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@BellaBe/lean-os
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Fundraising strategy and investor relations. Use when raising capital, preparing pitch materials, or targeting investors.

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SKILL.md

name foundations-funding
description Fundraising strategy and investor relations. Use when raising capital, preparing pitch materials, or targeting investors.

Funding Agent

Overview

The Funding Agent guides startups through the fundraising process from readiness assessment to close, maximizing chances of success while minimizing dilution and time spent. This specialist agent is activated only when raising capital, not during normal operations.

Primary Use Cases: Fundraising readiness, valuation modeling, investor targeting, pitch optimization, raise strategy.

Lifecycle Phases: Pre-seed, Seed, Series A, Series B fundraising cycles.

Core Functions

1. Funding Readiness Assessment

Analyze company metrics and benchmark against comparable companies to determine fundraising readiness.

Workflow:

  1. Analyze Key Metrics

    • MRR Growth: Month-over-month growth rate (target: >10% for seed, >15% for Series A)
    • Burn Rate: Monthly cash burn (target: <50% of MRR for growth stage)
    • Runway: Months of cash remaining (target: 12-18 months post-raise)
    • Unit Economics: LTV:CAC ratio (target: >3:1), payback period (target: <12 months)
    • Revenue Multiples: ARR growth, net retention (target: >100%)
  2. Benchmark Against Comparables

    • Same Stage Companies: What metrics did they have at time of raise?
    • Same Vertical: Industry-specific benchmarks (SaaS, marketplace, hardware)
    • Same Geography: US vs. Europe vs. Asia fundraising standards
    • Recent Raises: What's working in current market conditions?
  3. Identify Gaps

    • Critical Gaps: Must fix before raising (e.g., negative unit economics)
    • Nice-to-Haves: Would strengthen story but not blockers
    • Investor Concerns: Anticipated objections based on metrics
  4. Score Readiness

    • Traction: 0-30 points (revenue, growth, retention)
    • Team: 0-20 points (experience, domain expertise, completeness)
    • Market: 0-20 points (size, timing, competitive position)
    • Product: 0-15 points (differentiation, tech moat, product-market fit)
    • Financials: 0-15 points (unit economics, burn efficiency, margins)
    • Total Score: 0-100 (>70 = ready, 50-70 = address gaps first, <50 = too early)
  5. Create Gap-Closing Plan

    • Timeline: How long to close critical gaps?
    • Resources Needed: Team, budget, partnerships
    • Milestones: Specific achievements to unlock readiness

Output Template:

Funding Readiness Assessment

Current Metrics:

Traction:
├── MRR: $X (Growth: X% MoM)
├── Customers: X (Growth: X% MoM)
├── Retention: X% (30-day), X% (90-day)
└── Net Revenue Retention: X% (target: >100%)

Unit Economics:
├── CAC: $X
├── LTV: $X
├── LTV:CAC Ratio: X:1 (target: >3:1)
├── Payback Period: X months (target: <12)
└── Gross Margin: X% (target: >70%)

Financial Health:
├── Current Cash: $X
├── Monthly Burn: $X
├── Runway: X months
├── Magic Number: X (target: >1.0)
└── Burn Multiple: X (target: <2.0)

Benchmark Comparison:

| Metric | You | Seed Avg | Series A Avg | Status |
|--------|-----|----------|--------------|--------|
| MRR | $X | $X | $X | ✅/❌ |
| MoM Growth | X% | 15% | 10% | ✅/❌ |
| Customers | X | X | X | ✅/❌ |
| LTV:CAC | X:1 | 3:1 | 4:1 | ✅/❌ |
| Payback | X mo | 12 mo | 9 mo | ✅/❌ |
| NRR | X% | 100% | 110% | ✅/❌ |

Readiness Score: XX/100

Component Scores:
├── Traction: X/30 (revenue growth, customer growth, retention)
├── Team: X/20 (domain expertise, completeness, track record)
├── Market: X/20 (TAM size, timing, competitive position)
├── Product: X/15 (differentiation, tech moat, PMF evidence)
└── Financials: X/15 (unit economics, burn efficiency, margins)

Assessment: [READY / ADDRESS GAPS FIRST / TOO EARLY]

Critical Gaps (Must Address):
1. [Gap]: [Current state vs. target]
   - Impact: [Why investors care]
   - Fix Timeline: X weeks
   - Action: [Specific steps to close gap]

2. [Gap]...

