Alex Salazar on Taking Arcade from Zero to a $12M Round (Alex Salazar / Arcade - Ep 56)
Alex Salazar didn’t need to prove he could build a company. He’d already done that and sold it, then spent time as a VC, and had the kind of background that usually makes raising money the easy part. But when he started Arcade, he decided to do things differently. In this episode, we talk about what it means to go back to zero even when you don’t have to. Alex shares why he and his co-founder stayed in stealth, how they tested product ideas without writing a single line of code, and what it took to get real traction in a category moving as fast as AI. We get into opportunity selection, investor conviction, and what it actually looks like when someone gets preempted before they’re even out fundraising. Arcade eventually closed a $12M round... but the process behind that raise had very little to do with pattern-matching or momentum. It was all about building something that hit a nerve.
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Trailblazing the VC Industry (Joanna Strober / Midi Health)
In the last two decades, the startup industry has seen remarkable transformations, from the emergence of angel investors and venture capital firms to the rise of SaaS, cryptocurrencies, and the global diversification of the field. But what's even more exciting is the increasing presence of female founders, who, despite facing challenges, are making significant strides in entrepreneurship. Today, we're chatting with Joanna Strober, a founder who's witnessed this industry shift firsthand. From being one of the few women in venture capital to securing venture backing for her first company (which was later acquired by Weight Watchers), and raising a total of $39M for her latest venture, Midi Health, Joanna's journey is nothing short of inspiring. Curious about what it was like being apart of a changing industry? Listen to find out.
TBC: 3 Tips for Choosing Service Providers
In this episode of The Back Channel, we delve into a crucial post-fundraising topic: choosing service providers for your startup.While it may seem mundane, the decision-making process can greatly impact your business. Key takeaways include filtering for providers with startup expertise, considering the additional value they offer beyond their core services, and trusting your instincts about the working relationship.
TBC: What's the Deal With Thesis-Driven Firms?
Join Jason Yeh on The Back Channel as he demystifies thesis-driven firms. They may not be as rigid as you think!
Paying the Peter Thiel Price (Dylan Beynon - Mindbloom)
Just like with any skill, there are beginners, and there are experts. Through practice and experience, the experts become exceptional at what they do. In fundraising, there are also experts. You could call them the "seasoned vets" of venture capital. These are the founders that have raised all the way from small angel rounds to Series B and beyond. It's safe to say that any founder who's raised over 4 rounds of venture capital knows a thing or two about fundraising. Today, Jason got to share his conversation with one of those fundraising experts. Dylan Beynon is a 3x Founder who has raised hundreds of millions of capital throughout his career. His most recent venture is Mindbloom, a company that provides at-home psychedelic care that transforms mental health which he has raised over $50M across 3 rounds for. Dylan's success with Mindbloom is amazing, but his why is even better. Get your tissues, this one might pull on your heartstrings...
TBC: Bouncing Back From Failure
In this episode, Jason shares a conversation with a founder who recently raised capital but had to close their startup.First-time founders, remember that every setback is a chance to improve. Closing a startup isn't the end; it's a chance to evolve.Once you've felt the grind and tasted success and failure, your perspective changes. You gain insights you can't find in books or tweets.It's also important to note that venture capitalists value founders who've been through the startup rollercoaster. Understanding the ups and downs is what sets you apart.Share this episode with fellow founders or friends on going through a tough time with their startup. Embrace the learning process - see you next week!
TBC: Creating a Story That Can Be Shared
Ever wondered why your startup story and pitch deck need to be razor-sharp? Sure, you want to impress investors, but there's more to it than meets the eye. Host Jason Yeh dives into the secret sauce of crafting a compelling narrative that not only wows investors but also ensures your story gets shared effectively.In this episode:💡 Discover the critical importance of a concise story that grabs attention💡 Learn why your pitch deck is more than just a visual aid—it's your investor's roadmap.💡 Uncover the hidden power of making your story easy to share, especially in firms with multiple decision-makers Ready to be convinced to tighten up your pitch?
A Wyoming Success Story (Heather Shoemaker - Language I/O)
2023 was a tough year to fundraise. Almost all venture-backed founders felt the toll of being in a down market this past year. But when you're a female engineer, on top of that a female founder of a tech company - it almost always feels like a tough year to fundraise. For Heather Shoemaker, Founder and CEO of Language I/O, she never expected to fundraise. She ran a profitable company and was growing steadily each year from her headquarters in Cheyenne, Wyoming! But as we know - things change. Competitors come, and there's things you have to do in order to keep moving forward. In Heather's case that meant going out to raise her first venture round. It took awhile, and she met some very interesting VCs along the way, but eventually she ran into the right people and closed her seed round. In this episode, we get to dive into Heather's fundraising journey and how that ultimately led her to raise Language I/O's $8M Series A in July of 2023. Stick around towards the end and you'll also get to hear from some of Heather's investors from Wyoming VC!
TBC: Should Founders Try Again With Investors Who've Passed?
In this episode, we explore the wisdom behind reconnecting with investors who previously passed on your pitch. Remember, investor passes aren't personal; they often stem from timing or fit issues. Before reconnecting, update your narrative with progress highlights. When reaching out, exude confidence without begging. Showcase your growth, increasing investor interest, and upcoming fundraising round. These reconnections aren't just about securing funding; they're opportunities to refine your pitch and bolster credibility. Ready to reconnect and ace that pitch? Go ahead and give this episode a listen!
TBC: Don't Fall Into The Builder's Trap
In this Backchannel episode, Jason tackles a familiar trap for founders: productive procrastination! From fixing pages to creating automations, it's easy to get caught up in tasks that feel productive but aren't top priorities for fundraising. I get it, working on things you enjoy is crucial, but as a founder, your plate's overflowing. Listen to this episode to hear Jason's insights on how to distinguish between enjoyable distractions and high-leverage tasks that drive real progress. Prioritize your focus and avoid falling into the "builder's trap"! Keep building, but build smart!
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