Glossary — funding
Bridge round
A bridge round is a small extension financing raised between two priced rounds, usually to extend runway and prove out metrics needed for the next bigger round.
How it works
Bridges happen between seed and Series A, or between any two rounds. They're often raised on a SAFE or convertible note from existing investors at modest premium to the last round. Bridges can signal weakness if the company hasn't hit milestones, or strength if it's just buying time to compound. The structure usually has a cap-and-discount so converters get rewarded for taking the risk.