Securing Venture Capital With Dealroom
This article is written by Jeremiah Uke, a Contributor Author at Startup Istanbul.
Yoram Wijngaarde founded Dealroom.co in 2013, a platform that provides market intelligence to corporates, investors & tech companies to help stay ahead of the competition. Before that he worked for 10 years in investment banking, advising media, telco, and internet companies. At Startup Istanbul 2014, Yoram delivered a speech where he shared his startup journey and Dealroom.co with the audience.
Once your startup is gaining traction, venture capital funds will come to you and show interest in investing in your business, the question now is “what do you do next?”. Historically, as a founder you basically have two options when you reach the point of interest from venture capital, one is to do everything yourself and the other is to hire an advisor. Doing it yourself leaves you prone to a lot of poor decisions since you have little or no experience, the other option might come in handy, but it is too costly and you find out the advisor does not really do so much.
Dealroom is a digital single private workspace for startups from launch to completion of deals, it allows you to do the following:
Choose the best investors to work with
Manage and update files centrally
Real-time insight and analytics
Streamlined and simplified process
There are three steps to getting your startup on Dealroom and they are Upload, Invite and Collaborate, users can upload data room pack (KPIs, deck, model), appoint project managers and provide support of preparation of decks. Users put up the investment summary, select target investors, the invited parties can request data room participation access. Users can collaborate and data room activity, define milestones and legal documentation.
Dealroom uses the freemium model, the free model allows users to use the data room to share files and depending on luck, you can get some additional funds that you did not know about, venture capitalists can request to be a part of your round. If you are not sure on which fund you want to take, Dealroom takes 1% fee for this plan.
So far, Dealroom has signed over 1,137 venture capital funds which are almost 80% of all technology activities, Dealroom has 244 over super angels, they cover all geographies even in Turkey, all growth stages are covered from seed stage to late growth stage and even to buy-out funds, Yoram advises startup to pick up funds who understands their locality. Dealrooom has registered over 15000 companies to use the solution across all industries and across all growth stages.
Finally, Dealroom was created to help companies raise funds and they have helped 16 companies and the average amounts to $5 million each one, Yoram adds that getting Dealroom to work with you requires some tune of traction and number of users and their growth pattern. Dealroom would help your startup gain relevance, save time and cost, and monitor progress from the launch to the end of deals.
https://youtu.be/XftPqP3q1Kg