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title: Page / Investor Profile
tags: [Page]

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tags: Page
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# Page / Investor Profile

Investor detail is the profile details of a specific investor. If that investor has access to the company's deal room then metrics are shown. How do we create insights from that data?

## Metrics

- Name + Email Address
- Deal Room Access (On/Off)
- NDA Signed (Y/N)
- Amount Invested ($)
- Investor Time Spent (Total)
- Investor Time Spent (Ave)
- Total Views
- Documents Viewed 
- Documents Downloaded
- Investor Activity Log
    - Simulated Investment (investor simulator)
    - Document Views/Downloaded/Printed
    - NDA Signed
    - Cap table viewed* `new`
    - Pre-money valuation report downloaded* `new`
    - Activity Log

## Next Cycle
### Major Feedback on the new Investor Analytics Tool
A net improvement will be replacing the dashboard with something that shows the most recent:
- Visits
- Simulations
- Recent link visits

![](https://i.imgur.com/ytksc0R.png)
![](https://i.imgur.com/2lCXpdn.png)



### Overall Goals of the Version 0.2 of Investor Analytics @marvin
One of the major goals of investor analytics is to easily empower the founder with the tools to be able to answer two things:
1. *assess investor interest & sentiments*
2. *close investments by assessing & tracking investor interest & sentiment*

A big part of this tool needs to be providing the founders with three data points about each investor that access the deal room:
1. Is this investor interested in investing?
    - If not, why not?
3. If so, what data do they need to close their investment?
    - If they had this information, how much would they invest in my company?
    
Assessing investor interest means understanding the data they're consuming in the deal room itself, what they're looking at and simulating. With that data, a savvy founder can go ahead and use that information to close an investor. Most founders we speak to are savvy, but when it comes to fundraising, most we meet do not use investor analytics strategically. Using investor analytics strategically is a mix of three things:
1. **Data** - this is the data in the dashboard that's being showed;
2. **Recents** - the data above focuses on providing data points on the latest activity, but most importantly incorporating the most *recent* data. As a founder, I want to know what was the most *recent* activity in the deal room. Who came into the deal room last? What did they look at? How long were they there?
3. **Communication** - series of email to the founder & investor that make it interactive. For example, we've implemented emails that communicate:
    - "Investor A just accessed your deal room"
    - "Investor B just accessed your deal room via a link"
    ""- Investor C just invested in your round"
    
# **Major Observations**
# Here are major observations I've learned using the investor analytics tool, and observing other founders:
1. 9 out of 10 founders **do not** understand the importance of tracking investor analytics;
2. Staying consistent on reading/tracking investor analytics = a more successful fundraise;
3. Tracking investor analytics is burdensome when you need to do it every week and understand what the data is telling you;
4. Using tools like Docsend, etc, are great - but having to synthesize this week's investor analytics performance into actionable items, follow ups is tedious. 
5. The purpose of investor analytics is to accelerate funding and give founders transparency;
6. Seeing the figure that investors simulated is possibly the most unique data point that Raise shows, and the most *useful*. Investors will typically have a *check size* in mind that they will write to fund a company. So if it,s $25,000 or $100,000 - every time they speak to that founder they've already pre-decided an amount of money they would fund the company should they decide;
7. Investors like to feel *special*, as if a deal room or data is being uploaded just for them;
8. Activity log is an extremelly useful feature, but difficult to navigate to because I have to click on "View Profile"
9. Emails that communicate to the founder when someone signed in, or accessed the deal room are extremelly useful to understand what's currently happening in the deal room. Fundraising is an *active* activity, it's like a full-time job. So tracking the analytics = is key to a succesful fundraise.
10. 
11. Even when you do sign in every week to check out the investor analytics, since 9 out of 10 founders in African tech do not understand how to use investor analytics strategically, then we may need to guide them in how to take actions. There are basically three actions you can take following investor analytics data review:
- Follow up with the investor with new data or updates;
- Suggest moving towards a close with the investor
- Read sentiments to understand how much each investor would invest

12. 

