First Round Capital’s PMF framework consists of four levels: nascent, developing, strong, extreme

1. Level one: Nascent product-market fit. Likely a pre-seed or seed-stage company. The goal in this stage is to find three to five customers with a problem worth solving, engage with them, deliver a solution, and validate that solution. [examples: Vanta,

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1. First Round Capital’s PMF framework consists of four levels: nascent, developing, strong, extreme
   
   
   1. Level one: Nascent product-market fit. Likely a pre-seed or seed-stage company. The goal in this stage is to find three to five customers with a problem worth solving, engage with them, deliver a solution, and validate that solution. [examples: Vanta,

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What to look for Post-Product:

1) Retention: Users stick around 2) Surveys: Users say they’d be very disappointed if your product went away 3) Exponential organic growth 4) Cost-efficient growth 5) CAC < LTV 6) Customers clamor for your product 7) People are using it even when it’s broken