LeadFuze raised $150k from Rob Walling, David Hauser, and Adam Gustafson
Justin McGill · EP 537: Raised $150k Then CTO Left, Now He's Cruising $30k MRR with LeadFuze CEO Justin McGill · Jan 12, 2017 · at 3:47
Justin McGill, founder and CEO of LeadFuze, details the company's initial funding round and angel investor syndicate.
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“We just recently raised some money, like a small round, a 150,000. We may end up adding another a 100,000 or so, but we raised a 150,000. We've got some awesome investors like Rob Walling of drip, who I know you've talked about their product. They just recently sold the lead pages, but he's an investor. David Hauser and Adam Gustafson are three investors currently.”
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LeadFuze CTO exited due to family strain and technical scaling limits
“So a couple of reasons, I think you know, certainly family issues we're a big part of that. You know, he was needing to be involved quite a bit on, on the product, obviously as a startup early stage, you're hustling. Right. And so when you have a wife and kids…”
McGill: LeadFuze does not plan to raise another funding round
“We don't plan on doing another round, you know, like this is going to be just basically a, it's a one shot deal. You know, we kind of have the business structured where we're not going to need to raise more.”
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“So we're at about 20, just under 20% which is way too high. And I've got a whole story for that, but and then revenue churn is right about 20% again, way too high.”
McGill bought out LeadFuze's departing CTO to recover equity
“So we, I bought him out essentially. So he's no longer, you know, he no longer has a stake.”
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“We're not doing any paid advertising, right? So I guess to Calculate our CAC here. We're kind of looking at more our salaries to be honest. So between Damien and myself kind of on the sales and marketing side, what was like where we spend time? Like I'm obviou…”