In this episode of Fundraising Demystified, we delve into the bootstrapping and fundraising journey of Jack Hamrick, founder and CEO of Foraged, a marketplace for wild and specialty foods. Jack's realization of the untapped market for specialty foods and the need to raise awareness led him to embark on a resourceful journey. 

Uncover how Jack successfully bootstrapped in the early stages, utilizing a minimal Google ad campaign and off-the-shelf tools to build Foraged’s website. Jack's strategic approach to fundraising shines through as he emphasizes the importance of staying lean, validating ideas with strangers, and raising capital only when necessary. The episode delves into the details of Foraged's successful $3 million seed round raised in 2022, providing valuable lessons for aspiring entrepreneurs navigating the fundraising landscape. 

Tune in to learn more about Jack's fundraising journey and how he overcame the challenge of limited resources. Don't forget to leave a comment below with your biggest fundraising question!

HERE ARE SOME KEY POINTS IN THIS EPISODE

00:10 - The Importance of Early Investors in Fundraising

07:45 - Unlocking Cross-Border Network Effects

12:30 - Expanding Presence in the Local Ecosystem

16:20 - Combining Platform Marketplace, Vertical SaaS Mobile App, and Wholesale Relationships

22:50 - Mission Alignment and Understanding the Market's Goals

28:40 - The Benefits and Drawbacks of Venture Capital

37:15 - Strategic Timing of Funding Announcements and PR Strategy

ABOUT JACK HAMRICK

Jack Hamrick, the founder and CEO of Foraged, a marketplace specializing in wild and specialty foods, boasts a distinctive background in government, lobbying, and corporate employment, with a primary focus on sustainability innovation. His multifaceted experiences across various sectors, such as sustainability innovation in infrastructure development and housing financing, uniquely position him to drive innovation at Foraged.com.

Beyond his professional journey, Jack's fervor for the food industry serves as a driving force behind Foraged.com. This deep-rooted passion has propelled him to create a marketplace catering to the demand for unique and untamed culinary offerings. His comprehensive understanding of sustainability's application in diverse systems, coupled with his industry-specific knowledge, enables him to chart a distinct path within the marketplace.

Jack's remarkable ability to secure a substantial $3 million in funding underscores his profound comprehension of the industry and his capacity to articulate a compelling vision that resonates with investors. His success is a testament to his adeptness at harnessing his experiences, enthusiasm, and market insights to establish himself as a trailblazer in the realm of fundraising.

LINKS MENTIONED

You can reach Jack Harmick  on his LinkedIn account here: https://www.linkedin.com/in/jack-thomas-hamrick/

To learn more about Foraged:  https://www.foraged.com/

Hosted by Jason Kirby -

https://www.linkedin.com/in/jasonrkirby/

Subscribe to our weekly newsletter for market and industry news and tips when it comes to raising capital and growing your business - http://join.thunder.vc

Seeking to raise capital? Get your list of target VCs by creating a free profile here - https://web.thunder.vc

Looking to raise working capital? Explore tailored financing options for free by completing a profile at http://debt.thunder.vc

In this episode of Fundraising Demystified, Melissa Kwan, co-founder and CEO of eWebinar, opens up about the realities of being in survival mode before finding her footing in the business world. She discusses the challenging circumstances that led her to make the bold decision to pivot from a product company to an agency model. Despite financial constraints, Melissa's resilience and determination ultimately paid off as her company discovered the ideal product-market fit, leading to profitability within a year.

Melissa discovered that success is not solely defined by raising external investment, but rather by the ability to maintain control over critical business decisions. She shares valuable insights on how steering clear of venture capital allowed her to align her business with her personal definition of success, empowering her to live a fulfilling and sustainable entrepreneurial life.

Tune in to this inspiring episode as Melissa encourages founders to consider alternative approaches to fundraising. 

HERE ARE SOME KEY POINTS IN THIS EPISODE

05:09 - The Challenges of Bootstrapping and Survival Mode

07:17 - Why Bootstrapping is Preferred over Venture Capital

13:23 - The Ease of Selling a Company

15:50 - Considering More Than Just Price in an Acquisition

23:15 - The Importance of Shareholder Agreements

27:11 - Keeping a Clean Cap Table for Investors

34:18 - Choosing Investors Wisely and Considering Their Impact

37:52 - The Importance of Making Payroll and Financial Stability

ABOUT MELISSA KWAN

Melissa Kwan is the Co-founder and CEO of eWebinar, a SaaS solution that automates webinars and eliminates the repetitive tasks of running and onboarding in sales webinars.  Melissa is a strong advocate for bootstrapping and building businesses without relying on venture capital funding. Her entrepreneurial journey began without even knowing there were other options available. She was eager to start her own business but didn't even realize it was called a "startup." Her first company began as a product-focused business but later transformed into an agency to generate much-needed revenue. As a bootstrapped business, they accepted any project that came their way to sustain and grow. Now, with eWebinar, Melissa is embarking on her third Bootstrap startup, leveraging her extensive experience and knowledge gained from her previous ventures.

