Since our last update, our focus has primarily been on refining onboarding process and hiring intiatives. Please see below for the March 2020 updates:
See attached file with a more detailed look on this month's metrics.
We've had an exciting month so thank you for all the support and intros - happy to answer any additional questions!
All my best,
Preparing for an intro call with Lee Edwards in order to introduce the business, learn about Root VC, and gauge if there is a mutual fit. During this call, we want to understand their investment process, give them all the details to champion Motif, understand their concerns, and know the next steps.
Lee Edwards is a Partner at Root VC. Previously, he served as the CTO of Teespring and has several prior years of software development experience.
Root VC is an SF-based seed fund focused on hard tech, which breaks down into hardware, dev tools, and data science. They are on their second fund ($77M) which they closed in 2018, with $108M AUM.
Here are some questions we should try and ask as we think about Root VC as a potential fit for us:
Fund specific questions
Investment process questions
Lee's thesis around software matches up with how Motif thinks about software development. Here is a line from one of his blog posts that sums it up: "Low code is infinitely more interesting than no code." He also believes that developer tools, though set up for enterprise usage, is ultimately consumer software. At Motif, we think about arming folks with the ability to create applications. If Lee is the lead Partner, I do think we align with his understanding of the space and would be a great partner for this journey.
Generally, the broader fund's investments do seem to be focused in the hardware and manufacturing industries, which are industries with starkly different challenges than ours. A lot of Partners also have strengths in these areas except for Lee, who is more software focused.