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>>"unnamed investors" It's totally possible that these are legitimate, respectable investors, investing on information we aren't aware of. It's also possible (and more likely, in my opinion) that the unnamed investors are a relative of a founder, who invested in this to give them runway to do something else, or to potentially spur interest from other investors or acquirers.

very interesting. I wouldn't have considered this - I mean it's blindingly obvious whether a company you're working at (or supplying services to, etc) is two kids with an app hiring you, or two kids with an app and 1.2m in cash hiring you. So if they're doing this, it's likely they won't be hiring anyone, meeting with any real investors, or spending money on anything. That severely limits the upside of any PR - and that's bold.

On the other hand if they got some money, just not as much as that, then perhaps they could fluff as you suggest. Is this common in your experience? I've heard some reports of other fluffed numbers on HN, ("turned out not to have raised as much as they claimed") but no first-hand experience of anyone doing this.

it's their former boss