Fundraising
Milestone
A specific, measurable achievement that a startup must reach to unlock additional funding, demonstrate progress, or meet investor expectations.
Milestones are specific, measurable targets that startups aim to achieve — often tied to the deployment of new capital. VC bridge rounds are frequently milestone-driven: 'we'll fund you to get to $1M ARR, then you raise a Series A.' Seed rounds are deployed to hit Series A milestones: achieving product-market fit signals, hitting a revenue threshold, or proving a specific technical feasibility. Investors track milestone achievement as a proxy for execution quality. Common fundraising milestones by stage: Pre-seed → working prototype; Seed → initial customers, early revenue; Series A → $1-3M ARR, strong NRR; Series B → $5-15M ARR, repeatable sales motion. Failing to hit stated milestones significantly impairs a company's ability to raise the next round.