Series C

“The amount of money that you have to raise to be successful in this space by the time you do a series C is about forty million bucks. That's where you need to go and to be successful. That's table stakes for this field.”

“We think we'll close this, our series C somewhere end of this calendar year first couple months of the next.”

“A little over 200.”

“I think in C rounds, I think typically somewhere below 20%. It's not like A and B rounds. It's usually like 10, 15, that sort of thing.”

“So we haven't even touched, we're still running on a series B money, right? We raised the series B. We did not start touching The Serious Serious C money we raised in December, and we still have a pretty long way to go with a Serious B, right?”

“I think the delusion was just closer to 15%.”

“So JDP, who has been with us literally from the seed days until today, they've invested in every single round and led every single round until the last one, until the CEC.”

“To be even more precise, we used about thirty million of that a team for secondary.”

“That was our B round. Again in euros, that was a thirty three million euro. So maybe thirty six million dollars B round We've done, we did a debt financing round in 2018 twenty seven million euros, and then a little bit opportunistically we did a C round which…”

“Seed, product market fit, series A, prove you can sell it, series B, prove you can expand and keep those customers, series C and beyond, make it repeatable, profitable, and predictable, and then a big milestone, take a capital efficient model, move it to adjac…”