Pitchr - Why we exist
Many investors think the venture capital industry is unfair by design. We think differently. Let's address why Pitchr exists, the problems we're here to solve, and what our vision is.
This is an animation of one of the main user flows on Pitchr. Investors send us their investment thesis and criteria, and we use that to determine a fit (%) between startups and that firm. Learn more about this feature here →
What is Pitchr building?
Pitchr is building a SaaS product for venture capitalists, angel syndicates, and accelerators to enable them to improve 1) the relevancy of their inbound deal flow; 2) importing data to their CRM system, and 3) easily share deals they pass on with other investors where it is a better fit.
We have five main features:
- Pitchr™ deal filter and algorithm
- Simplified deal sharing
- API integration with CRM systems for easier data import
- Real-time deal flow statistics
- Customizable application forms for startups to go through
Why does Pitchr exist?
We're in the world to solve 3 key problems:
- Venture capital intransparency
- Time is scarce, deal flow plentiful
- The overly complicated fundraising process
Venture capital intransparency:
Venture capital intransparency comes in many facets. The industry itself is characterized by high levels of information asymmetry, a problem that many argue is good, and others argue is bad. It's a game of access - naturally, not everyone is going to get that access. Some people even argue that the industry is unfair by design - a statement that is being challenged daily. (link to the harvard article). We think differently. We exist to challenge the misconception that not every founder should be able to get access. The thing is, cold deals get cold responses - depending on the venture capital firm, only around 6% of cold deals (link to EUVC video) end up being financed. We have designed a way to turn, what initially is a cold lead, into a warm intro, without hassling the investors to do the research and outreach themselves.
Time is scarce, deal flow plentiful:
Venture capitalists, angel syndicates and accelerators get upwards of thousands of deals a year, typically only allocating a couple of minutes to review every deal. Manually reviewing and importing info from pitch decks, website and inbound deal flow is an inefficient process - and one that scales inversely as deal flow grows. In fact, the term "deal flow" is an inaccurate way of describing founder's spending time away from their startup to reach out to you. Typically, if a deal isn't a fit for you currently, the "flow" of the deal hits a dead end with you. Because there hasn't previously been an efficient system for passing on/sharing deals with other relevant investors.
The overly complicated fundraising process:
Raising capital is often a crucial part of many startup's journeys - if you wish to build a unicorn, then you will most likely be fundraising at some point in that journey. The fundraising process will on average take most founders around 6 months - from the first day they reach out to an investor, to the day the money hits the bank account. Doing investor research, qualification, cold outreach and trying to get warm intros are unnecessarily time consuming steps for founders that ultimately should be busy building their startup. Founders are often unaware of where they stand after getting in touch with investors through application forms and other forms of outreach, because there are no systems for tracking the "flow" of a deal. Pitchr is currently building a solution for this.
What is Pitchr's vision?
Pitchr's vision is to be the ultimate link between startups and venture capital. We want to encompass the most efficient network of VCs, angels and accelerators and give them the tools needed to support world class founders. Our end game is that founders only have to apply once through Pitchr, and that deal is automatically distributed to all of the relevant investors.