$11MSeries A Raised
4.6xValuation Step-Up
11 wksEngagement to Close
// The Challenge

Where the Founder Started

This enterprise SaaS company had failed two fundraise attempts over 14 months before engaging GMAV Capital. The company had grown to $1.2M ARR with 110% NRR -- genuinely strong metrics -- but the narrative and materials had not kept up with the business. Investors were seeing a good product but not a great investment story.

// Our Approach

The GMAV Capital Playbook

W1-2
Metrics Narrative ReconstructionRebuilt the financial story around NRR and gross margin expansion. Restructured the unit economics section to show cohort analysis by customer segment, revealing a much stronger retention story for enterprise clients versus SMB.
W2-3
Investor List RebuildThe two prior attempts had burned through most India SaaS investors. We shifted focus to Southeast Asia and Gulf-based funds with SaaS mandates -- fresh eyes on a now-mature story.
W3-7
Phased Outreach -- SEA FirstLaunched Southeast Asia and Gulf outreach first, generating term-sheet-level interest from a Singapore fund in week 6. This signal was used to re-engage 3 India funds who had previously passed.
W7-11
Competitive Close ManagementManaged four simultaneous diligence tracks. Singapore fund moved to term sheet in week 8; two India funds followed in weeks 9-10.
// Results

What Was Achieved

The $11M Series A closed with a Singapore fund as co-lead and a Mumbai-based institutional VC as lead -- at a $58M pre-money valuation, a 4.6x step-up from the company last unofficial valuation.

  • $11M raised at $58M pre-money (4.6x step-up)
  • First institutional round after 14 months of failed attempts
  • Singapore fund added as strategic co-lead for SEA expansion
  • Round oversubscribed by $2.5M

After two failed rounds, we were starting to question the business. GMAV showed us the metrics were there -- the story was not. Rebuilding the narrative around NRR instead of revenue changed everything. -- Co-founder, Enterprise SaaS

// Want a Similar Result?

Every fundraise is different -- but the process disciplines that drive fast closes are consistent. Book a free strategy call to discuss how we would approach your specific situation.