{
  "version": "1.3.0",
  "releasedAt": "2026-05-20",
  "kpi": {
    "rogueId": "fundraising.strategy",
    "slug": "strategy",
    "domain": "fundraising",
    "defaultLabel": "Fundraising Strategy",
    "description": "Free-text narrative covering the planned fundraising approach for the current round: target investor types (lead profile, co-investors), timing, sequencing of the conversation, use of proceeds, milestones the round will get the company to, and the alternative scenarios if the primary plan slips. This is the \"what is the CEO actually doing\" section of the fundraising update. Common pitfall: strategy that does not name a target lead investor profile or use-of-proceeds milestone is not strategy — it is intent. Boards should push for specificity here.",
    "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": "Narrative — no calculation. Should cover (1) target investor profile, (2) sequencing / timing plan, (3) use of proceeds, (4) milestones funded, (5) downside scenarios.",
    "whyItMatters": "Forces the CEO to articulate \"what game we are playing\" — boards offer better help when they understand the strategy, not just the numbers.",
    "interpretationGuidance": "A strategy that has not changed across consecutive board updates while the round has stalled is a red flag — typically requires a reframing conversation. A strategy that pivots every update is also a red flag — typically requires the board to push for commitment.",
    "relatedKpiIds": [
      "fundraising.round_status",
      "fundraising.target_raise",
      "fundraising.investors_in_pipeline",
      "fundraising.risk_factors",
      "fundraising.assumptions"
    ]
  }
}