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Nick Haase

Investor Updater - Simple, beautiful workflow tools for investor updates

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Real Talk With Carlos Gil Episode 7 – What’s Next For Social Media Storytelling
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Investor Updater is a tool to build monthly or quarterly progress reports to send to investors. Use it to build relationships with prospective investors, and to leverage and activate your existing investors. Research shows that founders who send regular updates have a 200% greater chance of raising your next round. Investor Updater makes you a pro.

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Ariel Assaraf
I did a little search and was amazed to see that there aren't too many tools like this. super useful and right on time (1 week before a board meeting :D )
nathan beckord
Maker
@arielassaraf Thanks! Yeah, we realized that too. If you're a publicly-traded company, there are several investor relations software platforms, but not many exist for startups & privately-helf companies. Investor reporting is a market ripe for improvement via software. Good luck with your board meeting-- DM me if you need a board deck, agenda, minutes template, etc :)
Ariel Assaraf
@sailornathan be careful with what you say there :)
nathan beckord
Maker
@arielassaraf all good! hit me up if you need any of those docs: nathan@foundersuite.com
nathan beckord
Maker
Big thanks to @nickatloot for hunting us! Investor Updater helps founders create beautiful progress reports to send to investors. The idea came from our users. We launched our first product, Investor CRM back in March, and since then, 2k+ startups have used it to improve their fundraising workflow. For these users, either: i) they raised money and thus needed to start reporting progress to their new VC overlords, or: ii) they were told “too early, but keep in touch” and they needed to start sending periodic updates. Diving in, we found that the investor updates / reporting / relations space was a really inefficient and broken corner of the startup landscape. Founders didn’t know what info to send, and investors were dealing with info spread across their inbox, Google drive, Dropbox and half a dozen other sites in half a dozen formats. It was (and is) a mess. With Investor Updater, we are taking a shot across the bow to clean it up, standardize the process, and make life easier for all parties involved. That’s our mission — to improve startup-to-investor relations. Happy to answer any questions, and I would love your feedback, ideas, suggestions. Thanks guys! Nathan ps for those of you who would like a longer overview, I posted more about our story on Medium: https://medium.com/@foundersuite... pps: if you login as a first-time Foundersuite user, the default view is our Investor CRM product. To get to the Investor Updater, click the navigation bar on the left side. :)
Clara Beate Malm
I can really see the value of this, these processes do indeed get quite messy sometimes. Good job guys!
nathan beckord
Maker
@clarabeate Hi Clara, totally agree. We are "process junkies"... even though fundraising and investor relations is not rocket science, it can be confusing and anxiety-ridden (especially for first-time CEOs). But both activities can be broken down into actionable steps with software. This product is baby steps in that direction.
Mikael Kristianslund
This looks awesome! 👏👌
nathan beckord
Maker
@mikaelkrist why thank you very much! :) We put a lot of work into NOT adding bells and whistles, and instead keeping it super-simple and flexible.
Pascal Wagner
@mikaelkrist I definitely agree!
McQuillan Shane
excellent, well done indeed
Greg 'X' Willis
Love it, great product!
Tom Frazier
Can you share some of the reports that you've included?
nathan beckord
Maker
@tomfrazier Hi Tom! So, the reports are comprised of customizable "elements" that can be dragged-and-dropped into the template builder. The standardized Text elements include: Company Summary, Financial Summary, Challenges, How You Can Help, Shout Outs and Thank Yous, Other / Optional (product releases, marketing highlights, key hires, etc). Each text element by default comes with examples of what to write. There's also a KPI table builder and the ability to add images and attachments.
Ela
This is a nice addition to Foundersuite CRM, can be helpful in fundraising process and staying in touch.
nathan beckord
Maker
@madidi707 Thanks Ela. Appreciate the kind words. It's the next step toward our vision of the complete "funding stack" ...a set of tools that help founders run their investor outreach, deal process, and post-funding reporting (maybe board management too, we'll see :)
David Rodríguez
Hey man! That's really useful. @sailornathan What is the final output? We'll get a PDF? Url? Btw, you said that by default we can see templates for each piece, but once edited we can save for future revisions, right?
nathan beckord
Maker
@davidrodriguezc The final output is a unique URL that you as the founder can send to your investors. Right now there's not an option to export to PDF (and we have reasons for wanting to keep the report hosted entirely online-- namely, so the report is "dynamic" and can be controlled, edited or updated by the founder, vs. a PDF or slide deck that is out of your control once you attach it and hit send).
nathan beckord
Maker
@davidrodriguezc Oh, and to your other question-- yes, you can create and save templates for future revisions. For example, some of our users have a template for "Current Investors" (folks who have already put in $) and "Prospective Investors" (folks you're still trying to build a relationship with). The former is usually more detailed and has more sensitive info.
David Rodríguez
@sailornathan Yeah, makes sense.
Max Pelzner
This is very comparable to https://visible.vc/ 💸
nathan beckord
Maker
@whoismaxpelzner Hi Max, I have not directly used Visible myself, but I think the goals are similar-- to improve and streamline founder and stakeholder communications. It's an area with plenty of room for improvement (and multiple players, of course! :)
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