RocketOption exists to help founders spend less of their time raising capital.
My name is Matt Wilbanks and I'm the founder of RocketOption. I'm a tech startup entrepreneur who has spent a ridiculous number of hours in activities related to fundraising.
After winding down the first company I started, I went back through all my notebooks looking for ideas. I was shocked at how many pages of notes were related to securing capital for the company.
I got curious so I went back through my calendar and started adding up the time devoted to people, activities, and events for fundraising. Ultimately, between the notebooks and my calendar, I estimated that, of the 6 years in that company, cumulatively, I spent 2 of those years devoted to fundraising. That was alarming.
I started talking to others and researching the topic. Apparently I fit right in. The average startup founder will spend about a third of all their time in a startup doing things related to raising capital – not working on their business. To me, this is tragic.
Everyone has heard the statistic that 90% of startups fail. With so much time spent in fundraising, founders are essentially only thinking part-time about their products and go-to-market efforts. Should it be any surprise, then, that 90% fail?
What if founders were able to cut the fundraising time in half and spend that much more time thinking about their businesses? Would more than 10% be able to find success? Sure seems like a reasonable outcome. That idea is exactly what led to the start of RocketOption.
Founders, investors, and lenders alike complain about the time-consuming process of putting new capital to work in startups. At RocketOption we aim to cut the time down and help founders see success, faster.