Summary:

In this episode of the Startup Junkies podcast, hosts Jeff Amerine and Davis McEntire sat down with Nathan Beckord, the founder and CEO of Foundersuite. Foundersuite is a company that streamlines the process of fundraising and investor relations for startups. After working in investment banking, Nathan had an idea to build software to simplify the fundraising process for startups, and today, his company is helping thousands of other startups. Throughout the episode, Jeff, Davis, and Nathan discussed how Nathan got the idea for Foundersuite, what it offers, and how the company is supporting others in the startup process.

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Show Notes:

(1:18) Origin Story

(2:48) What Is Foundersuite? 

(8:52) Client Benefits with Foundersuite

(14:11) Investor CRM and Database 

(16:18) Nathan’s End Game

(21:27) Advice to Younger Self and Closing Remarks

Links:

Jeff Amerine

Davis McEntire

Nathan Beckord

Foundersuite

Quotes:

“It’s been…kind of one foot in front of the other, just grinding away adding more features that people need for their fundraising journey.” Nathan Beckord, (4:20)

”I like to tell founders…there’s…a couple of right ways and a thousand wrong ways to raise capital. We’re trying to build these tools, like the bumpers at the bowling lane that kind of keep you in the right lane.” Nathan Beckord, (9:21)

“I believe there’s a strong corollary between the speed at which your fundraising is going and the likelihood you are to actually be successful.” Nathan Beckord, (9:54)

“I built this because I really want to be a founder and…I knew fundraising, I had been doing that forever. That’s like the one thing I really know deeply.” Nathan Beckord, (17:07)

Simplifying Fundraising with Foundersuite

In this episode of the Startup Junkies podcast, hosts Jeff Amerine and Davis McEntire sat down with Nathan Beckord, the founder and CEO of Foundersuite. Foundersuite is a company that streamlines the process of fundraising and investor relations for startups. After working in investment banking, Nathan had an idea to build software to simplify the fundraising process for startups, and today, his company is helping thousands of other startups. Throughout the episode, Jeff, Davis, and Nathan discussed how Nathan got the idea for Foundersuite, what it offers, and how the company is supporting others in the startup process.

Background on Nathan

Nathan Beckord grew up in Colorado and eventually went to college in California near Silicon Valley. After Nathan graduated, he worked in investment banking for 15 years helping companies raise later-stage rounds of capital. During this time, Nathan was introduced to the world of startups and knew he wanted to one day have his own startup, but he did not know what he would offer customers. 

Before starting Foundersuite, Nathan and his colleagues would help clients shape their pitch deck and put together their financial model, and then they would spend over 50 hours researching and putting together a list of investors. This process worked but was not efficient. Nearly 7 years ago, Nathan’s startup, Foundersuite, was born with the promise of making the process of securing funds and investor relations easier and quicker for startups.

Fundraising Is a Sales Process

“It’s been…kind of one foot in front of the other, just grinding away adding more features that people need for their fundraising journey.” Nathan Beckord, (4:20)

Foundersuite has many tools to help startups in the process of raising capital. 6 years ago, they launched their first product, Investor CRM. This is a tool to manage a pipeline of investors. Foundersuite has been adding 1-2 products every year since then and has many features and tools such as a pitch deck hosting tool, an investor update tool, an email follow-up tool, a collection of documents you can download, and much more. Foundersuite has recently added a virtual data room where startups can share confidential materials with investors and track who views them. Another helpful feature is that founders can now leave reviews and tips on investors to help other startups who are a bit earlier in the process. 

”I like to tell founders…there’s…a couple of right ways and a thousand wrong ways to raise capital. We’re trying to build these tools, like the bumpers at the bowling lane, that kind of keep you in the right lane.” Nathan Beckord, (9:21)

Though they have versions for non-startup customers, startups have been Foundersuite’s core base since they started. Today, Foundersuite has nearly 3,000 subscribers. With Foundersuite, startup companies have found structure, speed, and efficiency in the fundraising process which has allowed them to be successful instead of turning stale and losing funding.

“I believe there’s a strong corollary between the speed at which your fundraising is going and the likelihood you are to actually be successful.” Nathan Beckord, (9:54)

For many, the value of Foundersuite comes from the database of investors. Others find the most value in the CRM and running an efficient process. Still, others find the most value in building and nurturing relationships with investors. Whatever a startup needs in terms of fundraising, Foundersuite makes it easier and more accessible. 

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