Over the course of 5 years building BasisBoard and Downtobid, we raised $4.5m of venture capital over 3 rounds. Our business did not achieve the venture outcome that we initially hoped for. That said, we managed to get the business to profitability and is now serving over 100+ customers in construction. The business continues to grow its customer-base and ARR, but is no longer on the VC-track. As founders, we continue to provide part-time support on the business.
In this post, I’m sharing the decks and memos we used to raise venture capital.
Seed round - $3.4m
In 2021, we raised a $3.4m seed round to build BasisBoard, a bid management platform for subs. This was 2-years after we started the company. We primarily used a blurb and long-form memo to raise this round.
Here is the memo we sent to investors: Basis Seed Investment Memo
Here is the email blurb we sent out to investors:
Decks
The left deck was used to raise a $3.4m seed round.
The right deck was used to raise a $1.1m pre-seed round (after demo day)
Pre-seed round - $1.1m
Here was our YC video when we applied in 2019!