YC
Fundraising Panel at Female Founders Conference 2016
@ Y Combinator
05/21/16
Takeaways
TF
Talia Frenkel
05/21/16
@ Y Combinator
I'm Talia Frenkel, founder of L L, which creates safe and natural personal care products that give back. We raised our seed round of just over two and a half million dollars shortly after being part of Y Combinator in the summer of 2015.
KG
Katelyn Gleason
05/21/16
@ Y Combinator
I'm Caitlin Gleason, founder and CEO of Eligible, a healthcare infrastructure company that processes medical eligibility and claims. I was part of Y Combinator in summer 2012, raised about 1.6 million, grew the company to profitability, and recently raised a little over 20 million.
AR
Aarthi Ramamurthy
05/21/16
@ Y Combinator
I'm Aarthi Ramamurthy, founder and CEO of Lumoid, a try-before-you-buy service for consumer electronics. We were part of Y Combinator in summer 2013 and have raised about 3.5 million so far, with another round closing soon.
LW
Liz Wessel
05/21/16
@ Y Combinator
I'm Liz Wessel, co-founder and CEO of WayUp, the largest marketplace for college students to find jobs and internships. We were part of Y Combinator in winter 2015 and have raised just over nine million dollars.
KG
Katelyn Gleason
05/21/16
@ Y Combinator
I had no choice but to bootstrap my company for the first year. I focused on optimizing for a fast and efficient fundraising process because I was warned that a long fundraising process could kill a company.
KG
Katelyn Gleason
05/21/16
@ Y Combinator
I raised 1.6 million and obsessively built the company for three years, achieving 8.4X growth in one year, which led to a position where I didn't need the money when I went to raise again.
TF
Talia Frenkel
05/21/16
@ Y Combinator
When pitching to investors, it's crucial to speak their language, focusing on growth, traction, and market opportunity, especially when discussing products that address serious pain points.
LW
Liz Wessel
05/21/16
@ Y Combinator
I prepared for fundraising by knowing our numbers inside and out, which allowed me to confidently answer any questions investors had during meetings.
LW
Liz Wessel
05/21/16
@ Y Combinator
I leveraged personal connections to get introductions to investors, which was crucial in raising my first million before Y Combinator.
LW
Liz Wessel
05/21/16
@ Y Combinator
The first check is the hardest to secure, but once you get it, it becomes easier to connect with other investors through their networks.
LW
Liz Wessel
05/21/16
@ Y Combinator
It's important to understand the implications of raising a large round, such as giving up control and how it affects future fundraising and equity distribution.
LW
Liz Wessel
05/21/16
@ Y Combinator
I believe that asking questions and learning from others who have successfully raised capital is essential for navigating the fundraising process.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
Every Monday, I would publish a blog post that explained a specific term or concept related to fundraising.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
It's really bad to go into a meeting with an investor and not understand the specific terms being negotiated.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
If you don't know something during negotiations, it's okay to admit it and say you need to consult with your co-founder.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
You can determine whether you need to raise funds by analyzing your metrics and understanding your bottom line.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
Not every business needs to fundraise; many successful companies have built profitability without raising money.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
When investors say no, be graceful about it; their initial rejection doesn't mean a no forever.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
It's important to maintain good relationships with investors, as they can provide valuable insights even if they don't invest.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
Confidence is crucial when pitching to investors; it involves discussing your accomplishments and knowing when to negotiate.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
Prepare for meetings by knowing your key performance indicators and being ready to discuss them succinctly.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
Telling a compelling story about how you plan to build a multi-billion dollar company is essential when pitching to institutional funds.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
When an investor doesn't understand your business, view it as an opportunity to educate them rather than taking it personally.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
Don't give up on your vision, even when faced with skepticism; trust your instincts and knowledge about your business.
YC
Y Combinator Cast
05/21/16
@ Y Combinator
You are likely much more knowledgeable about your business than the investors you pitch to, so be confident in your insights.