The startup fundraising glossary, in plain English

Fundraising has its own vocabulary and nobody hands you the list. Here's what the terms actually mean, and what they mean for your raise.
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F

Funding stages

Fundraising round

A structured process in which a startup raises a defined amount of capital from investors in exchange for equity. Common rounds include pre-seed, seed, and Series A.

P

The process

Pitch deck

A presentation, typically 10 to 15 slides, summarising a startup's business model, team, market opportunity, traction and funding ask. The primary document used to attract investor interest.

Funding stages

Pre-raise

The preparation phase before formally launching a fundraising round. Getting your deck, data room, financials and narrative investor-ready so you can hit the ground running.

T

The process

TAM, SAM, SOM

A market sizing framework used in pitches. TAM (Total Addressable Market) is the full opportunity, SAM (Serviceable Addressable Market) is the portion you can realistically target, and SOM (Serviceable Obtainable Market) is what you can capture in the near term.

The process

Traction

Evidence that a startup is gaining momentum, measured through revenue, user growth, partnerships or other quantifiable signals. One of the most important indicators investors assess at early stage.