by Philip Russo
For a number of proptech founders, avoiding the siren song of venture capital funding can lead to greater control of their startup’s development.
However, knowing when to pivot to accepting VC largess can make a large difference in a company’s ultimate success, according to founders who have gone through the process.
“When we decided to turn into a product company, we evaluated taking capital,” said Brent Steiner, founder and CEO of Engrain, a Denver-based property touring and map-based data visualization software technology company. “But after talking to many smart people, [including] some venture capitalists, the consensus was if you don’t have to take money, you shouldn’t. And as an entrepreneur, I’ve always felt that early on while you’re trying to find product market fit and make sure there’s a place for you in the world, you should raise capital — by selling something.”
Read Philip Russo’s article in the Commercial Observer.