Seed+
Also known as: Level 4, Seed Extension, Bridge Round, Pre-Series A Bridge
A bridge or extension round targeted at a specific Series A-ready milestone, requiring proof that Seed investment produced its intended results and demonstrating repeatability beyond the initial pilot context.
Full Definition
Seed+ is Level 4 of the GAITS Funding Readiness Framework. It is a bridge or extension round with a specific purpose: to reach the milestone that Series A investors require. The narrative must be explicit about what that milestone is. A Seed+ that is framed as additional runway without a defined destination will not close.
Funders at this stage expect consistent performance across multiple settings, a repeatable sales process that does not depend on founder relationships, and a clean cap table. The commercial model must be validated by data, not by projections. The primary risk being addressed is repeatability and early scaling — can the team show that the Seed investment produced its intended results and that the product works reliably beyond the initial pilot context?
Typical instruments include SBIR Phase IIB and BARDA early-stage contracts (US), and EIC Accelerator blended finance, EIB co-investment, and Horizon Europe health consortia (EU). Dilutive funding at this stage typically comes from pre-Series A bridge rounds, growth-stage health funds, and strategic partners. Raise sizes for HealthTech are typically larger than Digital Medicine at this stage due to regulatory, hardware, and clinical study costs.
A digital health team has completed ten deployments of their clinical decision support tool across three NHS trusts, with documented outcomes showing a 22% reduction in missed diagnoses. They have a defined sales process, one commercial hire, and a signed letter of intent from a fourth trust. They raise a Seed+ round to fund a formal health economic study and three additional deployments — the specific evidence package their target Series A lead has told them is required. The round is framed around a single destination milestone, not general runway.