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Insights from our September 20th Get Funded! Sessions

Author

Serac Ventures
September 23, 2024

Reliable Resources for Raising Capital by Darrel Frater

Welcome to the 4th 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: Anastasia Simon, Managing Director at Techstars WaterTech + Sustainability
    ​Investing up to $120K into each company, the Techstars WaterTech + Sustainability Accelerator is focused on supporting and advancing tech startups in water technology, sustainability, and hydrologic innovation.

  • Session #2: Bryson Hearne, Associate at ResilienceVC
    ​ResilienceVC is a seed stage embedded fintech fund investing $1M on average in scalable startups that drive returns & resilience.

We also had our first Get Funded! Live In-Person event where 10 founders pitched active VCs in the Oklahoma City ecosystem.

Investors:

​​Founders:

​​Moderated by Darrel Frater, Senior Associate at Serac Ventures

2. Office Hours Recap:

Key Takeaways from the September 20, 2024 Session:

  • Anastasia Simon: Anastasia highlighted the importance of founder resilience and market knowledge, emphasizing building relationships with accelerator program directors. Her tip for elevator pitches? "Keep it concise and engaging to spark interest.”

  • Bryson Hearne: Bryson shared insights on fintech customer acquisition through embedded models and discussed ResilienceVC's impact-focused investment strategy while ensuring market-rate returns.

  • Highlighted Pitches:
    1. Ido Cohen, Founder of Fluento

    Fluento is an AI companion that helps improve English skills during work meetings. Ido’s pitch stood out because of his ability to showcase the seamlessness of how his product adds value to users and his experience building similar products in the past.

    Takeaway: When building your product roadmap, ensure it aligns with your users’ real-world needs to enhance engagement and adoption.

    2. Dmitri Love, Founder of Peas

    Peas is an AI-powered banking solution that allows couples and groups to manage joint finances without needing a joint account. Dimitri’s pitch was impressive for his ability to articulate his unique value proposition targeting a specific pain point for this customers.

    Takeaway: Exploring partnerships, such as with credit unions, can help scale customer acquisition and offer new features that appeal to specific user groups.

3. Funding Resources:

Resources of the Week:

  • Builders + Backers Idea Accelerator: Up to $5K Grant | The Builders + Backers Idea Accelerator is a free, virtual, idea-stage program that takes aspiring founders like you from concept to first launch.
    🗓️ Apply by 9/29

  • 2024 BGV Pitch Competition: Up to $15K | Black Girl Ventures has opened applications to their 2024 Pitch Program, where selected founders are provided pitch coaching, and the opportunity to pitch in BGV’s annual event.

    🗓️ Apply by 11/6

Book of the Week:

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: Danielle Bush, Founder of Fun on the Run Plus One

  • Overview: Danielle Bush won the in-person Get Funded! Live pitch competition last week in Oklahoma City. Fun on the Run Plus One is a social network where people with shared interests can instantly turn strangers into friends.

  • Their Success Story: Danielle’s victory at the Get Funded! Live event, coupled with her exceptional pitch, helped her secure the win among a talented group of founders. She continues to drive innovation in her business model and seeks to expand her services regionally.

  • Future Plans: Danielle plans to grow her operations, expand her customer base, and leverage her win to explore funding opportunities that will allow her to scale faster.

What we can take away: Her success reminds us of the importance of clear communication and the power of engaging pitches. A great pitch doesn't just inform—it excites.

5. Investor Insights:

  • Stage: Pre-Seed

  • Industry: WaterTech and Sustainability

  • Check Size: Up to $120K

  • Geography: Global

  • Other Criteria: Founders must be willing to participate in-person in Alabama during duration of the program

  • Stage: Seed

  • Industry: Fintech

  • Check Size: $1M

  • Geography: US

  • Other Criteria: A primary focus on embedded Fintech with an emphasis on customer acquisition strategies and impact investment in financial resilience for underserved communities

Pro Tips:

  • Anastasia Simon: “Foster strong relationships with accelerator program directors—it opens doors.”

  • Bryson Hearne: “Prioritize validating your market fit through customer discovery before scaling.”

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? Be sure to join us for the next Get Funded! Office Hours session. You can view and register for upcoming sessions using this Calendar.

Be on the look out for our newsletter next week 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 targets companies at the seed stage writing checks between $250K - $750K. Our core sectors include fintech, SaaS, and commerce enablement. Learn more at SeracVentures.vc.