This or That: 7 Tools To Make Your Life Easier When Fundraising

Fundraising can be one of the most challenging parts of building a startup. From crafting the perfect pitch to keeping track of your cap table, the tools you pick can make a big difference in how smoothly things go.

As an investor, I’ve seen plenty of founders navigate the fundraising process, and I can tell you that the right tools can really take a load off your shoulders. Whether you're just starting out or looking to streamline your process, here’s a rundown of some of the best tools available to help you make smart choices every step of the way.

1. Designing Your Deck: Pitch vs. Beautiful.ai

Your pitch deck is the first thing investors will see, so it needs to be clear, compelling, and easy on the eyes.

Pitch: Pitch is a tool built with startups in mind. It helps you create stunning, customizable pitch decks with ease. It offers a bunch of templates, collaboration features, and integrates nicely with other tools like Slack and Notion. If you’re looking for something specifically tailored for startups and you value collaboration, Pitch is a solid choice.

Beautiful.ai: Beautiful.ai takes a different approach by automating the design process, which is great if you’re not a design wizard. It uses AI to suggest layouts, making sure your deck looks polished without much effort. If you want something that looks great with minimal work on your end, Beautiful.ai is your go-to.

Verdict: Go with Pitch if you want more control and collaboration features. Beautiful.ai is perfect if you’re after a sleek design with minimal input.

2. Sharing Your Deck: Google Slides vs. DocSend

Once your deck is polished, the next step is getting it in front of investors. The tool you choose here can affect how your deck is received and tracked.

Google Slides: Google Slides is a simple, free tool that’s great for creating, sharing, and collaborating on presentations in real time. It’s perfect for quick edits and ensures your deck is always up-to-date. However, it doesn’t offer advanced tracking features.

DocSend: DocSend, which is now part of Dropbox, steps up the game by letting you share your deck securely while providing detailed analytics. You can see which slides investors are spending the most time on, giving you valuable insights into what’s working.

Verdict: Use Google Slides for a straightforward, collaborative experience. DocSend is your pick if you want to track investor engagement closely.

3. Signing Agreements: HelloSign vs. DocuSign

When it comes to signing agreements, you want the process to be fast and secure. These tools make that happen without a hitch.

HelloSign: HelloSign is known for being user-friendly and secure. It integrates well with tools like Google Drive and Slack, making it easy to manage documents. It’s a great option for startups because it’s affordable and simple to use.

DocuSign: DocuSign is a big name in the e-signature world. It offers a lot of features, including advanced authentication and plenty of integrations. It’s a bit pricier, but its reliability and global compliance make it a great choice for companies of all sizes.

Verdict: HelloSign is perfect if you’re looking for something simple and cost-effective. DocuSign is worth the investment if you need a more robust solution with international reach.

4. Managing Your Data Room: Notion vs. Google Drive

Having a well-organized data room is key when it comes to due diligence. This is where you store and share important documents with potential investors.

- Notion: Notion is a versatile tool that lets you take notes, manage tasks, and collaborate, all in one place. It’s great for creating a data room that’s organized and interactive. You can link related documents, add comments, and keep everything in one spot. It’s a favorite among tech-savvy founders for good reason.

- Google Drive: Google Drive is a tried-and-true option for managing your data room. It’s easy to use, widely accepted, and integrates well with other Google Workspace tools. While it’s not as customizable as Notion, it’s super user-friendly and reliable.

Verdict: Choose Notion if you want a more dynamic and interactive data room. Google Drive is your go-to for simplicity and broad compatibility. P.s Docsend also has data room functionalities.

5. Cap Table Management: Carta vs. Ledgy

Keeping your cap table in order is crucial as your company grows and takes on new investors.

Carta: Carta is the gold standard in cap table management. It’s a comprehensive platform that tracks equity, handles valuations, scenario modeling, and ensures compliance. Its user-friendly interface and extensive support make it a top choice for scaling startups.

Ledgy: Ledgy is a newer option that offers a more modern and flexible approach to cap table management. It’s especially strong in managing complex equity structures and provides real-time insights. If you’re looking for something innovative, Ledgy is worth checking out.

Verdict: Carta is a safe bet for established startups needing a full-featured solution. Ledgy offers a fresh take and might appeal to those looking for something new and innovative.

6. Performance Reporting: Visible vs. Angel Loop

Keeping investors in the loop with performance reporting is key. While Visible is designed specifically for this, Angel Loop is another solid option that focuses on streamlining communication with investors.

Visible: Visible makes it easy to create and share performance reports with your investors. It connects with various data sources, letting you automate updates and keep things consistent. It’s a must-have for startups that prioritize transparency and investor relations.

Angel Loop: Angel Loop is a platform designed to simplify the process of updating and engaging with your investors. It offers tools for performance reporting, document sharing, and communication, all in one place. If you’re looking for a tool that helps you keep your investors in the loop without a lot of hassle, Angel Loop is a great alternative.

Verdict: Go with Visible if you need a dedicated tool for automating investor reports. Choose Angel Loop if you’re looking for an all-in-one solution that focuses on investor communication.

7. Investor or Community Newsletters: Mailchimp vs. Brevo

Regular investor updates are crucial to keeping your backers or potential investors informed and showing progress.

- Mailchimp: Mailchimp is one of the most popular email marketing platforms out there. It’s packed with features for creating, sending, and tracking emails. Its templates and analytics make it easy to create professional updates, though it’s more geared toward marketing than investor-specific communication.

- Brevo: Brevo (formerly Sendinblue) is a more budget-friendly alternative to Mailchimp, focusing on simplicity and effective communication. It’s got the essential email tools without all the extras, making it a solid choice for startups that just need straightforward investor updates.

Verdict: Go with Mailchimp if you want a feature-rich platform with plenty of templates and analytics. Brevo is perfect for those looking for a cost-effective, no-frills solution.

Final Thoughts

Fundraising is no small feat, but with the right tools, you can make the process a whole lot smoother. Whether you’re working on your pitch deck, managing your cap table, or keeping investors updated, each of these tools offers something unique to help you get the job done.

By choosing the ones that best fit your needs, you can streamline your operations, focus on growth, and ultimately, close your fundraising round with confidence. Good luck, and happy fundraising!

Want to receive the next post directly in your inbox? Subscribe HERE

Maria