Publications
Publications
- November 2002 (Revised October 2003)
- HBS Case Collection
Circles: Series D Financing
By: Paul W. Marshall and Kristin Lieb
Abstract
Circles, a corporate concierge company on the verge of profitability, must make a decision whether to take a D-round venture capital despite ever-changing and ever-worsening terms. A four-year-old company with several major clients, it has met its business plan projections and finds itself only a month or two away from profitability. Co-founder Janet Kraus works with her board and management team to consider alternatives to taking venture capital money. Together, they weigh the pros and cons of different types of funding and growth strategies and, ultimately, they must decide which path to pursue.
Keywords
Cost vs Benefits; Financing and Loans; Management Teams; Growth and Development Strategy; Negotiation Process; Venture Capital; Governing and Advisory Boards; Entrepreneurship; Service Industry; Consulting Industry; Massachusetts
Citation
Marshall, Paul W., and Kristin Lieb. "Circles: Series D Financing." Harvard Business School Case 803-062, November 2002. (Revised October 2003.)