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MenuI'm in Germany and want to get funding for my successful startup. Which VCs should I get in touch with?
B2B SaaS, 1 year old, more than 1400 paying subscribers. Everything has been bootstrapped until now.
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Honestly kickstarter is a brilliant site for startup funding and it will help you get the word out. If your start up is as good as you think then you might even get even more funding money than you had thought.
You need to look at your startup in stages. If you are getting revenue in your business and have 1400 subscribers, what execution plan do you have in place to GROW, and how much money do you need to do so? Even at this level, I believe you are still considered as early stage seed and still would be looking for small/med Angel to help you boost your existing traction. You are in a good position to look for smart money investor that will have the contacts and network to take you to Series A. Since your company is enjoying good cash flow, take your time to find the right investors that will maximise your evaluation for the next round.
First off: Well done! You're over 1000 paying subscribers. That's not easy and a good metric to reach.
Having said that - everything depends on your vertical, lifetime value of the customer, cost of customer acquisition, network effect etc.
Should this all bear out well - there are a number of amazing funds:
1. Intel
2. Axel Springer
3. Point-Nine Capital
4. BDMI
5. Accel Partners
6. DN Capital
7. Index Ventures
8. Hasso Plattner
There are a bunch more I'm familiar with. It has to do with matching your requirements and stage to their mandate.
Hit me up privately if you would like to discuss.
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How do you get exposure on AngelList to attract angel investors?
What of the following things does your startup have? > Founders who have graduated from prestigious universities / previously exited companies to known acquirers / worked for a known companies (with known being a brand-name company such as Google, Amazon, Facebook etc) > Three or more months of statistically meaningful growth (e.g. for easy sake, double digit growth of a number in the thousands) > At least one investor who is active on AngelList (defined in the ideal state by at least one investment in a company who raised their round through AngelList and ideally whose social graph is connected to "high signal" members of the AngelList network) If you have none of these things, then at least, have advisors and referrers who have a strong AngelList profile. And another option is to seek out the AngelList scouts and pitch them directly. They are more open to this than anyone else and I've seen companies with very little traction and very little social proof get featured because a scout believes in the founder and/or the story. Without any or most of the above, it will be difficult to stand out or build relationships via AngelList, in my opinion. I assume now AngelList operates on a concept similar to the LinkedIn "degrees of connection" model, whereby an entrepreneur can now send unsolicited messages to investors so long as there is a degree of connection between the investor and the company. I get a few unsolicited emails a week from companies whose advisers or investors aren't people I follow but that because of the way they determine "connection strength", these unsolicited emails still gain my attention. I assume this is the case for all investors. So the more that you can build your list of advisers and referrers, the more connections you can solicit. That said, AngelList's inbound email system is almost entirely ineffective for "cold" emails to really high-profile investors. Happy to share with you what I think to be your best options for raising profile for your company.TW
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Keep in mind that investors invest for returns. Telling a prospective investor that you want his or her money to grow your business but don't plan on ever generating a liquidation event that pays him or her a dividend is not likely going to work; angel or not. You may be better served with debt financing where returns are generated in the form of interest payments not equity value growth. BUT, if equity financing is the plan, you're going to want to develop a strategic exit plan right from the start. That means identifying prospective buyers, strategic channels etc and characterizing the value drivers for each right up front. You'll find prospective buyers come in a number of forms; competitors, bigger versions of you, strategic partners, private equity, etc. Each will value your business in different amounts for for different reasons. Understanding this is vitally important for you to navigate to securing the right money, from the right sources, with the most favorable terms. Once you've qualified and quantified each of them, then determine what (specifically) you're going to need to do to align your business with those prospective buyers generating the highest returns. This will drive your business model and go to market strategy and define your 'use of funds' decisions. This in turn result in a better, more valuable business whether you exit or not. Do it this way and you'll have no trouble raising money from multiple sources. You can learn more about the advantage of starting with a Strategic Exit plan here: http://www.zerolimitsventures.com/cadredc Good luck. SteveSL
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Among platforms for startup funding, AngelList is the 800 pound gorilla. Does it make sense to use simultaneously other platforms like Gust, etc?
Short answer: Of course! Many angel groups require you to submit through Gust because it offers a consistency and makes reviewing applications easier. But not all use Gust same as not all use AngelList... I haven't met an angel who frowns upon using multiple platforms. I would encourage you to leverage your twitter and Facebook or Instagram to meet angels and get in their radar (don't hassle or stalk) just try to get exposed a bit to them by being part of the same meetup group, follow the same blog, membership... Subscribe to their own blog.. And when you submit funding request considerations do please send a follow up email or a call or basket of fruits if you have contact them before.HV
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I have a great idea for a mobile app. If I can fund the prototype then how do I seek investors?
A prototype will not get you an investor, to be honest. This is just a fallacy. If you can fund the prototype, launch it in the market, get some traction from users. See if your mobile app resonates with your users. You need to track whether your app is able to retain those users so that they keep coming back to it. If you have a good amount of retention with the first few set of users (100 or 1,000), that's a good pitch to take to an investor. Investors are not looking at ideas, they're looking at businesses that can get, retain and engage a customer.RV
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