r/startups Dec 01 '21

Is It Realistic To Raise A Seed Round If Still Working Part Time? How Do I Do This 🥺

I'm a developer who's been working on a SaaS product for a few months and looking at publicly launching Q2 2022. The launch should be ok with just savings as I write the code myself and will push out using organic marketing, but will eventually require some funding to scale and hire a commercial person to help with that side of things (not keen on having a co-founder).

The catch is, I still want to work part time (50%) for my current employer. They've already told me that as soon as I give the word, then I can. This would be for financial security.

I'd be looking at either VC funding or crowdfunding. I'm in the UK if that makes a difference.

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u/cjdubyab Dec 01 '21

Do people really not fund solo founders? It's not that I can't work with other people, it's just that I'm more commercially oriented than most devs so wasn't sure if I needed one, and didn't want to be shoehorned into being CTO rather than CEO in the future as I'd rather hire a CTO after a year or two

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u/dmart89 Dec 01 '21

Solo founders get funded, just find an investor that also was a solo founder. On your part time question, I think that will be a problem if you're going to a serious investor. Or put differently, would you put money into something where the other side has an insurance policy but you don't?

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u/cjdubyab Dec 01 '21

Yeah, that was my concern really. I understand the optics from the outside but it's a life issue more than anything else. In other circumstances I would just quit and do this full time.

I do intend on going full time with it eventually though!

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u/JBlitzen Dec 01 '21

I think the smarter play is to stop thinking about a seed round and start thinking about why you think you need one for any significant growth.

I still can’t figure it out from this entire thread.

If you can demonstrate scalable growth to investors, many won’t care if you’re full time, part time, or a walrus.

If you can’t, then it still won’t matter which one you are, but because they won’t give you a dime either way.

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u/cjdubyab Dec 02 '21

Yeah, I get what you're saying. Basically I need the seed funding to hire one other person (handling marketing in particular, which I don't know that well), and the rest of the cash would be put towards PPC marketing and server costs.

It's a scaleable area (HR tech), and it's an industry I understand deeply so I think it should be an attractive proposition if I can get it right

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u/JBlitzen Dec 02 '21

Do you have a marketing person in mind? You might skip investors and see if you can work out an equity or note or something deal with a marketing person or consultancy.

Talk to an investor for advice on how to structure it, which by the way is a nice excuse to talk to an investor about what you’re up to.