Funded | How They Raised Millions

TBC 141: Why Investors Tune Out Before You Get Started

31 Dec 2025

Contributed by Lukas

A lot of founders jump straight to trying to sound impressive in a pitch. That usually backfires. In this episode of Back Channel, I break down the st...

TBC 140: How to Actually Get to Calendar Density

17 Dec 2025

Contributed by Lukas

I want to walk through a real example of a founder who is doing the fundraising work the right way. Not theory. Not vibes. Actual behavior that leads ...

TBC 139: Hitting the Resonant Frequency With Investors

15 Dec 2025

Contributed by Lukas

I’ve been thinking about a fundraising idea that keeps showing up once you’ve pitched enough rooms. I call it the resonant frequency of investors....

TBC 138: Interview with Aaron Ginsburg (Accredited Investors + SAFEs)

11 Dec 2025

Contributed by Lukas

I finally brought a guest onto The Back Channel, and it’s for a good reason. A founder hit me with a question about SAFEs that made me pause a bit l...

Ariana Thacker – From “Too Niche” to $8M for Mold Co from Cantos and Collab Fund | Ep 58

25 Nov 2025

Contributed by Lukas

On this episode of Funded, Ariana Thacker, founder and CEO of Mold Co., shares how she went from running a successful VC fund to building a company mo...

TBC 137: Grease the Friction in Fundraising

09 Oct 2025

Contributed by Lukas

In this episode of The Back Channel, Jason Yeh unpacks the hidden friction points that often derail fundraising. He explores why investors hesitate an...

TBC 136: Time-Saving Fundraising Strategies

02 Oct 2025

Contributed by Lukas

In this episode of The Back Channel, Jason Yeh reveals key time-saving strategies to ensure your fundraising efforts stay on track. He emphasizes the ...

Minna Song (EliseAI) — From Crazy Early in Conversational AI to $250M from A16Z | Ep 57

30 Sep 2025

Contributed by Lukas

Raising money for AI might seem easy today, but back in 2017, it was anything but. In this episode of Funded, Jason Yeh sits down with Minna Song, co-...

TBC 135: Ask for Help: Fundraising Storytelling

25 Sep 2025

Contributed by Lukas

In this episode of The Back Channel, Jason Yeh dives into the power of asking for help, especially when it comes to fundraising and storytelling. Draw...

TBC 134: Building a Helpful Network Ethic

18 Sep 2025

Contributed by Lukas

In this episode of The Back Channel, Jason Yeh explores the power of building a network rooted in small, genuine acts of helpfulness. Jason breaks do...

TBC133: How to Close an Angel Round

17 Jul 2025

Contributed by Lukas

In this episode of The Back Channel, Jason Yeh breaks down what it really takes to close an angel round. From the mindset shift founders need to the ...

TBC132: The Right Type of Investor

10 Jul 2025

Contributed by Lukas

Not all investors are created equal. In this episode of The Back Channel, Jason Yeh explains why some businesses struggle to raise capital—not beca...

TBC131: The Human Side of Investor Relationships

03 Jul 2025

Contributed by Lukas

What is the true meaning of “relationship” in fundraising and business? Jason breaks it down in this episode and challenges the common misconcepti...

TBC130: The First Lesson of AI in Fundraising

26 Jun 2025

Contributed by Lukas

In this episode of The Back Channel, Jason Yeh dives into the role of AI in our daily workflows, offering encouragement, a cautionary take, and his f...

TBC129: Fundraising in the Age of AI

29 May 2025

Contributed by Lukas

In this episode of The Backchannel, Jason breaks down what it really means to fundraise in an AI-dominated world. If you’re not building core AI inf...

TBC128: Focus on What Matters

22 May 2025

Contributed by Lukas

In this episode of The Backchannel, Jason reflects on a recent conversation with a robotics founder that reminded him how powerful it is to focus on ...

TBC127: Why Talking Too Much Is Killing Your Pitch

15 May 2025

Contributed by Lukas

In this episode, we share a powerful lesson from a recent pitch practice session with a founder whose natural charisma backfired. While being articula...

