Justin Shum
- CEO at Knowd
GetLatka interview
How Knowd Raised $500K on a $10M Cap to Build a Promptless AI Knowledge Platform (Interview with CEO Justin Shum)
Justin Shum (CEO of Knowd) spoke to Nathan Latka on June 21, 2023.
Knowd figures from the interview
- Pre-Seed Raised (June 2023)
- $500,000
- Convertible Note Cap (June 2023)
- $10,000,000
- Equity Sold (at conversion) (June 2023)
- 5%
- Investor
- Drive Capital
“We just closed it actually last month. So it's pre seed 500,000 USD from Drive Capital, amazing partners. We're contemplating taking on a little bit more for our pre seed with I don't want to name them yet because it's not done, but their resources in AI and we're building an AI space would be invaluable to us.”
“We actually decided to hit the market, the open market and we secured 500 at 5% instead of the 10%. So much more favorable.”
“Our initial ICP will be actually MBA students. Why MBA students? Well, they're not tight on privacy, and, you know, we need your data.”
Bio
3x founder | 1 bootstrapped, 1 successful exit, 1 venture-backed