{
  "version": "1.3.0",
  "releasedAt": "2026-05-20",
  "kpi": {
    "rogueId": "fundraising.round_completion_pct",
    "slug": "round_completion_pct",
    "domain": "fundraising",
    "defaultLabel": "Round Completion %",
    "description": "Progress of the round expressed as committed capital divided by target. Read alongside `round_status` and elapsed-time-in-round to detect stalls. Common pitfall: percentage progress is misleading when measured against a shifting `target_raise` — when management lowers the target mid-round, the percentage jumps without any new commitments arriving. The board should always be told when this is a target revision vs. a real progress event.",
    "fieldType": "percentage",
    "unit": "%",
    "maturity": "general",
    "suggestedForStages": [
      "preSeed",
      "seed",
      "seriesA",
      "seriesB",
      "seriesC"
    ],
    "defaultOwningFunctions": [
      "Finance"
    ],
    "stageRelevance": {
      "preSeed": "core",
      "seed": "core",
      "seriesA": "core",
      "seriesB": "core",
      "seriesC": "core"
    },
    "definitionSource": {
      "tier": "editorial",
      "sourceName": "imboard Editorial",
      "sourceUrl": null,
      "sectionRef": null,
      "publicationDate": "2026-04-01",
      "attributionNotice": null
    },
    "formula": "round_completion_pct = (committed_amount / target_raise) × 100. When using soft+hard committed, footnote the convention.",
    "whyItMatters": "Single-number pacing signal — board members glance at it first when scanning a fundraising update. Pairs naturally with elapsed-time-in-round to surface stalls.",
    "interpretationGuidance": "Rough pacing checkpoints from collected practitioner essays (NfX, Bessemer founder content): 30% by 4–6 weeks in, 60% by week 8–10, 90%+ by week 12. Sustained pacing below these typically signals a need to widen the investor net or revise the target.",
    "relatedKpiIds": [
      "fundraising.target_raise",
      "fundraising.committed_amount",
      "fundraising.round_status",
      "fundraising.planned_close_date"
    ],
    "metricBasis": {
      "timeBasis": "point_in_time",
      "production": "computed"
    }
  }
}