A process is provided for fermenting CO-containing gaseous substrates. The process is effective for decreasing lag times and maintaining a culture in steady state by controlling CO concentration and minimizing effects of high or low CO concentrations during fermentation. The process includes providing syngas to a first fermentation zone, fermenting the syngas, and determining a CO concentration in a fermentation medium in the first fermentation zone. If the CO concentration in fermentation medium in the first fermentation zone has a value of about 0.12 μM or greater, then at least a portion of the syngas being provided to the first fermentation zone is provided to one or more subsequent fermentation zones in an amount effective for providing a CO concentration in any subsequent fermentation zone of about 0.12 μM or less.