Article
Tomasz Tunguz
Tunguz's index of his data-driven fundraising posts organized as a founder's guide: how VCs decide, round dynamics, valuation math, and negotiation, each backed by his analyses of actual funding data.
Fundraising strategyValuation & dilutionSeed
Article
Tomasz Tunguz
Data analysis showing Series B is statistically the hardest round: seed enthusiasm has faded, growth-stage proof isn't in yet, and the company is valued on early scaling evidence alone.
Raise readinessFundraising strategySeries B+
Article
Tomasz Tunguz
Quantifies the second-seed phenomenon: how common repeat seed rounds are and what they do, statistically, to a company's Series A odds and terms.
Bridge or extensionMomentum & signalingSeed