info on current, emerging and exited billion-dollar startups? Check out the detail-rich CrunchBase Unicorn Leaderboard.
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