The second major round of venture capital funding, typically following Series A when a company has proven its business model and needs capital for market expansion and team growth. These rounds are usually larger than Series A, often $10-50 million.
Following the alphabetical naming convention established for Series A, Series B emerged as startups required multiple funding rounds. The terminology became standard as the venture capital industry matured in the 1990s and multi-stage funding became common.
Series B is where the 'growth at all costs' mentality often kicks in! Companies have proven their model works but face pressure to capture market share quickly, leading to aggressive hiring, marketing spend, and geographic expansion—it's the round where startups often transform into scale-ups.
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