Blomfield: Profitable $1M ARR YC startup accepted lower valuation due to fundraising anxiety
Tom Blomfield · Tom Blomfield: Do the Best All Raise Pre-Demo Day & YC's Fundraising Advice to Startups | E 1152 · 20VC with Harry Stebbings · May 13, 2024 · at 34:19
Tom Blomfield is a Group Partner at Y Combinator describing a specific company in his YC batch that accepted a preemptive funding round early instead of waiting for Demo Day.
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“And this happened to a couple of my companies, this batch, where a phenomenal, like, crazy all-star team, like, ridiculous, like, every sort of pedigree you'd want amazing product, profitable, like, more than a million in revenue, and that just, the founder was just so nervous about fundraising that she took an, it was fine, it wasn't terrible, It was fine, but it was heartbreaking for me because I knew that if she just trusted the process and waited till this sort of auction process, she'd get a better round.”
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