Latest posts by Alexander Jarvis (see all)
- ESOP Plan Excel Template and Step by Step Guide to Retain and Attract Top Staff - October 20, 2017
- Sources and use, and runway calculator. How much does your startup need to raise? - October 14, 2017
- Quarterly vesting calculation for staff incentive ESOP plans - October 12, 2017
Here’s the Bliss pitch deck the team used to raise its $400k seed round in 2015. Bliss.ai raised $400,000 in two weeks, from 61 investors, through AngelList. They were live for one and a half years before shutting down.
Bliss is a code review management product. They allow you to set thresholds around the code quality (e.g. complexity) of code being submitted to pull requests, which allows engineering teams to release code faster.
The deck is generally pretty decent. The team have fundraised before which helps a lot. They put together their first draft in just 4 hours. It’s not that dissimilar to this one.
- Structurally, they cover all the key points, even one which is often not done; the ‘why now’ question
- There is little use of text and good use of images in the Bliss pitch deck
- The first slide says what they do which is best practice to me. There is also a phone and email number evident. The CEO mentioned he likes to talk to people in a blog
- The financing slide does a good job combining the deal terms (including traction) as well as their milestones they want to hit. They mention $1m ARR which was the magical milestone for SaaS business at that epoch
- The team slide is fairly good. But with half the page dedicated to investors is begs the question is there no one else on the team worth being there beyond the founders? But the text they founders use is compelling and shows they deliver results
- The bliss pitch deck using headers such as ‘problem’ and ‘solution’ is a waste of space. This is better used making a statement to explain the content of the slide
- The summary slide could be tightened up. It doesn’t really convey a ‘wow, factor’ or ‘there is a big need for this’ feeling. The latter is arguably a real reason that they shut down
- The problem slide also doesn’t feel like a big problem to me. They allude to an issue but not the consequence. Limited visibility could mean… “no accountability to management.” I don’t know if that is an issue, but management likely pay for the tool, I imagine
- The solution slide indicates the company looks like a FNAC (feature not a company)
- The proprietary technology doesn’t sound defensible
- Timeline – one gripe is they have an orange line and the date ‘February’ is denoted in the same orange
- There isn’t really a go to market strategy, they just say they are focused on startups to get initial traction/ I like the quote from a CEO: “Having visibility into my code has helped me be a better CEO and have impactful conversations with my development team.” This is the key market they could be selling to in my opinion
- I don’t understand why the ‘current focus’ slide needs to be there
- ‘Ecosystem’ as a heading is a bit peculiar. This should really be ‘competitive landscape’
- It’s missing a market sizing slide. This is helpful to understand the size of the opportunity
- I think the slide progression and structuring could be done to impart a more compelling narratives
A blog on their experience raising money in “How I raised $400,000 in two weeks, from 61 investors, through AngelList: Lessons learned through the ups and downs of raising money through AngelList.
A view of their business model by my acquaintance Mukund Mohan:
“I had heard the term before and knew what it meant in theory, and tried to understand it in practice as well, but it always fell in the “nice to know” not a must know bucket.”
Bliss.ai Pitch Deck
Need help with your deck?
Head over to strategy.50folds.com and we can help you get the cash in the bank you need to execute.
If you love pitch decks, check out the ultimate pitch deck collection here!