How to Raise Funding When You're Not a "Tech Bro" by Sarah Chung

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Raising Funds When You Aren't a Tech Pro: A Success Story from Sarah Chung, CEO of Landing International

Sarah Chung, CEO of Landing International, is proof that you don't have to be a tech pro to successfully fundraise for a tech startup. As the brain behind a mobile training application for beauty advisors in the retail sector, Sarah has managed to bootstrap her company to profitability and successfully closed a $1.6M seed round. Not only that, but now she finds herself on the receiving end of inbound calls from Venture Capitalists (VCs).

Journey of Fundraising

Sarah candidly admits that she has made mistakes throughout her fundraising journey, however believes these have equipped her with valuable knowledge on what works, and what doesn't.

Challenges Faced by Women in Fundraising

The disparity between female and male tech leaders securing VC backing is significant. It's recognized that it's hugely challenging to raise funding when most investors are male and tend to favor other males. This issue seems to stem from the fact that long-term investor-founder relationships often involve daily conversations and decision making, leaving many male investors more inclined to build rapport with those who are similar.

Investors’ socialization and networking often revolve around traditionally male-oriented activities, and the startup culture frequently glorifies the archetype of the strong male founder doing whatever it takes to succeed. Regrettably, the industry terminology also appears non-inclusive to women.

Strategies for Successful Fundraising

Sarah believes it's essential for women to approach fundraising tables with an understanding of what the investors are looking for. From the investment criteria, the lifecycle stage of their fund, to knowing your numbers inside out and even understanding the implications of their investment, she emphasizes it's about concentrating on what it means for the investor, not the female founder.

Story and Background – The Key

According to Sarah, one of the most crucial aspects of being a successful founder is to come prepared with your narrative and be able to articulate how your life and work experiences have brought you to starting your startup. Developing strong relationships by demonstrating your expertise and credibility can help you stand out and be seen as a valuable partner.

Non-Technical Founders in a Tech World

Despite not being a technical founder, Sarah believes one can effectively seize fundraising opportunities by spotlighting their industry expertise and demonstrating why they are the best fit for their product. In addition, she recommends learning the basics of your tech stack and living your product to ensure a close alignment between technology and sales.

Mistakes Made and Lessons Learned

From her experience, Sarah points out common mistakes made by most founders when fundraising. She emphasizes that it is crucial to understand that all investors are not the same and to prepare for due diligence. Overall, it's about learning how to stick talking points and present oneself as the best investment.

Despite the challenges she faced as a non-technical female founder in a male-dominated field, Sarah’s fundraising journey has demonstrated the power of resilience, valuable insight, and the art of effective communication. Her story serves as a practical guide for those intending to embark on similar paths.


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