@SamCorcos Investing in @Levels was out of thesis for me, but Sam was a🎯 founder profile. It wasn't that he checked certain boxes, more that he thought wildly differently than anyone else. And that, above all else, is what I invest in. Thank you @HarryStebbings for another 🔥 episode

Nearly 3 yrs later, @SamCorcos is still the most memorable fundraising process that I've encountered as an investor. I'm not sure what part of this episode I like best, learning that @SamCorcos carries the US Constitution or his take on The Keeper Test. https://t.co/05Bto0V4fN

~This is why you live in California~

If you’re giving “gentle” reminders to your investors, you’re doing it wrong. In this market, it’s all hands on deck. Your investor asks should be specific, organized and tracked. I want to see a leaderboard of who is making intros and who has done zip.

when you nail the shot and the rest of the month is cake

This list is not meant to be dogma. Just what I am personally sharing with the companies that I work with. Take everything with a grain of salt, because every fund and investor will have their own process

Series A rounds are slower right now. Here is what I am telling my SaaS and b2b fintech portfolio companies to prepare in their data room as they plan to raise Is this overkill? Maybe. I would rather they be over prepared than the alternative https://t.co/cz7TWpxr3g

Do not compare yourself to other companies who raised or announced in the last 5 months "But ____X____ company raised at $ valuation with less traction!" is not going to be productive.... ...It's a different game on the field

The above is meant to be general guidelines. No one is giving strict numbers in absolute $$, and momentum (growth rate) is far more important General thinking is that if a b2b company isn't able to achieve 3xing YoY at this stage, it's unlikely that it will get better with time

Series A: $8M - $15M round Valuation: 𝑎𝑛𝑦𝑜𝑛𝑒'𝑠 𝑔𝑢𝑒𝑠𝑠 𝑇𝑟𝑎𝑐𝑡𝑖𝑜𝑛 • $1.5M in ARR is good, more like $2M • 3x YoY growth minimum, but more like 3.5x • 12-20 customers, indications of ACV growth • Sales team in place to implement the repeatable sales playbook

Seed: $2M - $5M round Valuation: $12M - $25M post (*I would not go over $15M) 𝑇𝑟𝑎𝑐𝑡𝑖𝑜𝑛 • $10k - $15k MRR, growing 10% MoM • 6-12 customers who have been paying for ~6 months or more, a few that would serve as case studies and references • Hired first technical AE

Pre-Seed: $750k - $1.5M round Valuation: $5M - $10M post (*I would not go over $7M) 𝑇𝑟𝑎𝑐𝑡𝑖𝑜𝑛: • a working MVP • indications of customer demand = have interviewed hundreds of potential customers or users • 2-5 "Design Partners" (non-paying customers or users)

The goalposts for raising a Pre-Seed, Seed and Series A round have changed since the Spring. Here are benchmarks that I would aim for as a founder of a SaaS or b2b fintech company in this current market 𝑛𝑜𝑡𝑒: 𝑡ℎ𝑒𝑟𝑒 𝑎𝑟𝑒 𝑒𝑥𝑐𝑒𝑝𝑡𝑖𝑜𝑛𝑠 𝑡𝑜 𝑎𝑙𝑙 𝑜𝑓 𝑡ℎ𝑒𝑠𝑒

It’s a good knight for chess

Starting off Monday with some fight in me. Keep wanting to blurt out in meetings “I’m the girl that does her job. You must be the other guy.”

feeling saucy 🍝

I have some reservations about calling the monarch King Charles… pls refer to my one and only King Charles (spaniel) RIP👑

I’d like to report a crime

and it’s about to be Labor Day weekend

ps I love SF. And it’s Burning Man week