FreshPlanet just announced that it raised $1.5 million in Series A funding.
The company creates "Fun games for smart people."
I'm not wowed by any stretch by FreshPlanet. Just another video game company in my book.
But I included it here for just that reason. FreshPlanet is not some ultra-unique product or company. It's just two successful entrepreneurs trying to improve on products in an established industry.
And by putting together the right strategy and plan, and knocking on the right doors, they raised $1.5 million from three individual angel investors and one early-stage venture capital fund.
For those of you who don't understand the term "Series A," the Series A round is the name given to your first significant round of venture financing. The name "Series A" refers to the class of preferred stock that you sell to investors in return for their cash. Your Series A round is typically the first series of stock issued after common stock (which is typically issued and/or sold to company founders, employees, friends and family, and initial angel investors).
If seeking angel funding: Download Growthink's Step-by-Step Guide to Raising Capital from Angel Investors.
If seeking venture capital: Download Growthink's Step-By-Step Guide to Raising Venture Capital.