The KPIs, and what investors are looking for, will change from Series A to Series B. And bear in mind that ARR only tells part of the story—it could mean that you are adding new customers, while still churning existing ones. Therefore, ensure that you are monitoring deeper metrics (such as upselling or speed of leads closing) to get a complete picture. “You need to focus on the velocity of the growth of new business and churn on existing ARR. These are really the two types of metrics you should be focusing on.” — Jens Lapinski, Angel Invest Ventures 44