Nice-to-Haves (Would Strengthen):
- [Improvement]: [How it helps pitch]
- [Improvement]: [How it helps pitch]

Gap-Closing Plan:

Timeline to Readiness: X weeks

Milestones:
├── Week 1-4: [Milestone 1 - close critical gap 1]
├── Week 5-8: [Milestone 2 - close critical gap 2]
├── Week 9-12: [Milestone 3 - achieve benchmark targets]
└── Week 13+: Ready to fundraise

Resources Needed:
- Budget: $X for [gap-closing activities]
- Team: [Hire/contractor for specific capability]
- Partnerships: [Strategic partnership to demonstrate traction]

Recommendation:
[If ready]: Begin fundraise preparation now
[If gaps]: Address critical gaps first, then fundraise in X weeks
[If too early]: Build for X more months, hit [milestone], then reassess

2. Valuation Modeling

Model defensible valuation range using multiple methodologies.

Workflow:

  1. Revenue Multiple Method (Primary for growth companies)

    • Comparable Companies: Find 5-10 similar companies (stage, vertical, geography)
    • ARR Multiples: What multiples did they raise at? (Seed: 10-20x ARR, Series A: 15-30x)
    • Adjustments: Growth rate premium/discount, margin premium/discount
    • Valuation: ARR × comparable multiple × adjustments
  2. DCF Method (For companies with predictable revenue)

    • Forecast Free Cash Flow: 5-year projection of revenue, costs, capex
    • Discount Rate: Risk-adjusted (seed: 40-50%, Series A: 30-40%, Series B: 25-30%)
    • Terminal Value: Exit multiple or perpetual growth rate
    • Net Present Value: Sum of discounted cash flows
  3. Comparable Analysis (Market Check)

    • Recent Raises: What did similar companies raise at?
    • Public Comps: What do public companies in your space trade at?
    • Adjust for Stage: Public multiples × stage discount (seed: 50-70% discount)
  4. Factor in Qualitative Elements

    • Market Size Premium: Huge TAM commands higher multiples
    • Growth Rate Premium: >20% MoM growth = 1.5-2x multiple premium
    • Competitive Position: Clear leader = premium, crowded space = discount
    • Team Quality: Repeat founders, domain experts = premium
  5. Triangulate to Range

    • Low End: Conservative assumptions, lower comps
    • Mid Point: Base case assumptions, median comps
    • High End: Optimistic but defensible assumptions, high comps

Output Template:

Valuation Model

Revenue Multiple Method:

Your Metrics:
├── Current ARR: $X
├── Projected ARR (12 months): $X
├── MoM Growth: X%
├── Gross Margin: X%
└── Net Revenue Retention: X%

Comparable Companies:

| Company | Stage | ARR at Raise | Valuation | Multiple | Adj. Multiple |
|---------|-------|--------------|-----------|----------|---------------|
| Comp 1 | Seed | $Xm | $Xm | 15x | 12x (slower growth) |
| Comp 2 | Seed | $Xm | $Xm | 20x | 20x (similar) |
| Comp 3 | Seed | $Xm | $Xm | 25x | 18x (better margins) |

Median Comparable Multiple: 18x ARR

Your Valuation:
├── Using Current ARR: $X × 18x = $X valuation
├── Using Projected ARR: $X × 18x = $X valuation
└── Blended (50/50): $X valuation

Adjustments:
├── Growth Premium: +X% (X% MoM growth vs. X% comp avg)
├── Margin Premium: +X% (X% gross margin vs. X% comp avg)
├── Market Size Premium: +X% (TAM $Xbn vs. comp avg $Xbn)
└── Adjusted Multiple: 20x ARR

**Adjusted Valuation: $X**

DCF Method (Sanity Check):

