Hi, tech startup co-founder (CEO) here. Our product is a web/mobile app, aimed at travelers who want to explore a given community, near or far. We provide an end-to-end discovery, booking, and social experience. Hopefully that’s vague enough to not get banned for promotion but still give context for my question lol.
We are currently raising a pre-seed/angel round of $500k to give us 7-8 months to build/market the latest iteration of our MVP after two successful prototypes.
These are the stats we plan to take to investor meetings:
- 4.7k users signed up on our first two prototypes with <$500 spent on marketing
- 5% conversion rate on our current landing page with non-targeted (organic social) traffic
- 5.3k emails ready to go for a launch campaign
- 72% of survey respondents (175 surveyed) said they would use an app that has our functionality
- 40% of survey respondents (same survey) said they used too many apps/websites to plan their travel, which was one of our big assumptions
My question here is - are these stats attractive enough to raise the kind of money we’re aiming for?
We also have financial projections going out 3 years showing us breaking even in ~18 months with an additional cash injection near MVP launch in late Q2 2024. We also have a full business summary with market analysis, monetization plans, etc.
I’m just racking my brain to make sure we have all the gaps covered once we land these meetings. I don’t want to waste anyone’s time.
Please let me know if you see anything missing or irrelevant. Happy to answer any questions as well.
Thanks for reading! <3
I have just gone through a similar conquest you are about to embark on. We just launched our app in Oct with 10k users now and gearing up for a seed round.
Watch the Y Combinator video libraries.
The video on: Tempting startup ideas you should avoid, this one definitely hit home for us.
You could definitely raise a 500k pre seed with what you have regarding your surveys and pre registrations.
Probably a good idea to make sure you are solving a real problem, so get out and try and figure out if this problem you solve is that excruciatingly painful for people they will actually use your product.
Go for it 🔥 Good luck
Thanks!
Yeah the problems we solve are very real. There are tons of inefficiencies in the way people currently navigate their immediate surroundings, or really any location-specific info.
We can also digitize tons of needless physical media like flyers, menus, maps, billboards, etc. which saves print costs and reduces environmental impact.
I will definitely check out the Y-Combinator videos. They have already been popping up on my YT recommendations anyway…