There's no magic number that automatically get's you "approval" for a Series A. Some questions to ask:
- How do I define my market and how big is it?
- Who are my customers and if a competitor did the exact same thing why would a customer choose me?
- How fast am I converting prospective customers to paying ones? If someone where to give me the capital I need tomorrow how many customers would I add?
These are the types of questions a Series A funder is looking for you to ansewer. They want to know "x" amount of capital will return roughly "y" for them as you've determined most of the major aspects of your business model (what you do, who your customer is/could be and how you make money). Feel free to call me if you'd like to walk through more of these questions for your company.