Assaf Resnick

Sure.

It's very tactical.

We had originally done a Series B, oh, gosh, when was it?

I guess it was back in mid-2015, I want to say.

And at the time, we were fortunate enough to have multiple term sheets.

And we ended up taking a Series B with a great partner.

Our partners today include Sequoia and Mayfield and Battery.

And we were fortunate enough to have multiple term sheets.

So at the time, one of the investors came and said, hey, can we add a little bit more money?

And at the time, we didn't really need more money.

I didn't really want the dilution.

The sun was shining in the VC environment.

And then towards the

the end of 2015, you know, people started downgrading the value of Snapchat and all these other unicorns, and people were thinking that winter was, you know, rain clouds were forming, and people were thinking that winter is coming again in the VC environment.

And

Turns out later that after a year, it looks like the rain clouds had disappeared by the time we didn't know.

So we had an opportunity to bulk up the balance sheet by another $5 million.

And when I saw rain clouds forming, I said, hey, maybe it makes sense to get a winter coat from a capital perspective, just to have a healthier balance sheet.

It was a very pragmatic move.

No, cause this was very much, you know, it was just a few months after we'd already done the series B. So we had plenty of pipeline.