The purpose of the series seed is for the company to figure out the product it is building, the market it is in, and the user base.

Series Seed: Figuring out the product and getting to user/product fit.

• Purpose: The purpose of the series seed is for the company to figure out the product it is building, the market it is in, and the user base. Typically, a seed round helps the company scale to a few employees past the founders and to build and launch an early product. As the product starts to get more and more users, a company will then raise a series A.
• Amounts: Typically the range is $250K-$2 million (median today of probably $750K to $1million). The high end of this range used to be more typically $1million, but we are in the inflationary period of a venture cycle, and this number may move up into the millions of dollars before we have a correction.
• Who invests: Angels, SuperAngels, and early stage VCs all invest in seed rounds.

via blog.eladgil.com

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