By Beck Bamberger, Founder BAM contactsA PR firm for VC-backed tech startups, as well as OnePitch, a pitch platform for journalists and advertisers.
Cover Good luckAn invitation to speak at TED and a front-page feature Wall Street Journal All examples of what No Expect when your venture-backed startup raises a round of capital. I wanted to put it up front. Many of the venture-backed founders we speak to and represent have outlandish expectations and dreams about announcing a round of funding.
Of course, this is somewhat expected. Founders are dreamers and often outsiders in many respects. However, there is no media, and when the funding rounds Less in 2022I hope this article provides the honest “safeguards” that expectations for financial announcements should have.
A full feature article
Yes, you can get a full feature article. In most cases, getting a media outlet to do an “exclusive” or full article is our strategy for financial announcements. That said, our goal, and the expectation we often set for our venture-backed startups, is to get a full-feature article in a particular medium that we pursue. As great as our relationships are, it usually takes one to four weeks for an exclusive to arrive as reporters juggle multiple assignments and requests.
To be clear, this does not mean that the exclusivity is on the business unit’s cards The New York Times or on the front page Financial Times. Both of those outlets, considered “top tier” for their accessibility and quality, don’t focus on seed-, Series A-, B- or C-funded startups on their front pages—although that’s unlikely. Stories can often be placed in some store online.
The exception to this “one whole feature” strategy is for late-stage and major venture-backed startups going to an IPO. A solid PR firm can enlist the best reporters and media outlets for your niche strategy. Insider, Forbes, TechCrunch, Crunchbase, Venture Beat, Wall Street Journal Even more.
Notes and additions
There are dozens of great newsletters like Fortune Time Table And Definitely VC, and many other trading outlets can use your financial news for additional tips and additions, depending on your industry. Notes and inclusions include your funding amount, investors, and what your startup is doing in small sections of the daily newsletter. These tips and additions shouldn’t be discounted, as they can target your audience and add more awareness to your fundraising messages. For notes and additions, reporters will not request interviews, but must rely on information provided by your PR team, press kit, or press release.
Kickstart is ongoing PR
Media creates media because all reporters research and read what their colleagues write, especially from competing outlets. After a funding announcement, a PR firm should take full advantage of the media momentum and pre-release interviews and additional news they may not have fully published.
However, an important point here is the concept of “performance”. Unless you’re working with an aggressive agency or running a media machine yourself, the media generally isn’t looking for newly funded startups.
Investors, top talent, and potential partners you talked to a year ago can often fill your inbox, along with countless sales reps, recruiters, and consultants. I’ve seen many clients land their biggest client to date, secure their next lead investor, and find a big takeaway from a well-executed funding announcement.
Ultimately, your funding announcement won’t immediately get you a magazine cover or an invitation to the World Economic Forum. Ezra Royson, editor The Magic Box Paradigm: A Framework for Startup Acquisitions, it is often said, “Acquisitions are like children. They happen every day, but each one is a miracle. The same applies to financing. Your fundraising is important to you as the founder, but funding rounds happen every day, even in a down or corrected market. A full article, additional coverage and references, and some great insights are all within reasonable expectations.