[buro9]

You need to give your investors a decent return that implies revenue some many multiples of the investment.

If you are over-funded, the products that you have conceived, the markets that you are targeting, these need to change to deliver the return now needed.

At some point, the very company itself has to change to be something else. A lot of companies struggle at this point, and in essence the problem is self-created by taking on too much investment as the original market and product may have been just fine for a lower return that would have satisfied the first few rounds of investors.