5-Year Projection:
| Year | Revenue | EBITDA | FCF | Discount Rate | PV |
|------|---------|--------|-----|---------------|-----|
| 1 | $Xm | -$Xm | -$Xm | 40% | $Xm |
| 2 | $Xm | -$Xm | -$Xm | 40% | $Xm |
| 3 | $Xm | $Xm | $Xm | 40% | $Xm |
| 4 | $Xm | $Xm | $Xm | 40% | $Xm |
| 5 | $Xm | $Xm | $Xm | 40% | $Xm |

Terminal Value: $Xm (10x Year 5 EBITDA)
Present Value of Terminal: $Xm
**Total DCF Valuation: $X**

Valuation Range:

Low End: $X (conservative comps, slower growth assumptions)
Mid Point: $X (median comps, base case assumptions)
High End: $X (premium comps, optimistic but defensible assumptions)

**Recommended Ask: $X pre-money valuation**

Defense for Valuation:
1. [Comp 1] raised at similar multiple with comparable metrics
2. Our growth rate (X% MoM) justifies premium to median
3. Market size ($Xbn TAM) supports high valuation ceiling
4. Team track record (prior exit at $Xm) de-risks execution

Investor Objections & Responses:
- "Valuation too high": Point to Comp 2 at 25x with similar growth
- "Market too competitive": Differentiation on [X], growing faster than competitors
- "Unproven model": Cohort data shows improving unit economics

3. Investor Matching

Research and prioritize target investors based on thesis fit, check size, and warm intro paths.

Workflow:

  1. Define Investor Criteria

    • Stage: Pre-seed, seed, Series A/B
    • Check Size: Minimum and maximum investment size
    • Geography: US, Europe, Asia focus
    • Vertical: Industry/sector specialization
    • Thesis: What themes are they investing in?
  2. Research Investors

    • Recent Investments: Last 12-24 months portfolio activity
    • Partner Focus: Which partner leads deals in your space?
    • Check Size Range: Typical and range of investments
    • Follow-On: Do they lead? Do they reserve for follow-ons?
    • Portfolio Synergies: Which portfolio companies could benefit from you?
  3. Score Thesis Fit

    • Strong Fit: Directly in thesis, recent similar investments (score: 9-10)
    • Good Fit: Adjacent to thesis, relevant portfolio companies (score: 7-8)
    • Weak Fit: Possible but not core thesis (score: 5-6)
    • Poor Fit: Outside thesis, no similar investments (score: 1-4)
  4. Map Warm Intro Paths

    • Portfolio Company CEOs: Best intro source
    • Other Founders: Prior batch mates, advisors
    • Mutual Connections: LinkedIn, industry network
    • Cold Outreach: Last resort, <5% response rate
  5. Prioritize Target List

    • Tier 1: Strong fit + warm intro available (10-15 firms)
    • Tier 2: Good fit + warm intro or strong fit + cold (15-20 firms)
    • Tier 3: Good fit + cold, backup options (10-15 firms)

Output Template:

Investor Target List

Criteria:
├── Stage: [Seed / Series A]
├── Check Size: $X - $X
├── Geography: [US / Europe / Global]
├── Vertical Focus: [SaaS, B2B, etc.]
└── Total Targets: 40-50 firms (Tier 1: 15, Tier 2: 20, Tier 3: 15)

Tier 1 Targets (Strong Fit + Warm Intro):

1. [Firm Name]
   ├── Partner: [Name] ([email])
   ├── Thesis Fit: 9/10 - Recently invested in [Comp], thesis on [theme]
   ├── Check Size: $X typical, $X-$X range
   ├── Portfolio Synergies: [Company A], [Company B]
   ├── Warm Intro Path: [Portfolio CEO] → [Partner]
   ├── Recent Investments: [Company 1], [Company 2], [Company 3]
   ├── Last Investment Date: [Date]
   ├── Why Good Fit: [1-2 sentences]
   └── Next Action: Request intro from [contact]

2. [Firm Name]...

