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by tapp
4196 days ago
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@dmor: First - congratulations to you and your team on the raise. Second - a question: your last post on the topic from June 28th announcing your 2M second seed funding said that after 27 consecutive months spent pursuing some kind of funding, it was time for you to take a break from fundraising mode. Given that was less than 6 months ago, it doesn't seem like you took much of a break after all :) Would you be willing to provide more insight and details re: what exactly changed? https://medium.com/mattermark-daily/mattermark-has-raised-2m... |
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After we announced the 2nd seed round the interest in us increased and we ended up raising more, and then when Brad Feld (at Foundry Group) offered to do the FG Angels syndicate on AngelList I figured "why not?" and I was curious to see the internal mechanics of doing one of those. So basically we raised because we've always be fans of "take money when you can".
By this point we had a ton of momentum in sales, had clarified our vision a ton in our month-long company retreat in August, and were not in a position of desperation for once. I felt like I should take heed of the old advice that "the best time to raise is when you don't need the money" so we did some analysis, had some coffees, and picked 6 firms to pitch. We committed to testing the market again.
This time, it worked.
This stuff is just messy.