### Design Questions

1. Since you left the deal room this is what happened.
2. Which investors have recently been active.

## New Metrics
### Pre-money valuation report downloaded
- [X] Why? `@marvin`
    - The full valuation report shows the total valuation data that an investor would need to see to understand the company. Seeing the valuation report being downloaded (if you have one) - communicates to you that the investor knows your valuation and is willing to download the report to look at it in detail. This gives the founder an understanding that when they speak with that investor next, they know they would have downloaded it. 

### Last Visited
- [X] Why? `@marvin`
    - Last visits allow you to understand what an investor was doing last. And who signed in last. Fundraising is a day to day game - week to week. Understanding what was happening last allows you to more easily track your last conversations before following up. Basically, every week a founder should be sitting down, and following up on emails *AFTER* looking at the latest investor analytics to tailor their emails better.

#### Technical Considerations
- ...

### Financial Performance
- Were the tabs clicked?
    - [X] Why? `@marvin`
    - This and the investor analytics are some of the more useful data points that only Raise can show. The financial performance of the company is the most *useful* data point and most important one. Basically, most investors will make a decision of their investment in the company based on a mix of factors, but it ultimately comes down to three questions:
        - *How much money will you make in the future? (financial performance card)*
        - *Have you proven a business model in the past that could make that money in the future? (financial performance and financial tab)*
        - *What's the value of your company, and how much could my money be worth if you pull this off? (simulator)*

Seeing if the "Forecast" financial performance card was clicked communicates that an investor is looking at your future financial performance and at least has seen it. So you can communicate about it.

#### Technical Considerations
- ...

### Investor Simualtor
- How much was simulated?
    - [X] Why? `@marvin`
    - This is straightforward. Seeing how much money an investor simulatred **directly** communicates to you how much that investor is thinking of investing in the company. If they do two simulations, then you can use that range. But we've seen many situations where an investor simulated $100,000, and then invested $100,000, or simulated $5,000 and then invested $5,000.

- How long they spent on the simulator?
    - [X] Why? `@marvin`
    - I don't know how long they spent on it is useful, so much as how many times they simulated, and the amounts they simulated. Ideally these two data points are somewhere, easily accessible, like a running feed that shows which was simulated, by who, and how much. As well, it could automatically show me as well *how much their investment would be worth from what they simulated*, that way when I speak to the investor next, I can communicate that if they made that investment, their money would be worth X by the time our company grows. Currently, we only show the "future value" of the investor's investment to the investor. If we could show that "this is how much an investor simulated, and this is how much their investment could be worth", then we're *arming* the founder with extra data to more easily communicate investor's potential success through investing in the company.

#### Technical Considerations
- We already collect the "Future Value" of the investment in the simulator, including the multiple (e.g. 5X).


### Documents
- What was viewed in a specific document?
    - [X] Why? `@marvin`
    - Seeing what pages investors looks at tells you which pages they spend a lot of time on, what they looked at and the pages they spent the most time on. For the moment though, in this cycle build, I would advocate that we first focus on making the document viewer *note below*, more easily viewable for an investor before considering this new investor analytics point to see which pages were looking at. Having to navigate and open each page in a dialogue box is burdensome and breaks up the flow of investors' due diligence. **How might we make document viewing simpler across the entire Raise platform**?
- How much time was spent on a specific document?
    - [X] Why? `@marvin`
    - This is a useful data point. I would want to know for example, that an investor spent 50 minutes on my cap table, versus 5 minutes on my financial model. That either communicates to me that:
        - There are concerns around my cap table; and/or
        - My financial model is perfect.

Either way, I have something to follow up with the investor on. 

```
NOTE: Document viewer might be bulky (long load time) and causing users to open and close the documents to get it to work.
```

#### Technical Considerations
> *We would have to create our own document viewer in order to tell how much time was spent on a specific page.*

##### Is it possible to track how long the document viewer is open?
> *Yes, It may be possible but would have to confirm.*

### Cap Table
- Cap table viewed
    - [X] Why? `
        - Investors will typically look at the cap table towards the *end* of a transaction. If they see the company as worthy of their investment, and they're looking to make an offer. They want to check the final cap table and visualize what it looks like to understand their investment and the current ownership of the company. Even when I look at the history of investor analytics on our Deal Room, I can see the investors that viewed data looked at the cap table last. But that's maybe because it was in the Documents Tab. When it is a visual tool on our platform, it will be easier to access. I would be more interested as a founder to know if they visualized the FUTURE state of the cap table, because that would show me that they're interested.@marvin`
- Viewed future version of the cap table
    - [X] Why? `@marvin`
        - If an investor clicks on the future version of the cap table, more than once, then they're definitely interested. So it would be worthy to show whether an investor clicked or not to view the cap table.

