Build a Phenomenal Product, Brand, and Team and you won't need VCs

Welcome to the 3rd edition of The Get Funded! Newsletter—where we break down the latest from our Get Funded! Office Hours session on Twitter/X and equip you with tools to take your fundraising to the next level.

Missed this session? Listen to the recording here.

1. Session Overview:

This week, we hosted two insightful sessions with our fantastic guest investors:

• Session #1: Christian Karrer, Director of Selection at 43North
  Every year, 43North invests $1M for 5% equity each into 5 early stage startups to participate in their accelerator in Buffalo, NY.

• Session #2: Steve Bernard, Investment Associate at Techstars Boston Accelerator
  Twice a year, Techstars Boston Accelerator invests up to $120K each into 12 early stage companies with an emphasis on founders building in HealthTech, CleanTech, and B2B SaaS.

We also had our Pre-Show Founder interview with Rumaiza Ali, Founder & CEO at Wedy, a booking platform for engaged couples to bundle wedding services into an all-inclusive package. Recording here.

2. Office Hours Recap:

Key Takeaways from the August 30th Session:

• Christian Karrer: Emphasized the importance of concise, compelling pitches that clearly define the problem and the unique solution.

• Steve Bernard: Discussed the significance of market validation and having early customer traction before approaching accelerators.

• Highlighted Pitches:
  1. Gabriel Rucker, CEO and Co-Founder of Founding Titans

  Gabriel introduced Founding Titans, a community-focused relationship optimization platform designed to help early-stage founders overcome growth challenges. The platform combines social networking and relationship management tools to connect founders with vetted service providers, communities, and events. With over 7,000 users on their waitlist, including one of the largest communities in Austin, Texas, Founding Titans is already gaining significant traction.

  Key Takeaway: Leveraging a strong waitlist and strategic partnerships can be a powerful way to build momentum before launching your product .

  2. Courtney Caldwell, Co-Founder & CEO of ShearShare
  Courtney pitched ShearShare, a platform that allows salon, barbershop, and spa owners to monetize their excess capacity by renting out their spaces, similar to how Airbnb operates in the hospitality sector. The platform is active in over 960 cities, showcasing rapid growth and scalability.

  Key Takeaway: Highlighting specific metrics like city growth and the potential market size can make your pitch more compelling and demonstrate traction to investors .

3. Funding Resources:

Resources of the Week:

• ResilienceVC’s Fintech List: Resources For Financial Resilience Startups by ResilienceVC.

• 1984 Ventures’ Cap Table Worksheet: A Cap Table Worksheet created by 1984 Ventures to help founders calculate how much dilution they are taking on.

Book of the Week:

• Pattern Breakers: Why Some Start-Ups Change the Future:
  This book by Mike Maples Jr. and Peter Ziebelman dives into how certain startups break the mold and shape the future by challenging conventional wisdom and embracing bold, visionary ideas. It's a must-read for founders looking to understand what sets successful disruptors apart from the rest. The authors provide actionable insights on how to identify and leverage patterns in markets to create groundbreaking innovations.

Alternative Funding Sources:

• Access up to $2M in non-dilutive debt financing. Request funding here.

• Raise up to $5M in equity capital through a Community Round. Request information here.

4. Founder Spotlight:

Featured Founder: Rumaiza Ali, Founder & CEO at Wedy

• Overview: Rumaiza Ali is leading the charge in transforming the wedding industry with Wedy, a platform that bundles wedding services into a transparent and all-inclusive package.

• Their Success Story: Featured on Shark Tank (season 15, episode 20), Wedy has already facilitated over 1,600 bookings in the past 12 months, generating $1.7 million in gross revenue.

• Future Plans: Rumaiza plans to expand Wedy internationally and into other life celebrations such as honeymoons and baby showers, making the platform a one-stop-shop for life’s most significant moments.

What we can take away: Focus on building a platform that solves a real pain point for both customers and service providers, and be strategic in leveraging media opportunities like Shark Tank to maximize exposure.

5. Investor Insights:

• Christian Karrer, Director of Selection at 43North:

  • Stage: Pre-Seed/Seed

  • Industry: Open to all industries

  • Check Size: $1M for 5% equity

  • Geography: Must be willing to relocate to Buffalo, NY for the duration of the program

• Steve Bernard, Investment Associate at Techstars Boston Accelerator:

  • Stage: Pre-Seed

  • Industry: Agnostic with a preference for HealthTech, CleanTech, B2B SaaS

  • Check Size: $120K

  • Geography: Must be willing to spend time in Boston, MA for the duration of the program

Pro Tips:

• From Christian Karrer: "Your pitch should be a narrative that not only sells your solution but also clearly defines the problem."

• From Steve Bernard: "Early customer traction is your best leverage when seeking investment."

6. Tweet of the Week:

That’s all for this week’s edition of The Get Funded! Newsletter. We hope you found these insights valuable as you continue your journey to securing funding.

What’s next? 
Next week we are off for our Get Funded series as we are hosting the Sports, Tech, and Venture Summit in Tulsa, Oklahoma on September 6-7th.

We will return the following week. You can register for upcoming sessions using this Calendar (will update with Guests this week).

Be on the look out for the next newsletter where we’ll bring you more actionable advice, resources, and success stories.

Let’s All, Get Funded!

Best,
Darrel Frater
Investor at Serac Ventures
Twitter/X | Linkedin | Preneur

P.S. If you enjoyed this newsletter, forward it to a founder you know who could benefit from these insights!

P.S.S. Got ideas or suggestions for Get Funded? Shoot me an email at [email protected] for us to discuss!

About Serac: Serac Ventures is an early-stage venture capital firm that invests in founders bringing new perspectives to solve hard problems. We target companies at the seed stage writing checks between $250K and $750K. Our core sectors include fintech, SaaS, and Commerce Enablement. Learn more and consider submitting for funding at SeracVentures.vc.