How I Raised $350k as a Solo Founder using these 4 Email Templates
TK
I'M A HACKER, HUSTLER AND DESIGNER. FOUNDER AT TOUTAPP.
Over a three month period, I raised an "advisory round" for my early stage startup from the likes of Esther Dyson, Dave McClure, Eric Ries, Josh Baer and others. During the fundraising process, I met a ton of investors both through soft introductions, straight out stalking and also through AngelList.
In the end, I ended up raising $350k (my goal was $250k, I was oversubscribed) and I managed the entire fundraising process over email using these key templates. Now, you can use them too to raise money for your startup.
Keep in mind that these templates do not replace the "soft intro" or the initial conversation where you talk to an investor and pique their interest. In my limited experience in fundraising, COLD CALLING and COLD EMAILING generally does not work. So get that "soft intro" first, or connect over AngelList and then start with the first template.
Initial Investor Connection
Hey {{first_name}},
Here's the info I promised you about {{Company Name}}:
- I've attached a short PDF that gives an overview about {{product name}}.
- Also, if you'd like to check out {{product name}}, here are two QUICK ways to take it for a test drive: 1) Check out our demo: {{link to demo}} 2) Check out our demo video: {{link to demo video}}.
Once you've checked out the PDF and the Demo, I'd love to get on the phone with you or meet in person to tell you more about the business.
Please let me know TWO times that work for you and I'll schedule it.
Thanks in advance,
{{link to your product with tag line}}
You should send this email after the first introduction or conversation you have with a potential investor. The goal of this email is to further pique the investor's interest with key pieces of information and push for an actual meeting where you can talk details.
Things to note:
- You're not sending your actual Pitch Deck here. You're just sending a ONE PAGE PDF that gives a simple overview of WHO YOU ARE, and WHAT PROBLEM YOUR PRODUCT SOLVES.
- Make the demo link as SIMPLE AS POSSIBLE. Don't require a log in. It should be a simple link that puts them into the "in app" experience.
AngelList Intro Response
Dear {{first_name}},
Thank you for reaching out to us through AngelList (http://angel.co/tout). For starters, I've attached the latest version of our pitch deck which provides a solid framework of our
business in about 7 slides.
After reviewing the deck, if you feel there may be a good fit, then please let me know THREE time blocks over the next three days (weekends are fine) during which we can talk on Skype or meet so that we can get to know each other better.
Thanks in advance,
I love AngelList, we raised a good portion of our round through there. However, the toughest thing for me was figuring out what to do AFTER someone requested an intro.
The goal of this template is to build on the information already on your AngelList profile and get the person that clicked on the "Intro" button to review some more detailed information and get them to convert to an actual meeting.
Note that at this point, we're including the actual pitch deck with the assumption that they already checked out a demo of your product from your AngelList profile and already learned about the basic information (and more) that the PDF OVERVIEW would have.
Deal Terms and Details
Hello {{first_name}},
In this email, I've included all of the important pieces of information:
Close the Deal!
Dear {{first_name}},
I'm extremely excited to be bringing you on as an Investor for {{product name}}. As I mentioned before, we are set to close this round of fundraising in {{X}} days.
There are two things you need to do to close this deal: Please call me directly if you have any questions: {{Number}}. Thanks
Even if you get a commitment from an investor, it still takes some prodding to close the deal. The goal of this Email template is to remind them that the round is closing and that they are either IN or they are OUT.
It also addresses some of the key logistics around "closing the deal.
Wire Transfer Instructions
Dear {{first_name}},
Attached you will find the wire transfer instructions. The funds will be put into escrow and then will be released to {{Company Name}} once all of the note documents are fully executed.
If you have any questions, call me on my direct line at {{Number}}.
Thanks,
If you're using Tout, you can attach actual files to an Email Template. I use this template when an investor has signed off on the deal terms (officially). It is pretty much the last step in the overall process.
Now go and put the money to work!
In Conclusion...
Fundraising was one of the most difficult and arduous things I have done as an Entrepreneur. But, in the end, I finished with a strong group of investors and it was all worth it. I hope these templates help you through your fundraising process.
