Zenn: from idea to $5m valuation in 12 months.

As a professional designer, Steve knew exactly what his customers required, but he had no idea how to start, how to build the solution, or how to fund it. With our support, Steve raised nearly $500,000 in funding and left his design job to run Zenn full time.

What was the challenge?

When we met Steve, he had been working on Zenn for well over a year. He had created a demo but had realised he didn’t know what to do next. He wasn’t sure how to raise capital or what he would do with the money if he was successful. He felt stuck, but he had invested his own savings and still believed strongly in the idea.

Steve believed that what was required was some funding. With cash in the bank, he could afford to create version one of his software application, onboard his first customers, and leave behind his freelancing work to focus on Zenn full time.

What did we do?

Steve already had a relationship with a software development company in Ukraine, which he intended to keep using until the business could justify bringing in a full-time tech team of its own, so we focused on funding.

We helped Steve nail down the value proposition of the Zenn platform, especially in relation to the other design-based platforms that were making headlines, like Canva.

We created a narrative, pitch deck and data room, set up some practice pitch sessions and accompanied Steve on his first real-life investor pitches. When two investors expressed interest, we supported Steve throughout the negotiations, all the way through to round closure, providing input and guidance on all issues, from investment documentation to share issuance and admin.

Once his round was closed, we dropped back into an advisory role, supporting Steve through regular meetings and calls, and by introducing a number of freelancers and potential employees who could help Steve through the next phase of his journey.

What were the results?

Within 12 months, Steve was able to close a $500K investment from a single investor, valuing Zenn at $5m. This gave Steve the confidence to transition to Zenn full time, providing more than two years of runway to launch the Zenn platform and onboard his first paying users.

Want to be our next success story? Apply to DQventures →