TBC126: When VCs Start Dreaming With You

08 May 2025

Contributed by Lukas

In this episode we share the fundraising version of product market fit—what it feels like when a VC starts dreaming alongside you. We break down wha...

TBC125: What I Learned Coaching HBS Founders on Fundraising

01 May 2025

Contributed by Lukas

In this episode of The Back Channel, I reflect on a recent visit to Harvard Business School where I coached founders in Jeff Bussgang’s Launching Te...

TBC124: The Power of Helping When You Can (HBS Story)

24 Apr 2025

Contributed by Lukas

In this episode, we explore how one small act of generosity can shape long-term relationships in venture capital. Jason shares a story from a recent t...

Alex Salazar on Taking Arcade from Zero to a $12M Round (Alex Salazar / Arcade - Ep 56)

22 Apr 2025

Contributed by Lukas

Alex Salazar didn’t need to prove he could build a company. He’d already done that and sold it, then spent time as a VC, and had the kind of backg...

TBC123: Can You Pitch a Big Vision?

17 Apr 2025

Contributed by Lukas

In this episode of The Back Channel, we talk about the pressure founders feel to pitch a massive vision — and what actually makes that land with inv...

TBC122: Early Signals That Matter to Investors

10 Apr 2025

Contributed by Lukas

In this episode, we'll talk about green flags—the little things founders say or do that quietly leave a strong impression on investors. I share a st...

TBC121: The Fundraising Equation [T(G) - T(TI)]

03 Apr 2025

Contributed by Lukas

In this episode of The Backchannel, we break down a simple but powerful equation to help founders understand why some investor meetings turn into mome...

TBC120: The LP Problem No One Talks About

27 Mar 2025

Contributed by Lukas

In this episode of The Backchannel, we start with a tweet from Peter Walker at Carta and dig into what it means when a big chunk of LPs in smaller fun...

TBC119: The State of the Fundraising Market in 2025

20 Mar 2025

Contributed by Lukas

Is pre-seed fundraising harder than ever? In this episode of The Backchannel, we break down how expectations for early-stage startups have shifted. In...

How Brian Sheng Closed a $112M Round for Aquaria (Brian Sheng / Aquaria - Ep 55)

18 Mar 2025

Contributed by Lukas

Raising money isn’t just about convincing investors—it’s about surviving long enough to do it. Brian Sheng, founder of Aquaria, bootstrapped mil...

TBC118: How to Create Urgency and Set Deadlines in Fundraising

13 Mar 2025

Contributed by Lukas

Setting deadlines in fundraising can be a powerful tool—or a costly mistake. In this episode of The BackChannel, we break down how founders should t...

TBC117: What Are the Toughest Questions Asked When Pitching?

06 Mar 2025

Contributed by Lukas

Investors love to test founders with tough questions—but what if you don’t know the answer? In this episode, we break down a real pitch meeting wh...

TBC116: Finding the Perfect Blend of Data and Narrative

27 Feb 2025

Contributed by Lukas

In this episode of the Back Channel, we explore the art of storytelling and the balance between hard facts and narrative. A founder’s question spark...

TBC115: Are You on the Right Fundraising Path?

20 Feb 2025

Contributed by Lukas

Most founders assume venture capital is the only way to fund their startup, but is it really the right path for you? In this episode of The Backchanne...

TBC114: Holding Myself Accountable: 2025 Goals Check-In

13 Feb 2025

Contributed by Lukas

In this episode of The Backchannel, I’m sharing some thoughts on goals for the year—what I’m focusing on, what’s working so far, and what stil...

TBC113: Convincing Investors During Slow Growth Phases

06 Feb 2025

Contributed by Lukas

How do you convince investors to back you when your company’s growth has been stagnant? In this episode, we explore a question from a founder about ...

TBC112: Fundraising Advantages... Are They Real?

30 Jan 2025

Contributed by Lukas

In this episode of The Backchannel, Jason reflects on his own fundraising experience and breaks down the layers of what it really takes to secure inve...

