An investor wants 20%. What is that worth?
A target percentage tells you your dilution exactly and your valuation not at all. How to convert one into the other, and what a pool ask does to it.
Learn
Worked examples of the arithmetic behind a raise. Each one runs on a real cap table and ends in a number you can check.
Two rounds out, not one
A seed at a $12,000,000 post beats one at $10,000,000 and leaves the founders 1.215 points worse two rounds later. Both paths, worked in full.
How much your SAFEs already own
Every post-money SAFE you sign locks in that investor's percentage. Yours is the only one that moves. Three SAFEs, worked, ending in a real number.