Runway
定義
Runway is how long a company can operate before cash runs out: cash balance divided by net monthly burn.
資金調達における位置づけ
The working rule is to raise 18 to 24 months of runway and start the next raise with at least 6 to 9 months left, since processes take months.
よくある質問
How much runway should a startup keep?
Post-raise, 18 to 24 months; fundraising with under 6 months of runway visibly weakens negotiating position.
How do I extend runway without raising?
Cut burn, accelerate collections, add non-dilutive sources like grants or revenue-based financing, and push pricing.