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Neil got married, launched Sailthru, and went out to fundraise the same week Lehman collapsed. Macro may be out of your control, but it didn’t stop this guy.
Tell your story: as a CTO I’d outsourced email and it never worked- so I built a product to solve my own problem.
Can’t control macro: started Sailthru the week Lehman collapsed so instead of raising funding, bootstrapped to $20k per month. Persevere no matter what.
Find an ombudsman: didn’t know fundraising process so I started by talking to a friend who did at NYCSeed who introduced me to others.
Leverage Investors: It’s in an interested party’s interest to introduce you to others in order to raise a round.
Don’t overcomplicate your fundraise: should have done a convertible note instead of priced seed round.
Speak Investor’s language: Know how to talk to investors and realize they are partners. Be honest. They’ll find out anyway.
Learn how to motivate your team. If you’re going to do something, do it well.
Neil Capel is the co-founder and CEO of Sailthru, which provides true one-to-one targeting for publishers across both email and webpages. Prior to Sailthru, Neil served as CTO to Hyphen, Musicnation, ASmallWorld, Money-Media, as well as CEO of Redscope. A graduate of University of Portsmouth, Neil has true technical expertise in LAMP, cloud based systems, systems arch, scaling, email, management of technology teams. He also happens to have a wicked sense of humor.