Fundraising Readiness

Not yet clear

Some pieces are clear

Clear and investor-ready

No specific use of funds

Broad categories only

Milestones, budget, and timing are explicit

No hard evidence yet

Qualitative interest or pipeline

Revenue, usage, or signed customers

Repeatable growth or retention pattern

No retention evidence

Early or anecdotal evidence

Measured cohort, repeat-use, or renewal data

No market sizing

Mostly top-down market numbers

Bottoms-up model with assumptions

Bottoms-up model validated by customer evidence

Broad or generic

Segment defined, but buying trigger unclear

Focused ICP with buying trigger and access path

No model

Static forecast with limited assumptions

Driver-based model

Driver-based model with scenarios and sensitivities

No unit economics story

Directional story only

Measured or well-supported path

No data room

Documents exist but are scattered

Organized data room with core materials

Investor-ready and internally reviewed

Unknown or not reviewed

Known issues remain

Mostly clean with a few notes

Clean and reviewed