Most founders get investor outreach wrong.
They spray generic emails. Send pitch decks into the void. Wonder why nobody responds.
The investors who do reply? Often not the right fit. Wrong stage. Wrong industry. Wrong geography.
This guide shows what actually works. Based on data from founders who successfully raised capital. Not theory. Real tactics that get meetings.
Track your investor outreach
Before diving into strategies, you need the right tools.
Sending pitch decks blindly wastes everyone's time. You need to know: Who opened it? What caught their attention? When to follow up?
Ellty solves this. Upload your deck. Get a trackable link. See exactly who's interested.
Free tier includes 50 tracked documents. Start seeing what works.
Foundation
Know Your Numbers
Investors see patterns. They know benchmarks. Come prepared.
For B2B SaaS: Monthly recurring revenue. Growth rate. Churn. Customer acquisition cost. Lifetime value.
For marketplaces: Gross merchandise value. Take rate. Supply/demand growth. Unit economics.
For consumer apps: Daily active users. Retention cohorts. Engagement metrics. Path to monetization.
Don't inflate. They'll find out during diligence anyway.
Target the Right Investors
Reaching out to every investor wastes time. Filter ruthlessly.
Check their portfolio. Do they invest in your industry? Your stage? Your geography?
A fintech seed investor won't fund your Series B marketplace. A B2B-focused fund won't understand your consumer app.
Use databases like Crunchbase or AngelLis. Filter by recent investments in similar companies.
Prepare Your Materials
One-pager: Problem, solution, traction, team. One page. No exceptions.
Pitch deck: 10-15 slides. Tell a story. Show traction. Be specific about the ask.
Financial model: Simple but thorough. Show you understand unit economics.
Data room: For serious conversations. Cap table, contracts, detailed financials.
Outreach process
Warm
The data is clear. Warm introductions convert 10x better than cold outreach.
Start with your network. Who knows investors? Advisors, other founders, lawyers, accelerator partners.
Ask for specific introductions. "Could you introduce me to Sarah at Sequoia?" beats "Do you know any investors?"
Make it easy. Write a forwardable blurb. Include what you do, traction, and why that specific investor fits.
Cold
Sometimes you need to go direct. Do it right.
Subject line: Clear and specific. "Series A for B2B marketplace with $2M ARR" beats "Investment opportunity."
First paragraph: Who you are. What you've built. One impressive metric.
Second paragraph: Why them specifically. Reference their portfolio. Show you did homework.
Third paragraph: Clear ask. Coffee meeting. Phone call. Specific and reasonable.
Attachment: Don't attach full deck. Include one-pager or trackable link.
Example that works:
"Hi Sarah,
I'm John, founder of TechCo. We've built a B2B marketplace that connects manufacturers with suppliers, currently at $2M ARR growing 20% monthly.
Noticed your investments in B2B marketplaces like SupplyCo and VendorHub. We're solving similar inefficiencies in manufacturing procurement.
Would you have 20 minutes next week for a call? I can share how we're approaching the market differently.
Best, John [trackable deck link]"
LinkedIn outreach strategy
LinkedIn works if done thoughtfully.
Don't send connection requests with pitches. Connect first, engage with their content, then reach out.
When messaging, keep it shorter than email. Reference recent posts or portfolio news. Make it conversational.
Many investors prefer LinkedIn because it's less formal. But respect their preferences. Some explicitly say "no LinkedIn pitches."
Follow-up
This is where tracking matters.
Traditional approach: Send deck, wait two weeks, follow up blindly.
Better approach: Send trackable deck, see engagement, follow up strategically.
If they spent 10 minutes on your financials, follow up with revenue details. If they skipped to team slide, emphasize founder-market fit.
No engagement after a week? One polite follow-up, then move on.
Control every aspect of your pitch deck
Investors forward decks. Screenshots get shared. Confidential info spreads.
Ellty gives you complete control:
- Password protection - Only serious investors get access
- Screenshot blocking - Prevent unauthorized captures
- Link expiration - Set time limits for sensitive data
- Email verification - Know exactly who's viewing
- Download control - View only, no local copies
- Custom domains - your-company.com/pitch
Common mistakes
Being too early. "Pre-revenue with no product seeking $2M" rarely works. Build more first.
Wrong ask amount. Seed investors write $500K checks, not $5M. Research check sizes.
Geographic mismatches. SF investors rarely fund Atlanta startups unless exceptional.
Desperation timing. Fundraising with 2 months runway shows poor planning. Start early.
Mass mailing. "Dear investor" emails get deleted. Personalization matters.
Following up excessively. Two follow-ups maximum. They saw your email.
After the first meeting
Got a meeting? You're not done yet.
Send thank you email within 24 hours. Include:
- Key points discussed
- Answers to their questions
- Clear next steps
Share additional materials they requested. Use trackable links to gauge continued interest.
If they pass, ask for feedback and referrals. "Not a fit" often comes with "but you should talk to..."
Building long-term relationships
Fundraising isn't transactional. Start building relationships before you need money.
Share monthly updates with interested investors. Even those who passed. Markets change. Timing matters.
Engage thoughtfully with their content. Comment substantively on their posts. Share relevant articles.
When you hit milestones, let them know. That "too early" investor might be ready now.
International considerations
Reaching non-local investors requires extra work.
Time zones matter. Schedule calls at reasonable hours for them. Use tools like Calendly with timezone detection.
Understand their investment thesis. US investors in European startups look for US expansion plans. Asian investors might want regional expertise.
Legal structures matter. Delaware C-Corp for US investors. Local requirements vary.
Metrics
Track your outreach effectiveness:
Response rate: Under 10%? Improve your targeting or messaging.
Meeting conversion: Responses not converting to meetings? Traction might be too weak.
Deck engagement: Low view times? Deck might need work.
Follow-up success: Second meetings rare? First meeting pitch needs refinement.
Your next steps
- Build target list of 50-100 relevant investors
- Prioritize by fit and recent activity
- Identify warm introduction paths
- Prepare trackable materials
- Start with 5-10 quality outreaches
- Track engagement and iterate
The best time to fundraise is when you don't need to. Start building relationships now.
Use tools that give you intelligence. Know who's interested. Follow up strategically.
Most importantly: keep building. The best investor outreach is growth that makes them come to you.
