In 2024, fundraising is a hot and complex topic. Shaun has raised $8,000,000 in capital so far, and he recalls that SEO was a big reason why they secured their initial round of funding. The mindset of the investors was to research existing companies that solve this problem and figure out if it makes more sense to build this type of service from scratch, or to invest in a company that’s already a few steps ahead. They evaluated GoShare and a few competitors and chose to go with Shaun's company. This took about 6 months of relationship building to close the first lead investor, which led to a $1.2 million round.
This episode continues the conversation with Shaun Savage, San Diego based Founder and CEO of GoShare - a cloud based logistics platform that connects truck owners with businesses and individuals to provide on-demand delivery & moving services.
Shaun and Eric discuss the importance of customer interviews. Even though this activity might look inefficient on paper as it does not scale, there’s still no substitute to sitting down and having a real conversation about the quality of the service you provide. In the case of GoShare, both the drivers and the end users are customers, so Shaun makes sure to listen to both sides of the coin.
In 2024, fundraising is a hot and complex topic. Shaun has raised $8,000,000 in capital so far, and he recalls that SEO was a big reason why they secured their initial round of funding. The mindset of the investors was to research existing companies that solve this problem and figure out if it makes more sense to build this type of service from scratch, or to invest in a company that’s already a few steps ahead. They evaluated GoShare and a few competitors and chose to go with Shauns company. This took about 6 months of relationship building to close the first lead investor, which led to a $1.2 million round.
As GoShare evolves, so have the scaling challenges. Balancing supply and demand in the marketplace with an Uber-esque business model is always a big topic. Many of the sectors that GoShare serves are seasonal businesses, which means filling orders is a challenge year-round, especially due to the saturation of their market. The way they’re solving this challenge is by always analyzing their market and having the data to stay one step ahead while also accounting for the worst.
Tune into the full episode to learn how to secure venture capital!
HIGHLIGHTS:
00:44 The Importance of Customer Interviews
03:05 Fundraising in 2024
08:32 The Angel Investor Strategy
10:59 GoShare’s Scaling Pains
13:34 Leadership Challenges
17:14 Managing Remote Company Culture
Connect with Shaun - https://www.linkedin.com/in/shaunsavage/
Don't forget to subscribe to the Chaos to Clarity Podcast for more invaluable episodes to help you grow your business and stay ahead of the curve!To reach out to Eric, visit ChaosToClarity.io