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Image Credits:Feel Therapeutics
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[Slide 3] So many tools for the blood and so few for our mental well-being.Image Credits:Feel Therapeutics
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[Slide 5] How it all works in one simple slide. If you can start the conversation by giving a good overview, the rest of the conversation will be more productive.Image Credits:Feel Therapeutics
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[Slide 6] Traction!Image Credits:Feel Therapeutics
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That’s a lot of missing/incomplete information there, you guys.Image Credits:Haje Kamps / Pitch Guide
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[Slide 10] Pre-Series A? Let’s call it a bridge round, like everyone else does.Image Credits:Feel Therapeutics
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[Slide 9] Who designed this slide?Image Credits:Feel Therapeutics
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The company has raised $30 million to date, according to PitchBook.Image Credits:PitchBook screenshot
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find Therapeutics is put to work to make mental health care more science - forward . The company make wearable devices , roving apps and clinician dashboards to assemble physiological , digital and clinical data . It recently raised a $ 3.5 million round and partake its tar deck of cards with me to take a closer look . Let ’s get in there and see what the ship’s company got correct in its fundraising efforts and where more attending is needed .
We ’re look for more unique pitch deck to tear down : here ’s how you to get involved . Read all our 90 + Pitch Deck Teardownshere .
Slides in this deck
The company raise its $ 3.5 million round with a tight 11 - slide deck . The fellowship says the deck is as pitched , with the exception of some clients that were removed .
Three things to love about Feel’s pitch deck
Feel Therapeutics has a jolly original deck , with some twists I rarely see . The company did a great job telling the overall fib .
Why don’t we have measuring for mental health?
In the age of the quantified self , where your various devices get across every aspect of your health , Feel Therapeutics makes an excellent spot : Why do n’t we chase mental health ?
I think this is a masterful mode to start this conversation . “ Hey , we track everything out the wazoo . Why not this ? ” is a outstanding way to catch my attention .
A great overview
When startups are building a full platform or organisation to integrate many aspects of a company , thing can often get a little mussy . I was really impressed by how well Feel Therapeutics pulled together all the strands of the party on this one slide .
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This brings up a really helpful universal storytelling distributor point : Starting with a 60,000 - foot scene and then catch more detailed is a smart move for fundraising sales pitch , especially when the business concern is complex . In this case , Feel Therapeutics begins with a large-minded overview , give investors a general sensation of the inauguration .
By start with the big painting , it sets the stage and cater authoritative context , do it easier for investors to follow along when you plunge into the specific . Jumping direct into the nitty - gritty can overwhelm or confuse investor , so this method helps keep them engaged and understanding . The tonality is to make “ hook ” that you’re able to attend more details on later on — and it makes the storytelling more interactive . The investor can focus in on the things they do n’t translate , and they can skip past the persona that intuitively make sense .
As you move through your tar , gradually adding more specific details help investor ramp up on what they already know . This step - by - stone’s throw approach path ensures you ’re not dump too much info on them all at once . It also keeps their interest , as each new piece of music of selective information adds depth and color to your news report . This gradual increase in detail make your pitch more coherent because each part naturally follows the one before it , create a smooth flow that steer investors through the complexity of your startup .
So does it work?
This slide does a great job of showcasing arduous numbers , which are essential for demonstrating traction . spotlight the fact that the company has 2,700 patients across nine country is impressive and provides a substantial sample sizing to show the efficacy of the Cartesian product . Overall , I think these name indicate pregnant progress and can effectively enchant investors ’ attending by proving that their enquiry has a broad and diverse reach .
I have some notes on this slide , though : It ’s important to nullify medical jargon that might confuse or alienate some investor . I had to Google them , and that ’s goofy : There ’s plenty of space on the slide to just spell everything out . term like MDD ( major depressive disorder ) , GAD ( generalized anxiousness disorder ) , and “ therapeutic areas in CNS ” might not be immediately exculpated to everyone . Simplifying or explaining these term can make their coast more accessible and betroth for a wider audience .
The other distributor point to observe is that traction is even more compelling when shown over time . let in a timeline or progress graphical record could enhance the narrative , illustrating growth and momentum . to boot , while patient numbers are a self-coloured indicant of grip , tax income is the ultimate proof of business viability .
There ’s no mention of financial performance on this slide , which raises question about the business ’s fiscal wellness . include revenue figures or financial projections would provide a more accomplished delineation of their traction and business potential . Yes , I realize that medical trials often are n’t a real business - forward process , but it ’d have been practiced to fuck what the toll sensitivity is in this space .
