I'm not going to go in detail about the importance of keeping your angel or institutional investors updated as this has been written about it before. Just as a refresher, there are many benefits: whether it's keeping your startup top of mind, getting your investors to share your press success, or requesting an introduction to a potential partner or new hire. Also - one understated benefit of sending out these updates is that they can keep you, the Founder/CEO/COO, in check. This process will hold you accountable to your decisions, successes and failures.
To ease the burden, I've included some investor update templates you or your startup can use. You'll find that these emails mostly cover the same four to five points: thank yous to those who helped; issues or problems faced; big or small wins; product, metrics, team or finance update; and request for help.
--------TEMPLATE 1--------
Hello,
Firstly, thanks to those who responded with feedback: XXX, YYY, ZZZ, AAA
Secondly, I'd like to thank the following people for their help recently:
- XXX for going above and beyond with YY
- XX for making herself available for questions
- XXX for helping with introductions to various potential candidates
- XX for helping with both the technical recruiting
- XXX for being a sounding board
PROGRESS
Team
We were recently joined by a talented engineer .....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Starting next week, our team will be joined .....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Product
Today we received our latest major revision....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
After learning more about their process ....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
The design of our ...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Problems
Our XXXX needs go to a much...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
We've also have not yet been able to find an XX engineer...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Testing
We are in the final stages .....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Financials
Our burn rate is currently $XXX per month and runway is YYY at this rate. We plan on continuing to scale the team and spending on XXX, which would take us just into early XXX.
How you can help
- Introductions to experts in the following fields: XXX, YYY, ZZZ
- Hiring XXX and XXXX engineers -- we're hiring and appreciate referrals.
- Hiring XXXXXX -- we're looking for people who come with a strong XX skill set
Thank you.
--------TEMPLATE 2--------
Hi all,
Let me start things of by saying that the past quarter was AWESOME ....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
However, there's a long way to go .....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Highlights:
XYZ is now live
Shipped XYZ
ABC featured us which brought XYZ users
DEF unexpectedly promoted us to their users
We got a new team member, helping with XYZ
Lowlights:
Unfortunately, XYZ ....
ABC development is hard ...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Product:
Our focus is on improving ABC ....
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Current metrics
ARR = XXX, MRR = YYY, MAU = ABC
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
iOS
We've fixed many bugs ...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
We've launched ...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Android
We're building ...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Community
We've created ...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Press
Highlights this past quarter include:
http://XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
http://XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
http://XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Our next press milestone is XXXXX, July 23rd.
Team
XX FTE currently.
XYZ has joined our team
Recruiting a ABC, please share https://
Financing
$XYZ in the bank
$ABC monthly burn.
ABC months runway at current burn.
Special thanks
- ABC and DEF atYYY for helping with the ABC .
- YYY for making YYY possible
- CCC for always being there to help.
Help needed
Please help us ...
Thank you.
--------TEMPLATE 3--------
Dear all,
[Opening...]
First things first
Now at XYZ MAU and have ZZZk downloads daily
AAA will be in New York next week to BBB
Still looking to hire XYZ
Progress
We shipped ....XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
This is BIG ...XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
The app has been ...XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
We have the ...XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
We have expanded ... XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Company priorities
Raise seed
Growth: XYZ XXX
The metrics
MAU in October: ZZZ mil
Last month's downloads: ZZZ mil (YYYk in July) driven by AA, BB, CC
ZZZ% retention rate (vs AAA% in Dec)
The team
XXX has joined from ...XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
BBB has relocated from YYY to join us ....XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
Recent failures
We fucked up ...
XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX XXXXXX
The media of the last 4 weeks
Lots of attention ... :
Link 1
Link 2
Link 3
Link 4
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