Pitch Deck Teardown: Feel Therapeutics’ $3.5M seed deck
Feel Therapeutics aims to drive forward mental health care with a scientific approach. The company develops wearable devices, mobile apps, and clinician dashboards to collect physiological, digital, and clinical data. Recently, it secured a $3.5 million funding round and shared its pitch deck for analysis. Let's delve into the strengths of their fundraising efforts and areas that need improvement.
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Slides in this deck
The company successfully closed its $3.5 million financing with a concise 11-slide deck. The deck remained true to the pitch, except for the exclusion of some clients.
- Cover slide
- Problem impact slide
- Problem slide
- Technology slide
- Solution slide
- Traction slide (business metrics)
- Traction slide (white papers and publications)
- Moat / Patents slide
- Team slide
- Ask and Use of Funds slide
- Closing / Contact slide
Three things to love about Feel’s pitch deck
Feel Therapeutics presents an original deck with unique elements rarely seen. The company effectively narrates the overall story.
Why isn’t mental health measurement more widespread?
In the era of self-quantification where devices track various aspects of health, Feel Therapeutics raises a valid question: Why isn’t mental health monitored as well?
This initial dialogue approach is strategic. Starting with "We track everything, why not this?" effectively captivates attention.
Comprehensive Overview
When startups build extensive platforms or systems encompassing various company aspects, the presentation can get convoluted. Feel Therapeutics impressively consolidates all components on a single slide.
Commencing with a broad view and progressively detailing specifics is a prudent move in fundraising presentations, especially for intricate businesses. By starting broadly, investors gain a general perception of the startup. Subsequently, integrating detailed aspects ensures a clear and interactive storytelling that maintains investor engagement.
Gradually introducing specific details aids investors in building on existing knowledge without feeling overwhelmed. This sequential approach maintains investor interest, sequentially adding depth to the narrative and facilitating coherent and structured pitches.
Effectiveness Evaluation
This slide proficiently presents solid numerical data crucial for showcasing traction. Highlighting their 2,700 patients across nine countries is impressive, indicating the product's efficacy with a substantial sample size. However, simplifying or clarifying complex medical terms would enhance audience accessibility.
While patient numbers demonstrate traction, revenue serves as the ultimate business viability proof. Incorporating revenue figures or financial projections would offer a complete traction and business potential assessment.
Three areas for Feel Therapeutics to enhance
Given the 11-slide deck, essential elements that investors require are missing. Additionally, some existing aspects could be refined.
Running the deck through an AI tool unveiled feedback on the missing/incomplete information, particularly concerning competition assessment, go-to-market strategy, and operating plan. Business model, pricing considerations, target customer details, and unit economics were recommended inclusions.
Innovative Approach to Funding Request and Allocation
Feel Therapeutics presents investment terms on the "Ask and Use of Funds" slide, a deviation from standard practices. While terms are typically negotiable pending investor discussions, the company likely already secured a lead investor and aims to finalize the funding cycle. However, negotiating funding terms is customary and essential to investment processes.
The utilization of funds section lacks specificity, resembling vague concepts rather than a detailed plan. Presentation of milestones sans associated timelines or financial projections implies insufficient clarity on the roadmap and business direction.
SMART goals incorporating specificity, measurability, achievability, relevance, and time-bound aspects should be adopted for fund allocation plans. Detailed, tangible goals provide confidence to investors regarding a structured and effective fund utilization strategy.
Inadequate Team Presentation
The team slide appears prominent but lacks clarification on their suitability to lead the company. While industry and psychiatry experts are listed, their involvement and contributions to Feel Therapeutics' operations remain unclear. Highlighting specific achievements and relevance to the company's goals would demonstrate the team's capability to tackle market challenges effectively.
While mentioning team members' publications and citations is impressive, focusing on tangible business outcomes instead of academic accolades would improve investor appeal. Emphasis should be on portraying how the team's expertise translates into actual business success in addressing Feel Therapeutics' objectives.
Understanding the Fundraising Progression
In addition to the current $3.5 million round, it's vital to comprehend Feel Therapeutics' previous fundraising endeavors. While significant capital was raised over multiple rounds, the company's growth trajectory seems unsatisfactory. Deep due diligence into the company's capital structure and founder engagement levels is crucial for ensuring sustainable business advancement.
The need for tangible business results to align with extensive funding rounds is evident, underlining the necessity for operational success in subsequent phases of growth. Thorough examination of the company's cap table and founder commitment levels is imperative for evaluating future business progression.
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