Early-Stage Rounds
Grant Non-Dilutive
A financial contribution from governments, institutions, or universities — no repayment or equity required.
Angel Early Stage
A round involving only angel investors, without participation of funds.
Seed Early Stage
Rounds in startups 0–2 years after founding. Deal sizes typically $1M–$4M. Pre-Seed is classified as Seed.
Series A Early Stage
Self-declared rounds when a company starts scaling. Deals $4M–$15M.
Early VC Early Stage
Dealroom's default label for early-stage rounds (pre-Series A) with no self-reported label.
Growth-Stage Rounds
Series B Growth Stage
Self-declared rounds focused on scaling further and growing revenue. Deals $15M–$40M.
Series C Growth Stage
Self-identified rounds for major growth initiatives. Deals $40M–$100M.
Series D to I Growth Stage
Late-stage equity financings, often hundreds of millions to billions, for mature private companies.
Late VC Growth Stage
Dealroom's default label for rounds with no specified type, beyond Series A or B.
Growth Equity (VC) Growth Stage
Invests in established, fast-growing companies using primary and secondary funding, led by PE firms.
Instruments & Special Structures
Convertible Instrument
Investors lend money via convertible notes intended to convert into equity at a future financing event.
Media for Equity Instrument
A media group provides advertising in exchange for shares.
Private Placement VC Instrument
Private share sale for publicly listed companies to selected investors outside public exchanges.
SPAC Private Placement Instrument
Private share sale by a publicly listed SPAC to institutional investors.
ICO Instrument
Fundraising where investors receive cryptocurrency tokens in exchange for capital.
Non-Dilutive & Support
Spinout Non-Dilutive
Companies founded around technology developed within a university or research centre.
Support Program Non-Dilutive
Non-dilutive funding through grants, accelerators, incubators, or public innovation schemes.
Debt Rounds
Debt Debt
Borrowing via loans, credit lines, or bonds with set repayment schedule and interest.
Post IPO Debt Debt
Post-IPO loans with commitment to repay principal and interest.
Lending Capital Debt
Large funding pools for fintech lenders — often from banks — to finance loans and mortgages.
Post-IPO Rounds
Post IPO Equity Post-IPO
Investors buy additional shares after a company has gone public.
Post IPO Convertible Post-IPO
Post-IPO instruments that can later convert into equity.
Post-IPO Secondary Post-IPO
Sale of shares after a company has gone public, typically by existing shareholders.
Public Listings
IPO — Initial Public Offering Listing
Private company sells shares to the public for the first time.
SPAC IPO Listing
Merger between a SPAC and target company resulting in public listing.
Secondary & Acquisitions
Secondary Transaction
Existing shareholders sell their shares to new investors — no new capital raised by the company.
Merger Transaction
Combination of two companies into a single new legal entity under mutually agreed terms.
Corporate Spinout Transaction
New company formed to commercialise innovations developed within a larger corporation.
Acquisition Transaction
Majority stake acquisition (50–100%) giving control of the company.
Buyout Transaction
PE firm acquires a majority/controlling stake in a company.
Other Transactions
Growth Equity (non VC) Other
Investments in non-startup companies by PE firms, banks, or corporations — no VC involved.
Project / Real Estate / Infrastructure Finance Other
Long-term project finance loans repaid once the project becomes operational.
Private Placement Non VC Other
Same as Private Placement VC but with no venture capital investors involved.
Bankruptcy Other
Company can't meet debt obligations and may undergo legal proceedings to restructure or shut down.
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📒 Additional information about funding rounds
In Dealroom, we classify funding rounds using three distinct methods, each serving a different purpose.
Announced
Announced Round Type reflects exactly what the company has publicly disclosed — this is what appears on the company's profile and on our searches.
Amount-based
Amount-Based Funding Type is used mainly in chart visualisations; it categorises rounds solely by their size (e.g. $1–4M is labelled as Seed), without accounting for context.
Standardised
Standardised Round Logic is Dealroom's most refined method. It takes a holistic approach by considering multiple factors — such as the announced label, round size, company age, and funding history — to assign a consistent and accurate round label. This ensures a more reliable classification for analysis and benchmarking. The standardised round logic is currently available for exports only, by selecting "standardised round" as a data point for your export.