Funded - How They Raised Millions

What makes someone a successful founder? Is it how much revenue they're able to generate? How well they lead their company and their employees? How many investors they're able to land? Those all play a role ... but the real answer is probably more nuanced and certainly harder to pinpoint. When we look at any successful founder throughout history, it's natural to wonder how they got there. To wonder what made them different from the thousands of others who tried to walk the same path and failed. Today I get to talk to Ian Swanson, 3x venture-backed founder and current CEO of Protect AI. Ian has raised over $82M in venture capital throughout his career with two successful exits . In today's interview, we touch on all three of Ian's companies, sharing the ups, the downs, and the in-betweens of running a venture-backed company. Tune in to uncover the untold stories behind Ian's path to success and discover what sets him apart in the world of entrepreneurship. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

In this episode of The Backchannel, the host emphasizes the critical role of third-party feedback in the fundraising process for entrepreneurs. Reflecting on a recent interaction with a founder, the host describes how an initially chaotic business pitch was clarified and refined through his outsider's perspective. This episode underscores the unique advantage of third-party insights, which strip away emotional biases and unnecessary details to highlight the core message that resonates. The takeaway is clear: seeking external opinions on fundraising materials isn't just helpful; it's essential for success. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

In this episode, the host shares the power of personal newsletters for VC's, shedding light on investor psychology and fundraising strategies. Drawing from anecdotes from his personal life and interactions with VC's, he highlights the importance of staying top of mind in the competitive landscape of deal flow. By sharing stories of missed opportunities and the dynamics of VC interactions, he underscores the significance of personal branding through newsletters. Ultimately, the episode offers a pro tip for VC's to leverage personal newsletters as a means to enhance deal flow and foster lasting connections while simultaneously teaching founders about investor psychology. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

Join us on a journey through the winding roads of entrepreneurship with our guest, Nancy Xu, the Founder & CEO of Moonhub. From her early days training for the U.S. math and physics team to her academic journey at Stanford and her stint as a software engineer at Facebook, Nancy seemed destined for academia. However, her passion for impactful ideas steered her towards entrepreneurship, leading her to start Moonhub, the pioneering AI-powered recruiter. With over $10 million raised in just two years, we explore how Nancy's background in AI research and building crucial relationships laid the foundation for Moonhub's success. Join us as we unravel the fascinating story of Nancy Xu raising millions from big named venture capitalists like Google Ventures and Khosla Ventures. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

In this episode, our host covers the importance of having a technical co-founder for non-technical founders and how to go about finding one. Venture capitalists seek teams with diverse skill sets, understanding that successful companies require both technical and non-technical expertise. For non-technical founders, making progress and creating value without a technical product is key to attracting top talent. By understanding the "why" and "how" of finding a technical co-founder, you'll be better equipped to build a strong co-founding team and drive towards success. Join us as we explore the steps ahead in this journey! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

In this episode of the Back Channel, we explore the importance of addressing competition during investor meetings. Drawing on an analogy from the hosts undergrad economics class, he emphasizes the significance of positioning oneself confidently alongside competitors and calmly articulating one's unique value proposition. Rather than avoiding the conversation, address the competition with calm confidence, focusing on your strengths and differentiation. It's all about owning your narrative and demonstrating why your direction is superior. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

There's a quote from Abraham Lincoln that always really speaks to me: "Give me 6 hours to chop down a tree and I will spend the first 4 sharpening my axe." It's become a mantra of sorts for me, especially when it comes to fundraising. I share it with all of the founders I work with because it encapsulates a fundamental truth: the preparation before the task is key. In my experience, the ease of a fundraising journey is directly proportional to the groundwork laid beforehand. Those lightning-fast fundraises? They're not just luck; they're the culmination of years, even decades, of relationship-building and experience. Take today's guest, Scott Kriz. As the co-founder and CEO of SGNL, he raised over $22M in less than 2 years, drawing on a decade of industry know-how. But this success wasn't overnight. Scott had already navigated the fundraising landscape with his previous venture, Bitium, where he secured $15M in VC funding before its acquisition by Google in 2017. Scott's journey underscores the importance of early struggles in paving the way for future triumphs. This episode is filled with knowledge, so make sure to listen till the very end! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

In this episode of The Backchannel, host Jason Yeh delves into the world of junior VCs and their path to becoming venture capitalists. Drawing from his own experience at Greycroft and the hiring processes, he emphasizes the significance of technical backgrounds, industry connections, and experience in fields like consulting or banking. Venture capital firms prioritize hiring from networks with access to potential deals and founders, highlighting the importance of networking in this industry. Ultimately, understanding these hiring practices provides valuable insights for aspiring venture capitalists. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

Dilution is one of those things that a lot of founders seem to 'lightly' understand. That's why in today's episode, Jason breaks down a step-by-step example of how dilution actually works. Discover the significance of understanding dilution and its impact on ownership over your company. See you next week on The Backchannel! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

