Flora: Freshpaint met 160 investors over 4.5 months to raise $1.6M
Brad Flora · How Startup Fundraising Works | Startup School · Y Combinator · Mar 29, 2023 · at 6:13
Brad Flora, YC Group Partner, uses YC startup Freshpaint's seed fundraising data to illustrate the grind of modern startup fundraising.
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“They met with 160 investors and 39 of them said yes, which is a very high conversion rate. But the check range was all over the place. They had people write five K checks and people write 200 K checks. All right. Not everybody was some fancy VC that could write a giant check, and it took them four months and 18 days to get through all these meetings and close all these deals, and that was to raise 1.6 million dollars.”
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