Round Ready Academy

An 11-lesson programme on Series A and Series B round preparation. How institutional investors actually underwrite a round, the evidence bundle that gets it priced at the top of the range, and a 90-day plan to get there.

📚 11 lessons ⏱ 11–13 hours 🎯 Advanced

What you will learn

Understand how institutional investors actually underwrite a Series A or Series B round — and why evidence beats enthusiasm at the IC

Use The Opagio 12 as the structured language for the evidence bundle that sits behind every priced round

Surface the most common asset-base blind spots at £1M+ ARR before first partner meetings

Build a Series A asset register organised against a 47-question institutional diligence corpus

Design the four-layer metrics tree Series A and Series B investors compute regardless of what you present

Navigate the bridge-versus-extension-versus-debt-versus-equity decision tree without signalling distress

Mount a comps-led valuation defence when a term sheet comes in materially below the range

Present the Series B efficiency story that clears the post-2021 Rule of 40, NRR, and payback bar

Identify qualifying IP-backed lending collateral and work with UK bank programmes (NatWest, HSBC, RBS)

Execute a disciplined 90-day round-ready plan with weekly deliverables across evidence, gap-closing, and narrative

Course lessons

1 Lesson 1 of 11

Why Your Valuation Is a Narrative, Not a Number

Series A and B valuations are built on evidence and narrative, not pitch decks alone. How institutional investors actually underwrite a round — and why The Opagio 12 is the structured language for the evidence that drives price.

Open lesson

2 Lesson 2 of 11

The 12 Things Buyers Actually Price

A walkthrough of The Opagio 12 — the twelve intangible value drivers Series A and Series B investors actually price. How each maps to what institutional buyers look for, with sector examples.

Open lesson

3 Lesson 3 of 11

What £1M+ ARR Founders Get Wrong About Their Asset Base

The most common intangible asset blind spots at Series A stage — what founders overweight, what they under-document, and what to fix before the first partner meeting.

Open lesson

4 Lesson 4 of 11

Pre-Institutional to Institutional — the Shift You're About to Feel

What changes between angel and Series A — language, evidence bar, metrics expected, diligence depth. A founder-native guide to the shift into institutional capital.

Open lesson

5 Lesson 5 of 11

Building the Series A Asset Register

A 47-question institutional diligence corpus mapped to The Opagio 12. How to build a Series A asset register that survives the first partner screen and the investment committee.

Open lesson

6 Lesson 6 of 11

Designing the Metrics Tree Investors Expect

Top-of-funnel to retention to contribution margin — how to design the metrics tree institutional investors actually use to underwrite a Series A. Cohort retention, LTV/CAC by segment, and what defensibility means in evidence terms.

Open lesson

7 Lesson 7 of 11

The Bridge Round Decision Tree

Bridge vs extension vs venture debt vs equity — when each is appropriate, and how to position a bridge thesis without signalling distress.

Open lesson

8 Lesson 8 of 11

When the Offer Comes in 40% Below Comps

A response playbook for lowball term sheets — comps library, Opagio 12 differential report, founder-led renegotiation scripts. How to turn a lowball offer into a defensible counter, without burning the relationship.

Open lesson

9 Lesson 9 of 11

The Efficiency Story That Unlocks Series B

Why growth-at-all-costs is dead for Series B. Rule of 40, NRR, payback periods, unit economics — the language of the 2025/26 B-round market. How to build and present the efficiency story that clears the Series B bar.

Open lesson

10 Lesson 10 of 11

IP-Backed Lending — the Non-Dilutive Option Most Founders Never Consider

What qualifies as collateral at NatWest, HSBC, and RBS. How Opagio identifies qualifying IP-backed assets, and worked examples from the UK lending market. A non-dilutive capital option most founders never consider.

Open lesson

11 Lesson 11 of 11

Synthesis — Your 90-Day Round-Ready Plan

Ties all 10 lessons of the Round Ready Academy into a single action plan. Three 30-day phases, with weekly deliverables, that take your business from diagnostic to round-ready in 90 days.

Open lesson

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Round Ready Academy

Welcome to Round Ready

The Round Readiness Radar

Demo profile

What you will learn

Course lessons

Why Your Valuation Is a Narrative, Not a Number

The 12 Things Buyers Actually Price

What £1M+ ARR Founders Get Wrong About Their Asset Base

Pre-Institutional to Institutional — the Shift You're About to Feel

Building the Series A Asset Register

Designing the Metrics Tree Investors Expect

The Bridge Round Decision Tree

When the Offer Comes in 40% Below Comps

The Efficiency Story That Unlocks Series B

IP-Backed Lending — the Non-Dilutive Option Most Founders Never Consider

Synthesis — Your 90-Day Round-Ready Plan

Round Ready IQ

Ready to apply The Opagio 12 to your round?