How do you pitch for VC-funds in Silicon Valley?
In December 2020, Contractbook has announced that it has closed on a $9.4 million Series A investment round, led by Bessemer Venture Partners with participation from existing investors, including Gradient Ventures. It comes less than just one year after, the leading Nordic VC-fund byFounders and Gradient Ventures, which is Google’s AI-focused venture fund, led the company’s $3.9 million seed round.
In this extra-show of the Legal Tech Academy, we have asked Niels Martin Brøchner, CEO of Contractbook, to tell us how it all went down. Brøchner gave us some tips on the art of the deal and took us through the investment deck that secured the investments.
We asked him what it takes to raise money in Silicon Valley, and he shared his advice on how to approach the venture capitalist market in the U.S., how to structure a fundraising deck and what to say when talking to investors from the big VC-funds in Silicon Valley.
After two record-breaking years for legal tech investments, this year has been a bit slower. In 2021, however, the investments are expected to pick up speed again with the general economic recovery. Legal tech is going from niche to something that every major VC-fund is looking to invest in. But how is the market exactly, what are the VC's looking for, and how do you go about it?
Listen to our podcast to find out.