Have you raised capital for your startup?
Max Avery
19 replies
Did you run the raise yourself?
What challenges did you face? What went well?
Replies
Massimo Chieruzzi@massimocw
Breadcrumbs
Yes, twice, with AdEspresso and with Breadcrumbs.io
We handled the process ourselves... I don't see any other option, especially at seed stage investors invest in the team more than the project, it cannot be outsourced.
The main challenge is learning that a lot of no are just part of the game, not a prediction of how your project will perform most of the time.
The other big challenge is that it's an extremely time consuming process which early on you need to run in parallel with other 20 things you have to do. It is how it is... Allocate time every day to fundraising :)
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@massimocw great input, and thanks for taking the time! Just checked out your page for AdEspresso, looks really cool!
In the past, yes.
Some challenges we faced/saw:
1) Applying for each VC separately.
2) Getting warm intros.
3) Going through the same flow of fundraising tons of times - cold emailing, pitching, series of interviews, proof checking, and final acceptance.
4) Bias of VCs regarding alma mater, entrepreneur history/track record, etc.
I did it in a previous company.
It's a long process. You learn and adapt.
Start creating a comprehensive data room and update it every time some VC asks for more info.
Be ready to show the most important data: revenue, growth, strategy, demos, etc..
We did a pre seed round and a friends and family round.
I’d say identifying which fund can be a fit (a lot of funds won’t be playing in your field or stage despite indicating it in their website) and the fact that you need to keep going despite no’s.
Understanding where the fund is within its lifecycle, could be they only have couple of investments left and therefore more challenging to get an investment from them vs a newly raised fund
Boostraping so far
@max_avery how about you?
@sasha_buratynskyi That's what our platform is built for at www.syndicately.com - so I am always looking for feedback to see if there are any pain points we can address better!
Launching soon!
Raising capital for my startup was a rollercoaster ride! From late-night pitch practices to endless investor meetings, I've seen it all. Challenges? Finding the right investors who align with our vision. What went well? Learning to adapt and refine our pitch along the way. Cheers to the startup hustle!
Yes - 2x - Friends & Family and Pre-Seed - working on #3 now!