Maybe if the valuation is an issue, avoid it altogether.

How?

Use a SAFE or a Convertible Note.

There are great benefits to SAFEs and Notes. You can do a rolling close. Valuation is off the table. Legal costs are usually lower.

You do need to be careful though as they can convert at high % if the next round is not an 'up round' and you haven't done your modelling carefully.

See Legal Templates for more details.

https://embed.notionlytics.com/s/ZUcxRWMyZ3dXVXd6YVVOVVIweFBlVEJNZGpBPQ==