Questions

We are an engineering services firm that is in beta testing on software. To date we have self funded, but we are thinking about seeking investment to get us to the next level, as well as an experienced investor who can help us avoid landmines.

In agreement with others, you should not get an IB involved at this stage. Seed investors (or super angels - since you did not say how much you are raising) are sensitive to fees being spent from the proceeds. They want everything possible going into the business, not 3rd party pockets.

However, you should also think about the process differently. You need to focus your presentation on getting meetings, not the investment first. You will learn more in the meetings that will improve your story and fundability.

As others have mentioned, you need to have market validation that your product is interesting. Smart investors (versus the legendary "dumb money") that you seek to assist the company with more than just capital will want to see team, technology, and traction.


Answered 5 years ago

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