How Andrés Ornelas Vargas Closed a $2.2M Round for Verve Market (Andrés Ornelas Vargas / Verve Market - Ep 54)

28 Jan 2025

Contributed by Lukas

In this episode, we sit down with Andrés Ornelas Vargas, founder of Verve, to discuss his journey from 150 investor conversations to closing a $2.2M ...

TBC111: The NEW Bar for Raising Pre-Seed Rounds

23 Jan 2025

Contributed by Lukas

This episode of The Backchannel breaks down how the expectations for early-stage founders have shifted in the AI era. Inspired by a conversation with ...

TBC110: Happy New Year Supercharging Tip!

16 Jan 2025

Contributed by Lukas

In this New Year’s episode of The Back Channel, we talk about the power of simple outreach and why reconnecting with your network can be the best bu...

TBC109: Should You REALLY Be Raising From VCs?

09 Jan 2025

Contributed by Lukas

In this episode of The Backchannel, we ask a critical question for founders: Should you actually be raising venture capital? We break down why most fo...

TBC108: The Power of Closing Dates in Fundraising

02 Jan 2025

Contributed by Lukas

In this episode of The Backchannel, we break down the concept of closing dates in fundraising and why they’re a powerful psychological tool rather t...

TBC107: High Valuations vs. Simple Structure

26 Dec 2024

Contributed by Lukas

In this episode of The Backchannel, we dive into the trade-offs between maximizing valuation and keeping deal terms simple. Whether you're a founder c...

How John Patrick Mullin Closed a $11M Round for MANTRA (John Patrick Mullin / MANTRA - Ep 53)

24 Dec 2024

Contributed by Lukas

In this episode of Funded, we sit down with John Patrick Mullin, founder of MANTRA, to explore the realities of raising capital in the volatile world ...

TBC106: Mastering Final VC Meetings

19 Dec 2024

Contributed by Lukas

In this episode of The Backchannel, we explore how to prepare for final VC meetings, what investors are really looking for, and how to handle the pres...

TBC105: How to Build Momentum During a Fundraise

12 Dec 2024

Contributed by Lukas

In this episode of The Backchannel, we explore strategies to help a founder turn investor interest into momentum during a challenging fundraise. From ...

TBC104: Why Raise From Angels PART TWO

05 Dec 2024

Contributed by Lukas

In this episode of The Backchannel, we talk about the realities of raising capital and why many founders may not be ready for venture funding. Instead...

TBC103: Why Founders Should Consider Raising From Angels

28 Nov 2024

Contributed by Lukas

In this episode of The Backchannel, Jason unpacks why many founders struggle to raise capital in today’s cautious VC environment and offers alternat...

How Ron Belldegrun Closed a $95M Series C for ByHeart (Ron Belldegrun / ByHeart - Ep 52)

26 Nov 2024

Contributed by Lukas

In this episode, Ron Belldegrun, co-founder of ByHeart, shares how he raised over $300 million to transform the infant formula industry with cutting-e...

TBC102: A Tale of Two Investors

21 Nov 2024

Contributed by Lukas

In this episode of The Backchannel, we dive into a personal story that brings three critical fundraising lessons to life. Learn why early-stage fundra...

TBC101: The Importance of Jumping on Planes

14 Nov 2024

Contributed by Lukas

In this episode of The Backchannel, we explore why making in-person connections can be a game-changer for founders. Recorded on location in Austin, Te...

TBC100: Likability vs. Brilliance

31 Oct 2024

Contributed by Lukas

In this episode of The Backchannel, we're dropping a quick but essential take on balancing brilliance and likability and how both play into the fundra...

How Curtis Northcutt Closed a $25M Series A for Cleanlab (Curtis Northcutt / Cleanlab - Ep 51)

29 Oct 2024

Contributed by Lukas

In this episode, Curtis Northcutt, MIT PhD and founder of CleanLab, shares his compelling journey from rural Kentucky to raising $25 million from Menl...

