It seems like people throw around the 15-20% MRR growth as the number, but there is little evidence to suggest that this is the actual target. What metrics can I aim towards if I’m looking to raise a Series A?
It all depends on what your initial seed amounts are and how soon you start making revenue from the injection of capital.
each round wants to exit in 3 years ideally. So they want to see that you will give them 10x return in 36 mos.
now theoretically that works out to be doubling every 11 mos or just under 9% growth per month. But as SaaSTR suggests. in a SaaS company in todays market that needs to be 125% /yr or 10.1%/month http://www.saastr.com/is-5x-now-the-new-2x-in-saas/
secondly in the seed round for SaaS you will take most of 24 mos to get to traction http://www.saastr.com/if-youre-going-to-do-a-saas-start-up-you-have-to-give-it-24-months/
(remember these are the investor expectation) so you really are talking about needing to be growing at roughly 300%-400% in your last year to make up for the slower start ie you will double in your first 24 mos so you will need to more than quadruple in your last 12. and that's 20% monthly.
And when you get to Series A. they don't want to see that growth falling off.