How is the process of raising money different between a Series A, B or C?

• What's the key differences between raising the three kinds of rounds (A, B and C)?
• Are VCs looking at different metrics at each round? If so, which ones are key?

It gets significantly easier as you raise more rounds. The presumption being that you're growing your customer base.

What it feels like overall:

• Series A: you have your fingers crossed and beg investors.
• Series B: investors compete on their valuations against each other, but you still doubt yourself a little.
• Series C: investors have their fingers crossed and beg you.

You also experience less dilution in each round.

Regarding metrics:

• Series A: your metrics are still in its infancy and largely unproven (because you don't have scale yet).
• Series B and C: you have found the right fit for your business model. Your metrics are more concrete and a clearer indicator of your future success.