Series A Funding Deck

Our take on what a good Series A funding presentation looks like, touching on the key areas investors care about. Based on a fictional business.

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A teaser of what is to come. Show off the key metrics you are proudest of and show your business in the best light. Around 4-5 data points is enough.

Set the scene for why your business needs to exist. What is the burning issue your product is solving and what features in the market have led to it. Incumbents with structural limitations are an easy target, and logos always catch investors' eyes.

A short and catchy summary of what your business does. 'Operating System for X', 'The [Large company] of [Industry]', 'One stop shop for Y' - think of easy parallels and other successful reference points.

Use this slide to tell a story. What shift is occurring that you are the heart of? What trend is changing the industry to your advantage?

⭐ Social proof is an added indicator for product traction. P&L metrics are what everyone looks at, but other forms of engagement such as reviews or product metrics can also help investors get excited about the opportunity.

⭐ You can think of your market size as three stages:

1. What you address today. How big is the opportunity in the segments you are currently servicing.
2. What you will address in the near term. In the next 2-3 years you may add new features or explore new geographies, growing the overall pie.
3. Future state. If your long term vision comes true, how big is the opportunity in front of you. This is where you can go for grandiose statements and blue-sky planning.

Try and be realistic about what you present in #1 and #2 as it shows you have a grasp of the market you operate in and intelligence about what can be achieved. Otherwise, coming out with ridiculously large TAM figures can be a bit of a turn-off for VCs.

Don't try to sugar coat the competitive dynamics. List your genuine competitors and be honest about what you do better or worse. Don't try to pretend there aren't any competitors, or that you are better than them in every dimension. Investors will diligence the market themselves and presenting a balanced view shows you know what you are doing and understand where your company fits within the landscape.

What do you have planned on the horizon? What are the big features you will be releasing that help you expand wallet share, enter a new market, or generate incremental revenue?

Summarise your key leadership team - short bios, logos, and make it clear what their current responsibilities are. You can support this with a full org chart in the data room or appendix.

⭐ A clear and well-structured P&L will win you a lot of favor with investors. Some founders are worried about giving away too much information early; however, most investors will ask for this granularity anyway, and putting it directly in the deck shows you are serious and have a good grasp of your financials.

When constructing a P&L, you don't need all the line items. Focus on the main metrics - ARR, Gross Margin, Opex by department, and customer metrics like ACV, CAC, and NRR. Ideally, you should show 2 years of actuals, the current year in budget, and 1-2 years forecast.

Include a few side comments to explain the trends and forecasts.

⭐ Similar to a well-structured P&L, showing how you will use the funding in a clear manner will help investors build conviction in your business plan and decision-making acumen. Conversely, if you can't clearly articulate what you need the funding for, it's a red flag.

At a minimum, you should understand where the spend will go in terms of departments, how much runway or time it will buy you before your next funding round, and what milestones you want to achieve.