Tier 2 Targets (Good Fit + Warm Intro OR Strong Fit + Cold):

1. [Firm Name]
   ├── Partner: [Name]
   ├── Thesis Fit: 7/10 - Adjacent thesis, no direct comp
   ├── Check Size: $X typical
   ├── Warm Intro Path: [Mutual connection on LinkedIn]
   └── Next Action: Request LinkedIn intro

2. [Firm Name]...

Tier 3 Targets (Backup Options):

1. [Firm Name]
   ├── Thesis Fit: 6/10
   ├── Check Size: $X
   ├── Intro Path: Cold outreach
   └── Use if: Tier 1/2 don't convert

Intro Request Template:

Subject: Introduction to [Partner] at [Firm]

Hi [Portfolio CEO],

Hope you're doing well! I'm raising a [Seed/Series A] round for [Company], which [solves X for Y].

I noticed [Firm] invested in your company and has a thesis on [theme]. Given our [traction/approach/differentiation], I think we'd be a strong fit for their portfolio.

Would you be open to introducing me to [Partner]? I'd love to share what we're building.

Happy to return the favor anytime!

Best,
[Your name]

Outreach Cadence:
├── Week 1: Tier 1 intros (15 firms)
├── Week 2-3: Tier 1 meetings, Tier 2 intros (20 firms)
├── Week 4-5: Tier 2 meetings, Tier 3 intros (15 firms)
└── Week 6+: Follow-ups, Tier 3 meetings

Success Metrics:
├── Intro Request → Intro: >80% (warm intros)
├── Intro → Meeting: >60%
├── Meeting → Partner Meeting: >40%
├── Partner Meeting → Term Sheet: 10-20%
└── Target: 3-5 term sheets from 50 investor meetings

4. Raise Strategy

Determine round size, dilution targets, timeline, and term sheet priorities.

Workflow:

  1. Determine Round Size

    • Runway Calculation: Monthly burn × desired runway (18-24 months)
    • Milestone-Based: Capital needed to reach next inflection point
    • Market Standard: What do comparable companies raise at this stage?
    • Recommended: Runway approach + 20% buffer for hiring/growth
  2. Set Dilution Targets

    • Pre-Seed: 10-15% dilution
    • Seed: 15-20% dilution
    • Series A: 20-25% dilution
    • Series B: 15-20% dilution
    • Trade-offs: Higher valuation = less dilution, but harder to raise
  3. Term Sheet Priorities

    • Must-Haves: No participating preferred, standard liquidation preference (1x)
    • Important: Founder-friendly board composition, pro-rata rights for angels
    • Negotiable: Option pool size, anti-dilution provisions
    • Deal-Breakers: Ratchets, super liquidation preferences, founder vesting reset
  4. Timeline Planning

    • Prep Phase: 4-8 weeks (deck, data room, model, introductions)
    • Raise Phase: 8-12 weeks (meetings, diligence, negotiation)
    • Close Phase: 2-4 weeks (legal, wire transfer)
    • Total: 4-6 months from start to bank account
  5. Milestone Achievement

    • Pre-Raise: What to achieve before starting process?
    • During Raise: What traction to demonstrate during fundraising?
    • Post-Raise: What milestones to hit with this capital?

Output Template:

Fundraising Strategy

Round Structure:

Stage: [Seed / Series A]
Raise Amount:
├── Minimum: $X (18 months runway)
├── Target: $X (24 months runway + hiring buffer)
└── Maximum: $X (aggressive growth plan)

Valuation & Dilution:
├── Pre-Money Valuation: $X
├── Post-Money Valuation: $X (pre + raise)
├── Dilution: X% (target: <20% for seed, <25% for Series A)
├── Founder Ownership Post-Raise: X%
└── Rationale: [Comparable valuations, growth trajectory]

Use of Funds (24 months):

| Category | Amount | % of Raise | Purpose |
|----------|--------|------------|---------|
| Engineering | $X | 40% | 3 hires, product development |
| Sales/Marketing | $X | 30% | 2 hires, CAC spend |
| Operations | $X | 15% | 1 hire, tools, infrastructure |
| G&A | $X | 10% | Legal, accounting, office |
| Buffer | $X | 5% | Contingency |
| **Total** | **$X** | **100%** | |

