[JCM9]

The simple fact is that 10 years in you need to become profitable or there’s no business. Todays market isn’t going to look kindly on a loss making startup of that vintage. The $1B valuation is long gone and realistically the company is probably worth less than the cash raised to date. As you’re finding there are folks that will provide ongoing funding, but they’re going to charge a price consistent with the risk they’re taking at this point.

Not trying to sound cold but that’s the reality of the market now. Probably no consolation, but there are a lot of startups in this position now. If you have IP that’s valuable you could explore an M&A exit. That typically won’t end in a giant cheque but will make folks whole and provide a graceful exit.

[susanwise]

Thank you, was looking for exactly this direct feedback. And agreed, the value of the business is likely less than the money raised.