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My co-founder and I ran a startup before this, which was also VC-backed, so we had around 6+ years of networking built up from that. You meet hundreds of VCs al
by ryanSrich 5y ago
My co-founder and I ran a startup before this, which was also VC-backed, so we had around 6+ years of networking built up from that. You meet hundreds of VCs along the way. So it was never an issue of finding investment for this new venture. It was finding the right investors.
We raised our pre-seed round in 2020 without anything, just a pitch deck, and fully remote. We didn't meet our investors in person until several months after closing on the round.
We raised our Seed this June based on having roughly 100 companies using our product, a good percentage paying us. So while I wouldn't say we raised our Seed round with PMF, we were (and are) showing signs of PMF.
So yeah, our product is a bit past the MVP stage, but not by much. We still have bugs that come up almost every day, and we fix them as fast as we can. However, the product has matured greatly in the last six months.
- ewuhic 5y agoAnd what does the "right innvestors" mean in this context, if, I assume, the thickness of the wallet is not an issue here?
- ryanSrich 5y agoIt’s a few things. - positive reputation. Other founders enjoyed their experience. - provide value through their network. This is the foundation YC built themselves on. Investors that introduce you to paying customers, other founders, other investors, etc. - leave you alone and only help when you ask for it. These are the best types of investors. They provide advice only when you ask. Those are the most important things.