Bridge round

Bridges are ordinary and often sensible. They are also read carefully, because a bridge with no named milestone at the other end looks like a company buying time rather than crossing to something.

Say what the bridge reaches and what will be true when it lands. That single sentence is the difference between a plan and a delay.

• Runway — How many months you can keep going before the money runs out.
• Seed — The round raised to turn early evidence into a repeatable machine.