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From $1M Salary to $2.5M Funding After 150 Rejections
Manage episode 443172871 series 3473028
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From Uber and Hilton to creating a $300M AI platform.
→ The real challenges of Silicon Valley fundraising.
→ How he raised $2.5 million after meeting 130+ investors.
→ Why focusing on customer feedback changed everything.
That’s what Paul Kleen, founder of Pitchlt, an AI startup will share with us in our podcast episode.
Whether you're a first-time founder or a startup seeking your seed round, this episode is packed with actionable advice on navigating the challenges of raising funds in 2024.
Paul walks us through his step-by-step approach, from securing his first $200K check with no product to navigating the collapse of Silicon Valley Bank, working with angel investors, and finally closing the round with Silicon Road Ventures.
He also shares his biggest takeaways, including how to handle rejection, how investors think, and why you only need one investor to say “yes” to change your fate.
Key Takeaways:
- Fundraising is a Long Journey: Expect to take 100+ meetings before securing your seed round. Persistence is key, and the right investor may come late in the process.
- Focus on Phases: Break your fundraising efforts into stages, starting with friends and family, moving to angel investors, and then pitching to VC firms.
- Listen to Customers, Not Investors: Product pivots should be based on customer feedback, not investor preferences.
- FOMO Creates Urgency: Generating fear of missing out (FOMO) among investors can help you close your round faster and on favourable terms.
Whether you're looking to raise your first seed round or just interested in learning from a founder who’s been through the wringer, this episode offers practical tips for navigating today’s funding landscape. Don’t miss it!
Paul Kleen on LinkedIn: https://www.linkedin.com/in/paulkleen/
Episode on YouTube: https://youtu.be/Yawac5CXHbc
Default Global Website: https://gogloby.io/podcast/
Youtube Channel: https://www.youtube.com/channel/UCM9SzxOhqqjOckcVG7XYKFA
Default Global LinkedIn: https://www.linkedin.com/company/default-global/
Vit Koval, Host Linkedin: https://www.linkedin.com/in/vitalykoval/
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