Seed
OnLoop uses Metal to identify “Follow-on” Investors
We rely on Metal as our operating system for fundraising, during and in-between rounds. The granularity of Metal’s filters and investor intelligence features enable high-precision targeting. The platform allows us to identify very specific types of investors. The ability to connect Gmail and LinkedIn to immediately see intro pathways and connected portfolio founders is a game-changer.
Projjal Ghatak
Founder/CEO
OnLoop, an AI-enabled team performance software, has previously raised $5m+ from a diverse group of venture investors. The Company’s value proposition is simple – OnLoop enables organizations to turn every manager into a great manager.
The Challenge
What founders struggle with before Metal
OnLoop is among a small set of GenAI companies that have a happy and growing base of customers. The Company’s paid user count has increased substantially in the former half of FY 2024. As a result, OnLoop has received significant inbound from investors, often via customers that they serve. At times, OnLoop aims to engage only with potential lead investors for the next round.
At other times, they aren’t able to fit investors with large check sizes into rounds that are almost fully subscribed and therefore, need to identify follow-on investors that invest small checks and can be strategically helpful.
Rather than reaching out to a broad pool of investors, the team needed a reliable way to prioritize firms most likely to participate in future funding rounds.
As OnLoop continued to grow, identifying the right follow-on investors became increasingly important.
Rather than reaching out to a broad pool of investors, the team needed a reliable way to prioritize firms most likely to participate in future funding rounds.
Search Granularity via Metal
How Metal surfaces the right investors
With Metal, Projjal (Founder, OnLoop) is able to identify various types of business investors that may be relevant at different stages of the Company’s journey.
Follow On Investors
Lead Candidates
With Metal, Projjal is able to identify very specific types of investors that may fit into a specific fundraising strategy. Before Metal, he was unable to identify a reasonably priced platform that allowed the granularity that was needed.
Impact on the Fundraising Process
How targeting the right investors changes outcomes
In leading a high-growth venture-backed business, Projjal has a tight schedule that requires effective prioritization. With Metal, he is able to spend less time identifying, qualifying and researching investors, and allocate more bandwidth to building the business.
With Metal, he is able to spend less time identifying, qualifying, and researching investors, and allocate more bandwidth to building the business.
Additionally, Metal allows Projjal to take a more intentional approach whereby his efforts are focused solely on prospective partners that are relevant to his strategy. As his needs evolve, he is able to move into new directions (using Metal to avoid the time-intensive and imperfect research that typically goes into fundraising).
Executive Summary
Key takeaways from Onloop's use of Metal
OnLoop used Metal's investor intelligence to move beyond broad investor discovery and build a more focused fundraising strategy. By identifying investors based on check size, recent activity, and historical investment behavior, the team was able to prioritize higher-fit conversations while reducing the time spent on manual research.
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High-precision targeting is a highly effective lever to drive success in fundraising
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With a targeted approach, founders can reduce the time required to raise
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Conversion rates tend to be highest when engaging with strong-fit investors
