Have been fielding some interest from Mid-market PE firms on the East Coast have had some mixed feedback from a few friends. For context bootstrapped my business in the marketing sector and now doing a little under $10m of EBITDA.
We finished building our app on Aug 10 and the agentic analysis part works 100%. It sandboxes the compute and accurately gives a BI analysis. The issue is that some of the chart visuals dont work. We were expecting it to get done by tomorrow and it may be, but I got VC meetings in the afternoon with some major players and I'm not sure what to demo.
I'm worried about demoing a broken product. I would rather send them recorded demos after the meeting they can validate on their time and use the meeting to go over details beyond the build. Like branding, community, distribution, and marketing which we excel at.
We are at seed stage and only seeking $300k @ $3M SAFE. At this stage nobody should realistically expect the product to be 100% complete. Its very complex with Rag, Semantic layer, prompt orchestration, and agentic analytics all sitting on LLMs. This was built by 7 cracked Mtech engineers from IIT. It would be a challenge to replicate this and should be a good deterrent for competitors.
How do I sell our current status and technical moat without focusing on the few issues we have?
update: It went well. It was actually the second meeting with still no ARR but they like to keep in touch with "pioneering founders". The minimum check they write is $5m so its understandable. On to the next one.