Financing
provided by a venture capital firm to a company after it has received its
initial, or seed, financing. At this early stage, the company has a product or
service that it is testing or still developing, but it isn’t completely ready
to go to market. In some cases, the product may be commercially available in a
limited manner but not yet generating revenue. Typically, a company that
receives early stage financing has been in business for less than three years.