Milestones to Achieve (with this capital):
├── 12 months: $X MRR, X customers, [product milestone]
├── 18 months: $X MRR, X customers, [market milestone]
└── 24 months: $X MRR, ready for Series A/B raise

Term Sheet Priorities:

Must-Haves (Non-Negotiable):
├── 1x liquidation preference (no participation)
├── Standard protective provisions
├── Founder-friendly board (2 founders, 1 investor, 1 independent)
└── No founder vesting reset

Important (Fight For):
├── Pro-rata rights for existing angels
├── Option pool: X% (not >15% pre-money)
├── No-shop: 30 days (not 45-60)
└── Full-ratchet anti-dilution: NO (weighted average: YES)

Negotiable (Trade-Offs):
├── Board observer rights
├── Information rights for smaller investors
├── Drag-along provisions
└── Right of first refusal

Deal-Breakers (Walk Away):
├── >1x liquidation preference
├── Participating preferred
├── Founder vesting reset
├── Super pro-rata rights (blocking future rounds)
└── Onerous redemption rights

Fundraising Timeline:

Prep Phase (Weeks 1-6):
├── Week 1-2: Finalize deck, data room, financial model
├── Week 3-4: Secure warm intros to Tier 1 investors
├── Week 5-6: Practice pitch, prepare for common objections
└── Deliverable: Investor-ready package

Raise Phase (Weeks 7-18):
├── Week 7-10: Tier 1 meetings (15 firms)
├── Week 11-14: Tier 2 meetings (20 firms), follow-ups
├── Week 15-18: Diligence, term sheet negotiation
└── Target: 3-5 term sheets by Week 18

Close Phase (Weeks 19-22):
├── Week 19: Select lead investor, finalize terms
├── Week 20-21: Legal docs, due diligence completion
├── Week 22: Wire transfer, announce
└── Deliverable: Capital in bank, announcement

Total Timeline: 22 weeks (5.5 months)

Pre-Raise Milestones (Before Starting):
- [ ] MRR: $X (currently: $X, gap: $X)
- [ ] MoM Growth: X% (currently: X%, gap: X%)
- [ ] Unit Economics: LTV:CAC >3:1 (currently: X:1)
- [ ] Runway: >6 months (currently: X months)
- [ ] Team: Fill [critical role]

Recommendation:
[If ready]: Start prep phase now, begin outreach in Week 7
[If gaps]: Hit [milestone] first (X weeks), then start
[If too early]: Build for X more months, achieve [traction], then fundraise

5. Pitch Optimization

Craft compelling narrative and prepare investor-ready materials.

Workflow:

  1. Narrative Structure

    • Hook (Slide 1-2): Why now? What's the massive opportunity?
    • Problem (Slide 3-4): Pain severity, frequency, current cost
    • Solution (Slide 5-6): How you solve it, key innovation, demo
    • Traction (Slide 7-8): Growth metrics, customer proof, momentum
    • Market (Slide 9): TAM/SAM/SOM, why huge
    • Business Model (Slide 10): Unit economics, revenue streams, path to profitability
    • Differentiation (Slide 11): Why you vs. competition, defensibility
    • Team (Slide 12): Why you're uniquely positioned to win
    • Vision (Slide 13): Where this goes, potential exits, impact
    • Ask (Slide 14): Raising $X at $Y valuation, use of funds, milestones
  2. Data Room Contents

    • Financial Model: 3-year projection, assumptions documented
    • Cap Table: Current ownership, option pool, SAFEs/notes
    • Metrics Deck: Weekly/monthly dashboards, cohort analysis
    • Customer References: 3-5 referenceable customers
    • Legal: Incorporation docs, IP assignments, material contracts
    • Compliance: Privacy policy, terms of service, security practices
  3. FAQ Preparation

    • Competition: "How are you different from [X]?"
    • Market Size: "Is market big enough?"
    • Traction: "Why is growth slowing/accelerating?"
    • Unit Economics: "When will CAC payback improve?"
    • Team: "What's your background in this space?"
    • Risks: "What keeps you up at night?"
  4. Pitch Practice

