Fundraising
Send Great Investor Updates
Investor updates are one of the highest-leverage habits a founder can build. They keep existing investors informed, warm up prospective ones, and force you to look clearly at your own numbers every month. An investor who has watched you execute for six months before you raise is far easier to close than one meeting you cold. Send these monthly, without exception, even when the numbers aren't pretty. Consistency signals discipline; silence signals trouble.
Cadence
Send at minimum one update per month. If you're actively trying to convert a prospective investor, consider twice a month or weekly — with a genuine "exciting update" each time, not filler.
Who to include
Send updates to two audiences:
- Current investors — the full picture, including anything sensitive.
- Prospective investors — the ones who said "not yet" or "too early." Keep them on a separate list; you may want to omit certain financials or internal details. The goal is to convince them over time, drip by drip.
Do not give up on investors who passed at an earlier stage. Circumstances change, and consistent updates with real progress can turn a "no" into a "yes" months later.
What to include
Charts — always show month-over-month growth for:
| Metric | Why it matters |
|---|---|
| Revenue | Core signal of business health |
| Spend / Expenses | Shows capital discipline |
| Burn / Profit | Net cash position at a glance |
| Cash on Hand | Absolute liquidity |
| Runway | How long you have at current burn |
| Team Size | Hiring signal |
| Key Product Metrics | Usage, retention, engagement — whatever drives your model |
Narrative updates:
- Key findings from the month
- Highlights — things that went well
- Lowlights — things that didn't (be honest; investors respect candour)
- Asks — if you need help, introductions, or advice, say so explicitly. Investors often want to help but won't know how unless you tell them.
Email template
Subject: [Company Name]: [Month] // [1 Interesting Metric — e.g. 2× MoM revenue, 50 new customers]
[Greeting],
Who we are: [One sentence reminding the reader what you do and how many paying customers you have. Repeat this at the top of every update — investors track many companies and need the context instantly.]
Financials
| This month | |
|---|---|
| Revenue | $## |
| Expenses | $## |
| Burn / Profit | $## |
| Cash on hand | $## |
| Runway | ## months |
Tip: show the last 3–6 months side-by-side (or a rolling average) so investors can see the direction of travel at a glance.
Key metrics
- Revenue by month (chart)
- Subscribers / customers (chart)
- Pipeline (chart)
CEO report
1–2 sentences on how the month went — key highlights and lowlights.
Team
Team size: ##
Brief narrative on hiring, firing, or any notable team changes since last update.
Product
Key updates, findings, or decisions. Include screenshots or short videos where possible — they make updates far more compelling than text alone.
Marketing
High-level summary of notable efforts and results. Cover channels, CACs, and conversion rates. Embed links to any content that performed exceptionally well.
Asks & discussion
This section is where great investor updates earn their value. Be specific — vague asks get ignored.
- Hiring: [Role title] — [one-sentence description] → [link to job post]
- Intros: Looking for introductions to [specific investor type / customer profile / expert].
- Vendors: Trying to find [specific vendor or service].
- Input: Seeking advice on [specific challenge — e.g. pricing, go-to-market, a technical decision].
- Waitlist: "If you'd like early access, reply with 'waitlist me' and I'll follow up in my next update with expansion plans."
Previous updates
- [Month Year] - Add link
- [Month Year] - Add link
Thank you [Investor Name] — genuinely appreciate your support with [specific thing they did]. It made a real difference.
Best, [Founder Name]
Why this compounds
Founders who send consistent, honest updates build trust with their investor base over time. When they go back to raise the next round, those investors already know the story — and they've watched you execute month after month.