[Interview] How SOAP Health raised $2M

Hey!

I interviewed Steven Charlap, the founder of SOAP Health about his $2M seed round.

He was struggling with fundraising for 2 years until he hired senior executives and required them to invest in his company. That sparked VCs interest.

Here's my summary of the interview.

Round details

🌐 Company: soap.health
🤑 Round size: $2,000,000
📍 Stage: Seed
📅 Date: September 2022

1️⃣ “Any approach that works - works”

Steven recruited senior executives who were required to invest as part of joining the company. That led to VC and major angel interest.

2️⃣ Cold emails don't work

Steven cold-called 150+ investors over the past 2+ years. All without a result.

3️⃣ Refine your pitch until it tells a powerful story.

“Try to learn from every no, but take them with a grain of salt unless you hear the same reason repeatedly. Then develop a cogent response to that criticism and incorporate it into your pitch.”

4️⃣ Don't raise too early.

Start talking with investors only when you have something compelling (traction, great team, etc.). Otherwise, you'll be wasting your time.

Thanks for reading!

For more insights, check out the full interview: https://shizune.co/blog/how-soap-health-raised-a-2m-seed-round/