Datavations Success Story

Datavations provides vertical software to housing materials manufacturers to help them optimize supplier contracts. The founder, Philip Odelfelt, had worked with the Flowlie team to close his Seed round in 2023. By spring 2024, he was getting ready to raise his Series A and knew it would be a step up in terms of time commitment.

As a technical founder who was still the de facto PM and heavily involved in sales, Philip was stretched very thin. The company was heading into peak season and needed to nail their targets while simultaneously pursuing a Series A in a down market. He decided to work with Flowlie to set the right foundation for the raise, take work off his plate, and close the Series A with the best investors possible.

Datavations was preparing to raise their Series A round during challenging market conditions in 2024. With VC funding significantly reduced, the team needed a strategic and efficient fundraising approach.

As a vertical software provider for housing materials manufacturers, Datavations had strong metrics but needed to find the right investors who understood their vision in an overlooked vertical.

Philip Odelfelt, the CEO and founder, was stretched very thin - still heavily involved in sales and serving as the de facto PM.

The company was heading into peak season, and Philip knew they had to nail their targets while simultaneously running an effective fundraising process to secure their Series A.

Datavations partnered with Flowlie to structure their fundraising approach in three phases: Strategy, Investor Research and Outreach Operations.

Flowlie conducted comprehensive market analysis, valuation comparisons, and pro forma cap table modeling to develop the optimal round strategy, including target size and valuation.

Using Flowlie's platform, Datavations built a database of 395 active Series A partners and principals strategically aligned with their sector, business model, and stage focus.

Flowlie analyzed stakeholder networks to uncover over 3,200 warm introduction paths to target investors, significantly improving response rates compared to cold outreach.

Flowlie coordinated the activation of warm introductions, leading to 70+ first calls with highly targeted investors. Before each meeting, comprehensive investor briefs were prepared with partner and firm thesis information, portfolio companies, and strategic fit.

The platform maintained detailed call summaries with investor sentiment analysis, provided pitch feedback, and created an ongoing FAQ log to improve future presentations.

The Flowlie team also scheduled automatic follow-up reminders based on each investor's typical response patterns, ensuring no opportunity fell through the cracks.

Using Flowlie's platform, Datavations secured 70+ initial investor meetings, with an impressive 80% conversion rate to follow-up meetings. The precise targeting and warm introduction approach yielded a 50% higher meeting rate than their seed round.

The entire fundraising process from outreach to close took just 10 weeks, considerably faster than the industry average of 4+ months for Series A rounds in 2024.

Datavations received three term sheets, ultimately accepting a $12M Series A led by a top-tier venture fund at a valuation 3x higher than their seed round—a remarkable achievement given the market conditions.

The company was able to secure favorable terms, including a board structure that maintained founder control while adding strategic guidance from their new lead investor.

By using Flowlie, Datavations estimated they saved over 250 hours of executive time that would have been spent on investor research, outreach, and follow-up coordination.

This allowed the team to maintain their focus on product development and customer acquisition, achieving consistent MoM growth during the fundraising period without disruption.

By leveraging Flowlie's AI-powered fundraising platform, Datavations closed a successful $12M Series A round in a challenging market environment while maintaining their operating momentum.

The company attributes their fundraising efficiency to Flowlie's precise investor targeting, network intelligence for warm introductions, and comprehensive meeting preparation tools that allowed them to build strong investor relationships efficiently.