Everyone saw the $6.5m seed announcement. But few saw the lessons from our pre-seed.
Last summer, we were first-time founders and it’s safe to say that we were naive when it came to fundraising.
After a flurry of interest, we ended up speaking to tens of VCs and wasted countless hours in meetings with VCs who were never going to invest.
In the end, we did receive two term sheets but were fortunate that we could go with our private network.
Fast forward to this round and it was a very different story.
> We kept it to 8-10 VCs we’d built relationships with.
> We controlled the process and the content.
> We focused on conversations, instead of slide decks.
> We shared proof of market traction when it mattered most.
The difference this time was we were intentional about how we raised.
If the product needs to be disciplined and intentional, so does the fundraising.
That’s the biggest lesson we are taking away.
