How did we raise pre-seed funding without any customers?

Hi there,

We have a product www.usewerk.com that is designed for remote team collaboration and provide voice chat, task manager, thread chat, screen sharing and documentation features. We have started to build Werk at the beginning of this year and we have launched the MVP in July. Here is how we raised pre-seed funding without any customer, not even user.

  • Instead of the idea or product, the team is the most important factor for investors.

While we were meeting with investors, their most interest is our co-founder's background and experiences. Because they first want to believe in the team If they could achieve what they are building. If you have related experiences about the sector you are in, or If you have strong management skills, you and your team definitely have advantages. Our co-founders have 15 years of UI / UX background + 2 different saas products ( one of them is failed )

  • Regularly updates are one of the key points that you have to do

while negotiations continue, you should regularly update your potential investors about your MVP, hiring and new team members, landing page stats, demo and feedback meetings and your goals and roadmaps. This gives them that you are passionate about your product and go ahead. Be honest and avoid fake plans or updates. Ask their opinion and suggestions about your plans. as Werk, we were updating our potential investors every week and pushing them to meet for briefings.

  • Show your mission and vision with a business plan and financial projections

Financial projections are very good to show your vision and how to reach your goal. We have prepared a very detailed 2 years financial projection and logical 5 years financial projection. We both knew that things are going to change but it's all about the vision and what logic and mindset you have.

  • If you are all okay until here, well planned and researched marketing plan will get your money from the investor.

Everything is okay about the team, the MVP, business plan and financials. So what then? Very well-planned marketing plan. You should be very clear about your marketing plan because marketing is where you should spend your money most and most carefully. Although Most people think that If the idea and the product are ready and work, they could get the money, the most crucial thing that how you sell it and this is what investors care about. ı can assure you that we have raised the money with a good financial plan and a well-structured marketing plan.

  • Be careful about how do you differentiate yourself from your competitors

If you have a product that some of the people already have it, there is no meaning to build it. You have to put something different that other products don't have. Investors are very careful about this and they are asking a lot of questions about it. Be rigorous about what problem are you solving that your competitors don't and how you are going to beat them

  1. 1

    Hi @Poyraz35, great product, hope you find customers soon!
    How many investors did you talk with in the process? Did you look for them, or did they find you? How long had it taken from negation start to receive money in your case?

    1. 1

      Hi there,

      Thank you for your asking. We have met 12 investors and half of them are global. We still update them as they wish for the next round (seed). Most of them reached us via reddit, crunchbase, quora and locals already knew our founders but we have looked few of them. The negotiations took 3 months to dealing which is really fast because approximately it takes 5-6 months to get money on your pocket

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