Bootstrapping and raising venture capital are two different beasts. Bootstrapping gives you control, but growth is slower. Venture capital speeds things up, but you have to give up some control. There is, however, one thing they both have in common: each requires a leap of faith. Today's guest is pretty unique. She's someone who's gotten to experience building both types of companies - one bootstrapped, one venture backed. That guest is Guta Tolmasquim, founder and CEO of Purple Metrics, which recently closed their first institutional round of capital, a $1.2M pre-seed led by Astella, one of the top venture firms in Brazil! But before Purple Metrics, Guta founded Brand Gym, a company she bootstrapped and built all by herself. As you can imagine, the transition to building a venture backed company was... interesting In this episode, we get to learn about how Guta ended up closing her $1.2M pre-seed round and just how powerful building your network really is. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

A lot of people tend to forget that the pre-seed round in venture capital is still relatively new. In today's episode, we talk about how the pre-seed round came about, and how it's changed since moving farther away from the bull markets back in 2020 and 2021. One of those changes being the need for investors to see traction earlier and earlier before investing. Make sure to watch the full episode to hear all the insights around pre-seed rounds! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

Have you ever heard of the quote "The safest way to get what you want is to deserve what you want"? It was said by the legendary investor Charlie Munger, and in todays episode we're going to talk about how you can apply that same understanding to fundraising as a startup founder. Get ready to listen along and ask yourself to answer hard truths about yourself and your company. See you next week on The Backchannel! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

Most of us have heard the saying "good things don't come easy", and I'd be willing to argue that the majority of people agree with that statement on some level. But sometimes, good things do come easy and THEN they get harder. And it's in those pivotal moments where you really get to see what you're capable of. That was the case for today's guest Mohak Nahta - founder and CEO of Atlys - a company he started as a side project to solve his own problem of getting his visa on time when traveling. In today's episode, we get to hear the story behind not only Mohaks most recent $12M Series A but also his experience raising his $4M Seed round. Grab your notebook, because this guest is dropping all the fundraising knowledge! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

Hello & welcome back to The Backchannel! Today, we're diving into a topic that's often overshadowed in the frenzy of fundraising: whether or not to announce your round. Drawing from the hosts own experiences and observations, he'll guide you through some of the complexities involved in making this decision. Join us as we dissect the strategic implications and weigh the pros and cons, offering practical insights for founders charting their course in the startup landscape. See you next week! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

The truth is - most first-time fundraisers underestimate all that goes into fundraising and the support you need to make it through. In this episode, Jason touches on 7 different emotional and tactical forms of support every founder should be aware of before jumping into a fundraise. Make sure to watch the full episode so you don't miss any! See you next week on The Backchannel. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

There is one thing that almost every single entrepreneur has in common - the drive to change the world in some way, shape, or form. For today's guest, she spent years of her career working for organizations like Doctors Without Borders and the United Nations, living overseas and funding entrepreneurs who were trying to make a difference in their communities. Stacy Edgar is the co-founder and CEO of Ventuer, a company revolutionizing the healthcare space. To date, Venteur has raised a total of $7.72M in venture funding. $120k of that being a pre-seed round from Techstars, the other $7.6M coming from the seed round they closed in August of 2023 led by GSR Ventures. In this episode Stacy shares some of her stories from raising her seed round as well as her success with open enrollment and the hard decisions they had to (and continue to have to) make while raising and scaling the business. Make sure to listen to the full episode! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

In this episode of The Backchannel, the host delves into the intricacies of lead investors versus co-leads, breaking down the key distinctions and red flags to watch out for. Learn why securing a dedicated lead investor holds paramount importance in navigating the complexities of fundraising, and gain valuable insights into the potential pitfalls of co-lead arrangements. Tune in for an informative exploration of investment dynamics and strategic considerations to think about before considering getting a co-lead. See you next week! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

Join us in this episode for an insightful discussion on pattern recognition in venture capital and its impact on underrepresented founders. The host dives into the power dynamics of pattern matching, exploring how VCs use this tool to make investment decisions while shedding light on its potential biases. From the imprecision of pattern recognition to strategies for overcoming its limitations, this episode offers practical insights for both founders and investors. Listen in for a solid conversation on leveling the playing field in startup funding. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

While most kids were occupied with typical childhood activities, today's guest was already knee-deep in the world of technology. From coding PHP to deconstructing old computers with his pops, his early passion for innovation set the stage for an extraordinary entrepreneurial journey. Fast forward to the present, Igor Marinelli stands as the visionary co-founder of Tractian, a cutting-edge machine intelligence company that has gained significant attention in the startup ecosystem. With an impressive $63 million in funding raised within just four years, including a substantial $45 million Series B led by renowned investor General Catalyst, Igor's achievements are nothing short of awe-inspiring. Join us as we delve into Igor's insightful narrative, exploring the pivotal moments that shaped his entrepreneurial trajectory and propelled Tractian to success. -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com

In this episode, the host tackles a common yet often misunderstood slide in pitch decks: the "use of funds" slide. Many founders include it because they've heard it's necessary, but often it ends up being a vague waste of space. Instead, use this slide strategically to outline where you are today, your future goals, and how the allocated funds will be specifically utilized. By anchoring it in concrete objectives and clear allocation, you not only inform investors but also demonstrate a thoughtful plan for executing with the capital raised. So, next time you're crafting a use of funds slide, ensure it serves a purpose and isn't just a filler in your deck! -- If you're looking for more fundraising content, grab our weekly newsletter packed full of strategies and insights around how to raise money: fundedpod.com/newsletter If you're looking to learn how Adamant is helping founders prepare for their fundraise, head here: admnt.com