Intro

Insights: What Actually Works for Startups

Hillestad recalls his early days as a self-described Silicon Valley outsider. “People spoke highly of Heavybit, but after I had my first conversation, it was clear they really got my company, which is so important for me. They picked apart my business and told me exactly what they thought I needed to fix.”

“And that was really the thing that got me interested. It took me more than half a year to get Heavybit to invest in Sanity. These were the people I wanted to have on my cap table.”

I recommend Heavybit because they have people who truly are there for your interest. They are programmed to be aligned with founders.”

The CEO reflects on how Heavybit had a noticeably different outlook than the seemingly generic approach of other funds. “It was Heavybit’s focus on go-to-market that surprised me–that these very technical people would focus so much on sales and marketing. And all the conversations were about helping me understand what ‘good’ looked like, because at the time, I had no reference point.”

Community: Connections for Learning and Growth

Hillestad also notes that Heavybit’s community has been extremely beneficial. “Being part of the community–joining the office hours program to speak to mentors, or meeting other founders–that has been very valuable, and something that I didn't expect.”

“I’ve gotten to meet other good people–including a future investor and advisor–by attending Heavybit’s events for founders. I’ve been getting to know other founders and realizing how brilliant they are. I have to be selective on events due to family obligations, but I make time for Heavybit because the community is really good, and really relevant for founders.”

This is what the value is. The community, the partners that are on top of things, the network of experts.”

“I really cherished this sort of thing. Nothing compares to those days of being able to meet and have lunch with those other startups. We’d sit down and chat with them. Get to know them. It’s so valuable to be able to talk to other folks in-depth, specifically people who are at the same stage you are.”

Fundraising: Partnering for the Future

The CEO notes that Heavybit is still a valuable partner as Sanity grows. “I think there's also something to be said about fundraising, because it wasn't just me doing the fundraising. It was fundraising with Heavybit. And it was really valuable to have the whole Heavybit team behind me to help me navigate the process.”

The CEO is blunt about the tough fundraising environment going into the pandemic in 2020. “It was terrible timing. We had a lot of traction, and a lot of interest in our company, and then the pandemic started, and it became very difficult to fundraise.”

Heavybit opened a lot of doors for us. In addition to helping our company scale, they advised us on how to fundraise.”

“It was difficult to figure out who was interested, whether they were really interested, and sometimes even to get in front of people. But to have Heavybit with us was great. And the investment partners we found for that round wouldn’t have had that faith in Sanity without the stamp of approval from Heavybit.”

“I've seen Heavybit be very supportive of companies in these transaction-based situations. They were also very supportive when we did our Series B. I made our deck with Heavybit’s help, and now that we’re going to raise our Series C, I’m going to go back to Heavybit for support, because they’re just so brilliant at it.”

Experience: Knowing When to Have Conviction

The CEO offers, “I think there’s also something to be said about Heavybit’s ability to ‘step up.’ They understand when and where to take a stand on strategic decisions. Before we raised our Series A, they pulled me aside and advised me that we could reasonably take some more money.”

“On some level, that was Heavybit daring to put their money where their mouth is. And I feel the same about decisions that aren’t based on funding–like significantly leveling up the product strategy for Sanity. Heavybit advised us that, yeah, this is the right time. We should do this. It’s helpful to have support from someone you know can be critical and push back if they disagree.”

Time and again, and everybody says this: Dealing with Heavybit is full integrity aligned with the founders. That is good.”

“But this idea of daring to lean in is important, which Heavybit will do in the right situation for your company. And Heavybit dares to be transparent with me, which, as a founder, is also super valuable.”

“I recommend many people in many companies to try to get into Heavybit. It’s also why I invested in Heavybit. It's all the things that I've been talking about, especially how they really understand the users, and help you understand the go-to-market. And that they really care.”

“Heavybit is not just VC people–they’re more founders than VCs in that they understand you and want you to succeed, and they’re very aligned. I always trust them. It should be like that.”