If you’re a startup which often wonders about how companies are able to raise funds, then this article is for you. AdPushup, a startup, was recently successful in raising around $632,000 from 50 Angel investors in a single round of investment.
The company started the fundraising process by registering itself on an online platform for raising funds called LetsVenture. The company preferred LetsVenture over AngelList as a platform because with LetsVenture it is easier to gain visibility as every new startup gets placement on the main listing page of the platform. Within just two days of completing their profile on the platform, the company received a call from the platform’s founders to expand further on what the company was and what they basically did.
In the same week of registering at LetsVenture, the company was asked to pitch itself for the very first time in an offline event at Investopad, which is an amazing co-working space. At that event, the company representatives met Sunil Kalra who later went on to become the first angel to commit to the fund raising round and support the company.
The company further made use of some tools to make itself standout in the sea of other startups in the eyes of the investors. Some of them have been discussed below.
1) Cold Email- the Company challenged the norm of investments happening through introductions and instead drafted a slightly unorthodox mail. This was a big risk on their part but they took it and in the end it paid off. In the mail they explained what their company basically was and what they were looking for from them. The company sent out a total of 55 mails and received 24% of funds from this round.
2) Exploring the Existing user base- the company was even able to raise funds from their existing user base which showed great user confidence in the company’s product.
3) Angellist- the “Find Investors” tab on Angellist can prove to be very beneficial for startups. AdPushup was able to get two investors using it.
4) Public Relations (PR)- Good PR can give you the speed that you were looking for. It can help you in getting new leads and closing your existing leads faster. It also improves the company’s odds and makes one look more credible.
5) Pitching events- Attending more and more pitching events increases ones chances. AdPushup pitched at events like Techcircle startup 2014 and StartupDash 2014.
Via – AdPushup Official Blog