The answer varies on what kind of space it is. Scenario 1: If it's a smaller space, and your odds of raising the next round are better if your competition rais

The answer varies on what kind of space it is. Scenario 1: If it's a smaller space, and your odds of raising the next round are better if your competition raises a round - shows a market is expanding- then show them around the product, figuratively speaking. Send a mail to a few of your customers (and include the competitor), asking them to sign up for beta access for first priority on new features being launched. This way, both of you build similar stuff, onboard similar customers, and expand to similar adjacent markets. (and tell investors similar stories, reinforcing a social proof) Scenario 2: Insanely competitive market. Think like a wartime guy. What can you do to mislead them? In these markets, there is a huge focus on competition, and to match the offerings from others. You have their email, they may be playing it right, you can tell them about launching a new feature you know won't work, and then launch something different. They wasting their time means more leeway for you to work your magic. (if it's not the two extremes, don't bother. Just build and keep finding more customers) Altogether, these signups usually mean nothing. I was a PM/Growth guy at various companies, and had a habit of signing up for every new product I heard about - including ones from the competition, and play around for a bit. I still get emails from those guys. It was just to see user experience and offering, and we did not do anything around it.