Journy · B2C · trip planning service
Pack nine investor meetings into two days in one city
Seed round closed in 2 days with three term sheets
Workedfinancing
What they did
Flew to San Francisco and stacked nine investor meetings into 2 days. Every investor knew she was only in town for 2 days to meet investors, so each knew that if they didn't move, someone else would. Her rule: don't start fundraising until you can create competition for the deal and have the meetings back-to-back; investors show growth signal (a lot of growth in a short time), not a magic number, and without a competing offer they keep asking for more data and drag things out.
What happened
Closed the seed round (led by Menlo Ventures) in 2 days with three term sheets.
- Stage
- seed
“So you need to line up like nine meetings, and this is how I raised my my closed my seed round. I closed my seed round in 2 days, all right? I like flew out to SF. I stacked nine meetings in 2 days.”
“all the investors I was meeting with knew that I was just in SF for 2 days to meet investors, so they knew that by the end of those conversations, if they didn't move, somebody else would, right? And I ended up getting three term sheets from that, okay?”
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