Airtree VC calls ProcurePro’s capital raise materials 'game-changing'
At the end of January 2024, ProcurePro announced its A$6.15 million capital raise, led by Airtree Ventures. Airtree is Australia’s premier venture capital firm, backing eight unicorns including Canva, Safety Culture and Go1. The raise also included investment from some of Australia’s top construction tech founders, Leigh Jasper and Paul Perrett, ex-Aconex founders.
Following the raise, Airtree shared that ProcurePro’s fundraising materials were “the very best for a Series A SaaS startup”. Let’s discover how ProcurePro stood out from the 2,500 other pitches Airtree is presented with each year.
What made ProcurePro stand out?
Airtree commended ProcurePro’s “compelling pitch deck” and “clear, detailed growth model”, but what really got their team over the line was the inclusion of a Business FAQ document, something Airtree never seen before in their 10 years of venture.
What is a Business FAQ?
A Business FAQ is a document that clearly details and outlines the key elements of the business, market dynamics, current performance metrics across the company, the product roadmap, competitor landscape, go-to-market strategy, and more.
This document should not replace a pitch deck, but enhance and complement it to tell a more complete story. Detail and transparency is prioritised in a Business FAQ, seeking to answer any and all swaying questions from investors.
From ProcurePro’s CEO & Founder, Alastair Blenkin’s perspective
“First impressions matter so demonstrate you’re a weapon”
Alastair Blenkin, ProcurePro CEO & Founder
Speaking to Airtree, Alastair shared why the Business FAQ was an integral part of the fundraising round’s success, focusing on the importance of preparation to ensure the smoothest fundraising process possible.
Drawing on his own experience with investors, Alastair stressed the importance of first impressions, comprehensive preparation, maintaining funnel velocity, and using tracking links to determine what content investors are (or are not) interacting with.
Read the full write-up and download a Business FAQ template from Airtree
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