TBC99: How Anxiety Ruins Warm Intros

24 Oct 2024

Contributed by Lukas

In this episode of The Backchannel, we're diving into the role anxiety plays in fundraising, especially when it comes to warm introductions with inves...

TBC98: GPs Have Trouble Raising Too

17 Oct 2024

Contributed by Lukas

In this episode of The Backchannel, we’re talking about how VCs need to raise money too, not just startups.

TBC97: How to Build Awareness as a Founder the Right Way

10 Oct 2024

Contributed by Lukas

In this episode, we dive into the concept of awareness for founders, focusing on how to effectively create it.

TBC96: How to Handle the Heat of an Investor Pitch

03 Oct 2024

Contributed by Lukas

In this episode of The Backchannel, we talk about handling the pressure of investor pitches. Many founders feel anxious about facing tough questions...

How Teasha Cable Closed a $1M Seed Round for CModel (Teasha Cable / CModel - Ep 50)

01 Oct 2024

Contributed by Lukas

After bootstrapping her company for months, Teasha Cable, founder and CEO of CModel decided it was time to raise. But early on, the rejections came in...

TBC95: Types & Motivations of Angel Investors

26 Sep 2024

Contributed by Lukas

In this episode of The Backchannel, we explore the different types of angel investors you’re likely to encounter early on in your startup journey.

TBC94: Unpacking Uncapped SAFEs

19 Sep 2024

Contributed by Lukas

In this episode of The Backchannel, we explore the ins and outs of valuation caps and uncapped SAFEs. Many founders toss around terms like valuation c...

TBC93: Valuations, SAFEs & Convertible Notes Explained

12 Sep 2024

Contributed by Lukas

In this episode of The Back Channel, Jason tackles the often misunderstood concept of valuation caps in fundraising. He walks through what a valuati...

How Michael Diesu Closed a $2.5M Seed Round for Revenue Roll (Michael Diesu / Revenue Roll - Ep 49)

10 Sep 2024

Contributed by Lukas

In today's episode, we hear from Michael Diesu, co-founder & CEO of Revenue Roll on how he raised his $2.5M seed in one of the toughest markets Ventur...

TBC92: Revisiting Post-Money vs Pre-Money Cap SAFEs

05 Sep 2024

Contributed by Lukas

In this episode of The Backchannel, we revisit a fundamental topic that every founder should understand: post-money cap SAFEs and their implications.

TBC91: Investor Lists & Launching a Fundraise (HOW TO)

29 Aug 2024

Contributed by Lukas

In this episode of The Backchannel, Jason dives into one of the most overlooked yet essential tasks in fundraising: building your target investor list...

How Christal Wang Closed a $2.2M Seed Round for Shimmer (Christal Wang / Shimmer - Ep 48)

27 Aug 2024

Contributed by Lukas

In today’s episode, I chat with Christal Wang, co-founder and CEO of Shimmer, the top ADHD coaching platform for adults. Christal shares her journey...

TBC90: What Do Pre-Seed & Seed Rounds Look Like in This Market?

22 Aug 2024

Contributed by Lukas

In this episode of The Backchannel, we dive into a topic that’s been on a lot of founders’ minds: the difference between pre-seed and seed rounds ...

TBC89: Why You Need Deadlines for Your Raise

15 Aug 2024

Contributed by Lukas

In this episode of The Backchannel, the focus is on the critical role deadlines play in successful fundraising efforts.

How Orri Bogdan Raised a $2M Seed Round for VAE Labs (Orri Bogdan / VAE Labs - Ep 47)

13 Aug 2024

Contributed by Lukas

In this episode, we explore the realities of fundraising with Orri Bogdan, Founder and CEO of VAE Labs.

TBC88: How To Show VCs Traction

08 Aug 2024

Contributed by Lukas

In this episode of The Back Channel, we explore a critical topic for founders: showcasing traction to VCs.

TBC87: Answering Founders Questions About The Fundraising Process

01 Aug 2024

Contributed by Lukas

In this episode of The Backchannel, we revisit a popular topic among founders: how to create efficient fundraising processes. We address several quest...

