Andy leaver SaaStock 2018 - Going from Seed to Series A in Europe - Going from Seed to Series A in Europe

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Information about Andy leaver SaaStock 2018 - Going from Seed to Series A in Europe -...

Published on October 29, 2018

Author: aleaver

Source: slideshare.net

1. The VC Roadshow - Avoid Being in the 75%

2. 2 My Journey - 5 startups to IPO as 1st VP International

3. Crane invests into Intelligent Computing companies addressing the enterprise

4. 4 Our portfolio of 20 deeply technical companies

5. 5 The typical ratio of enterprise startups that make it from startup to seed to SeriesAin Europe every year c25 100 Incubators Accelerators Spin-outs Pre-funded Startups Seed Rounds >$500k Series A Rounds >$5m 100’s

6. ICON What are the most common mistakes founders make? • Don’t iterate often enough to focus on what customers are telling them • Fail to build an early sales process to double down on early customer wins • Scale up an expensive commercial team (VP Sales etc) prematurely

7. • Spending too much time with large corporate “Innovation Teams” who are not your buyer! • You’re probably not charging enough to your first customers • Not listening for upsell opportunities • Want the product to be 100% perfect • Many startups are not product led - they’re giving away too many services early on What else I’ve learned from our own portfolio

8. Customer Centricity

9. Know what investors are looking for. “Seed is a phase.” Angel Seed Late/Post Seed - Raising up to $1m - Raising on a pitch deck - Pre-product - Raising up to $1-2m - Up to c$20-50k MRR - Handful of reference accounts - Raising $2-4m - >$50k MRR - On or nearing product/market - Early repeatable sales - One or two upsells - Need to hit 1-3 key milestones to unlock a Series A

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 Thank you crane.vc Thank you!! @andyleaver


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