I started pitching June 24th, signed a term sheet on July 17th, and by August, I closed a $3M seed round for my new company, Most Days, a social app f

My Step-by-Step Process to Raising a $3M Seed Round

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2021-05-25 16:30:07

I started pitching June 24th, signed a term sheet on July 17th, and by August, I closed a $3M seed round for my new company, Most Days, a social app for healthy behaviors and community support. The round was led by Freestyle.VC, with participation from Harrison Metal, Village Global, and Correlation Ventures.

Like many founders, I was a little apprehensive about fundraising in the middle of a pandemic – but what was most remarkable was how similar the process was to pre-pandemic days. All of the same elements are still there: the importance of telling a great story, targeting the right investors, anticipating hard questions.

I won’t pretend to be an expert so treat this like you would a buffet (remember those?): take what looks right, leave the rest.

What’s the difference between pre-seed and seed? I’ve been an angel investor in a number of seed rounds, mostly betting on friends and former colleagues. But the “pre-seed” designation was a new one for me – and it was equally surprising to see how high the bar for a seed is.