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the world is full Number of companies looking to help streamline the company formation process. Doola is one such startup, for which he has raised $12 million in funding since its founding in 2020. The company has just closed his $1 million “strategic investment round” from HubSpot Ventures, less than a year after raising $8 million in Series A funding. Today we’ll take a closer look at the pitch deck used to bring up that round.
Usually, when a startup raises a small amount of funding after a decent-sized round, something strange is happening – a sign of something unusual. very I plan to plan. But in Doola’s case, HubSpot’s involvement makes sense. Because the marketing software company reaches a large number of customers, Doola’s toolset could fit well into HubSpot’s business model.
We’re looking for more unique proposal decks, so if you’d like to submit your own, you can do so in the following ways:
This deck slide
According to my AI deck review tool, doulas only have a 15% chance of successfully raising funds with this deck alone.
Doola shared 14 slides without editing.
- cover slide
- Funding schedule slide
- problem slide
- solution slides
- product slide
- strategy slide
- Product portfolio slides
- Market size slide
- Mechanism slide
- US market opportunity slide
- Global market opportunity slide
- vision slide
- Team slide(?)
- contact slide
3 things to love
Frankly, just looking at the list above will tell you: a lot Information missing from the deck. In fact, according to my AI deck review tool, a doula only has a 15% chance of successfully raising funds with this deck alone. We’ll get into this later, but first let’s focus on what he did right by Doola. Because Doola does a few things. Unbelievably good:
How to use combination slides effectively
I love using two slides together to tell a compelling story. Doola uses slides 6 and 7 effectively.
[Slide 6] set up. . . image credits: Doula
[Slide 7] . . . And what a reward! image credits: Doula
This is a very effective way to explain your business model indirectly. It also prepares you to explain your business model and monetization plan over time.
A delicate and elegant problem statement
This is a great example of a company that understands its customers. This slide lists many issues, but the doula knows she is speaking to an investor, so she resists the temptation to explain each issue.Investors are painfully We are aware of many of these issues and how they manifest in startups.
[Slide 3] A modest problem statement — a bit of a gamble, but it works here. Image credits: doula
Simplifying things is always a gamble, but I think the doula won the bet in this case. Yes, these are complex, frustrating, and costly problems that are definitely worth solving.
Interesting bottom-up approach to expand market size
[Slide 10] Interesting, but is it a good idea? image credits: Doula
Most startups have had considerable success with a top-down approach (using TAM/SAM/SOM models) to estimate market size. But it’s interesting to see Doola take a different approach to reaching a potential market size of $4.5 billion per year. As I’ve written before, good founders often have to rely on a bottom-up approach when it comes to market sizing. Because there’s nothing else that can match what they’re building.
I’m not sure if that’s the right approach considering there are several competitors in this space, but I like the clarity of this slide.
As I mentioned earlier, this proposal document is missing a huge amount of information. In fact, it’s essentially useless as a traditional pitch deck. I suspect Doola was already in talks with HubSpot Ventures as part of the first round and something prompted him to write a check to HubSpot anyway. Maybe investors had already made up their minds before seeing this material.
In the rest of this teardown, we’ll take a look at three things Doola could have improved or done differently, as well as its full pitch deck.
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