Total Received
Cash that has actually been wired and cleared the company's bank account from investors in the current round. This is the cash-in-the-bank version of `committed_amount`. Common pitfall: commitments do not pay the bills — wiring can lag commitments by weeks to months for the second / third closes, and a committed-but-not-received delta of $5M+ can quietly extend the runway forecast incorrectly. Reconcile this against `finance.total_cash_in_bank` increases each period. — Fundraising KPI, I'mBoard-authored (editorial tier).
I'mBoard-authored (editorial tier)
No public third-party standard anchors this KPI yet, so I'mBoard authors and maintains the definition — transparently labeled as editorial tier. See the ontology methodology for the published vs editorial tier system and the back-attribution workstream.
Rogue ID: fundraising.total_received
Type: Currency
Domain: Fundraising
Definition
Cash that has actually been wired and cleared the company's bank account from investors in the current round. This is the cash-in-the-bank version of committed_amount. Common pitfall: commitments do not pay the bills — wiring can lag commitments by weeks to months for the second / third closes, and a committed-but-not-received delta of $5M+ can quietly extend the runway forecast incorrectly. Reconcile this against finance.total_cash_in_bank increases each period.
Formula
Sum of investor wires received and cleared in the current round. Always less-than-or-equal-to `committed_amount`; difference equals "to-be-wired" balance.Why it matters
The only line of capital the company can actually deploy — runway forecasts based on committed_amount rather than total_received are aspirational, not operational.
How to interpret
A widening gap between committed_amount and total_received past the first close warrants a follow-up — wiring delays beyond 30 days from signature increasingly correlate (per founder postmortems published on First Round Review) with investor regret or strategic shifts.
Calculation policy
How an AI agent should compute this KPI from messy company data. Free-text rules consumed at reasoning time — not a deterministic DSL. The most common ways to get this wrong are listed under Common miscomputations.
Inclusion rules
- Cash that has actually been WIRED and CLEARED the company's bank account from investors in the current round.
- The deployable, operational version of the round — the only capital runway forecasts may legitimately rely on.
Exclusion rules
- Committed-but-not-wired capital —
committed_amountminustotal_receivedis the "to-be-wired" balance, not received. - Soft commitments and pipeline interest.
- Prior-round capital already in the bank (reflected in cash balances /
total_capital_raised, not this round's received).
Required inputs
- Per-investor wires received and cleared in the current round.
- Wire dates (to measure commitment-to-cash lag).
- The current
committed_amountto compute the outstanding balance.
Data-source priority
- Bank statements / treasury ledger (cleared wires).
- Closing agent / counsel confirmations as a fallback before the bank feed updates.
Edge cases
- Multiple closes: wiring for the second / third close can lag commitments by weeks to months — report received as of the period, not as of commitment.
- A committed-but-not-received delta of several $M can quietly overstate runway — reconcile received against
finance.total_cash_in_bankincreases each period. - FX on a cross-border wire: record the cleared reporting-currency amount, not the quoted commitment amount.
Validation checks
- total_received ≤ committed_amount always.
- Period-over-period increase in
finance.total_cash_in_bankfrom financing ≈ total_received for the period (net of fees).
Common miscomputations
- Treating
committed_amountas received and building operational runway on aspirational capital. - Counting a signed subscription doc as received before the wire clears.
Related KPIs
fundraising.committed_amountfundraising.target_raisefinance.total_cash_in_bankfinance.runway_months
Source
I'mBoard editorial — authored and maintained by I'mBoard, first published 2026-04-01. No third-party standard is cited for this KPI; when one emerges, the definition is back-attributed and promoted to the published tier (a minor version bump). Read the ontology methodology for the published vs editorial tier system, attribution rules, and dispute process.
Stage relevance
| Company stage | Priority |
|---|---|
| Pre-Seed | Core |
| Seed | Core |
| Series A | Core |
| Series B | Core |
| Series C+ | Core |
Suggested for stages: Pre-Seed, Seed, Series A, Series B, Series C+.
Default owning functions
- Finance
Machine-readable
- This KPI as JSON:
/api/ontology/fundraising/total_received.json - All Fundraising KPIs:
/api/ontology/fundraising.json - Full catalog:
/api/ontology/index.json
Total Capital Raised to Date
Cumulative gross equity capital raised across all prior rounds (and the current round in-progress). Treated as historical context — investors and board members look at this to gauge capital efficiency (capital raised vs. ARR achieved). Common pitfall: includes all equity but typically excludes convertible debt that has not converted, venture debt principal, and grants — be explicit about what is and is not included when the number is presented. Capital efficiency benchmarks (per KBCM, SaaS Capital, and Bessemer State-of-the-Cloud) compare `total_capital_raised` to current ARR — e.g. "$30M raised, $10M ARR" is efficient at A but lean at B+. — Fundraising KPI, I'mBoard-authored (editorial tier).
Total Round Size
Total new capital being raised in the current round across all participants — the lead, follow-on investors, employee/strategic allocations, and any side-letter pieces. This is the figure that goes into the post-money math. Common pitfall: companies sometimes confuse `total_round_size` with `target_raise` — the round size is final and used in valuation math, while the target is what management is aiming for and can move during the raise. Boards should expect a specific breakdown by investor when this number is reported. — Fundraising KPI anchored to NVCA Model Legal Documents (2024 revision).