LINKS MENTIONED: 

You can reach Melissa on her LinkedIn account here: https://www.linkedin.com/in/melissakwan/

To learn more about her  eWebinar: https://ewebinar.com/

Check out Melissa’s Profitled podcast here: https://ewebinar.com/podcast

Hosted by Jason Kirby -

https://www.linkedin.com/in/jasonrkirby/

Subscribe to our weekly newsletter for market and industry news and tips when it comes to raising capital and growing your business - https://join.thunder.vc

Seeking to raise capital? Get your list of target VCs by creating a free profile here - https://web.thunder.vc

 Looking to raise debt? Explore tailored debt options for free by completing a profile at https://debt.thunder.vc

Explore how Nick’s wealth of experience and fundraising success unlocks valuable insights with a particular focus on the pivotal role of professional investors. He also emphasizes that while valuation may be important, finding the right investor who can provide expertise, contacts, and assistance in hiring is crucial for growth and success. Tune in to uncover real-life strategic approaches that Nick shared, equipping entrepreneurs at all stages with the knowledge to master fundraising.

HERE ARE SOME KEY POINTS IN THIS EPISODE

01:23 – Founder’s Dilemma: Balancing Shareholder Interests with the Risk of Short Selling

06:40 – Capitalizing on Market Strength: Timing and Regrets in Fundraising

12:15 – Beyond Valuation: Why the Right Investor Takes Precedence

19:41 – Valuation Risks Unveiled. The Perils of Overestimating in a Shifting Market

25:03 – The Power of Investor Terms, Conflict, and Reputation

32:19 – The Unpredictable Challenges of Dealing with Strategic Partners

37:53 – Facing the Unforeseen: Personal Insights into Management Changes and Deal Challenges

ABOUT NICK DESAI

Nick Desai, the seasoned serial entrepreneur and visionary CEO of Together by Renee, cutting-edge generative AI-driven healthcare app, has been a trailblazer in the startup industry. Nick has always aspired to be an entrepreneur, inspired by his father and grandfather's business ventures. After completing his graduate degree in electrical engineering at UCLA, he gained experience as an engineer and in management consulting. He then took the leap and started his first startup, learning the ins and outs of venture pitching along the way. Among his notable achievements include Heal, a groundbreaking venture focused on on-demand healthcare services. Heal's outstanding success has played a pivotal role in Nick's impressive total of $250 million raised throughout his outstanding career.

 LINKS MENTIONED

You can reach Nick Desai on his LinkedIn account here: https://www.linkedin.com/in/nickdesaiai/

To know more about his business, check out this: https://together.renee.com/

Hosted by Jason Kirby - https://www.linkedin.com/in/jasonrkirby/

Subscribe to our weekly newsletter for market and industry news and tips when it comes to raising capital and growing your business - https://join.thunder.vc

Seeking to raise capital? Get your list of target VCs by creating a free profile here - https://web.thunder.vc 

Looking to raise debt? Explore tailored debt options for free by completing a profile at https://debt.thunder.vc

In this episode of Fundraising Demystified, Lloyed Lobo, co-founder of Boast AI, talks about how they achieved success by automating processes to maintain control and minimize dilution. He shares their journey, including two previous failures, and how they automated the government incentive application process, leading to $10 million in revenue and a thriving community of tech CEOs.

He also discusses growth equity, the risks of relying solely on VC funding, generative AI, clickbait, micro-influencers, and the benefits of bootstrapping. He emphasizes the importance of building a community around your audience and defining personal success as an entrepreneur. Tune in for valuable insights on fundraising and growth strategies.

Here are some keypoints in this episode:

03:35 The importance of sales in Lloyed's journey.

06:20 Started their business through bootstrapping as a services company.

09:39 Shifting outreach strategies.

15:05 Growth equity in investing.

19:43 Focusing on building a great business.

25:22 Evaporating Fortune 500 companies.

25:20 Government cashback for R&D.

28:40 Community-led growth.

33:50 Personal definition of success.

About Lloyed Lobo

Lloyed Lobo is the co-founder of Boast.ai. He has a background in engineering and has worked at various startups throughout his career. He is also involved in building communities and has a strong belief in the power of community-led growth. Lloyd is currently working on a book about community-led growth and is actively engaged in the Traction community.

