Phil Reynolds
- CEO and Co-Founder at DevStride
GetLatka interview
How DevStride Raised a $3.3M Pre-Seed at an $8M Valuation with 2 Customers (Interview with CEO Phil Reynolds)
Phil Reynolds (CEO and Co-Founder of DevStride) spoke to Nathan Latka on September 29, 2022.
DevStride figures from the interview
- Pre-Seed Round Raised (2022)
- $3.3M
- Pre-Money Valuation (2022)
- $8M
- Equity Sold (2022)
- 25%
- Full-Time Team (2022)
- 7
- Paying Customers (2022)
- 2
“So we raised 3,300,000 on a pre seed round.”
“So we raised that at an $8,000,000 pre. And so we we negotiated the pre to be stable, and then the amount we raised would be the amount that we diluted beyond that.”
“a lesson I learned a long time ago in building enterprise software is your software is worth what you say it's worth a lot of times early on. And so if you tell people it's worth nothing and you offer a freemium tier, then it's kind of worth nothing.”
Bio
Currently CEO and Co-founder at DevStride, Chairman of BriteCore, Insurance fellow at Verituity, Advisor in Acrew Capital's Crew of Leaders, LP in First Close Partners. Previously led BriteCore to Series B led by Warburg Pincus at $180m post and closed $3.3m pre-seed round at DevStride on September 3rd.