Round Planner
Calculate how much to raise, see dilution impact, find the right investors, and understand term sheet terms before you sign.
Early stage, personal networks
Best for: Pre-seed, bridge rounds
Pre-seed / Seed
Best for: Early product-market fit
Seed stage, strong teams
Best for: Proven traction, scaling
Understand each term before you negotiate. These are the terms that determine whether the deal serves you or consumes you.
Liquidation preference (1x standard)
Investors get their money back before common shareholders in an exit. Higher multiples (2x, 3x) are founder-unfriendly.
Anti-dilution (weighted average)
Protects investors from down rounds. Standard weighted average is fair. Full ratchet is founder-unfriendly.
Board seats (investor vs founder control)
Founders typically keep board control through Series A. Giving away board seats early reduces your strategic flexibility.
Option pool (pre- vs post-money)
Pre-money option pool dilutes founders only. Post-money dilutes everyone including the new investor.
Vesting (standard 4-year with 1-year cliff)
Founder vesting aligns incentives and protects the company. Unvested shares return to the company on departure.
Pro-rata rights
Allows investors to maintain their ownership percentage in future rounds. Standard, but excessive pro-rata can block new investors.