
What founders should know before raising Series A
Series A doesn’t come easy, and most startups never get there. Fewer than a third of seed-funded startups make it that far, and the numbers drop sharply for female founders. In 2024, just 3.5% of Series A capital went to all-women founding teams, with mixed-gender teams accounting for 21%.
I knew the odds when we launched RAD Security. But raising capital was only one battle. We had to prove our product worked, lock in customers, and keep our focus amid constant distractions. Along the way, I found out what works, what doesn’t, and what actually moves the needle in a competitive, unpredictable market. For any founder facing that uphill climb, especially those underestimated from the start, these lessons can make a real difference.
If you want to raise, show traction first
Investors love to talk about shiny products and futuristic roadmaps, but ultimately traction is everything. You need to be able to prove people want what you’re selling. For RAD Security, this meant staying completely locked in on acquiring customers and driving revenue. Whether deciding what features to build or what partnerships to pursue, it all came down to one question: ‘Will this help us grow?’
It’s easy to get distracted by media appearances, industry conferences, and other things that feel important. However, those won’t move the needle when you’re trying to close a round. Growth and proving demand have to be the focus.
Go from underdog to outperformer
Knowing that only a small number of female-founded startups make it to Series A was daunting, but it also fuelled me. Rejections became opportunities to refine our pitch, strengthen our strategy, and prove ourselves to investors.
It’s important to see the challenges without letting them define your journey. When you do achieve those milestones, acknowledge and celebrate that. You’re moving your company forward, but you’re also inspiring others to do the same.
Own the narrative before someone else does
One of the biggest lessons I learned was how much perception matters. Numbers are an important part of your story, but if you don’t control the narrative, others will fill in the gaps – and not always in your favour.
For instance, 25 months is the average time between seed and Series A. If you raise faster, some investors might assume you ran out of money. If you take longer, they might think you’re struggling. That’s why it’s critical to frame your story in a way that highlights your momentum and vision. At RAD Security, every conversation with investors was about showing how our early traction was just the beginning of something much bigger.
Your team is your edge
This journey can’t be done solo. I was lucky to build RAD Security with a co-founder and team who bring deep expertise, relentless passion, and a shared drive to make our mission real.
Investors are doing more than investing in products. They’re backing the people behind them. Experience, chemistry, and execution matter just as much as the numbers. Make sure your team’s strengths are front and centre. Don’t hold back on showing what makes them exceptional, even if bragging isn’t your style.
Mark the moments that matter
If you’re like me, you’re always looking ahead and sometimes forget to acknowledge the things you’ve accomplished. But pausing to recognise progress isn’t just good for your team; it’s good for your mindset. Securing Series A funding is a clear sign that despite the tough odds, what you’re building matters, and you’re making it happen.
Key lessons for founders
- Traction is everything. Focus on revenue, customer growth, and retention – those are the numbers that open doors
- Own your story. Shape the narrative and tackle doubts head-on
- Lean on your team. Your people are your biggest asset. Celebrate their wins, show their value, and build a team that sticks through tough times
- Build your network. Mentors, peers, fellow founders – finding your tribe is a game changer
Making the leap is hard but possible. Raising Series A isn’t the finish line. It’s the start of what’s next. Stay sharp, embrace the grind, and celebrate the wins along the way. If there’s one thing I know for sure: relentless determination can overcome any odds.