Links Mentioned: 

You can reach Lloyed Lobo on his LinkedIn account here:

https://www.linkedin.com/in/lloyedlobo/

To know more about his book,check this out: https://www.lloyedlobo.com/

To join his community: https://www.tractionconf.io/

To learn more about Boast.ai go to: https://boast.ai/

Check out Lloyed’s  podcast here https://www.youtube.com/@StartupTraction

Hosted by Jason Kirby - https://www.linkedin.com/in/jasonrkirby/ 

Thunder website - https://web.thunder.vc

In this episode of Fundraising Demystified, Mustafa Al-Adhami, co-founder and CEO of Aztek Diagnostics takes us on his incredible journey through the highs and lows of fundraising and building a medical device startup. From a modest beginning as a refugee ten years ago to now being on the cusp of bringing their revolutionary product to market, Mustafa’s story is one of perseverance, learning from mistakes, and taking risks. Join us as we delve into the challenges faced in the healthcare industry, the importance of grants and funding, and the power of staying curious and asking questions.

HERE ARE SOME KEY POINTS IN THIS EPISODE

00:00:27 Rapid antibiotic sensitivity test development.

00:05:53 Investors invest in a line.

00:12:46 Government grants can provide valuable funding for startups.

00:18:50 Surround yourself with experienced advisors.

00:23:19 Overcome obstacles and keep trying.

00:31:28 Investors value belief and assistance.

00:34:06 Ask for advice, believe in yourself.

ABOUT MUSTAFA Al-Adhami

Mustafa Al-Adhami is the co-founder and CEO of Aztek Diagnostics. He has a PhD in mechanical engineering with a focus on blood hemodynamics. Mustafa's background in research and his personal experience with his grandfather's illness inspired him to develop a rapid antibiotic sensitivity test. He is passionate about addressing the problem of antibiotic resistance and improving patient outcomes. Mustafa has navigated the challenges of building a healthcare startup, including raising funding, conducting clinical trials, and navigating regulatory processes. He believes in surrounding himself with experienced advisors and investors who can provide guidance and support.

LINKS MENTIONED

You can connect with Mustafa via LinkedIn at https://www.linkedin.com/in/maladhami/.

To know more about the company and their product you can visit Aztec Diagnostics' website at https://astekdx.com/.

Hosted by Jason Kirby - https://www.linkedin.com/in/jasonrkirby/

Thunder website - https://web.thunder.vc

In this episode of #FundraisingDemystified, Quaid Walker, the CEO and founder of Bezel, a luxury watch marketplace shares insights into their fundraising journey, including raising $8 million in a seed round from investors like Courtside Ventures, Kevin Hart, and Steve Aoki.

He discusses the decision to bring on more strategic partners before raising an A round and the importance of being intentional in their fundraising approach and touches on why they chose to delay announcing their fundraising. 

HERE ARE SOME KEY POINTS IN THIS EPISODE

03:13 The intimidating process of buying luxury watches. 

05:38 Co-founders and team assembly. 

07:41 Building beautiful, luxury products. 

15:46 Celebrities and investors' involvement. 

18:41 Fundraising challenges and strategies. 

24:01 The impact of strategic value. 

27:18 Ownership requirements and investor partnerships. 

34:07 SAFEs and founder-friendly fundraising.

40:25 Getting investors as customers.

ABOUT QUAID WALKER

Quaid Walker is the founder of Bezel, an authenticated luxury watch marketplace. Having spent most of his career at Google, Quaid developed a fascination for watches and their mechanical nature. His initial struggles in buying his first watch led him to create Bezel, a platform that offers a vast inventory of watches while ensuring authentication and trustworthiness. With a focus on providing a premium experience, Bezel's robust authentication team thoroughly inspects each watch before overnight delivery to the buyer. Quaid's goal is to ensure that every purchase meets and exceeds expectations.

LINKS MENTIONED

You can visit Bezel’s website at shop.getbezel.com to learn more about their platform and explore their vast inventory of watches.

Get in touch with Quaid Walker on LinkedIn: https://www.linkedin.com/in/quaidwalker/

Take a peek at his designs and work: quaid.io

Hosted by Jason Kirby - https://www.linkedin.com/in/jasonrkirby/ 

Thunder website - https://web.thunder.vc

In this episode of Fundraising Demystified, Nicolas Le Jeune, founder of Courtyard.io, joins the show to share his journey from working at Google and YouTube to starting his own venture. Nicolas discusses his background, his roles at Google, and his passion for music. After realizing he wanted more and to build something of his own, Nicolas launched Courtyard.io, which came with its own set of challenges.Tune in to learn more about Nicolas' journey and the inspiration behind Courtyard.io.

