10 tips for effectively announcing a funding round
Time to read: 3 minutes
Yes, you can be in TechCrunch! Read our top tips for ensuring your funding announcement gets the attention it deserves…
For any start-up, attracting investment is a significant milestone. It’s not just about knowing that you’re on to something special; it’s also about signalling to the rest of your industry that your business is a serious player with a prosperous future.
At this stage of early growth and investment, being able to PR the news is key. You want to get the best out of any opportunity to share the exciting news and spread the word far and wide. It’s an opportunity to demonstrate who you are, what your business does, and why it’s different from everyone else.
Announcing your new funding increases your visibility and can support recruitment drives, attract top talent, invite new investors and drive new business. But with the start-up scene moving at pace, how do you cut through the noise and ensure your voice gets listened to?
Here are our top tips for securing coverage in top-tier publications:
1) Numbers talk – journalists want the news and facts
Getting coverage for a funding announcement that doesn’t include the amount raised is nearly impossible. If you can, use the numbers in the press release to illustrate the growth behind your start-up and how you plan to use the funds. After all, this is the ‘news’ you’re promoting.
2) Include as much information as possible
Who are the investors? Are they private, institutional, or private equity? If funding was secured in earlier rounds, be sure to mention this, too. It shows continued confidence in your business and tells the story so far.
3) Company background
Clearly articulate what your company does and how your solution addresses a problem. Who are the founders, what is their background, and how big is the company? Explain what the money will be used for – it could be new hires, further technology developments or product development.
4) Validation
There is no greater endorsement than being able to quote one of your investors. It doesn’t necessarily need to be the lead investor, but an investor voice will add enormous credibility to your press release. They should talk about the reasons behind their investments. It might be the management team’s capabilities or a desire to be part of a growing market. You should also include a quote from your company founder or CEO.
5) Get all your ducks in a row
Once the press release has been written and signed off by all necessary parties, developing a game plan for announcing the news to the market is important. It is more effective to spend time getting all the materials and content in a good place than to rush to get the news out too quickly. Slow and steady really does win this race.
6) Where do you want to be?
Vertical trade press will likely be most interested, but you might find that technology press, investor magazines, or start-up publications are where you need to be. Ask your PR agency to list the titles they think you should target to ensure you’re on the same page. Between you, agree on which titles should be prioritised and which ones can follow. It’s important to use the announcement as an opportunity to build existing relationships with the press and establish new ones.
7) Consider your outreach strategy
Would reaching out to one key publication with an ‘exclusive’ be more effective, or should it be sent to many different publications? Pitching the story exclusively to one key publication risks alienating others who might have otherwise covered the story, reducing the likelihood of widespread coverage. But it normally means that you will get a more thoughtful and comprehensive article in return.
A recent funding announcement from our client Urban Jungle resulted in us securing an exclusive article in TechCrunch. As a top-tier title for InsurTech, Urban Jungle was thrilled to be covered so extensively in such a key title. We also generated 24 other pieces of coverage on the same day by sending the release far and wide once TechCrunch had published their story.
8) Timing is key
Will your key spokespeople be around when the announcement is made? If not, consider holding off until they are available, as any interviews must be done that day. Does your company have any other news likely to come out around the same time? A drip feed effect is far more effective than an avalanche of news in a short timeframe. Space the news out where possible and go with the most time-sensitive ones first. Finally, keep your ear to the ground. If you catch word of a competitor announcing news around the same time, consider jumping in before them or waiting until their time has passed.
9) Shout from the rooftops
Use your social media platforms and networks to spread the news and share links to articles through Twitter, LinkedIn and Facebook. Encourage your teams to do the same. They should be proud of their company and want to share the exciting news.
10) Keep the momentum going
Securing funding is a huge accomplishment, and once it’s been announced, everyone will be keen to get on with the job at hand. But don’t forget to keep the market updated on your progress.
Announce any new senior or significant hires that have come on board. Tell people if you’ve enhanced your technology platform or are offering new products! Use the captured interest in your company as a platform to keep going. Once you have established a voice, don’t be afraid to use it.
Ultimately, you want to position your company’s senior leaders as leading authorities in the market, so you need to optimise every opportunity to do this.
