Seed Round
The round that funds finding product-market fit, typically $500k to $3M.
A seed round funds the search for product-market fit: building the product, finding the first real customers, and establishing that the business can work.
Seed investors expect some evidence — early revenue, engaged users, or a strong signal of demand — but not the repeatable growth machine a Series A requires.
Seed rounds have grown larger and later over the past decade. What was called seed in 2015 is often pre-seed now, and Series A expectations have moved accordingly.