Soonicorns Sessions 3 - ER Rollan of Growsari
EPISODE INTRODUCTION
How did Growsari continue to grow after raising Series B last year? ER Rollan joins us again in this episode to share their milestones in Growsari that led them to raise Series C. He will share the changes his team had to make to help them scale faster. ER will also share the new challenges he was faced with by having a rapidly growing startup and how he is currently finding a solution to solve these new challenges.
GUEST LINKS
Follow ER Rollan on LinkedIn .
Find more about GrowSari on their official website.
EPISODE TOPICS
[2:50] The Growth of GrowSari
[5:34] Fundraising for GrowSari
[11:12] Scaling the Team and the Business
[15:11] The Important Metrics for GrowSari
[17:03] ER Rollan Biggest Challenges
[24:46] ER’s Changes as a Founder and a Leader
[31:32] The Most Difficult Decision that ER Made
[34:29] The Experience of Being in Series C
[37:55] What ER Thinks About
[41:12] How ER Stays Focused
[44:55] Tips for Fundraising
[51:58] ER’s Criteria when Looking for Startups to Invest In
[53:20] Tips for Founders
QUOTES FROM THE EPISODE
“Founders should not go after a certain series or a certain amount of money, they should focus on the value they’re trying to create.”
“The difficult meetings force the priorities and the priorities drive the focus.”
“If you delay the difficult things, it’s just going to take a life of its own. You want to be able to catch it when it’s just a smoke, not a forest fire.”
“As a founder, if you love what you’re doing, even though you are stressed, it is what keeps you alive.”
RESOURCES MENTIONED
JARGON USED
Series A - In Series A funding, investors are not just looking for great ideas. Rather, they are looking for companies with great ideas as well as a strong strategy for turning that idea into a successful, money-making business. For this reason, it's common for firms going through Series A funding rounds to be valued at up to $24 million (source: investopedia.com)
Series B Funding - Series B rounds are all about taking businesses past the development stage. Companies that have gone through seed and Series A funding rounds have already developed substantial user bases and have proven to investors that they are prepared for success on a larger scale. Series B funding is used to grow the company so that it can meet these levels of demand. Most Series B companies have valuations between around $30 million to $60 million. (source: investopedia.com)
Series C Funding - In Series C rounds, investors inject capital into the meat of successful businesses, in an effort to receive more than double that amount back. Series C funding is focused on scaling the company, growing as quickly and as successfully as possible. The median pre-money valuation for Series C companies is around $68 million, although some companies going through Series C funding may have valuations much higher. (source: investopedia.com)
IPO - Initial Public Offering. Happens when a private corporation offers their shares to the public.
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