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Stage Seed Series A Series B Pre-Money / Post-Money Valuation Distribution of Equity Ownership 31M $16M 3250K (angel) $1M (vcl) 34M (VC2) $1.25M $5.00M

Stage Seed Series A Series B Pre-Money / Post-Money Valuation Distribution of Equity Ownership 31M $16M 3250K (angel) $1M (vcl) 34M (VC2) $1.25M $5.00M $20.00M 64 % 51% 13%

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