LinkedIn helped him Raise $13.8 Million for his Startup!

This is going to be an eye-opener for startup founders.

I keep suggesting "focus on personal branding, use LinkedIn effectively", it helps!

I read this article in Forbes, thought to summarize for my audience to share how this startup founder raised US$13.8 million using LinkedIn effectively.

Lets dive into the fascinating journey of Benjamin Harvey, CEO of AI Squared, and how a bold move on LinkedIn turned into a windfall for his company.

LinkedIn was his tool to access networks.

A Relentless Vision Takes Flight

Harvey, a 38-year-old entrepreneur, wasn't afraid to chase his vision. Fueled by a strong belief in AI Squared's potential, he made a direct LinkedIn pitch to Roger Ferguson, former CEO of TIAA, in February 2022. His message? A simple request for a 15-minute phone call to showcase AI Squared's capabilities in the financial services sector. The response? An invitation to breakfast at the Four Seasons!

The Power of Persistence

This story highlights the power of persistence. Harvey's relentless pursuit of his vision, coupled with a strategic approach on LinkedIn, opened doors that propelled AI Squared forward.

Lessons Learned:

• Don't be afraid to reach out: Connect with potential investors and partners directly on platforms like LinkedIn.
• Focus on value: Clearly articulate the problem you solve and the value you offer in your initial message.
• Be professional, yet bold: Maintain a professional tone while showcasing your confidence and passion.

Building a Business with Big Dreams

Founded in 2019, AI Squared has secured a total of $20 million in funding. Their Series A round, led by venture firm Ansa Capital and including participation from NEA and Ferguson, closed at a significant $13.8 million in March 2024. Despite not yet being profitable, AI Squared forecasts exceeding $10 million in revenue this year through product licensing and data usage fees.

A Team with a Purpose

Headquartered in Washington D.C., AI Squared employs 30 people and boasts an impressive client list. This includes the U.S. Air Force, Navy, NSA, cybersecurity giant Rapid7, and even a Coca-Cola contractor in Florida. Their mission? To help organizations unlock the full potential of their AI investments by bridging the gap between data and actionable insights.

Solving the Last Mile Problem

Greg Papadopoulos, an NEA investor and AI enthusiast, believes AI has the power to democratize technology. He emphasizes the "last mile problem" in the AI space – companies invest heavily in building models but struggle to integrate them into applications for real-world impact. This is precisely the challenge AI Squared tackles, functioning as the "washing machine" that not only cleans the data but also dries, folds, and neatly stacks the insights for easy use.

LinkedIn is free, it has the potential to give us access to over one billion professionals!

Did you get any inspiration?