Anyone here have tips on fundraising? We’re a pre-revenue seed stage startup with traction (in form of LOIs from customers) looking to raise $500K so that we can push out our product faster. Vancouver-based, however most likely moving down to Bay Area. We’re in the HealthTech / SaaS space.
Reach out to friends, professional and social network. I partnered with my grad school friends to fund my photography platform last year. Looking at my extended network and VCs for series A funding now. (Assuming you've done your due diligence and 500k is the minimum required for an initial lift. If not, reevaluate.)
Call Russ Hanneman - just make sure you know R.O.I.
And bring tequila for the meet.. top shelf shit
Expa is an accelerator in Vancouver founded by the Uber Co-Founder, can't tell you if it's useful for your situation or not but that's a resource
Many funders wouldn’t consider LoI’s to be traction. Prospects always say they are interested without having to commit.
Good point, however we’re developing with them (they are putting in eng resources on their end to integrate / test with us). I wouldn’t consider them customers since they’re not paying yet...or should we be calling them customers?
You can call them pilots
Ask people you know for $$$...