Last updated: June 11, 2026

Fundraising Rounds

A fundraising round represents a live raise you’re actively running. It’s where you set a target, pull investors from your pipeline into the deal, and watch commitments add up.

Fundraising round vs. funding round

These two sound alike but live in different places:

  • A fundraising round (here) is a live raise you’re running — the active campaign, its target, and the investors you’re working.
  • A funding round is a recorded financing event on your cap table — the completed transaction and the ownership it created. See Funding Rounds.

When a raise closes, the outcome is what you record on the cap table.

Creating a round

To start a round, give it:

  • A name
  • A type — pre-seed, seed, Series A, bridge, or other
  • A target amount
  • A status

Round lifecycle

A round moves through four states:

Draft → Active → Paused → Closed

  • Draft — you’re still setting it up.
  • Active — the raise is live and you’re working investors.
  • Paused — temporarily on hold.
  • Closed — the raise is finished.

Enrolling investors

Enroll investors from your pipeline into a round to track their progress within that raise. Each enrolled investor moves through their own progression:

Pending → funded / passed

This is separate from their overall pipeline stage — it reflects where they stand in this specific round.

Tracking progress

As investors commit, the round tracks:

  • Committed amounts with progress toward the target
  • Reply and commitment conversion stats — how your outreach is converting

Next steps