Using Data Analytics In Fundraising

Founders: use this cheatsheet to understand the current market for startup valuations at Seed, Series A, and Series B. Data is from US startups who raised a primary round from Jan-Sept 2024. Usually these sorts of charts just give a median and track it over time - but in this case, I thought it would be useful to split the data into the full range. From the 10th percentile at the low end to the 90th percentile at the high end. 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗶𝗻𝗴 𝗙𝗶𝗻𝗱𝗶𝗻𝗴𝘀 • Energy consistently has the highest or close to highest upper range across the sectors we studied. Maybe in part due to the high capital needs (which pushes valuations up if dilution is to remain manageable).    • The gap between the lower end of the range (say 10th to 25th percentile) is usually much smaller than the gap between the 75th and the 90th. There really are some wild outlier valuations across most industries.    • Industries are fairly close together at the median valuation at Seed, but the differences become much more stark as you move across the alphabet stages.    • Round sizes have been rising at Seed and Series A across the past year (and a little at B as well, though less so). This has in turn pushed those median vals higher.    • Companies that raise at the 90th percentile have no guarantee of staying on that upper pathway through the next round. Many startups will bounce around in the ranges from round to round.    • There are regional variations - the ranges for Silicon Valley startups will typically be higher at each benchmark than for startups in the Midwest or South. Not right answers in these charts - only a snapshot of real deals being completed. Share with a fundraising founder, and here's to a strong deal season to close 2024! #startups #founders #valuations #fundraising #venturecapital Farm-to-table data, prepared fresh every Thursday morning in our data newsletter. Subscribe at the link in graphic.

No one talks about the data room. Because it’s not sexy. It doesn’t go viral. And most founders think it’s “for later.” But the moment things get serious? You’ll wish you had it ready. ↳ Fundraising kicks off ↳ M&A talks begin ↳ A whale client asks for your SOC 2 ↳ You apply for a grant, award, or B Corp status 📁 Your data room is your business. If your files are scattered across Slack, Notion, 12 tabs, and a dusty Google Drive… You’re not ready to run one. Here’s how to build a data room that’s actually ready: 1/ Start with the basics ↳ Add the must-have docs for your stage (see visual) This isn’t a full due diligence checklist just a strong starting point. 2/ Keep it organized ↳ Label folders clearly. Set proper access for team and investors. 3/ Keep it secure ↳ Once you pass early traction, move off GDrive. Use a VDR with permissions + audit trails. 4/ Keep it updated ↳ Your metrics, cap table, and financials shouldn’t live in someone’s inbox. 5/ Make it accessible ↳ If it’s not easy to find and download, it’s not ready. And most importantly? Let it evolve. Your data room should grow with your business From Pre-Seed to Series C and beyond. Because the goal isn’t just due diligence. It’s internal and operational readiness. What else would you add to the list? ♻️ Share with a founder who needs this. And follow Mariya Valeva for more startup finance insights

An AI named "Ava" just closed a $100,000 planned gift. She manages 140,000 alumni relationships. She never sleeps. And the donor likely didn't know she was software. The sector is calling this the future of fundraising. I'm calling it the consent question nobody wants to ask out loud. Here's what's happening: Virtual Engagement Officers (autonomous AI agents that text, email, and "build relationships" with donors) are being deployed at scale. One platform raised $1.7M across 50 institutions in its first year. Vendors are pitching them as the answer to fundraiser capacity gaps. The pitch makes sense on paper. 70% of donors aren't in any portfolio. Gift officers are stretched. AI can fill the gap. But there's a sentence buried in the Fundraising.AI Responsible AI Framework that almost nobody is quoting: "AI agents should be explicitly constrained to align with sector ethical standards, prioritizing trust and dignity. Fundraising AI systems must not exploit donor vulnerabilities or use undue influence, manipulation, deception or coercion." A donor who thinks they're building a relationship with a person - and isn't - is being deceived by omission. That's not a hypothetical. That's the deployment model. And here's what I keep waiting for and not seeing: A clear position from our professional associations on disclosure. A standard for what donors must be told, and when. A line between "AI helped draft this email" and "AI is the relationship." Right now there isn't one. Vendors are setting the norms. The frameworks are voluntary. The donor has no idea. My take: if you can't tell your donor what you're doing, you shouldn't be doing it. Disclosure isn't a tax on innovation. It's the floor. If you're a CDO, ED, or development director thinking about deploying autonomous AI in your donor engagement, the question isn't "does it work." The question is "would my donor consent to this if I told them?" What would you need to disclose to your top 20 donors before deploying a VEO on your file?

Your Impact Report is Probably Boring (And It's Costing You Donors) One approach puts donors to sleep. The other opens wallets. Which are you choosing? Effective storytelling in impact reports is key. Here's how to do it: Start with a Hook: Before: "We provided 10,000 meals last year." After: "Maria turned our food bank into a stepping stone for her family's future.” Use the "Before and After" Technique: Before: "Our job training program had a 75% success rate." After: "John went from homeless to homeowner in 18 months. Here's how our program made it possible..." Incorporate Sensory Details: Before: "We built a new playground." After: "Where there was once an empty lot, kids now laugh and play. The bright red slides and yellow swings have brought new life to the neighborhood. Parents chat on nearby benches, watching their children make new friends and create lasting memories.” Showcase Donor Impact: Before: "Your donations helped us achieve our goals." After: "Because of supporters like you, Sarah received the life-saving surgery she needed. Here's a letter from her family..." Use Data Visualization: Before: "We increased literacy rates by 40%." After: [Include an infographic showing a child's journey from struggling reader to honor roll student, with key stats along the way] End with a Clear Call-to-Action: Before: "Please consider donating." After: "For just $50, you can provide a month of tutoring for a child like Tommy." How to implement this: ☑️Identify your most compelling success stories ☑️ Gather quotes and personal anecdotes from beneficiaries ☑️Collect before-and-after photos or data points ☑️ Craft your narratives using the techniques above ☑️ Test different versions with a small group of donors ☑️ Refine based on feedback and roll out your new, story-driven impact report

You have 2,500 donors giving under $250 and you're ignoring all of them while chasing 15 prospects who might give $50,000. Here's your current strategy: Your development team spends 80% of their time researching, cultivating, and soliciting major gift prospects. Your board meetings focus on identifying high-capacity donors. Your fundraising committee discusses strategies for approaching wealthy individuals and foundations. Meanwhile, 2,500 people have already raised their hands and said "I believe in your mission enough to support it financially." You're treating them like they don't matter because their average gift is $180. But here's what you're missing: Those 2,500 donors represent $450,000 in annual revenue that's already committed to your cause. More importantly, they represent 2,500 people who could give significantly more with proper attention. Your $100 donor could become a $1,000 donor with strategic cultivation. Your $250 donor might have capacity for $2,500 with the right stewardship approach. Your $150 donor could be your next major gift prospect if you actually built a relationship with them. Even modest upgrades create massive impact: If just 10% of your donor base increased their giving by $200 annually, that's an additional $50,000 in revenue from people who are already committed to your success. Instead, you're ignoring proven supporters while chasing theoretical ones. Those 15 major gift prospects might never give you anything. But those 2,500 existing donors have already demonstrated their commitment to your mission with their wallets. The fastest path to sustainable revenue growth isn't finding new major donors. It's systematically upgrading your existing committed supporter base. Stop overlooking the donors you have while hunting for the donors you don't. Because in fundraising, 2,500 proven supporters are worth more than 15 uncertain prospects.