{
  "version": "1.3.0",
  "releasedAt": "2026-05-20",
  "kpi": {
    "rogueId": "fundraising.round_status",
    "slug": "round_status",
    "domain": "fundraising",
    "defaultLabel": "Round Status",
    "description": "Current phase of the active fundraising round on a coarse state machine (e.g. not-started, in-progress, term-sheet, closing, closed). The board reads this to know which playbook applies — pipeline-building, diligence, closing, or post-close communications. Common pitfall: the field drifts when a round stalls or pivots, so treat each phase change as a board-update trigger. The PhasePlaybook widget binds to this enum and surfaces the appropriate phase guidance read-only beside the editor.",
    "fieldType": "text",
    "unit": null,
    "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": "Categorical state derived from operational status — no calculation. Typical states: not-started, in-progress, term-sheet, closing, closed, paused.",
    "whyItMatters": "Anchors every other fundraising number in board context — the same target_raise is read differently mid-pipeline than at closing. Drives which phase playbook the board should be advising on.",
    "interpretationGuidance": "Treat a phase regression (e.g. term-sheet → in-progress) as a yellow flag and pair it with `risk_factors`. Time spent in any single phase beyond stage-typical norms (6–9 months at seed, 4–6 months at A/B) signals a stalled round.",
    "relatedKpiIds": [
      "fundraising.target_raise",
      "fundraising.committed_amount",
      "fundraising.planned_close_date",
      "fundraising.risk_factors"
    ]
  }
}