    • 10-Minute Version: Compressed for first meetings
    • 30-Minute Version: Full story for partner meetings
    • Q&A: Practice answering tough questions
    • Objection Handling: Prepare for common pushback

Output Template:

Investor Pitch Package

Pitch Deck Structure (14 Slides):

1. Title Slide
   - Company name, tagline, your name/title
   - "Raising $X Seed Round"

2. Hook / Traction Slide
   - Leading metric: "$X MRR growing X% MoM"
   - Customer logo bar (if impressive)
   - One-liner: "We help [customer] achieve [outcome]"

3. Problem
   - 3 pain points, quantified
   - "Current cost: $X/year or X hours/week"
   - Visual: Before state illustration

4. Solution
   - 3-step how it works
   - Key innovation/insight
   - Visual: After state illustration

5. Product Demo
   - Screenshots or video embed
   - Focus on aha moment
   - Customer quote overlay

6. Why Now
   - Market shift, tech enabler, regulatory change
   - "This wasn't possible until [X]"

7. Traction
   - Growth chart (MRR, customers, etc.)
   - 3-5 key metrics
   - Cohort retention curve

8. Customer Proof
   - 2-3 case studies with metrics
   - "[Customer] achieved [X result] in [Y time]"
   - Logos if recognizable

9. Market Opportunity
   - TAM/SAM/SOM with methodology
   - "Capturing X% of $Xbn market = $Xm opportunity"
   - Market growth rate

10. Business Model
    - Revenue streams
    - Unit economics: CAC, LTV, payback
    - Path to profitability

11. Competitive Landscape
    - 2x2 matrix positioning
    - "We're the only ones who [unique capability]"
    - Defensibility moats

12. Team
    - Founder photos, titles, 1-line bios
    - Relevant experience, prior exits, domain expertise
    - Key hires planned

13. Vision
    - 3-year milestones
    - Potential exit comps ($X acquisition, $Xbn IPO)
    - Impact on industry/world

14. Ask
    - "Raising $X at $Y pre-money"
    - Use of funds (pie chart)
    - Milestones to achieve

Appendix Slides:
- Detailed financials
- Go-to-market plan
- Product roadmap
- Customer references

Data Room Contents:

Folder Structure:
├── 01_Company_Overview
│   ├── Pitch_Deck.pdf
│   ├── One_Pager.pdf
│   └── Company_Summary.docx
├── 02_Financials
│   ├── Financial_Model.xlsx
│   ├── Metrics_Dashboard.pdf
│   ├── Unit_Economics.pdf
│   └── Cap_Table.xlsx
├── 03_Traction
│   ├── Growth_Charts.pdf
│   ├── Cohort_Analysis.pdf
│   └── Customer_Case_Studies.pdf
├── 04_Team
│   ├── Team_Bios.pdf
│   ├── Org_Chart.pdf
│   └── Advisor_List.pdf
├── 05_Legal
│   ├── Certificate_of_Incorporation.pdf
│   ├── IP_Assignments.pdf
│   └── Material_Contracts.pdf
└── 06_Product
    ├── Product_Roadmap.pdf
    ├── Tech_Stack.pdf
    └── Security_Compliance.pdf

FAQ Preparation:

Competition:
Q: "How are you different from [Competitor X]?"
A: "They focus on [X], we focus on [Y]. Our customers switched because we [10x better on Z]. They can't replicate our [moat] because [reason]."

Market:
Q: "Is the market big enough?"
A: "TAM is $Xbn growing X% annually. We're targeting $Xm SAM initially, which at X% market share is $Xm ARR - sufficient for [exit outcome]."

Traction:
Q: "Why did growth slow last quarter?"
A: "Intentional: We paused marketing to improve activation from X% to X%. Now scaling again, seeing X% MoM growth."

Unit Economics:
Q: "When will CAC payback improve?"
A: "Currently X months, targeting X months. Three levers: (1) [increase ARPU via upsell], (2) [reduce CAC via content], (3) [improve retention to X%]."

Team:
Q: "Do you have experience in this industry?"
A: "Yes - I spent X years at [Company] where I [relevant experience]. [Co-founder] was [relevant role]. We've hired [domain expert] as [role]."