How Coco Brown Raised $2.5M in Venture Capital for Athena Alliance (Coco Brown / Athena Alliance - Ep 46)

30 Jul 2024

Contributed by Lukas

In this episode, we sit down with Coco Brown, founder of Athena Alliance, to discuss her journey of transforming a nonprofit into a venture-backed ent...

TBC86: How Do I handle Inbound Interest From VCs?

25 Jul 2024

Contributed by Lukas

In this episode, we're tackling an important startup scenario: unexpected VC interest.

TBC85: 5 Controversial Fundraising Ideas

18 Jul 2024

Contributed by Lukas

In this episode of The Back Channel, we dive into five thought-provoking strategies to elevate your fundraising game while challenging existing advice...

How Brian Raymond Raised $65 Million in Funding for Unstructured IO (Brian Raymond / Unstructured IO - Ep 45)

16 Jul 2024

Contributed by Lukas

In this conversation we hear how Brian Raymond started Unstructured and how he was able to raise 3 rounds of funding, adding up to over $65M, in just ...

TBC84: Why Smart People Struggle With Fundraising

11 Jul 2024

Contributed by Lukas

In this episode of The Backchannel, the focus is on why intelligent individuals often struggle with pitching to investors.

TBC83: Answering Founders Questions About Pitch Decks

05 Jul 2024

Contributed by Lukas

In this episode of The Backchannel, Jason answers 5 questions submitted by founders about pitch decks and pitching strategies.

How Analisa Goodin Raised Over $31 Million in Funding for Catch+Release (Analisa Goodin / Catch+Release - Ep 44)

02 Jul 2024

Contributed by Lukas

Analisa Goodin, Founder and CEO of Catch+Release shares how she was able to raise three successful rounds of capital. Analisa shares the ups and downs...

TBC82: Understanding VC Signals

27 Jun 2024

Contributed by Lukas

VC signals can be tricky. A lot of them are deeply intertwined with social dynamics and can change investor interest in a matter of seconds.

TBC81: Answering Your Questions About Getting Passed On

20 Jun 2024

Contributed by Lukas

Welcome back to The Backchannel! In this episode, we're trying out a new format where we dive into your burning questions about how founders should na...

The Story Behind Incognia's Pivot & How it Led Them to Raise $45.6M

18 Jun 2024

Contributed by Lukas

When life throws you tough times, you only have two options: to give up or find a solution. Today's guest felt slightly differently when they ran in...

TBC80: Why Monthly Investor Newsletters Might Be a Bad Idea for Founders

13 Jun 2024

Contributed by Lukas

In this episode of The Backchannel, Jason pushes back at the common practice of founders sending out monthly investor newsletter updates.

TBC: Is Silicon Valley Still the Place to Be for Startups? (TBC79)

06 Jun 2024

Contributed by Lukas

In this episode of The Backchannel, the host Jason dives into an article from the Bay Area Council Economic Institute, which talks about Silicon Valle...

The Story Behind Lex's $5.6M Seed Round (Jennifer Lewis / Lex - Ep 42)

04 Jun 2024

Contributed by Lukas

In this episode, we dive into the unpredictable world of startups, where the only constant is change. Joining us is Jennifer Lewis, co-founder and CEO...

TBC: How Much Should I Raise? (TBC78)

30 May 2024

Contributed by Lukas

In this episode of The Backchannel, we explore everything you should consider when figuring out how much you need to raise. Jason delves into the comm...

TBC: How I Work - For Easily Distracted Founders (TBC77)

23 May 2024

Contributed by Lukas

In this episode of The Backchannel, the host launches a new series called "How I Work," exploring strategies for productivity.

The Journey of Ian Swanson Starting 3 Venture-Backed Successes (Ian Swanson / Protect AI)

21 May 2024

Contributed by Lukas

What makes someone a successful founder? Is it how much revenue they're able to generate? How well they lead their company and their employees? How ...

