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Washington DC Autumn 2013
Sessions: 2013-11-19 - 2014-03-04
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Using AngelList to Raise Money? Then Don’t Miss These Insider Tips by Ash Fontana
At the 13th Founder Showcase, which took place on March 27th of this year, the focus of the evening was on the ‘Future of Funding’ and early-stage startups. Ash Fontana, Head of Fundraising Products at AngelList, kicked off the event with a talk every founder needs to hear: Tips on Fundraising via AngelList.
Ash explained the fundamentals of using the site including 5 best practices for both startups and investors. Why use online tools for fundraising in the first place? Well, according to Ash “you won’t get the best investor or the best price if you don’t expose yourself to everyone”, and that means utilizing every resource available.
So how can you optimize your presence on AngelList? Check out the video below and our summary to find out;
1. Set up an AngelList profile as soon as possible
As soon as your company is more than an idea, create your AngelList profile. This profile is essentially a LinkedIn for your company and is a great way to establish your presence online.
2. Build a stellar profile
The number one mistake entrepreneurs make is that they don’t give potential investors enough information. So what does it mean to have a great profile?
- Provide as much information as possible.
- Be specific. Concentrate on one thing you do that no one else does.
- If you’re active you WILL get noticed.
- Match offline with online activity – make sure your real world network is reflected on AngelList.
3. Use AngelList like a social network
AngelList is a social network, so use it as such! This is your chance to showcase every element of your business, so take advantage and give investors the information they need to evaluate you as a whole. This might include notable connections, milestones in your company, and your activity on the site. When you meet someone interesting, ask them to follow you on AngelList – don’t be shy! Again, the more active you are, the more likely you are to get noticed.
4. You can’t gamify AngelList
There are no tricks or hacks to getting more attention on AngelList. With filters in place that weight companies based on quality, startups that are trending or featured in investor’s feeds are selected based on value and organic interest. The snowball effect happens on AngelList the same way it does it real life; introductions are made, money is invested, and eventually buzz starts to build.
5. Best practices for investors
To get the most out of AngelList as an investor, make sure you’ve tagged all your previous investments and identified markets you are interested in. This way you will receive a more personalized deal flow based on your interests and location. Finally, when searching for companies, use the url www.angel.co/startups to see who is looking to raise a round.
Regardless of whether or not you decide to use AngelList, Ash recommends using online tools to establish your businesses’ online presence and to ensure you get the best price when your startup is looking to raise money. There are plenty of online tools out there, so take your pick. However, when you do decide to build a profile, make sure you are taking advantage of every feature offered and you are getting the most out of it.
AngelList is a platform for startups. Often touted as the “LinkedIn for your company”, AngelList helps connect startups with investors by fostering connections, highlighting relevant company information, and helping provide access to capital.