Raising $172M for Underinvested Founders

Building strong relationships is crucial for successful fundraising.

"It's a relationships business and you have to build the relationship over time."

- Stacy emphasized the need to build trust with investors. - She invested time to nurture relationships despite the slow process. - Founders should prioritize relationship-building in their fundraising efforts.

Persistence is key when facing numerous rejections in fundraising.

"Most of the people we talked to said no... but enough people said yes."

- Stacy persisted despite many rejections. - She focused on those who believed in her mission. - Founders should stay resilient and keep pitching.

Saying no can help founders prioritize and find their true purpose.

"Everybody wanted a thing from me after TaskRabbit... But that centeredness brought me to, what do I really want?"

- Stacy found that declining opportunities helped her focus. - She emphasizes aligning actions with personal purpose. - Founders can benefit from setting boundaries to achieve clarity.

Optimism about AI can drive innovation and opportunity.

"I'm optimistic... Just like technology has helped advance us humans in our learning, that's what I think is going to continue to happen in the future."

- Stacy believes AI will enhance human capabilities. - She emphasizes keeping humans in the equation. - Founders can embrace AI to innovate responsibly.

Understanding what investors look for can help founders secure funding.

"I was just impressed with him, his leadership, his vision... So by the time the Series B came around, we had closed some capital... and we ultimately co-led the Series B."

- Stacy valued the founder's leadership and vision. - Building relationships over time led to investment. - Founders should focus on demonstrating leadership and building investor relationships.

Founders should take charge in managing their boards to maximize value.

"I encourage a lot of CEOs to join a board... It's not about the advice that you give, it's about the questions that you ask."

- Stacy suggests founders should lead board interactions. - She highlights the importance of board members asking insightful questions. - Effective board management can enhance company success.

Active board members can provide valuable guidance and support to founders.

"I'm on the board of Coactive. A lot of VCs don't want to take board seats. I'm not scared of it, and I understand what it means."

- Stacy believes in being a value-add board member. - She emphasizes the importance of asking the right questions. - Founders can gain from board members who actively engage.

Building a strong team is essential for scaling a new venture effectively.

"One thing I did know how to do is hire and build a team... So that's why I hired Seda. I brought Seda in to co-found it with me."

- Stacy leveraged her experience to assemble an institutional-grade team. - She recognized the importance of complementary skills. - Founders should prioritize team building to support growth.

Understanding the challenges can help founders navigate fundraising during difficult times.

"It was hard... Everybody said, this was January 2023... this is the hardest time to raise money. You should wait."

- Stacy persisted despite advice to wait. - She focused on building relationships and refining her pitch. - Founders should stay committed and adaptable when raising funds in tough markets.

Taking time to reflect can help founders find clarity for their next venture.

"I promised myself I'd say no to everything for six months, and that was hard... The good opportunities will still come."

- Stacy found that pausing allowed better opportunities to emerge. - She emphasizes the value of rest and reflection in decision-making. - Founders can benefit from taking deliberate time off after an exit.