Series B

When your start-up has successfully found a place for their product in the market and you’re confident enough to expand, it’s time to begin the process of raising a Series B round of funding.
Series B is all about scalability. You need to have enough evidence that you can expand your client or customer base from 200 to 2,000, or 200,000.
This is also the time for you to consider boosting the number of workers to aid your proportions for scaling. Series B will signal the beginning of your transition from an establishing company into a competitive force in the industry. You’ll need resources to strengthen your workforce and exposure to new customers.
This will call for the recruitment of talented individuals to help with your strategies, and more investments will be focussed towards the wage bill of skilled staff.
The level of investment brought in by Series B funding typically ranges from €7 million to €10 million, and by now companies can expect valuations of between €30 million and €60 million.
Due to the significant figures associated with this funding stage, the task of investing is usually undertaken by venture capital firms. Each series arrives alongside a fresh valuation for a start-up, so most investors tend to reinvest to ensure their stake stays strong.
Some venture capital firms operate solely to help late-stage start-ups, and if you’re looking for a little extra windfall, it could be worth seeking them out.