What is the term for the third round of venture capital funding?

The conventional term for the third numbered venture capital round is Series C.

The usual sequence is Series A, Series B, then Series C. Series A is commonly the first major priced equity round, Series B generally funds expansion after a company has demonstrated traction, and Series C often supports larger-scale growth, international expansion, acquisitions, or preparation for a public offering.

These labels describe an ordering convention rather than a rigid legal timetable. A startup may raise seed or pre-seed money before Series A, and bridge rounds, extension rounds, or unusual labels such as Series A-1 can complicate the sequence. Even so, when a quiz asks for the third standard lettered venture round, Series C is the canonical answer.

The letters refer to classes or series of preferred shares, not necessarily identical milestones at every company. A startup can reach Series C quickly or take years to get there, and some businesses skip a letter or raise debt instead. That is why “Series C” signals both sequence and a general stage of company development, not a guaranteed age or valuation.