> Fun Fact: 95% of money in the round came from investors who were already paying customers — including VCs, angel investors, family offices, hedge fund managers, founders and executives
This is good, as customers who are paying do tend to believe in the product offering and direction.
For our startup ( https://microco.sm/ ) we have a similar story, our first £150k of investment came from users of our software, people already using forums and who believe deeply in the story we're telling about where we want to take forums. It was also quick... the first £50k took 15 hours to raise, the £100k follow-on took 180 minutes.
Unfortunately for us, our customers aren't VCs and angels. So this is extremely unlikely to continue to scale. Oh well, time to find angels and early-stage investors in London who will help us reach the next set of product and revenue milestones and the ones after.
This is good, as customers who are paying do tend to believe in the product offering and direction.
For our startup ( https://microco.sm/ ) we have a similar story, our first £150k of investment came from users of our software, people already using forums and who believe deeply in the story we're telling about where we want to take forums. It was also quick... the first £50k took 15 hours to raise, the £100k follow-on took 180 minutes.
Unfortunately for us, our customers aren't VCs and angels. So this is extremely unlikely to continue to scale. Oh well, time to find angels and early-stage investors in London who will help us reach the next set of product and revenue milestones and the ones after.