Announce Your Fundraise Like a Pro – And What Follows

Raising capital is never easy, and the current economic climate has only made it much more challenging for property technology (PropTech) firms to do so. A report from the Center for Real Estate Technology & Innovation stated that venture capital funding for PropTech companies fell 14.3% year over year in the first half of 2024. 

If you're one of the PropTech firms that successfully secured funding in this environment, it's critical to outline a press campaign to fully capitalize on your achievement. Announcing your fundraise is a pivotal moment that validates your business and can attract additional investors, customers, employees, and partners. It can be a tremendous value add for your brand and extend your new round even further if done correctly. 

To make the most of this opportunity, executing a well-planned press campaign is essential and should not be overlooked. Here’s a guide to help you craft an effective strategy that creates buzz and amplifies your fundraising announcement.

Craft a Strong Narrative

Discuss with your investors and team what the goal of a press campaign would be. Ask yourself why it matters and how it aligns with your company’s broader mission. Is the goal to build credibility? Attract new investors for future rounds? Bring in new talent or customers? Answering these questions is critical to developing a strategic plan.

Prepare Your Press Materials
To ensure your story gets picked up and covered accurately, prepare several key assets for the press:

• Press Release: Write a concise, engaging press release with all relevant details. Use a compelling headline, and include your company’s boilerplate and quotes from your CEO and lead investors. Ensure it answers the "who, what, where, when, why, and how.”
• Fact Sheet: Create a one-pager summarizing your company’s background, key facts, recent milestones, and future vision. This helps journalists quickly understand your company. 
• Visual Assets: Have high-quality images, including headshots of founders, product images, and company logos, ready to share. Engaging visuals can make your story more appealing to media outlets.

Create a press kit with all these materials and host it on cloud platforms like DropBox or Google Drive to easily access and avoid email size limitations.

Outline a Media Strategy

An effective media strategy is just as crucial as your press release. Building relationships with journalists is key to securing coverage for your fundraise. Start by:

• Researching journalists: Identify journalists who cover your industry or have previously written about similar companies. Look for those who understand the startup ecosystem and venture capital landscape. 
• Personalizing your pitch: Don’t send a generic press release to every journalist. Craft personalized emails highlighting why your fundraise is newsworthy and relevant to their audience. 
• Offering exclusives or pitch under embargo: Some journalists appreciate exclusives or early access to the news. Offering an exclusive might give your story more attention, but be selective and ensure the publication aligns with your brand and goals. Pitching under embargo allows reporters time to prepare, giving you more control over when the story goes live.
• Consider Using a Wire Service: Distributing your press release through services like BusinessWire or PRNewswire can amplify your announcement and improve SEO. These services come at a cost, so weigh the benefits against your budget and strategy.
  

Maintain Momentum

After announcing your fundraise, keeping the momentum going is essential. Sharing placements and interviews via social media and owned channels such as your company’s blog and email blasts is a quick and easy way to share and amplify the news. 

Also, consider implementing a sustained PR program to extend the impact of your announcement. This can include:

• Leveraging spokespeople: Continue to have your CEO, founders, or other key executives engage with the media for interviews or expert commentary on relevant trends and storylines
• Contribute bylined articles: Position your leadership team as thought leaders by submitting articles or opinion pieces to relevant industry publications.
• Submit for awards: Apply for industry awards or recognitions to further validate your company’s success and build credibility.
• Attend or speak at events: Participate in relevant conferences, panels, or webinars to showcase your company’s growth and expertise. These opportunities can help solidify your presence in the industry and keep the conversation going.

Announcing your fundraise through a press campaign is a powerful way to build credibility and attract attention to your company. By carefully planning the timing, crafting a compelling story, preparing suitable materials, engaging with the media, and maintaining the momentum post-announcement, you can ensure your company receives the attention and recognition it deserves.