My fav part of hosting Funded is coming across crazy talented founders like Joanna Strober - 2x founder, CEO, and prev managing director and partner in the venture world.
Not to mention she just raised a $25M Series A for Midi Health 🤑
Here are two takeaways I have from her episode:
1. Relationships Matter
"We spent a lot of time cultivating investors from the first fundraise who said no and keeping them up to date on what we were doing and bringing them along with our story. By the time we needed to fundraise, people knew what we were doing, and they saw that we were outperforming on our numbers... we told people in the seed, here's what we're gonna do. And we were doing better than that on pretty much every metric."
I say this all the time but I'll say it again - a true fundraise starts way before you actually go out to raise.
You'll hear this in the episode, but Google Ventures actually turned Joanna down during her seed round. Reminder that a rejection in the past doesn't always mean rejection in the future...
2. The Process Stays the Same (no matter how many times you raise)
"I'm gonna have to go do it again... I cannot tell you that there's any crazy confidence. It's like, ‘Okay, how do I tell the right story? How do I write the right deck? How do I convince people of what I am seeing?’I know what I'm seeing, but convincing other people of that and why it's such a big opportunity is a challenge."
I had asked Joanna now that she's raised a few round of capital if she now feels confident for future rounds. I'm so happy she gave the answer that she did.
It's important to highlight that there will always be room for improvement in your pitch, your deck, your people skills, your outreach skills, and so on. Don't think after you've raised you’re suddenly above any of that 👀
I expanded deeper into these takeaways in this weeks newsletter but honestly I suggest you skip ahead and go watch the full episode.. a ton of useful fundraising nuggets in there 💡
To listen or watch ⬇️
Co-Founder at luna, the fastest growing health app for teens 🚀 | Follow me for insights on Business and Gen Z/Alpha | Oxford MBA
1wSuch a great convo! Proud to be an active member of Female Founders Rise Sie Ventures and Foundrs - I’ve made incredible friends in these communities!