New data from the DocSend Startup Index shows that in the pre-seed round, founders need to approach VCs with much more than a great idea to secure funding.
In 2020, our research found that investors became laser-focused on sections of the pitch deck that address monetization and business viability — signs that founders need to come to the table with better-defined businesses in order to succeed.
90% of successful fundraises had a product in at least alpha stage
Locking in fundraising took an average of 30 investor meetings.
Investors spent 3:40 reviewing pitch decks that successfully fundraised.