How much should you raise?

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Raising to hit Milestones
Read time 2.0 minutes.

I’ve lost count of how many times I’ve asked a founder: “Why are you raising this amount?” and watched the confidence drain out of their face.

Here’s the truth: most early-stage asks sound arbitrary. The number isn’t tied to milestones, resources, or strategy. It’s a placeholder.

And investors know it.

The pattern looks like this:

• One founder picks a number because that’s what their friend raised.

• Another goes with a round size that “feels right” for pre-seed.

• A third admits they just need something to keep the lights on.

None of those answers inspire conviction.

So what does?

Founders who treat fundraising like a roadmap instead of a ritual. They don’t ask, “What’s the market norm?” They ask, “What do we need to hit the milestones that will allow us to raise our next round?”

That shift changes everything.

Instead of saying “We’re raising $500k because that’s the standard pre-seed,” they say:
– Here are the three milestones we must hit before seed.
– Here’s the team, tools, and time it takes to get there.
– That translates to $350k, plus a buffer for the unexpected.

Notice the difference? One is guesswork. The other is strategy.

The best founders also show they can adapt. They’ll explain what progress looks like with $350k.

Your raise amount isn’t just a financial detail. It’s part of your story. If you can connect dollars to outcomes in a way that feels inevitable, you’ve already done half the persuasion work.

Fuel without a destination is just dead weight. But fuel mapped to a clear road? That’s when investors want to fill your tank.

Onwards and Upwards,

Liam Gill