Ok I think we can just stop naming fundraising rounds now since they are completely meaninglesshttps://news.crunchbase.com/news/pipe-brings-in-60m-seed-extension-to-power-saas-financing-platform/ …
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Ok that kind of makes sense but I’ve always thought of extensions as existing investors, minimal markup. This doesn’t seem like that.
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It doesn’t, however - if progress doesn’t justify a Series A, the equity portion of the raise could go under same terms as the seed (or a note), therefore a seed extension. Maybe most of the raise is SaaS funding and only a little bit goes to the company? Definitely weird...
End of conversation
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