HERE ARE SOME KEY POINTS IN THIS EPISODE

04:18 - Starting a new company.

06:41 - NFT drops with Pokemon cards.

08:52 - Starting a company takeaway.

12:33 - Revenue growth and capitalizing the business.

18:51 - Merging Web2 and Web3 worlds.

20:27 - The power of blockchain.

23:05 - Pitching your deck in a meeting.

27:33 - NFTs bringing back the fun.

30:21 - Building the best team.

33:53 - Every meeting counts as well.

36:54 - Collectible space and Pokemon cards.

ABOUT NICOLAS LE JEUNE 

Nicolas le Jeune is the founder of Courtyard.io, a company that focuses on the intersection of NFTs (non-fungible tokens) and physical collectibles. Nicolas has a background working at Google and YouTube, where he managed music labels for YouTube and worked in sales for Google's cloud services. He left his job at Google to start Courtyard.io and has since raised funding and built a team to pursue his vision in the collectibles market.

In this episode, Juan Garcia Mansilla, the founder of Unit One, shares his journey from being a product designer in Argentina to successfully closing a $3.5 million Series A round.

Juan's story showcases the resilience and adaptability required to navigate the challenges of entrepreneurship and successfully pivot a business. He shares the process of designing, building, funding, branding, and launching a product. Tune in to hear about the pivot that Juan and his team made along the way.

HERE ARE SOME KEY POINTS IN THIS EPISODE 

06:11-  Unique ski and snowboard helmet.

10:57 -  Communicating with stakeholders.

15:03 - Designing and launching FARO.

16:50 - Revenue growth and product market fit.

21:21 - VC introduction at the worst moment.

25:15 - Focusing on product market fit.

28:24 - Traumatic due diligence process.

32:31 - Starting on the right side.

37:16 - Getting in front of investors.

39:49 - Too many rounds hurt cap table.

44:07 -  Morale and dilution in fundraising.

ABOUT JUAN GARCIA MANSILLA 

Juan Garcia Mansilla is the founder of Unit One, a company that designs and builds safety accessories for urban mobility, with a focus on cycling. He started his career as a product designer in Argentina and partnered with his boss to build their own product and company. After a pivot from the snow industry to urban mobility, Juan and his team successfully launched a new product called FARO, which received great reception and sold out quickly. They recently closed a $3.5 million Series A round with investors including Slingshot Ventures and PANUK. Juan's journey showcases his resilience, adaptability, and ability to build strong relationships with investors.

LINKS MENTIONED: 

You can learn more about Unit One's products here at unit1gear.com

Hosted by Jason Kirby - https://www.linkedin.com/in/jasonrkirby/ 

Thunder website - https://web.thunder.vc

In this episode, Michael Houck shares his journey of raising capital for his company, Launch House. He discusses how he started his entrepreneurial journey with no connections in Silicon Valley and worked his way into roles at Uber Eats and Airbnb. Houck then started Launch House during the height of the pandemic as a way to be around other people. This led to the founding of Launch House, a co-living community for founders. The concept gained attention and momentum, leading to a successful capital raise. 

HERE ARE SOME KEY POINTS IN THIS EPISODE

03:12 - Launch House gained attention and momentum.

05:28 - Zag when others zagged.

10:09 - Investors want support and excitement.

19:28 - Transition from a VC-backed company to an independent community 00:23:30 Growing a newsletter with content marketing and paid ads.

26:29 - Build a personal brand for success.

30:45 - Strategies for growth are applicable to any industry.

38:02 - Building an audience before launching.

40:46 - Superconductor breakthrough sparks investment potential.

ABOUT MICHAEL HOUCK:

Michael Houck is an entrepreneur and founder who gained attention for his role in launching and growing the co-living community, Launch House. With a background in startups like Uber Eats and Airbnb, Michael leveraged his network and innovative ideas to create a unique and successful venture. While Launch House faced challenges and eventually pivoted, Michael has since focused on building his personal brand through his popular newsletter, which has quickly gained a large following.

He is also the creator of Megaphone, a service that helps founders amplify their reach and connect with other creators. Michael's expertise in community building and content marketing makes him a valuable resource for entrepreneurs looking to grow their own brands.

LINKS MENTIONED: 

Get more tips on how to build, grow, and raise capital for your startup https://join.houck.news/ 

Connect with Michael Houck in Twitter: https://twitter.com/callmehouck

Amplify your content organically through: https://megaphone.network/

Welcome to episode 12 of Fundraising Demystified. In this episode, we speak with Eziah Zaidi, the CEO of Mend Labs, a life sciences and digital health company on a mission to improve societal health and healthcare delivery. They've recently raised a $15MM Series A bringing their total capital raised to $20M.