Assuming you already have an MVP...
They threw a pile of cash at you and your quest is to spend it smart. Some of it will go to distribution, but not much before there's a clear PMF. So most of it is going into the product. That means people.
But when you hire your first few employees you want them to be the best for the job. And that can take months...
So what do you in the awkward period between getting all that money and completing your dream team?
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Setup time to talk to your users and continuously iterate to reach Series A level product maturity.
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1. I think nobody will give you the money without you explaining what you will do with them. So you have to have a plan long before that pile of cash.
2. I assume it's smart money, so there are some mentors/advisors as well. Advisors bring connections, connections can help with hiring.
That said, I would definitely hire a person as a contractor for a month or two first so that I can be pretty sure of them when switching to a full time.
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Continue with MVPs and stay focus on ARR for series A. You only have 12-18 months to get tasks done. Everything that makes progress only counts. The rest is un-important. Take care!
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