How to manage a funding round in the deal room? / How funding rounds work?

A funding round can be created for a company application by a deal room member who has at least 'View companies and create funding rounds' companies access and full activity access or a deal room member who has been set as the round lead in the funding tab of the specific company application. You can also let companies create a funding round while applying to the deal room. For that, go to your deal room 'Settings' -> 'Preferences' -> 'Funnel setup', open the additional actions menu of the corresponding funnel step and choose 'Application link'. You can choose if creating the funding round is optional or required. When company creates the funding round while applying, they will be given funding round lead access.

The following can be configured for each funding round:
Funding round type.
Primary currency.
Round target.
Whether investors are required to agree to any terms when joining the funding round and what these terms are
Round status (open/closed).
Role of the company (excluded/observer/round lead) .
Access of your deal room members who are not funding round participants and don’t have 'View companies and create funding rounds'/'Full edit' companies access and full activity access.
How much information about your deal room members who participate in the funding round is shared with the company (applicable only when the role of the company is ‘Observer’).
How much information about your deal room members who participate in the funding round is shared with other deal rooms that have access to the funding round.

Funding round type, primary currency, target and terms can be configured by the round leads and members of lead deal rooms who have 'View companies and create funding rounds'/'Full edit' companies access and full activity access. Access of deal room members and visibility of information about indicated interests can be configured in each deal room that has joined the funding round separately by members who have 'View companies and create funding rounds'/'Full edit' companies access and full activity access.

If the company's role has been set as observer, they can see the funding round documents that have been made visible to them, upload documents, see information about indicated funding interests that has been made visible to them and add information about existing commitments/interest from other investors.

If the company has been given the round lead role, they are additionally able to see complete information about indicated funding interests, edit the list of funding round participants and their estimated investment amounts, edit funding round type, status, primary currency, target and terms, manage funding round documents and invite additional investors to the funding round. They are also able to assign/remove the round lead rights to/from any participating investors or deal rooms and give up their own round lead rights.

Investors who have access to the funding round can see what is visible to the company by clicking on 'Who can see this?' in the top right corner of the Funding tab.

Each funding round has:
A section for storing and sharing funding round documents (also visible in the ‘Documents’ tab of the company application). Funding round files can be optionally shared with the company as well.
Dedicated funding round chat where users who have access to the funding round can have a group conversation with the company (chat is only visible when the company's role is 'Observer' or 'Round lead').
Participant comments section where users who have access to the funding round can discuss the funding round internally as comments are not visible to the company.
An activity log that is visible to the lead investors and deal room members who have 'View companies and create funding rounds'/'Full edit' companies access and full activity access. All the emails sent to funding round participants are visible in the funding round’s activity log. In the activity log, you can also see when someone has indicated, updated or removed their own or other member's funding interest.

It is also possible to add tags to funding interests. Each member can add tags to their own investment interests. Tags can also be added to other members' interests by lead investors and deal room members who have 'View companies and create funding rounds'/'Full edit' companies access and full activity access. Admins can set up a list of funding interest tags for use in the deal room in Settings > Preferences. Tags that are not included in the predefined list can also be added to funding interests.

If investors are required to agree to the terms of the funding round, they are not able to add their funding interest without ticking the corresponding checkbox in the dialogue that opens after they click on ‘Mark my interest’.

If private mode has been activated for a funding round, then funding round chat, participant comments and funding round documents are visible only to funding round participants and deal room members with 'View companies and create funding rounds'/'Full edit' companies access and full activity access. Others who can see the company’s application in the deal room can only see the name(s) of the round lead(s) and can request to join the funding round. They will have to be approved by a round lead or member of a lead deal room who has 'View companies and create funding rounds'/'Full edit' companies access and full activity access in that deal room.

You can learn more about how funding rounds work from this video.

How to prevent members from marking interest in a funding round?

If you want your members to no longer be able to mark interest in a specific funding round, you should change the round status to closed. You can do it when you navigate to the funding tab on the application related to the round and click on ‘Edit details’. Mark the round status as ‘Closed’ in the dialogue that opens and save the changes by clicking on 'Update’.

If you don’t have the round lead rights, you should ask a user with round lead rights to change the round status.

Please note that you cannot prevent members from marking funding interest on applications that you have not created a funding round for.

How to allow companies to create a funding round when applying to the deal room?

You can allow companies apply to your deal room with a funding round when you go to Funnel setup and open the application link properties dialogue of the funnel step where you want to allow companies apply with a funding round. In the 'Company can start a funding round' section you can choose whether companies are required to create a funding round, can optionally create a funding round or cannot create a funding round when they're applying to your deal room. Please note that when the funding round is created by the company, the company will have the round lead rights for that funding round.

What to do when a company that is already in the deal room wants to raise another funding round with members of the same deal room?

In such case, the company should submit a new application to the deal room and you can create a new funding round for the new application.

Alternatively, you can create a duplicate of the application they have previously submitted to your deal room by using the ‘Duplicate’ action available in the ‘All actions’ menu of the company application. You can create a funding round for the new application and move the application through your funnel. The company will be able to see and edit the duplicate application you create (unless it has been locked for changes by your deal room) and you can make the funding round information visible to the company if you wish.
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