Fundraising is not a single issue. An event is a series of meetings and fun things, each with its own mood and feel. But many fundraising tips for founders paint the process with a broad brush.
Last week at TechCrunch Disruption we heard from three founders: Amanda Doamarle, founder and CEO of Fiveble; Arman Hezarkhani, founder of Parthian; and Sarah Du, co-founder of Alloy Automation, have each hit extreme highs and lows over the past 18 months. Talk about navigating the process, what worked (and didn’t), and how you can tailor your pitch to navigate multiple fundraising methods.
For Doamarl, it was important to spend time researching which investors could back her company. She said her warm introduction led to investors taking meetings with her, even though they weren’t really interested in investing.
“My co-founder and I got in the car and drove to Tennessee thinking we’d get this check. And this man didn’t believe me to like him, to even participate in this event. They’re not writing the check,” Doamaral recalled. “If people don’t see me as an equal, they can’t take me seriously.”
Du added that it’s important for backers to conduct due diligence beforehand not only to determine whether they can invest in the company, but also whether they would be good to work with. This is especially true for early stage founders who see a long relationship ahead.