TBC: Why Every Founder Needs Third-Party Feedback (TBC76)

16 May 2024

Contributed by Lukas

In this episode of The Backchannel, the host emphasizes the critical role of third-party feedback in the fundraising process for entrepreneurs.

TBC: Pro Tip for VC's - The Personal Newsletter (TBC75)

09 May 2024

Contributed by Lukas

In this episode, the host shares the power of personal newsletters for VC's, shedding light on investor psychology and fundraising strategies.

How Nancy Xu Raised $10M for Moonhub (Nancy Xu / Moonhub - Ep 40)

07 May 2024

Contributed by Lukas

Join us on a journey through the winding roads of entrepreneurship with our guest, Nancy Xu, the Founder & CEO of Moonhub.

TBC: How & Why to Get a Technical Co-founder (TBC74)

02 May 2024

Contributed by Lukas

In this episode, our host covers the importance of having a technical co-founder for non-technical founders and how to go about finding one.

TBC: Addressing Competition With Investors (TBC73)

25 Apr 2024

Contributed by Lukas

In this episode of the Back Channel, we explore the importance of addressing competition during investor meetings.

The Story Behind SGNL Raising $22M in 2 Years (Scott Kriz / SGNL - Ep 39)

23 Apr 2024

Contributed by Lukas

There's a quote from Abraham Lincoln that always really speaks to me: "Give me 6 hours to chop down a tree and I will spend the first 4 sharpening my ...

TBC: Understanding VC Firms to Send the Right Signals (TBC72)

18 Apr 2024

Contributed by Lukas

In this episode of The Backchannel, host Jason Yeh delves into the world of junior VCs and their path to becoming venture capitalists.

TBC: Dilution 101 For Founders (TBC71)

11 Apr 2024

Contributed by Lukas

Dilution is one of those things that a lot of founders seem to 'lightly' understand.

The Story Behind Purple Metrics Closing Their $1.2M Pre-Seed Round (Guta Tolmasquim / Purple Metrics - Ep 38)

09 Apr 2024

Contributed by Lukas

Bootstrapping and raising venture capital are two different beasts. Bootstrapping gives you control, but growth is slower. Venture capital speeds thin...

TBC: Why the Pre-Seed Round Was Created... and How It's Changed (TBC70)

04 Apr 2024

Contributed by Lukas

A lot of people tend to forget that the pre-seed round in venture capital is still relatively new.

TBC: Taking Advice From Charlie Munger (TBC69)

28 Mar 2024

Contributed by Lukas

Have you ever heard of the quote "The safest way to get what you want is to deserve what you want"?

The Story Behind Atlys Raising $16.3M in Venture Capital (Mohak Nahta / Atlys - Ep 37)

26 Mar 2024

Contributed by Lukas

Most of us have heard the saying "good things don't come easy", and I'd be willing to argue that the majority of people agree with that statement on s...

TBC: Should You Announce Your Fundraise? Pros vs Cons. (TBC68)

21 Mar 2024

Contributed by Lukas

Hello & welcome back to The Backchannel! Today, we're diving into a topic that's often overshadowed in the frenzy of fundraising: whether or not to ...

TBC: The 7 Forms of Support You Need to Fundraise (TBC67)

14 Mar 2024

Contributed by Lukas

The truth is - most first-time fundraisers underestimate all that goes into fundraising and the support you need to make it through.

Betting on Yourself: The Journey to Closing a $7.6M Seed Round (Stacy Edgar / Venteur - Ep 36)

12 Mar 2024

Contributed by Lukas

There is one thing that almost every single entrepreneur has in common - the drive to change the world in some way, shape, or form.

TBC: Lead vs. Co-Lead Investors (TBC66)

07 Mar 2024

Contributed by Lukas

In this episode of the back channel, the host delves into the intricacies of lead investors versus co-leads, breaking down the key distinctions and re...

TBC: Pattern Recognition (TBC65)

29 Feb 2024

Contributed by Lukas

Join us in this episode for an insightful discussion on pattern recognition in venture capital and its impact on underrepresented founders.