Why is it crucial to announce funding milestones?

Why is it crucial to announce funding milestones?

Lucy Bradley, Brand Commander of Plug Communications

If you are not visible, you are invisible. It might sound obvious, but I am constantly surprised by how many business owners are loath to put themselves out there and shout about their great work. As a startup founder, you need to take visibility seriously because building a credible presence is an absolute must to accelerate growth. Positive exposure puts you in a stronger position to attract new customers, stand out from the competition, and create a winning culture. It also plays a crucial part in your funding journey.

Ideally, you will already be utilising publicity to attract investors in the first place. Then, once you do complete a successful funding round, do not miss the opportunity to maximise the news as part of your marketing activity. This is the time to celebrate your success and be strategic about your communications so you can demonstrate the increased value of your brand and continue to go from strength to strength, ready for the next stage.

Initial preparation

Now that you know why it needs to be done, let’s look at how. Firstly, there are several steps you need to take before going public. Speak to the investors and tell them about your plans, checking to see if they are willing to be named in any communication. Align on what financial information you want to share and what channels you plan to use. If you intend to do a press release, it should contain as many factual details as possible; the media will want to know figures, otherwise it won’t be considered newsworthy. Also consider what key messages you want to include about the company, e.g., how you solve problems for your customers, what your mission and values are, what you do differently, and what is in store for the future.

Communicate to your database

Maintaining an up-to-date, relevant database of customers, potential customers, and industry stakeholders is one of the most important things you can do for your business. And it gives you a captive audience when you have important news to share. Create an email announcement that includes the key information and is nicely designed to make a visual impact. Emailers are not the place for overly long copy, so keep it concise, focusing on the main takeaways. Preferably, you will have a press release on your website, and the emailer can have a link to direct people there for more information.

Press and media liaison

Funding milestones are usually a good reason to reach out to the media, and many media outlets want to support startups and scale-ups by sharing the news, providing a well-written press release. As mentioned above, include investment amounts where possible and explain what you plan to do with the funding, how it will benefit your customer base, and how it will enable you to grow. Include quotes from the investor if you have their permission, and a quote from you as the founder. The investor’s quote should cover why they chose to invest in this very startup, and your quote should outline what the funding means for your business. You can also draw on what is happening in your wider industry (using statistics) and why it is an opportune time for growth.

When it comes to contacting the media, it is usually more effective to work with a PR agency that has a good network of contacts and can liaise on your behalf. If you do want to issue the press release yourself, make sure you have an accurate media list with the names of journalists who cover funding stories. Send the press release along with the key spokespeople's biographies and headshots, and if necessary, offer interviews to provide more information.

If you have not been doing regular media relations, your funding press release is a good basis to establish ongoing dialogue with journalists and offer follow-up content. It may be that you can provide opinion pieces about the big topics or trends happening in your industry. Also, let them know you are happy to be contacted for input on relevant features.


Hopefully, you already understand the power of networking and are using it to find leads and meet people you can collaborate with. This is a good time to meet other business owners, not to bombard people with your good news, but to connect with the business community and share your experiences as you support each other at different stages. You can also ask the networking group organiser if they welcome speaking slots or panel discussions, which you could take part in, offering your insights on industry-related topics or more specific tips like securing funding.

Keep up the good work

Consistent communication is key. Do not stop talking to your audience once the announcement is made. Keep communicating with your database, being featured in the media, and being an active member of your business community so you can build on what you have achieved so far and move on to new heights.

Thank you

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