October 12, 2021

Welcome back to Ask a Seed VC, our advice column on startup fundraising and investing. We’ll be doing something a little different today: Answering a few questions that were submitted via Twitter.

The first question comes from Howard Stark: How do you determine your “ask”? That number can range from $200k for a bare bones attempt where one mistake can kill you to $1M for a comfortable shot at your goal with room to maneuver. Or should you fit your ask to each VC’s preferred check size?

October 5, 2021

“Katz is a legend.”

That’s how Eniac Ventures co-founder Nihal Mehta explained his eagerness to meet with Michael Katz eight years ago, and why he didn’t hesitate to invest in Katz’s then-new startup mParticle.

After all, the man had already taken his first company Interclick public, and it was ultimately sold to Yahoo.

Fast forward to 2021 and mParticle has just announced a $150 million Series E led by Permira’s growth fund. So we asked Katz to join us for the latest episode of Eniac Extras.

September 30, 2021

More exciting news from the Eniac portfolio: Alloy just announced that it has raised $100 million in Series C funding — and with a post-money valuation of $1.35 billion, it’s officially a unicorn!

To learn more about Alloy’s success and how the company might evolve in the future, we interviewed CRO Laura Spiekemerman and CTO Charles Hearn (they founded Alloy with CEO Tommy Nicholas), along with Eniac co-founder Nihal Mehta.

September 29, 2021

MaestroQA was founded. The journey is far from over, but founders Vasu Prathipati and Harrison Hunter have hit a major milestone, raising a $25 million Series A.

We’re proud to have played a small role in MaestroQA’s success, having incubated the startup and invested, starting with its seed round (Anthony even wrote about the funding when he was still at TechCrunch). To hear more about that shared history and the lessons learned along the way, we jumped onto Zoom with Vasu and Eniac co-founder Nihal Mehta.

September 21, 2021

With a busy fundraising fall underway, we’ve been highlighting the things that startups need to successfully raise a Series A. We started with a relatively neglected topic, the data room. Today, we’re looking at the pitch deck, and we’ve even created a template that you can browse below or download as a PowerPoint.

Most founders are much more familiar with the deck than the data room, and they probably have one prepared already. But that familiarity doesn’t make it any less crucial. After all, your deck is how many investors will form their first impression of you, before you get a chance to pitch them in-person or over Zoom.

In fact, one of the most common requests sent to our Ask a Seed VC advice column is for feedback on pitch decks. Unfortunately, it wouldn’t be feasible to provide a detailed critique of every deck, but we can provide some tips on how to do it right.

August 23, 2021

We are excited to announce that we’ve co-led $3 million in seed funding in Givz with our friends at Vinyl.

We’re particularly pleased to be partnering with founders Andrew Forman, Jay Henderson, Eric Carlstrom, and their team to build a company that helps consumers give back while also increasing merchants’ top lines.

Givz is enabling the substitution of discounting for charitable giving. Charitable giving at the point of checkout has been proven to increase conversion for merchants while also having the added benefit of improvement in brand equity.

August 12, 2021

Welcome back to Ask a Seed VC, Eniac’s advice column about startup fundraising and investing. Today’s question comes from the founder of a Latin American carpooling app:

How much money should be required to fully test product/market fit? We have only spent somewhere in the area of $1000 on marketing thus far, and that has been enough to get us a little over a thousand users, and the users we have been getting are using the app and seem interested. However, we are running into the chicken-and-egg problem — we need enough drivers to handle all the trips that the riders request, and we need enough riders to support the drivers who join the platform. Our intuition is that we need to spend more marketing dollars to reach a higher critical mass of drivers/riders in various routes. But the problem is, we don’t really know how much we need to spend.

August 3, 2021

Here at Eniac Ventures, we’re getting ready for the fall to be into one of the busiest periods ever for Series A funding — and that’s after a record-setting first half of the year.

Like any seed investor, we want to see our companies find product-market fit and successfully raise their Series A. In fact, it’s something we’ve been focused on for years.

One of the most reliable tools for converting to an A? A good data room.

July 29, 2021

Welcome back to Ask a Seed VC, Eniac’s advice column about startup fundraising and investing. Today’s question comes from a founder who requested that they remain anonymous:

My startup has seen some very strong growth recently, having gone from $0/mo -> $50k/mo in revenue in the past 6 months but as we bring a new model (content licensing) to what is still a nascent industry (digital wellness) we often get questions around market sizing.

Although some investors just get it, I have struggled to consistently answer these questions due to a lack of data around the content side of digital wellness. I’d love some advice on how you feel this could be answered well?