DigitalBridge Series A fund raise
I’m thrilled to announce that we’ve recently secured our Series A funding round of £3m from Maven Capital partners. This was announced on Techcrunch amongst a myriad of other places.
We’ll use this money to deliver on our vision of a Guided Design platform that enables retailers to help their customers design and buy their dream bathroom or kitchen.
It’s been a long and involved process to say the least but one which is super exciting (now that we’re at the end of at least!) and will fuel our growth even farther!
I spent 18 months on our series A — spending time meeting, talking, having coffees, attending networking events etc with a whole range of different investors to understand what they were looking for and if they were a good fit for us (and vice-versa).
In short, I lived what the truly wonderful Mark Suster talks about in his seminal post Lines not Dots. I wanted to give my investors a view of what I was planning to do way in advance of my raise and have them see me deliver against that plan before I came knocking; I wanted them to see the line that is DigitalBridge and not just the data point of a single interaction.
That was the plan at least — and it remains the single most important article I tell any business to go and read (after which I tell them to basically read everything Mark Suster has written!).
But like all good plans it didn’t pan out that way.
My good friend Tim Dempsey who does all our fund-raising introduced me to Jeremy Thompson at Maven Capital on a monday. By the following friday we had negotiated and signed off an exclusive term sheet.
Signing a term sheet is hard as it means you have to commit to one single party whilst turning your back on others to enter a due diligence process where the result may not even be an investment.
But I liked Jeremy. I liked his excitement, his enthusiasm and his commitment to go out to bat with his investment committee to get the term sheet done quick and the investment done super quick.
Having now worked closely with him through that 6 week process I am even more convinced Maven are the right partner for us and looking forward to taking DigitalBridge to the next level in close partnership.
Welcome to the madhouse Jeremy — be sure to buckle in for the ride!
