How do you tell pre-money from post-money before you sign?

On Round Funded the pre-money and post-money valuation calculator turns round size and valuation into founder ownership after close, so you know which number you actually agreed to.

Pre-money is the value before the check lands. Post-money is pre-money plus the check. Same headline, different outcome.

Raising 1M on a 5M pre-money means 6M post and about 16.7 percent to the investor. The same 1M on 5M post-money is 20 percent. Nobody lied, the words just did the work.

Ask which one the number is before you counter, check whether the option pool sits before or after the money, and judge the deal on what you own the day it closes.