What I learned about fundraising on early-stage from David Thacker, General Partner, Greylock

1. Some founders raise way too little capital in their pre-seed or seed round. They don’t give themselves enough time or enough runway to experiment.

2. You rarely see a product come out of the gate where, magically on day one, there’s this fantastic product-market fit.

3. Even the most successful tech companies were on a pretty long journey to figure out what they needed to do in their product. To really get it to resonate with users and which users it is would resonate with.

4. Try to raise adequate funding to give yourself some runway for that.

5. One of the most challenging fundraising scenarios is where:
– you raise some money,
– you haven’t really proven product-market fit,
–and you’re trying to get us to give more capital.

That can be a tough sell to investors.

6. Raise enough money.

Source: https://techcrunch.com/2021/10/05/finding-product-market-fit-from-the-earliest-stages-through-growth

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I write summaries about Startups, SaaS, Growth and working on my current startup Getlanding.io.