Three things that Feel Therapeutics could have improved
With an 11 - playground slide pack of cards , unsurprisingly , there ’s quite a bit missing that investor would like to see . And , for that matter , there ’s some clobber that ’s there that could have been done considerably .
I execute the pack of cards into my AI - based dick to see what the AI bots think of the pack of cards . You cansee the full feedback here , but the most relevant composition is the sum-up :
The company overleap out on the contender , which is belike the big misfire here . There ’s also no coherent go - to - grocery plan oroperating plan . I get that the product is other in its cycle , but they should at least mention the byplay mannikin and pricing they ’re reckon of , alongside the target customer side of things . I ’d have be intimate to see some unit political economy , too : What happens when this ware is manufactured at scale ?
Interesting Ask and Use of Funds
The Feel Therapeutics squad has include the term of the investment funds on the “ Ask and Use of fund ” slide , which is a bit improper . Typically , terms are entrust out because funding terminus are on the table and often depend on back - and - forth word with likely investors . But hey , it await like they ’ve already get a lead investor and are just seek to lash out out the funding around , so in this specific scenario , it does make some sense . Bear in mind , though , that this is n’t the average , and for in effect reason : Negotiation is the name of the biz in the investing world .
As for the “ Use of Funds ” plane section : It ’s jolly slack and fuzzy , like a half - baked thought someone scribble down on a napkin . Come on , Feel remedy , you could do better than this ! Investors want particular , not faint promises . Get granular with how the money will be spend . It ’s particularly confusing here , because I cerebrate the company take its milestone ( Launch as a Drug+ and FDA approval ) with milestone from other fellowship . I realize they ’re probably taste to suggest this is n’t high risk , but there are also no times attached to the milestones .
In an idealistic scenario , the “ Use of Funds ” should be summarise as SMART goals : specific , mensurable , achievable , relevant and time - reverberate . Specificmeans clear and unambiguous . Measurablemeans you’re able to track advance and know when you ’ve hit the target . Achievablemeans it ’s naturalistic ( not some pie - in - the - sky dream).Relevantmeans it align with your broader business organisation objectives . Time - boundmeans there ’s a deadline . For example , instead of “ FDA approval , ” a bright goal would be “ FDA approving under 510 K by December 2025 . ” See the difference ? One sounds like a self-colored plan ; the other sounds like aspiring thinking .
Why are SMART goals helpful in this linguistic context ? Because they make you look like you really know what you ’re doing . investor can see you have a clear roadmap and are not just throw money at random initiatives hope something stick . It make confidence and show that you have a well - guess - out program to use the fund effectively . So , stiffen up those goal and give investor something tangible to get frantic about .
This mess of a team slide
The Feel Therapeutics team has put together what looks like an telling ( if ugly ) team slide , but let ’s dive into the details to see how it hold up . First off , help investors understand why this team is the right team to go this company . You ’ve got some handsome name and titles thrown around , but what exactly make them the thoroughgoing convulsion to repel this startup to achiever ?
The “ Industry Experts ” and “ Psychiatry Experts ” discussion section look telling at first glance , but are these somebody adviser ? Are they part of the essence team ? How tortuous are they in the twenty-four hour period - to - day operations of Feel cure ? If they ’re just high - profile name calling with open connections to the company , that ’s not as compelling as having them actively call for in strategic decisiveness and execution . clear up their roles and contribution would give investor a good sentience of how these expert are enhancing the company ’s capabilities .
The team appendage publication and citations are thrown in there , but these metrics finger likevanity stats . for certain , they look full on paper , but do they translate to literal business success ? Investors want to see how the expertness of the team will tug tangible results for the party , not just pedantic accolades . Instead of focalize on these number , it would be more impactful to highlight specific achievements and experiences that directly relate to the company ’s finish and market challenges . Show how this team ’s unique blend of skills and experience make it uniquely position to harness the trouble Feel Therapeutics is aiming to solve .
What’s the fundraising journey?
The other matter we should sing about is the company ’s fundraising journey to appointment . Yes , it ’s bring up a $ 3.5 million cycle now , but it seems like it has already raise a bunch of money :
It seem that the companionship has kindle a lot of upper-case letter , over many rounds ( I ’m count eight dissimilar rounds of funding ) , but the company has n’t reached proper growth yet . That ’s not rare in aesculapian devices , of course , but I ’d want to understand what go bad wrong here and what the company has done to flow - correct so it ’s not needing to raise yet another span round in a yr .
What the PitchBook datum tells me above all is that this party really want to start construe some results , and soon . I ’d also need to do recondite industry on the company ’s ceiling board ; who owns what in the party , and are the founders still adequately engaged to see them through the next stage of the byplay ?
The full pitch deck
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