#### Technical Considerations
- ...

### Valuation report
- Was it downloaded?
    - [X] Why? `@marvin`
    - See above notes - but downloading a valuation report is an important data point. The valuation will be the most contentious parts of the negotiation for a founder. The valuation is tied to the valuation cap on the instrument the company is providing. So if I say my valuation is $2m, I may say that my valuation cap is $2.5m.

#### Technical Considerations
- ...

## Insights `idea`
How might we help founders understand the investor analytics in order to be actionable?

- [ ] Extend concept description `@ed`
- Providing analytics is only useful if the founders understand the data they are being given. The idea here is to provide less data with more impact. 
- Can we make sure that we aren't just overloading the founders with data that they don't know how to use
- [ ] Why? `@ed`
- It is important to understand that data is only as useful as the context it is given in. 
- What level or metric is being shown about the investors behaviour? What can the founder do to get their desired outcome of a commitment 

**Investor Engagement Level** `IDEA` 
- Could we cross calculate the time spent with number of clicks to create an Investor Engagement Score?
- Low, Medium, High scores of engagement
- e.g Investor spent 1hr in Deal Room w/ only 5 clicks = Low Engagement
- e.g. Investor spent 5mins in Deal Room w/ 50 clicks = High Engagement
- This might be a very useful way of providing some context to the founder, as well as giving them an idea on who and where to focus their energy

**Exponding on the Investor Engagement Level Idea** @marvin
- A way we could do this is to expound on investor engagement level. For example:
    - Investor A simulated an investment, downloaded the valuation report, looked at three documents, and clicked on the cap table and financial performance = HIGH ENGAGEMENT
    - Investor B downloaded the valuation report and simulated an investment = STRONG ENGAGEMENT
    - Investor C came into the deal room 5 times in the last four days and looked at 15 documents = High Engagement
    - Investor D never accessed the deal room = Low Engagement.

We can create a rubric around this!

...

## Card Sorting `Discover`
How might we be able to use user feedback and testing to determine the optimal order and categorisation of Deal Room components.

**Open Testing:** We get the user to name categories themselves so we can get some new perspective on how to name things.

**Closed Testing:** We provide the categories based on the tabs in the investor navigation and see how they sort the components into those tabs.

### Current Components & Categories/Tabs

#### Categories/Tabs

1. Investment Terms & Simulator
2. Company
3. Financials 
4. Legals
5. Funding 
6. Milestones 
7. Documents 
8. Make an Offer `implemented?`

#### Components 

1. Investment Terms
2. Simulator 
3. Financial Performance
4. Use of Proceeds
5. Burn Rate
6. Pre-Money Valuation
7. Key Driver Metrics
8. Company Overview
9. Capitalisation
10. Funding History
11. Milestones & Highlights
12. Company Incorporation Details
13. Team, Founders, and Advisors
14. Supporting Documents

**NOTES:**

- I think the Funding and Milestones tabs could merge into one. Or perhaps Funding History could move to Financials, and Milestones could move to Company.

...

## Simulated Investment (investor simulator)
Usuaully when investor simulates an investment, it ends up being the amount they offer (if they do end up making an offer)

---
### NOTES
> - *I don't care about the aggregate data points so much , like time spent.*
> - *Doc send shows last active*
> - *Who accessed*
> - *When they accessed*
> - *What they looked at*
> - *When was the last time they looked at things*
> - *Which specific documents were looked at the most*
> - *Which specific widgets were looked at the most
> -- @marvin*

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> *We already have an events system that colelcts data*
> *To specify each data point we need to collect*
> *Should we outsource the analytics because it is a complicated system to build.
> -- @jeremy*
