Spending your first $2.5M

Poll shows deals are happening this summer

Author

Michael Morgenstern
August 06, 2024

Happy Tuesday Brex community,

Last week, we asked if summer VC deals are happening, and 53% of you said yes! Interestingly, many responses came from founders in the Bay Area and NYC. I will continue to be watching fundraising trends in the back half of this year and look forward to speaking with founders about the process.

Ok, so switching gears from fundraising to that post-round moment.

Think about this: you’ve just closed a $2.5M round, and you decide to go all out by spending $1.8M on a massive coming out of stealth mode launch that pulls in 23 million+ views, plus snagging a top-tier URL (which is an asset). Some are critical for spending 72% on marketing pre-product. But this is what pre-seed capital is all about—taking risks and making moves that don’t scale. It's early-stage, and big swings are part of the game.

Investors shouldn’t be complaining; they should be angling for more ownership! We personally love when founders take gutsy moves. So, founders, be intentional, but don't be afraid to go big.

Growing together, Michael Morgenstern

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Luke Fischer is the CEO and co-founder of SkyFi

SkyFi is reshaping the way enterprises access and analyze Earth observation data. With $17 million raised, SkyFi is breaking down barriers to accessing high-resolution satellite imagery and advanced analytics, making these tools available to a wide spectrum of industries. The platform is designed to be intuitive and user-friendly, meeting customers where they are and making geospatial-powered solutions easy to digest. These capabilities ensure that businesses can respond swiftly and accurately to dynamic situations, all through the convenience of a web browser, mobile app, or API.

Ambassadors Perspective: SkyFi is revolutionizing access to high-resolution Earth observation data by simplifying purchasing and providing transparent pricing. With a network of over 100 satellites, they offer a scalable solution that allows for seamless acquisition of geospatial data. By democratizing access to previously esoteric data and offering a user-friendly platform, SkyFi has become one of my favorite companies.

Joshua Siegel is the founding General Partner of Acronym

Acronym is an early-stage venture firm investing in founders building real and sustainable businesses. We specialize in late seed and early A financings for B2B software, tech-enabled, and omnichannel consumer brands generating at least $1M in revenue. As a hands-on fund, Acronym leads, co-leads, or participates in rounds, investing only when it can leverage its network for significant post-investment value add.

Joshua is the founding General Partner and oversees the day to day activities and operations including sourcing and evaluating companies, assisting the current portfolio with corporate development and revenue generation, leading LP relationships, and developing Acronym's professional network. Joshua is a Board Director for Mad Rabbit, Marqii and Penny and is a Board Observer for Confiant, Dataplor, Envoy America, Ingest, Kickfin, Ranktify and Sailes. Joshua is active in the South Florida VC and tech ecosystem and routinely hosts events for VCs, LPs and founders. He is an avid sailor, chef and Dad!

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Don’t hesitate to reach out,🦾!