Even though kevin Buske, who is a co-founder of TaskRabbit, did not receive the response he was hoping for the first time he gave his new venture to Aydin Senkut of Felicis Ventures. However, he said that the result was one of the best things that could happen.
“I’m glad they didn’t invest at that time because it forced me to take a hard stance on what we were actually doing,” said Basque. “The era of that seed was an absolute slogan. I think I spent seven or eight months trying to raise a round for a product that didn’t exist, purely on sight.
Eventually, the idea developed into a guideline, describing itself as a “full-service, full-stack 401 (k) plan” for small businesses. Eventually, Senkut wrote a check – Felicitas led the $ 15 million Series B round of Guideline. Today, Guideline has more than 16,000 businesses in 60+ cities, with more than $ 3.2 billion in assets under management. The company has raised about $ 140 million.
This week on Extra Crunch Live, Buske and Senkut discuss the Guideline’s series B pitch deck – which Senkut described as a “role model” – and how they built trust over time.
The pair offered clear, actionable feedback on the pitch’s deck, which were presented by additional crunch live audience members. (By the way, your pitch deck can be featured in future episodes using this link Here only.)
We have included the full video of our conversation as well below.
We record new episodes of Extra Crunch Live every Wednesday at 12 noon PST / 3 pm EST / 8 pm GMT. See the February schedule here.
- How they met: 1:30
- Building Trust: 11:30
- Inside the series B deck of Guideline: 16:00
- Pitch Deck Tearing: 33:00
how did they meet
Senkut and Buske met almost a decade ago, when Buske was still in TaskRabbit. Several years later, Buschke launched on his own and began fundraising for his original idea. Even though he did not get any from Senkut, it was not an easy decision.
Looking back, Senkut said that he had more freedom to follow his instincts while investing in heaven.
“As an institutional fund with LP, we were all feeling the pressure of checking the checkmark,” Senkut explained. “It’s amazing how, sometimes, being more structured or analytical doesn’t really always lead you to make better decisions.”
When Buskake came back after the pivot, Senkut called it a “no-brainer” to watch Series B, especially because of the type of CEO Buske.
“Kevin’s opinion as a person is that he is an excellent war CEO, but he is also a product visionary,” Senkut said. “We call them missionary CEOs.” There are mercenary CEOs who can extract every ounce of dollars from a cliff, but we are paying more attention to CEOs like Kevin who are focused on the product first. People who have a really sharp vision of what the problem is, and. A very specific vision to solve that problem and eventually turn it into a long-term scalable and successful company. “
Buske said that he was drawn to Senkut based on his level of trust, explaining that Senkut doesn’t always have to go through the book.
“If he wants to write a check because the founder is great or the product is great, he does it,” Biske said. “It is not necessary that he has to see a certain metric or growth pattern.”
Obviously, years of staying connected and communicating (and not just about guideline) laid the foundation for building relationships. Buske said that there was honesty in their interactions, including early disapproval of Senkut, he relied heavily on himself.