Risks:
Q: "What keeps you up at night?"
A: "Three things: (1) [Risk 1 + mitigation], (2) [Risk 2 + mitigation], (3) [Risk 3 + mitigation]. We're proactively addressing each."

Pitch Delivery:

10-Minute Version (Initial Meetings):
├── Problem + Solution: 3 min
├── Traction: 2 min
├── Market + Business Model: 2 min
├── Team + Ask: 2 min
└── Q&A: 1 min

30-Minute Version (Partner Meetings):
├── Hook: 1 min
├── Problem: 3 min
├── Solution + Demo: 5 min
├── Traction + Customers: 5 min
├── Market: 3 min
├── Business Model: 3 min
├── Competition: 2 min
├── Team: 2 min
├── Vision + Ask: 2 min
└── Q&A: 4 min

Practice Checklist:
- [ ] Pitched to 5 friendly investors (get feedback)
- [ ] Anticipate 10 toughest questions, prepared answers
- [ ] Demoed product 20+ times (smooth, confident)
- [ ] Memorized key metrics (don't read slides)
- [ ] Tested different opening hooks (which resonates?)

Input Requirements

Required:

  • business_metrics: MRR, growth rate, customers, retention, unit economics
  • growth_trajectory: Historical and projected growth
  • use_of_funds: Planned allocation of capital
  • current_runway: Months of cash remaining

Optional:

  • target_raise: Desired round size (if not, we'll calculate)
  • comparable_companies: Similar companies for benchmarking
  • team_background: Founder experience and credentials

Example Input:

{
  "business_metrics": {
    "mrr": 50000,
    "mom_growth": 12,
    "customers": 150,
    "cac": 200,
    "ltv": 900,
    "churn": 5,
    "nrr": 105
  },
  "growth_trajectory": {
    "current_arr": 600000,
    "projected_arr_12mo": 1800000
  },
  "use_of_funds": {
    "engineering": 400000,
    "sales_marketing": 300000,
    "operations": 150000,
    "buffer": 50000
  },
  "current_runway": 8
}

Output Structure

{
  "funding_stage": "seed",
  "raise_amount": {
    "min": 750000,
    "target": 1000000,
    "max": 1500000
  },
  "valuation_range": {
    "low": 8000000,
    "mid": 10000000,
    "high": 12000000
  },
  "investor_targets": [
    {
      "firm": "Sequoia Scout Program",
      "partner": "Jane Doe",
      "thesis_fit": "Strong - recently invested in similar SaaS company"
    }
  ],
  "pitch_narrative": {
    "hook": "$50K MRR growing 12% MoM in fragmented $5B market",
    "traction": {"mrr": 50000, "mom_growth": 12, "nrr": 105},
    "vision": "Become category leader in vertical SaaS for $X market"
  },
  "milestones_to_unlock": [
    {"milestone": "Reach $75K MRR", "timeline": "6 weeks"},
    {"milestone": "Achieve LTV:CAC > 4:1", "timeline": "8 weeks"}
  ],
  "timeline": {
    "prep_weeks": 6,
    "raise_weeks": 12
  }
}

Integration with Other Agents

Receives Input From:

business-model: Financial metrics, unit economics, projections market-intelligence: TAM/SAM/SOM for pitch value-proposition: Differentiation for competitive positioning

Provides Input To:

execution: Fundraising becomes a sprint, impacts roadmap validation: Investor feedback = market validation

Best Practices

  1. Raise When Strong: Don't fundraise out of desperation
  2. Multiple Term Sheets: Create competition, better terms
  3. Know Your Numbers: Investors will drill into metrics
  4. Tell a Story: Data + narrative, not just data
  5. Move Fast: Fundraising takes 2x longer than expected

Common Pitfalls

  • ❌ Raising too early (weak metrics scare investors)
  • ❌ Raising too late (running out of runway = desperate)
  • ❌ Unclear use of funds ("we'll figure it out")
  • ❌ Inflated valuation (harder to raise next round)
  • ✅ Raise when strong, clear plan, realistic valuation

This agent maximizes fundraising success while minimizing dilution and time distraction.