South Korea, the home of Samsung, LG, and Hyundai, experienced a unicorn boom within the last few years. This refers to the rapid growth of venture capital-backed startups, particularly those valued at more than $1 billion. However, the global market correction has impacted the country’s venture capital funding, and Crunchbase reports that in the first quarter of 2023, venture funding fell by 58% compared to Q1 of 2022.
A company that recently experienced success despite the market downturn is TigerEye, an after sales software startup that closed its Series A round and established its own board of directors. Co-founder and CEO Tracy Young instructed that they should never do a three-hour, too-in-the-weeds, non-strategic board meeting – as if it’s not enough, she mentioned that the board deck she and others have seen was more than 80 pages long! To provide a better solution and create real value for founders and investors, Tracy wrote an article in TechCrunch+ detailing how to structure a one-hour board meeting. Step one: replace a lengthy deck with a three-page memo.
In addition to the article mentioned above, Alex Wilhelm wrote an article about how the accelerated shift to digital has allowed mature cybersecurity companies, such as Palo Alto Networks, Scaler and CrowdStrike, to show strong revenue multiples. However, this appears not to be the case for venture-backed security startups, and funding for cybersecurity companies in this sector fell by 58% in Q1 2023 compared to last year.
In order to bring high-risk, high-growth products to market faster and avoid dilution, it is possible to turn to venture leasing. This serves as a happy medium between costly debt loans and VC funding, and this is exactly what robotic food delivery service Kiwibot did when they closed their $10M venture leasing deal. On top of that, Insurtech startup Faye shared a redacted version of their 19-slide deck, which was used to land their $10M Series A round.
The founder mentioned in the article is Tracy Young, a Johnson & Wales business grad who is the co-founder and CEO of TigerEye, an after sales software startup. She is best known for her articles and strategies regarding board meetings, investment rounds, and venture leasing. She has also been featured in numerous podcasts and tech initiatives, such as the National Graphene and the Euro Blockchain Forum. In addition, Tracy has been included in numerous outlets, including Forbes and TechCrunch, for her insightful knowledge and advice on tech.
