How vc's saved my startup

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Jon: When you said you raised a little bit of seed funding out of 500 Startups,

what did that round look like? Did you raise on saves? Did you raise on price

rounds? What kind of capital are we talking about and what valuation range?

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Raad: The total raised to date before we did this recent Series A was about $3.7M.

That wasn’t all at once. We did our seed round which was, roughly, around

$3M including 500’s investment as well as from Draper Associates, Graph Venture,

and Social Capital.

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Then we did two bridges after that on a safe. The first initial one was a price round,

then we did a cap safe in 2017, which was around $12M.

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This is one of the benefits of working with institutions. They helped us out and

wrote us another check when the business wasn’t doing well. I don’t know if

we’d still be here without that extension. It extended our runway, which allowed

us to then buy more time to figure out the business model. It got us where we are now.

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