Founder Who Raised $1B Shares What Investors Really Look for in Pitches

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Sasha Orloff, founder and CEO of Puzzle, appeared on the Build Mode podcast to discuss what venture capitalists genuinely expect from founders seeking funding. Orloff, who has raised over $1 billion, emphasized that investors prioritize founders with a clear grasp of their business's financial reality. Common pitfalls such as disorganized data, misread metrics, and last-minute fundraising can seriously weaken a founder's negotiating position. Starting the fundraising process too late — when cash is nearly depleted — risks losing valuation and even potential term sheets. The conversation, hosted by Isabelle Johannessen, aimed to help early-stage founders approach investors with greater preparedness and credibility.

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