In this month's newsletter, I want to shed light on a concerning trend I've observed: a growing number of women founders have confided in me about their feelings of inadequacy following difficult investor meetings. They often internalize these encounters as personal failures, believing they need to refine their pitches or storytelling techniques.
THE PROBLEM
If you haven't experienced this firsthand, please take a moment to imagine yourself in this situation.
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You spend 90% of your time pitching investors to raise capital for your early-stage company.
- You've dedicated countless hours to your pitch, seeking advice from advisors and utilizing platforms like Scroobious to ensure your message is compelling and your business is de-risked for investment.
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Investor meetings leave you drained, peppered with questions that force you to defend your plans despite your incredible expertise. Your market size is constantly scrutinized.
- After a particularly grueling meeting, you begin to doubt yourself. "Maybe I didn't communicate my vision effectively. I need to refine my pitch. Perhaps I'm not working hard enough."
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WHY IT MATTERS
Here's the truth, my friends: it's not you, it's the system. Data doesn't lie, and the numbers paint a stark picture. 98% of venture capital funds are invested in men and 99.5% go to non-Black founders. Even with the strongest pitch, those statistics remain the reality. It's often not a reflection of your abilities or the quality of your pitch; it's a systemic issue.
Talented individuals are doubting their worth based on bias and misconceptions.
KNOWLEDGE BRINGS CLARITY
I share these statistics not to discourage you but to arm you with knowledge. We raised nearly $10M at my last company, and when we faced challenges raising our Series B, I internalized that failure. I wasn't aware of this data at the time, nor did I understand the system.
EMPOWERING ACTION
This experience drove me to start Scroobious – to create a scalable platform centered on access to information and expert guidance coupled with a data-driven engine to connect the right founders, investors, and service providers at the right time. On our path to growth, we have intentionally cultivated a supportive and inclusive ecosystem where we expose the drivers of bias and how it manifests for founders.
LOOKING FORWARD
So, when you face those tough investor meetings, remember this: it's not always about working harder or changing your pitch. Often, it's about finding the right audience who sees your potential and believes in your vision. Trust me; they're out there. We're here to help with it all. |
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Explore great upcoming events and opportunities below, and don't overlook our featured founder at the end! Thank you for reading. Thank you for supporting us. I appreciate you. |
Allison Byers, Founder & CEO |
Click on an item to learn more and access content.
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Virtual Event: We're hosting a virtual panel discussion Thursday, 3/28, from 2-3 pm ET about breaking through the noise and catching an angel investor's attention. Stephanie M. Fowler, Richard Millunchick, and I will share relevant, tactical tips on using cold outreach for fundraising.
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Screening: Winner of 7 Awards including "Best Feature Documentary" this movie should not be missed. Show Her The Money reminds us that money is power and women need it to achieve true equality. Join us for a screening and panel discussion with the producers 4/2, 7 pm ET, at Simmons University.
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Event: The All Raise Boston Chapter is excited to host our 3rd Annual "Agents of Change" event on 4/4 at MassChallenge! Join us for this half-day event, where female and non-binary founders, investors, and allies can network, learn from some of Boston's biggest mentors and influencers, and dive into how we can be agents of change toward gender equity.
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Virtual Workshop: Join us on 4/30 from 2-3 pm ET where Rachel Cossar, co-founder of Virtual Sapiens, will discuss the underlying science behind impression formation, with a special focus on the messages pitching founders are sending with their body language and nonverbals. |
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Pitch Studio - Investor Sign Up: Join us next month for our popular Pitch Studio virtual event, which features five-minute founder pitches from five Scroobious members followed by 10 min of feedback from investors. It is NOT a live pitch for investment. All presenting founders have early-stage startups, and while some may be raising, the purpose of the Pitch Studio is to receive authentic, helpful feedback in a safe space.
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Podcast: Catherine Gray, the host of Invest In Her, interviews Allison Byers, the Founder & CEO of Scroobious, a scalable, algorithmic platform connecting founders and investors through education and personalized curation, with a mission to enhance diversity in the startup ecosystem.
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Post: Didn't feel like reading the whole intro? Watch me share a similar message. Let the data motivate you to spend more time finding the right people to pitch rather than changing your pitch to try and compel people who were never going to write you a check.
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Click on an item to learn more and access content.
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Black Ambition Prize: Black Ambition is a set of prizes to fund bold ideas and companies led by Black and Hispanic entrepreneurs. Eligible ventures will compete for awards between $15k to $1M. Up to 250 semi-finalists will be selected, with one grand prize winner receiving $1M. Applications are due 5/3.
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Education Challenge: In partnership with MIT Solve, the Bill & Melinda Gates Foundation is accepting applications for its AI-Enabled Assessments in Education Challenge. A minimum pool of $250,000 in funding is available for up to eight winners. Applications are due 5/6. |
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Peerless Pitch: Powered by Alley Corp & Management Leadership For Tomorrow, Peerless is a $1M pitch competition supporting visionary Latine, Black, Native American, & Female founders of early-stage companies. Applications are due 4/26. |
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Women's Product Entrepreneur & Inventor Summit: April 27-28th in San Diego, CA. This 2-day event will include keynote speakers who have successfully taken products to market, “roll-up-your-sleeves” workshops with take-aways specific for your business or idea, and an inspiring investor pitch day in front of a highly respected panel of judges and an engaged live audience.
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Each newsletter features the perspective of one of our members. I encourage you to reach out to offer networking, investment interest, or expertise. |
This month, we highlight Neil Handwerker, Co-Founder and CEO of ex judicata, an employment platform built specifically to help attorneys find nonlegal positions.
Their platform provides resources to set candidates up for success and connects them with companies that want to hire specific skill sets. In addition to providing guidance in redrafting CVs, LinkedIn profiles, and personal branding, ex judicata also includes a proprietary diagnostic test to help JDs home in on those job functions or industries that could be the best fit for their a candidate's unique background. |
"I was an associate in a Wall Street law firm and left to find a job that would truly value my law background. However, I found myself facing a lack of job ads, information, search firms, and guidance. Fast forward to 2022, and I learned not much had changed except for the fact that the number of lawyers interested in transitioning to nonlegal careers had significantly increased. To address this challenge, I teamed up with my partner and co-founder, Kimberly Fine. Together, we have created ex judicata, the end-to-end solution, and pathway for any lawyer looking to pursue an alternative career." |
Do you want to be more Scroobious? Let's chat! |
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