Can this company scale cleanly with capital?
If your cap table looks like a spaghetti chart, or your documentation is scattered across Google Drive, the answer is often “no.”
At Sea Change Advisors, we’ve helped founders navigate the fundraising process with confidence—and it all starts with investment readiness. Here’s what that means and why it matters.
Your capitalization table (or “cap table”) outlines who owns what in your company: founders, employees, early investors, advisors, and option holders. It’s a snapshot of your ownership structure and a crystal-clear signal of how organized—and investable—you are.
Dozens of small, early investors with unusual terms
Unclear or missing vesting schedules
Convertible notes or SAFEs without clear conversion triggers
Founders with very little equity remaining (<20% post-Series A)
Co-founder disputes or unvested shares after a team breakup
Even if your product is growing and your market is hot, a messy cap table introduces risk, legal complexity, and often hours of due diligence work that slows or derails the process.
💡 Investor takeaway: “If this founder hasn’t cleaned up ownership, how buttoned up are the finances or operations?”
The most fundable founders don’t wait until diligence to organize. They get ahead of the curve with a professional data room that demonstrates transparency, readiness, and a respect for investor time.
Corporate Documents:
Certificate of incorporation, bylaws, board minutes
Stock purchase agreements, equity incentive plans
IP assignments and employment agreements
Financials:
Current and historical P&L
Cash burn and runway projections
Balance sheet and cap table (ideally modeled with pre/post-round ownership)
Growth & Ops Materials:
Customer acquisition metrics (CAC, LTV, payback period)
Churn and retention data
Sales pipeline, customer logos, case studies
Strategic Narrative:
Pitch deck and one-pager
Product roadmap
Use-of-funds plan
📁 Pro tip: Create folder-level permissions so investors can access information in stages—teasing early documents and unlocking deeper layers as interest grows.
Investors don’t fund operations—they fund outcomes.
If you’re raising $3M, you need a clear, data-driven answer to: What will this money do? That’s where your use-of-funds model and ROI narrative come in.
$1.5M → hire 4 engineers to complete AI module → 10x customer upsell opportunity
$750K → scale SDR team → double pipeline and ARR in 12 months
$500K → expand to new vertical → 30% YoY growth
When your capital plan maps to measurable milestones, investors see not just your ambition—but your execution mindset.
Yes, investors want great products and fast growth. But more than anything, they want clarity, discipline, and trustworthiness. A clean cap table and a well-organized data room say:
“We’re ready. We’ve done the work. You won’t be surprised.”
At Sea Change Advisors, we help SaaS founders clean house before the raise—so you can move fast, negotiate from a position of strength, and close with confidence.
Get Fundraise-Ready with Sea Change Advisors
From cap table modeling to pitch prep and investor targeting, we help SaaS companies de-risk the process and unlock capital faster.
📩 Let’s connect and talk about your raise.