Raising capital is a high-stakes endeavor for startup founders, where the difference between scaling and failing can hinge on funding. The author reflects on his experience with fundraising, particularly a challenging Series A round where he faced 29 rejections before achieving success. Despite a strong product and significant annual revenue, as well as supportive users like top law firms, he encountered difficulties due to his lack of reputation in the legal tech sector. The article emphasizes the importance of perseverance, refining pitches, and adapting to feedback during the fundraising journey.
"I endured 29 'nos' before I heard a 'yes,' and only in retrospect was it clear that it didn't have to be that way."
"Raising our Series A would be tough; I wasn't a lawyer and had no reputation as a founder, and hardly anyone was investing in the legal tech industry."
"I kept refining my pitch and delivery, squeezing out a bit more interest each time, seemingly just one meeting away from success."
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