• This 1st-time founder raised $4M, kept the team to 5 people—& just raised a $28M Series A. | Parker Gilbert, Co-Founder of Numeric

  • Oct 31 2024
  • Length: 38 mins
  • Podcast

This 1st-time founder raised $4M, kept the team to 5 people—& just raised a $28M Series A. | Parker Gilbert, Co-Founder of Numeric

  • Summary

  • Parker quit his job as VP Finance at a late-stage startup in mid 2021. He raised $4M out of the gate because, well, it was 2021. But he didn't ramp up sales, he didn't hire 15 developers. He kept the team to 5 people for the first year.

    He worked with a dozen design partners until the value prop was perfect. He even refused to let customers pay upfront in annual contracts. He wanted monthly payments to light a fire for him and his team.

    This month, just 3 years after quitting his job, he closed a $28M Series A.

    Here's exactly how he did it.

    Why you should listen:

    • Why the early stages are all about customer value and delight.
    • Why you need to focus on product-market fit before growth.
    • Why you need to solve a top-of-mind problem and deliver clear ROI to take off.
    • How to transition from build mode to sales mode.
    • Why monthly contracts can provide valuable feedback loops for early-stage startups.

    Keywords
    Numeric, startup, product-market fit, funding, accounting, customer engagement, sales strategy, ROI, growth, Series A

    Timestamps
    (00:00:00) Intro
    (00:01:07) Coming Up with the Idea
    (00:06:13) Research, Taking the Leap & Pre-Seed Funding
    (00:11:48) Keeping the Team Small
    (00:16:55) Why Annual Payments Don't Work Early On
    (00:22:10) The Challenges in Going into Market
    (00:26:53) Measuring ROI
    (00:33:26) Series A
    (00:35:05) Finding Product Market Fit
    (00:36:11) One Piece of Advice

    Send me a message to let me know what you think!

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