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YC grad Workramp lands $1.8M seed round

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Re: YC grad Workramp lands $1.8M seed round

#21

Earlier quoted context omitted.

Thanks Michael!! We're happy to partner with such a great company like drchrono and we appreciate your continued feedback and support.

Can you say more about how Workramp is for start-ups and how it grows? The TC article had more than what I could find on the website about how onboarding leads to goals, leads to performance evaluation--but giving those tools to the SMB market would be huge. I had them when I worked at Deloitte, I'd love to have them at my current start-up.

Thanks for the question terravion! Great point about Deloitte--we wanted to take world class training programs (where companies have deep pockets) and make it accessible to SMBs/mid-market companies. We can help you build full development paths for your team--from onboarding all the way to promotion or changing roles. Happy to tell you more if you want to drop a quick line to ted@workramp.com

Re: YC grad Workramp lands $1.8M seed round

#24
post #12

How is this a seed round at $1.8M after YC already put in its standard $120,000 for 7%? It seems more like a (light) Series A round for scaling.

My understanding is that the most important attribute of an A round is that it fixes a specific valuation on your company. Lots of companies take numerous "seed rounds"; some are continuously funding during the seed stage. They're not out of "seed" until they take a VC round that imposes a valuation on them.

It's also popular to price a seed round (from 500k up, in my experience) using the "Series Seed" legal documents that are close to boilerplate now. As a founder turned investor, it seems that those docs could be streamlined into software easily. Most of the terms are standardized at this point, aside from board seats.
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