{
  "version": "1.3.0",
  "releasedAt": "2026-05-20",
  "kpi": {
    "rogueId": "fundraising.target_raise",
    "slug": "target_raise",
    "domain": "fundraising",
    "defaultLabel": "Target Raise",
    "description": "Target gross capital the company intends to raise in the currently active round (the \"ask\"). This is the headline number the CEO walks investors through and the board uses to sanity-check dilution and runway implications. Note the distinction from `total_round_size` (which can include third-party participation beyond the company-led ask) and from `minimum_close_amount` (the floor at which the round can close). Common pitfall: the target is updated mid-process when investor demand or strategy shifts — every change deserves a board note.",
    "fieldType": "currency",
    "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": "Plain currency target — no derivation. Distinct from `total_round_size` (which may include strategic / employee allocations beyond the lead ask) and `minimum_close_amount` (the floor for the round to close).",
    "whyItMatters": "Defines the contract between management and the board for this round — every downstream KPI (round_completion_pct, founder_dilution, runway extension) is calibrated against it.",
    "interpretationGuidance": "Compare against stage norms (per Carta / PitchBook quarterly reports): pre-seed $0.5–3M, seed $2–5M, Series A $8–20M, Series B $20–60M. A target significantly above stage norm warrants extra board scrutiny on burn assumptions and investor fit.",
    "relatedKpiIds": [
      "fundraising.committed_amount",
      "fundraising.total_round_size",
      "fundraising.minimum_close_amount",
      "fundraising.round_completion_pct",
      "fundraising.founder_dilution"
    ],
    "metricBasis": {
      "timeBasis": "point_in_time",
      "moneyBasis": "cash",
      "production": "primary"
    }
  }
}