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First Round co-led our seed round in 2017, and I still remember the onboarding call with @brettberson and the exceptional platform team. They had a great presentation where they walked me through what to expect over the coming years (of course they did – this is how @firstround does everything), and it included a chart that outlined First Round's typical 'engagement over time' with a company.
The chart showed their involvement peaking around the Series A and then receding as time went on and the company moved to IPO – in other words, it was their way of telling you that they were going to be able to add the most value over the next 2-3 years, so make the most of it.
I think back often on that chart as having woefully undersold the power and value of having First Round on your cap table. Eight years after their initial investment, First Round continues to be among our most helpful and active investors – from the day-day-today of high-value customer and candidate intros to participating in every round across our $92m of capital raised. There are weeks where we think that partners like Brett and Roy Rosin must be working full-time at Stedi instead of doing their main jobs at First Round.
It was a pleasure to sit down with Brett for the podcast.
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