Pitching a startup to investors without a personal recommendation isn’t a terrible idea — as long as you’ve done your research first.
Tetra Insights co-founders Michael Bamberger and Panos Rigopoulos raised a $5 million Series A last year, and the duo said cold outreach was a key part of their strategy.
“When I changed my criteria to finding people who were a fit, the process was really quick,” says Bamberger, who initially raised a $500K friends and family round in 2019 followed by a $1.5 million seed round a year later.
Rigopoulos and Bamberger shared their cold-calling advice with TC+, along with the full text of one of their winning emails and a detailed breakdown of the three-step process they used.
“Once you get investors, the story doesn’t matter; it’s all about the metrics, the numbers and the performance,” Bamberger said.
“Before the investment, the numbers are just part of the story, so you really have to understand how you’re telling the story.”
Due to the Thanksgiving holiday in the U.S., we are skipping this Friday’s newsletter, but we’ll be back in a week with another TC+ roundup.
Thanks very much for reading, and have a great week.
Editorial Manager, TechCrunch+